How Seplat Petroleum obtained N38.5b Access Bank loan by proxy
By Editor. Evidence adduced on Friday, last week showed that Seplat Petroleum Development Company Plc eventually utilised the loan worth N38.5 billion obtained from Access Bank by its subsidiary firm, Cardinal Drilling. According to documents filed in court by the bank through its lawyer, Kunle Ogunba, SAN, Cardinal Drilling is revealed as a subsidiary of Seplat Petroleum Plc contrary to its earlier claim. Seplat purportedly wrote a petition against Ogunba to the Legal Practitioners Privileges Committee (LPPC) and the…