Seplat Energy PLC on Friday said that its Chief Executive Officer Roger Brown has been barred from running the company for seven days, amid accusations of racism.
Seplat is a Lagos-based oil and gas company focused on Nigeria. Its shares were down 1.8% to 111.74 pence each in London on Friday at midday.
On Friday, Seplat said that it was served with court processes and ex-parte interim order from the Federal High Court, Lagos, Nigeria the day before . This order has restrained Brown from participating in the running of the company for a period of seven days.
The day before, Seplat said it has become aware of a news report following a letter regarding the residency status of its CEO Roger Brown. Reports have said that Brown’s visa has been revoked following accusations of racism.
The company said: ‘Seplat Energy wishes to refute the false allegations against Brown, which have been presented to the Ministry of Interior and the public by certain petitioners, and which have not been brought to the attention of Roger Brown or Seplat Energy for a reaction.
‘The orchestrated media reports are clearly calculated to spread false information. Seplat Energy will be engaging with the Ministry to reject the impressions created by these allegations.’
The company reiterated its defence of Brown on Friday. It said: ‘The interim orders are premised on allegations of unfair, prejudicial, and offensive acts by the chair, CEO and all of the independent non-executive directors of Seplat Energy.’
The allegations include that Brown organised a site visit for a number of its major shareholders to the company’s operations, cancelled some catering and landscaping contracts, and introduced a new job performance rating.
‘Seplat Energy refutes the allegations and notes that since Brown became CEO in 2020, Nigerian nationals have been appointed to the company’s most important positions, including chair, senior independent non-executive director, chief financial officer and chief operating officer,’ Seplat said.
The company noted that the order allows Chair Basil Omiyi and all the independent non-executives to continue running the company on the basis that it is in accordance with Nigerian law.
Brown has delegated his authority to Chief Operating Officer Samson Ezugworie, who will act as CEO during the period that he is required to step back from executive duties.
‘Seplat will follow the due processes of law in responding to the allegations before the courts. At the same time, the company will continue to maintain its operational excellence and act in line with the best corporate governance standards,’ Seplat said.
According to the company’s website, Brown joined Seplat in 2013 as chief financial officer. He was then appointed as CEO in August 2020.
On Wednesday, Seplat’s board ‘unanimously’ passed a vote of confidence in Brown. On Thursday, Seplat had said he would continue working in his post from the UK office.
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