Oando Plc has warned individuals and entities making what it termed false information about its recent acquisition of Nigerian Agip Oil Company (NAOC) to desist or face legal action.
In a statement signed on Monday by Ayotola Jagun, the company’s secretary, Oando described the claims as “malicious, baseless, and false,” stating that they have been deliberately propagated by certain individuals and their agents.
The company asserted that such claims damage its reputation and also misleads the public, adding that it will not tolerate any attempts to tarnish its image or disrupt its operations through baseless and defamatory claims.
“To this end, the company has instructed its legal team to closely monitor the situation and gather evidence against those involved in these malevolent activities as we intend to seek legal redress against any individual or entity found to be responsible for spreading false information against the company and its management,” Oando said.
The warning comes after former Vice-President Atiku Abubakar questioned the federal government’s accelerated approval of the NAOC transaction, claiming that Oando Plc is owned by President Bola Tinubu’s nephew.
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However, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) clarified that the divestment of NAOC to Oando was conducted in accordance with the Petroleum Industry Act (PIA) 2021 and the commission’s standard consent approval process.
Oando provided a detailed timeline of the transaction, stating that NAOC notified the NUPRC of its intent to carry out the transaction on May 16, 2023, and formally submitted its application on November 7, 2023.
The company emphasized that the timeframe for the transaction, from receipt of the application to the grant of ministerial consent, was in accordance with the relevant laws and took a total of 248 days.
Oando reiterated its commitment to transparency and adherence to regulatory guidelines, warning that it will take legal action against those spreading false information about the NAOC transaction.
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