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*MALABU OIL & GAS LIMITED – OWNERSHIP STATEMENT
This press release clarifies the true ownership of Malabu Oil & Gas Limited following recent misinformation published in the media. Malabu Oil & Gas Limited
(Malabu) clearly and unequivocally states:
The property is in no way connected to Mohamed Abacha or Pecos Limited.
Claims that Malabu is owned by Abachas or Pecos Limited are false and misleading. Legitimate ownership is reflected in the records of the Corporate Affairs Commission (CAC). Malabu’s ownership and shareholding are documented in the CAC records, which regulate and confirm the legitimate shareholders.
Regarding the 2011 Settlement Agreement, the Federal Government of Nigeria engaged with the rightful owners according to due process during the 2011 OPL 245 settlement. Public exposure by third parties claiming ownership is
misleading.
Claims of ownership by unregistered parties constitute misrepresentations.
Parties who present themselves as owners or having interests in Malabu without any basis in the CAC records are misrepresenting the facts. Abubakar Atiku has no ownership interest and cannot speak for Malabu. Recent statements attributed to him regarding Malabu or OPL 245 do not reflect Malabu’s position and cannot stand.
Legal status of ownership claims.
No court recognized the appellants as owners of Malabu. There was no grant by the court of equity ownership to Mohamed Abacha, Pecos or any other third party. They lost at first instance and on appeal, and neither of these rulings confers the
impostors.
Invitation to responsible discourse.
We urge all commentators and media representatives to rely on the CAC records and established judicial processes when discussing the ownership and governance of Malabu and OPL 245.
More importantly, parties should immediately stop presenting themselves as shareholders of Malabu as it is fraudulent and misleading.
All impostors should immediately stop harassing the Federal Government of Nigeria over OPL 245 as they have no legal basis to undertake such actions.
The federal government deals with the legal shareholders of Malabu as required by law.
This statement reaffirms Malabu’s commitment to transparency, due process and compliance with applicable laws and regulatory requirements.
*Signed
Management
