Malabu Oil and Gas Limited has denied claims linking its ownership to Mohammed Abacha and Pecos Limited, saying such assertions are false and misleading.
In a statement issued on Friday, the company said its ownership is clearly stated in records held by the Corporate Affairs Commission and not connected to the individuals or entities mentioned in recent reports.
“Ownership is not in any way linked to Mohamed Abacha or Pecos Limited.
“Claims that Malabu is owned by the Abacha’s or Pecos Limited are false and misleading. The rightful ownership is reflected in the Corporate Affairs Commission (CAC) records. Malabu’s ownership and shareholding are documented in the CAC records, which govern and confirm the legitimate shareholders. In respect of the 2011 settlement agreement, the Federal Government of Nigeria engaged with the legitimate owners in accordance with due process during the 2011 OPL 245 settlement. Public display by third parties claiming ownership is misleading,” the statement said.
The company also rejected claims by individuals it described as non-recorded parties, including former vice president Atiku Abubakar.
“Parties parading themselves as owners or as having interests in Malabu without basis in the CAC records are misrepresenting the facts. Abubakar Atiku has no ownership interest and cannot speak on Malabu’s behalf. Recent statements attributed to him concerning Malabu or OPL 245 do not reflect Malabu’s position and cannot stand.”
Malabu said no court has recognised any of the claimants as owners of the company.
“No court has recognized the claimants as Malabu’s owners. There has been no court grant of shareholding to Mohamed Abacha, Pecos, or any other third party. They lost in the court of first instance and on appeal, and none of these judgments confer legal ownership in Malabu on the impostors,” the company said.
It urged the media and commentators to rely on official records and court processes when reporting on the matter.
“We urge all commentators and media representatives to rely on the CAC records and established court processes when discussing ownership and governance of Malabu and OPL 245. More importantly, the parties should immediately stop parading themselves as shareholders of Malabu as it is fraudulent and misleading.
“All impostors should at once stop harassing the Federal Government of Nigeria in respect to OPL 245 as they have no legal basis for engaging in such actions. The Federal Government is dealing with the legal shareholders of Malabu as required by law,” statement continued.
The dispute over OPL 245 has drawn renewed attention in recent weeks following a settlement between the Nigerian government and Eni and Nigerian Agip Exploration Limited to allow production to begin after years of legal and political controversy.
