Malabu Oil and Gas Limited has dismissed comments by former Vice-President Atiku Abubakar on the controversial OPL 245 oil block, declaring that he has no authority to speak on behalf of the company or its shareholders.
The firm also denied any ownership link to Mohammed Abacha or Pecos Energy, insisting that its legitimate ownership structure remains as captured in records of the Corporate Affairs Commission.
In a statement issued on Friday, Malabu said claims suggesting that Atiku or any third party represents its interests were “false and misleading,” stressing that only duly recognised shareholders can speak for the company.
“Abubakar Atiku has no ownership interest and cannot speak on Malabu’s behalf. Recent statements attributed to him concerning Malabu or OPL 245 do not reflect Malabu’s position and cannot stand,” the company said.
The development comes amid renewed controversy over OPL 245, one of Nigeria’s most disputed oil blocks, following a recent resolution agreement between the Federal Government and Eni/Nigerian Agip Exploration Limited to convert the asset into an Oil Mining Licence.
While Atiku had criticised the deal, describing it as lacking input from “critical stakeholders,” the Attorney-General of the Federation, Lateef Fagbemi, faulted the position, calling the resolution a landmark achievement after decades of legal disputes.
Malabu, however, distanced itself from Atiku’s intervention, warning against what it described as misrepresentation of its ownership and interests.
The company maintained that its shareholding structure is clearly documented with the Corporate Affairs Commission and should remain the only reference point in determining legitimate ownership.
It further noted that the Federal Government followed due process in its 2011 settlement with the rightful owners of the oil block, dismissing contrary claims by individuals or groups as baseless.
“Parties parading themselves as owners or as having interests in Malabu without basis in CAC records are misrepresenting the facts,” the statement added.
On the ongoing legal tussles, the company said no court had recognised any rival claimants, including Mohammed Abacha or Pecos Energy, as lawful owners.
“They lost in the court of first instance and on appeal, and none of these judgments confer legal ownership in Malabu on the impostors,” it said.
Malabu also urged individuals it described as “impostors” to stop harassing the Federal Government over the oil block, noting that engagement on OPL 245 is strictly limited to lawful stakeholders.
The ownership of Malabu has remained a subject of protracted legal and political disputes since the oil block was awarded in 1998 during the regime of the late military ruler, Sani Abacha.
Other figures linked to the controversy include Dan Etete, who had been recognised by the government as a beneficial owner of the company, a position later challenged in court.
Mohammed Abacha is currently pursuing legal action to assert majority ownership of the firm, arguing that his name was unlawfully removed from company records.
However, court proceedings have raised questions over the legitimacy of that claim.
Reaffirming its position, Malabu pledged commitment to transparency, due process, and compliance with all applicable laws in its dealings.
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