Oando PLC has strongly refuted allegations that it and its executives are linked to Raz Hansir Oil Terminal Limited, a Maltese firm allegedly involved in importing adulterated petroleum products into Nigeria.
In a statement issued over the weekend, Oando asserted that neither the company nor its executives have any shares, investments, or interests in Raz Hansir Oil Terminal Limited.
The statement noted, "Our attention has been drawn to recent allegations of being a shareholder, and its Principals of being Board members, in a Maltese company, Raz Hansir Oil Terminal Limited." The company’s investigation, which included a comprehensive search of the Malta Business Registry, found no evidence of the company's existence. "Subsequent due diligence efforts similarly failed to uncover any record of the company's existence," the statement added.
Oando condemned the allegations as "malicious" and aimed at misleading the public and stakeholders. The company reaffirmed its commitment to transparency and adherence to corporate governance standards, stressing the importance of accurate information to avoid misinformation.
Ayotola Jagun, Company Secretary, urged the media to confirm information through Oando's Corporate Communications department to ensure accuracy. "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. Oando’s securities are actively traded on the Nigerian Exchange (NGX) and the Johannesburg Stock Exchange (JSE).
