Seplat Energy has terminated a consultancy agreement involving the company’s wholly owned subsidiary and its co-founder and immediate past chairman, A.B.C. Orjiako.
Mr Orjiako, acting through Amaze Limited, was required to offer specified support with some external stakeholder engagements after exiting the board last year according to details of the pact, Seplat said in a statement on Thursday.
Members of the board of directors of Nigeria’s biggest oil & gas company by market value unanimously terminated the consultancy agreement on 13 February after several warnings of infractions including “unilaterally making significant commitments on Seplat’s letterhead without prior board authority or knowledge.
