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Sunday, April 11, 2021
Home Uncategorized Access bank loan: Court seals SEPLAT Corporate Headquarters

Access bank loan: Court seals SEPLAT Corporate Headquarters

On 2nd December 2020, the building in which SEPLAT Corporate Headquarters is located, at 16A Temple Road, Ikoyi, Lagos, was sealed in connection with a court case by Access Bank against Cardinal Drilling Services Limited, third party providing drilling services to SEPLAT.

However, SEPLAT in a statement said: “We understand that Cardinal Drilling has outstanding loan obligations to Access Bank. However, SEPLAT is neither a shareholder in Cardinal Drilling, nor has outstanding loan obligations or guarantees to Access Bank and did not at any time make any commitments or guarantees in respect of Cardinal Drilling’s loan obligations to Access Bank. SEPLAT strongly believes that there is no merit or justification for this action against it and has taken prompt legal action to vacate the court order pursuant to which the building was sealed. This action was taken by Access Bank without any prior notice to SEPLAT, as required under Nigerian law”.

“SEPLAT will vigorously defend against this improper action to the full extent of the law and will seek all appropriate legal remedies”.

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