Malabu Oil and Gas Limited has dismissed recent statements by former Vice President Atiku Abubakar regarding the contentious OPL 245 dispute, stressing that he holds no ownership stake in the company and is not authorised to speak on its behalf.
In a statement, Malabu clarified that its ownership structure is strictly documented with the Corporate Affairs Commission (CAC) and is entirely separate from Mohammed Abacha or Pecos Limited.
The company added that previous court rulings have consistently rejected claims by third parties regarding ownership rights.
Referencing the federal government’s 2011 settlement on OPL 245, Malabu emphasised that all official engagements have been conducted solely with lawful shareholders.
The company further noted that ongoing legal actions by Mohammed Abacha and other parties do not confer any ownership rights over the asset.
Malabu urged the public and stakeholders to rely on verified official records when evaluating claims related to the OPL 245 dispute, stressing the importance of accuracy in understanding the legal and corporate status of the company.
