THE Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, said Seplat Petroleum Development Company Plc has not broken any law by its appointment of Mr. Roger Brown as the chief executive officer (CEO) Designate to replace current CEO, Mr. Austin Avuru.
He stated this at the just concluded 9th Practical Nigerian Content Conference hosted by the NCDMB in Yenagoa, Bayelsa State.
While clarifying the Board’s position on the appointment in his address, Wabote said: “If you read the Act itself, it creates a five per cent position for investors. The investment in Seplat is not coming fully from Nigeria; the company is publicly listed in the London and Nigerian stock Exchanges. So, the company is bringing in external funds and most of these fund contributors would want to have some level of representation in such establishment.
“There is no breaking of law by Seplat; but I think the point that was being made was that…