A former chief executive of Seplat Energy, Austin Avuru, has been restrained by the Federal Capital Territory High Court in Bwari, Abuja from releasin
A former chief executive of Seplat Energy, Austin Avuru, has been restrained by the Federal Capital Territory High Court in Bwari, Abuja from releasing his books to members of the public.
The books titled My Entrepreneurship Journey, A Safe Part of Hands and Politics, Economics & the Nigerian Petroleum Industry were scheduled to be launched on August 4, at the Eko Hotels and Suites, Victoria Island, Lagos.
The presiding judge, Justice S.B Belgore gave the restraining order on Tuesday stopping Mr Avuru, his publishers, Radi8 Limited and their agents and privies from presenting the book pending the hearing and determination of the motion on notice.
The suit marked: FCT/HC/BW/CV/184/22 was instituted by Nwabughogu Bright and Ezechuchukwu Augustine Nnaemeka who claimed they are concerned proprietary interest holders in Seplat Energy Plc.
According to them, the content of the books is offensive to their interest as shareholders of Seplat Energy Plc. Ruling on the application, Justice Belgore restrained the Defendants in the suit from presenting the books or any other books on August 4, pending the hearing and determination of motion on notice.
The judge also ordered the Inspector General of Police (IGP) to ensure strict compliance with the Orders granted by the court. After granting the following injunctions, the judge adjourned till August 30, to hear the motion on notice.
Recall that Avuru a co founder of Seplat Energy retired from the company in November 2019 as the CEO but later became a non-executive director until his sudden exit in December 2021. His stepping down as the CEO was just as controversial as his sudden exit from the company.
In December of 2021, the Director, External Affairs & Sustainability of Seplat, announced the termination of Avuru’s appointment as a Non-Executive Director, due to alleged breaches he made during his time in the company.
“For Seplat, his actions contravene the company’s corporate governance policies and fiduciary duties,” the termination announcement said.
The letter also called for Avuru’s resignation from a company he co founded as well.
Reacting to the termination of his appointment from the board, Avuru advised the public to discredit the alleged termination of his appointment.
His legal counsels, Osaro Eghobamien and Folabi Kuti of Perchstone and Graeys, issued a statement as a response to the announcement, saying that the publication by Seplat was made to malign their client’s reputation. They called the decision of the Seplat Board as ill-advised, grossly mischievous and fictitious.
One of the books, Austin Avuru: A Safe Pair of Hands is a remarkable story about him told in sequential order, chronicling his time when he first set up Platform Petroleum and then Seplat, which he co-founded with ABC Orjiako the former chairman of the company.
