“Malabu Oil is not owned by Abacha, Atiku, Pecos Limited”

*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

Check Also

Freedom of Information Act and The Limits of Press Freedom, By Mack Ogbamosa – THISAGE

        Introduction  A free, independent, and vibrant press is one of the strongest pillars of any democratic society. It is against this background that most democratic countries  make constitutional provisions for a free press . Others even go further to enact specific laws to make affairs of governments freely available to the public. Currently, there are more than  130 countries in the world that have free press laws. They include Sweden, United States, France, South Africa and Nigeria. Nigeria did not only make  constitutional provisions in Sections 22 and 39(1) of the 1999 Constitution ( as amended) but also went ahead to enact the Freedom of Information Act  in 2011. Section 22 of the 1999  Constitution states: “ “The press, radio, television and other agencies of the mass media  shall at all times be free to uphold the fundamental objectives contained in this chapter( ie Chapter II) and uphold the responsibility and accountability of the Government to the people”  Section 39(1)  of same Constitution states : “Every person shall be entitled to freedom of expression, including freedom to hold opinions and to receive and impart ideas and information without interference” ..  To complement these constitutional provisions, Section 1 (1) of the Freedom of Information Act (FOIA) states “Notwithstanding anything contained in any other Act, law or regulation, the right of any person to access or request information, whether or not contained in any written form, which is in the custody or possession of any public official, agency or institution howsoever described, is established.” while Section  2(2), states that: “A public institution shall ensure the proper organization and maintenance of all information in its custody in a manner that facilitates public access to such information”  Primary Purpose of FOIA  According to the Act, its primary purpose is to make information about public records freely available to every Nigerian in the public interest. …

Leave a Reply

Your email address will not be published. Required fields are marked *