Oando Denies Owning Interests in Maltese Oil Storage & Blending Facility, Ras Hanzir Oil Terminal Limited
Oando Plc has addressed allegations circulating on social and digital media accusing the company of being a shareholder, and its principals of being board members, in a Maltese company, Ras Hanzir Oil Terminal Limited. This company purportedly operates an oil storage and blending facility and has been accused of importing adulterated petroleum products into Nigeria.
In response, Oando Plc has firmly refuted these claims, asserting that neither the company nor its executives have ever held shares, investments, or interests in the alleged Maltese company. As part of their investigation into the origins of these false claims, Oando conducted a search of the Malta Business Registry, the official repository for all registered entities in Malta, past and present. This search yielded no results for a company named Ras Hanzir Oil Terminal Limited. Further due diligence efforts also failed to uncover any record of the company’s existence.
Oando believes that these false claims are intended to mislead the public and its stakeholders maliciously. The company emphasized that, as a publicly listed entity, any corporate actions, including acquisitions, are declared publicly in accordance with applicable corporate governance laws and rules. It also stressed the importance of thorough research and accuracy before publishing information about a publicly quoted company like Oando. The company’s securities are traded daily across two exchanges, the Nigerian Exchange (NGX) and the Johannesburg Stock Exchange (JSE), to prevent misinformation and confusion among investors and stakeholders.
Oando Plc urges all members of the press to take adequate steps to verify the accuracy of reports by consulting with the company’s Corporate Communications department before publishing.
Source: The Nation
