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Ecobank Nigeria Limited has warned Flour Mills of Nigeria Plc against the proposed acquisition of equity stake in Honeywell Flour Mills Plc, alleging that Honeywell Group Limited, the parent firm, had not been paying up its loans from the bank. The PUNCH had on Tuesday reported that a proposed deal between Flour Mills
By Rasheed Adigun In the past few weeks, the management of Seplat Petroleum Development Company has been attempting to twist the narrative in its ongoing suit against Access Bank Plc, in a bid to attract public sympathy. Unfortunately, Seplat which has failed to honour its obligation appears not to be bothered about the implication of its bad behaviour on its reputation as a listed company on both the globally-respected London Stock Exchange and one of Africa’s bourse, the Nigerian Stock Exchange. It is disheartening to note that A.B.C Orjiako, the chairman of Seplat Petroleum Development C...
Access Bank and Seplat Petroleum Company Plc. have recently been enmeshed in legal tussle in the formerâs efforts to recover an outstanding U$.85.8 million loan to Cardinal Drilling Services Ltd. Olaoluwakitan Babatunde x-rays the issues, and writes that Access Bank is on a misdirected crusade The Nigerian corporate world was taken aback when on 2nd December 2020 a team of fully armed policemen and lawyers took over and disrupted businesses and activities at the No. 16 Temple Road, Ikoyi Lagos corporate office of the Nigerian oil and gas giant, Seplat Petroleum Company Plc. The office wa...
5 min read The only problem in this case is that by going after Seplat Petroleum, even suing it as the first defendant, to recover a debt owed by Cardinal Drilling Services Nigeria Limited, Access Bank may have gone on an overdrive and overshot the runway in its bid to recover of what is a legacy debt… The peace and tranquillity of the corporate world was recently rattled by the news that a Nigerian court had granted an injunction allowing Nigeria’s biggest lender, Access Bank to seal up the headquarters of Seplat Petroleum Development Company, a leading and indigenous pla...
Davidson Iriekpen Lawyer to Access Bank Plc, Mr. Kunle Ogunba (SAN), has accused Seplat Petroleum Development Company of embarking on blackmail and intimidation over his discharge of his professional duties to the bank. The senior lawyer, was reacting to reports that he had been dragged to the Legal Practitioners Privileges Committee (LPPC) and the Legal Practitioners Disciplinary Committee (LPDC) of the Nigerian Bar Association (NBA) for alleged gross misconduct and unethical practices by the indigenous oil company. Ogunba posited that the so-called petition against him, if it exists at all,...