Oando Plc has refuted allegations connecting the company and its executives to Raz Hansir Oil Terminal Ltd., a purported company in Malta, asserting that no such entity exists.
According to the News Agency of Nigeria, Raz Hansir was allegedly involved in importing adulterated petroleum products into Nigeria.
Oando was accused of operating an oil storage and blending facility and allegedly importing tainted petroleum products into the country.
The Company Secretary of Oando Plc, Ms. Ayotola Jagun, issued a statement to the Nigerian Exchange Ltd. in Lagos, affirming that neither Oando nor its executives have ever had any shares, investments, or interests in the non-existent Maltese company.
She stated, “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 as a publicly listed company, any corporate actions, such as acquisitions, are publicly declared in accordance with applicable corporate governance laws and regulations.
She noted that information released about a publicly quoted company like Oando is thoroughly researched and deemed accurate before being published.
Jagun added that the company’s securities are traded daily on both the Nigerian Exchange Ltd. and the Johannesburg Stock Exchange.
“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.
