Our attention has been drawn to recent articles published in various online and print media and more particularly on Sahara Reporters website on the 25th and 26th of July, 2012 relating to the ongoing fuel subsidy probe and arraignment of Ontario Oil and Gas Limited (the Company) and its directors by the Economic and Financial Crimes Commission (EFCC), for alleged complicity in relation to the offence of conspiracy, obtaining money by false pretence and forgery.
In reaction to the said articles and without prejudice on the ongoing investigation and criminal charges filed against the Company and its directors , we wish to state clearly that the Company and all of its directors refute all the baseless and unfounded allegations contained in the various media publications and for the record state as follows:
- The Company specifically denies that it ever handed over any sum of money whether US$300,000,000 (Three Hundred Million Dollars) or any sum whatsoever to any public official towards the campaign for election of President Jonathan in 2011.
- That the Company or its directors never purchased any property for any federal minister, in Abuja or any other state of the Federation worth N600,000,000 (Six Hundred Million Naira) or any other sum whatsoever.
- That none of the Directors is in possession of and/or aware of any private jet purportedly purchased or being held in trust for any public official.
- That the Minister of Niger Delta Affairs is not and has never been a director of Ontario Oil and Gas Limited or any of its affiliates.
Whilst we appreciate the obligations of the press to circulate information on topical issues, we believe this obligation should be carried out with utmost ethical standards and should not allow itself to be used for any character assassination by disgruntled persons.
Ontario Oil and Gas Limited as a general rule does not engage in any political alliance nor does it involve itself in any issue relating to the press. However, we have chosen to respond to the Sahara Reporters article in other to clarify the series of incorrect and misleading allegations against our Company and its directors.
Our Company is law abiding and remains fully committed to meeting its obligations. We therefore use this opportunity to assure our partners, clients and general public that we remain dedicated to utmost ethical standards in carrying out our Company’s objectives and would appreciate your support in this trying time.
Sahara Reports: Oil Subsidy Fraud Suspects Funneled Nearly $1billion To Jonathan Election Campaign
Some of the high profile suspects arraigned on Wednesday for stealing $6.8 billion oil subsidy funds have sent a strong warning to President Goodluck Jonathan to desist from prosecuting them or face a full disclosure of how they funneled close to
$1 billion towards his 2011 presidential campaign through the oil resources minister Diezani Allison-Madueke and the Minister for the Niger Delta, Godsday Orubebe.
SaharaReporters sources say that operators of Ontario Oil and Gas Limited, whose Managing Director, Adaoha Ugo-Ngadi, was docked along with 20 others, have compiled information that was sent to President Jonathan that includes:
• How they specifically handed over $300 million through the Minister for Petroleum Resources, Allison-Madueke, towards the election of President Jonathan in 2011; and
• That they bought a mansion for Mr. Orubebe in Abuja worth N600 million.
Saharareporters learned that the accused Ontario Oil chieftains were shocked by the public humiliation brought upon them by the EFCC. The most powerful member of the Ontario clan, Walter Wagbatsoma, reportedly left Nigeria for Paris shortly before the commencement of prosecution by the EFCC.
Meanwhile, EFCC officials have confirmed to SaharaReporters that Mr. Wagbatsoma has not written any statement or appeared before the agency even though he was listed as one of those to be arraigned by the EFCC. He is believed to have the key to unlocking the involvement of Mrs. Diezani Allison-Madueke in the oil subsidy fraud.
Specifically, Wagbatsoma is reportedly in possession of a private jet bought last year that he is holding in trust for Mrs Allison-Madueke. A source in Abuja also said that Mr. Orubebe is on the board of Ontario Oil, although he may not be publicly listed. Wagbatsoma is listed as the owner of several companies used to siphon off funds from the oil industry, they include: Ontario oil & gas Ltd., Ontario trading Ltd, Ontario storage terminals Ltd., ontario vessels Ltd., Ontario Drilling and Engineering services.
In Lagos today, the prosecution suffered another setback as the court adjourned following the failure of Wagbatsoma to appear at the trial. The proceedings were equally stalled yesterday by the absence of the Attorney General of the Federation, Mohammed Bello Adoke.
Sources knowledgeable about the intrigues surrounding the trial have already predicted that due to the current threat to expose President Jonathan and some of his most powerful ministers, the case will fizzle out over time.