Malabu Oil and Gas Limited has dismissed claims that the company is owned by the Abachas or Pecos Limited as false.
This assertion was made in a statement signed by the Management of the company and made available to Newsdiaryonline.
According to the company, “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.”
It further said, “Ownership claims by non-recorded parties are misrepresentations.”
It added, “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.
Addressing the Judicial status of ownership claims, the company said
“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.
In what it described as a “Call to responsible discourse” the Management said, “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
“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. This statement reaffirms Malabu’s commitment to transparency, due process, and compliance
with applicable laws and regulatory requirements.