Malabu Oil & Gas Limited, a Nigerian oil firm, has rejected claims that it is owned by Mohammed Abacha, a son of the late General Sani Abacha, and Pecos Limited. The company described the reports as baseless and misleading.
In a statement, Malabu Oil & Gas Limited stated that its ownership is clearly documented in the records of the Corporate Affairs Commission (CAC). The company maintained that its ownership structure has always been transparent and publicly available.
The controversy surrounding Malabu Oil & Gas Limited has been ongoing for several years, with various parties making competing claims about the company's ownership.
The latest denial by Malabu Oil & Gas Limited raises questions about the credibility of earlier claims made by Mohammed Abacha and Pecos Limited. It is high time for the Corporate Affairs Commission to verify the company's ownership structure to put an end to the controversy. The Nigerian public deserves clarity on the ownership of Malabu Oil & Gas Limited, a company that has been embroiled in several high-profile scandals. The CAC's failure to act on the company's ownership records has allowed the controversy to drag on for far too long. As the Nigerian government continues to push for transparency in the oil industry, the Malabu Oil & Gas Limited saga serves as a stark reminder of the need for stronger regulations.
