The Chief Executive Officer of Seplat Energy Plc, Roger Brown has stepped down following the order of a Federal High Court in Lagos.
Brown is to stop parading himself as the CEO, pending the determination of a suit filed against him and others by aggrieved company stakeholders.
They accused the British of racism, favoritism for expatriate workers, discrimination against Nigerians, and breach of good governance code.
On Friday, the board Chairman, Basil Omiyi informed Nigerian Exchange Ltd, NGX, that Brown will stay off work for a period of seven days.
The company said that the decision followed an ex-parte Interim Order by Justice C. J. Aneke of the Federal High Court.
Omiyi said Seplat believes the allegations are “a spurious and vindictive reaction to the Board’s enforcement of corporate governance standards”.
The federal government had in a March 3 letter signed Minister of Interior, Rauf Aregbesola, revoked Brown’s Work Permit, Visa and Residence Permit.
He is also accused of possession of a Combined Expatriate Residence Permit and Aliens Card (CERPAC) not based on a valid Expatriate Quota.
The embattled CEO allegedly failed to honour invitations by the ministry’s panel which investigated the matter.
Brown joined Seplat in 2013 as the Chief Financial Officer (CFO) and became the CEO in November 2019, though assumed office in 2020.
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