Oando denies Malta blending plant allegations

Oando Plc has vehemently denied claims circulating on social and digital media platforms that it owns a blending plant in Malta.

The energy conglomerate has also refuted allegations that it imports substandard fuel into Nigeria through a Maltese company named Raz Hansir Oil Terminal Limited.

In a statement released by the company secretary, Ayotola Jagun, Oando categorically dismissed the accusations, stating that neither the company nor its executives have any ownership, investment, or interest in the purported Maltese entity.

It reads, “We wish to refute such claims and attest that neither Oando PLC nor its Executives have ever held shares, investments, or interests in the fictitious Maltese company.”

To substantiate its claims, Oando conducted a thorough search of the Malta Business Registry, the official repository for all registered companies in the country.

The search yielded no results for a company named Raz Hansir Oil Terminal Limited. Further due diligence efforts also failed to uncover any evidence of the company’s existence.

It further noted, “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 the malicious intent of misleading the public and our stakeholders.”

The denial comes amid growing concerns about the quality of fuel being imported into Nigeria and the role of foreign entities in the country’s petroleum sector.

While Oando has strongly refuted the allegations against it, the issue of substandard fuel importation remains a pressing challenge for Nigerian authorities.