Fakoyejo OlalekanThe former chief executive of Seplat Energy, Austin Avuru, has experienced a setback in his tell-all book set for release on August, after the Federal Capital Territory High Court in Bwari, shutdown the launch.
Avuru had authored the book titled; “My Entrepreneurship Journey” and “A Safe Part of Hands and Politics, Economics & the Nigerian Petroleum Industry” after exiting Seplat unceremoniously.
The businessman, who is a co-founder of Seplat, had retired as Chief Executive on July 31, 2020, taking a new position as Non-Executive Director at the oil and gas firm.
He was appointed to help with policymaking, and planning exercises for Seplat operation. However, during his tenure as Non-Executive Director, Avuru was accused of violating Seplat’s corporate governance policies and his fiduciary duties.
Avuru was forced to resign his position, with his investment company, Platform Petroleum Limited – through which he holds majority shares – told to tender another representative to be on Seplat’s Board.
He was eventually replaced by Platform Petroleum Limited’s Executive Director, Commercial, Kazeem Raimi. And three months after his exit, Avuru decided to launch a tell-all on his period in the Nigerian Petroleum Industry.
The book might not hit the market, considering Justice S.B Belgore’s order, restraining Avuru, his publishers, Radi8 Limited and their agents from releasing the book.
The book launch is being challenged by some shareholders of Seplat, Nwabughogu Bright and Ezechuchukwu Augustine Nnaemeka. They argued that the book contents is harmful to their investment in the company, praying for the judge to prevent its release.
The judge adjourned the judgement on the suit to August 5, 2022, stating, “An order of Interim Injunction restraining the Defendants, their privies, assigns, agents, and howsoever defined from interfering with the entirety of the res juris by distributing or causing the distribution of the book titled “My Entrepreneurship Journey” by Austin Avuru, founding CEO, Seplat Energy pending the hearing and determination of the motion on notice is hereby granted.
“An Order granting departure from the High Court of the FCT the (Civil Procedure) Rules, 2018 and directing that notwithstanding the provision of Order 43 Rule 3 (2) of the Rule of this Honourable Court, that the interim Order in respect of the foregoing release shall continue to subsist pending the hearing of the Motion on Notice, which is now fixed for 30-8-2022 is hereby granted.
“An Order directing the Inspector General of Police either by himself or any officer under his control or command to ensure strict compliance with the foregoing Orders is hereby granted.”
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