FG Sues Seplat Energy, CEO, 11 Top Executives For Alleged $37.5m Tax Evasion - 9jaflaver





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FG Sues Seplat Energy, CEO, 11 Top Executives For Alleged $37.5m Tax Evasion

    Posted by on January 20, 2025,




FG Sues Seplat Energy, CEO, 11 Top Executives For Alleged $37.5m Tax Evasion

The Federal Government has filed a five-count charge against Seplat Petroleum and 12 of its officials for evading the payment of $37.5 million in stamp duties related to their 2010 acquisition of oil assets.

The charges, filed in a Lagos Federal High Court, also include allegations of document forgery involving the Commissioner of Stamp Duties’ seal. The case is set for trial on February 28, 2025.

The charges were filed before a Lagos Federal High Court by a team of prosecutors from the Federal Inland Revenue Service (FIRS).

The accused officials, including Roger Brown, Samson Ezugworie, Eleanor Adaralegbe, Effiong Okon, Ayodele Olatunde, Obi Ada Itotoi, Pius Ozoemenah Udeh, Edith Owuchekwa, Chioma Yvonne Afe, Okechukwu Mba, Alasdair Mackenzie, and Steve Ojeh, were alleged to have evaded paying the stamp duty on the executed Purchase Agreement for the acquisition.

The charge stated that Seplat and its officials failed to remit the statutory sum due to the Federal Government of Nigeria, resulting in a total unpaid amount of $37,581,083.40, which included both the original stamp duty and accruing interest.

The charges, as outlined in the court documents, accuse Seplat Petroleum and its officials of multiple violations, including failing to pay the stamp duty on the executed purchase agreements and evading payment of other duties, fines, and penalties due to the government.

The sum, due and payable to the Federal Republic of Nigeria, is alleged to have been unlawfully withheld during the acquisition of the oil assets in 2010.

These actions are in breach of the Stamp Duties Act and carry serious penalties under Sections 111 and 112 of the Act.

In addition to the failure to pay the required stamp duty, the defendants were also accused of counterfeiting the seal of the Commissioner of Stamp Duties.

The charge alleged that they inserted the forged seal onto the purchase agreements for OML 4, OML 38, and OML 41 in order to falsely validate the documents and avoid paying the required taxes.

This act of counterfeiting is punishable under Section 43(c) of the Federal Inland Revenue Service (FIRS) Establishment Act.

The charges against Seplat Petroleum and the 12 individuals have drawn attention to the company’s dealings and its compliance with Nigerian tax laws.

The case has been scheduled for trial on February 28, 2025, where the accused will face legal consequences for their alleged involvement in tax fraud and document falsification.








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