26th July, 2024
Oando Plc has denied any connections between the company and Raz Hansir Oil Terminal Ltd., a Maltese company accused of importing adulterated petroleum products into Nigeria.
Allegations claimed that Oando operated an oil storage and blending facility responsible for these imports.
Ayotola Jagun, the Company Secretary at Oando Plc, issued a statement to the Nigerian Exchange Ltd. (NGX) in Lagos, denying any connection.
She said: “As part of a comprehensive investigation into the basis of the false claims, we conducted a search of the Malta Business Registry, the official repository for all registered entities, past and current, within the country.
“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.
“We, therefore, believe that the false claims are of malicious intent, aimed at misleading the public and our stakeholders.”
Jagun emphasized that neither Oando nor its executives have ever had shares, investments, or interests in the Maltese company.
Jagun explained that a thorough investigation was conducted, including a search of the Malta Business Registry, which revealed no company by that name. Additional due diligence also failed to find any record of such a company’s existence.
Jagun also noted that Oando’s securities are traded on both the NGX and the Johannesburg Stock Exchange (JSE) and urged the media to verify information with Oando’s Corporate Communications department to prevent misinformation.
“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,” Jagun said.