WHY SEPLAT PETROLEUM THREATENS TO DRAG ACCESS BANK TO COURT

Why Seplat Petroleum Threatens to Drag Access Bank to Court

Seplat Petroleum Development Company SPDC Plc has threatened to take legal action against Access Bank over the sealing of its corporate headquarters in Lagos.

Access Bank had reportedly sealed off Seplat Petroleum SPDC’s corporate headquarters at 16A Temple Road, Ikoyi, Lagos, over the indebtedness of a third party.

However, the management of SPDC who frowned over the development, insisted it never made any commitment or guarantee in respect of the alleged debtor, Cardinal Drilling’s loan obligations to Access Bank.

In response to the action taken by Access Bank, the management of SPDC has stated that the court order lacked any merit or justification. SPDC also stated plans to take legal actions in order to counter the order.

A part of the press statement issued by SPDC, signed by its company’s Secretary and General Counsel, Mrs Edith Onwuchekwa reads thus:


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