By Adaobi Rhema Oguejiofor
The Director General (DG) of the Securities and Exchange Commission, Lamido Yuguda, has said that the current crisis shaking Seplat, an indigenous Nigerian energy company, has nothing to do with its fundamental economic activities.
Yuguda made this known on Thursday during a press conference, following the completion of the first Capital Market Committee meeting for 2023.
The DG said that the Commission has examined the issues surrounding Seplat and has come to the conclusion that these issues are not related to the fundamental economic activities of Seplat as a corporate entity.
According to him, Seplat’s production has not been affected and work at all Seplat facilities is still moving as it should, although there are issues surrounding some of the members of the Board and some of the shareholders.
Yuguda added that the Commission has urged the Board of Seplat to pay attention to their issues, whether it is the administrative issues that have been raised or the legal issues that have been raised.
He further said that the Commission was satisfied with the efforts put in place by Seplat in addressing the issues raised with them at the meeting.