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Oando Denied Ownership of Maltese Oil Storage and Blending Facility

Monday Yakubu by Monday Yakubu
July 28, 2024
in Business
0

Oando Denied Ownership of Maltese Oil Storage and Blending Facility

Oando Plc has firmly denied allegations of owning any interest in the Maltese Oil Storage and Blending Facility, Ras Hanzir Oil Terminal Limited. The company released a statement through its Company Secretary, Ayotola Jagun, asserting that these claims are unfounded.

“Our attention has been drawn to recent allegations on social and digital media, leveled against Oando PLC of being a shareholder, and its Principals of being board members, in a Maltese company, Ras Hanzir Oil Terminal Limited that operates an oil storage and blending facility, and is purportedly responsible for importing adulterated petroleum products into Nigeria,” the statement read.

Oando clarified that it conducted a thorough investigation, including a search of the Malta Business Registry, which found no evidence of such a company.

“As part of a comprehensive investigation into the basis of the false claims, we conducted a search of the Malta Business Registry… Our search yielded no results for a company bearing that name. Subsequent due diligence efforts similarly failed to uncover any record of the company’s existence.”

The company suggested that the allegations are intended to mislead the public and its stakeholders.

“We believe that the false claims are of the malicious intent of misleading the public and our stakeholders,” Oando stated.

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Oando also emphasized its commitment to transparency, noting that any corporate actions are publicly declared in compliance with corporate governance laws.

“As a publicly listed company, any corporate actions, such as acquisitions, are declared publicly in accordance with applicable corporate governance laws and rules.”

The company urged the press to verify information before publication to avoid misinformation and confusion among investors and stakeholders.

The statement concluded, “To prevent misinformation and confusion among investors, as well as our other stakeholders, we implore all members of the press to take adequate steps to ensure the veracity of reports by fielding all enquiries with Oando PLC’s Corporate Communications department.”


Tags: Blending FacilityDeniedMaltese Oil StorageOandoOwnership

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