The Governor of Ondo State, Mr. Mimiko along with the management staff of the United Bank of Africa [UBA] has been petitioned to the Economic and Financial Crimes Commission [EFCC] over illegal withdrawal of N700million from an account domiciled at the UBA Lagos. The Governor was also charged with forgery – in the attempts forge the name of a preexisting company in order to continue to make withdrawals from the said accounts.
See the complete petition below –
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23 August 2012
The Chairman
Economic and Financial Crimes Commission,
15A, Awolowo Road,
Ikoyi, Lagos.
Dear Sir,
FRAUDULENT CONVERSION OF ASSETS OF OWENA OIL AND GAS LIMITED, FRAUD BY MR. GOKE ADENIYI & OTHERS AND OWENA ENERGY LIMITED
We hereby bring to your information and for necessary action the criminal activities of some persons incorporated as Owena Energy Limited acting under the cover of the Ondo State Government to perpetrate fraud against our Company.
BRIEF BACKGROUND
Owena Oil & Gas Limited is a private company duly incorporated in Nigeria in 2001 and jointly owned by the Ondo State Government (OSG) and Integrated Mineral Development Company Limited (IMDC). Sometime in year 2001, IMDC a firm of Mineral Development consultants and Investors approached the Ondo State Government under the governance of late Governor Adebayo Adefarati for the purpose of providing the Ondo State Government with Consultancy, Technical assistance and finance for the development of Oil and gas businesses that will include but not limited to establishment of a petroleum refinery, acquisition of oil assets, construction of an oil terminal, deep offshore supply base, etc on Public-Private-Partnership(PPP) model.
In line with this vision, Owena Oil and Gas limited a private company registered by the Ondo State Government with its nominees as shareholder was agreed to be the Joint Venture Company in the following ratio
- 30% equity participation – Ondo State Government
- 30% – Private Local Sector participants -IMDC
- 40% – Foreign Investors and Technical Partners (to be held by IMDC).
The referenced agreements were to serve as a pre operation/incorporation contract between the government of Ondo State and private sector participants led by IMDC. In pursuance of the agreement and MOU a validly convened board meeting of Owena Oil and Gas Limited was held to ratify the objects of the agreement and the necessary documents were filed at the Corporate Affairs Commission, Abuja in November 2001. IMDC nominated directors were appointed to the Board of Owena Oil and Gas Limited and shareholding equal to 30% of the Company’s authorized share capital was allotted to these IMDC directors to reflect the Agreement (Attached as ‘A’ are copies of the MOU, and forms filed at CAC in 2001). A successful bid was made for the acquisition of 45% interest in OML 95 ‘Ororo Field’ with the 55% going to Guaranty Petroleum Limited.
In 2007, Ondo State, as the Joint Venture partner of IMDC also assisted Owena Oil and Gas Limited to participate in the mini-bid round during which it bidded unsuccessfully for OPL-241, an exercise that saw Oilworld Limited emerge as the winner. Owena Oil and Gas Limited later acquired 80% farm-in-interest in OPL-241 leaving Oilworld with 20% interest in the block vide referenced Joint Operating Agreement (JOA) between parties, an activity supported financially with a ‘soft loan’ to the Company by the then Dr. Agagu led administration.
EFFORTS TO FRAUDULENTLY CONVERT THE ASSETS OF THE COMPANY AND TRANSFER SAME TO OWENA ENERGY LTD UNDER GOVERNOR MIMIKO LED
In 2009 one Mr Goke Adeniyi of Lake, Seas & Creeks 15B, Josep Street, Lagos Island, at the unilateral instance of the Ondo State Government led by Dr. Olusegun Mimiko illegally and without recourse to the Board and other shareholders took over the assets of the Company.
It is now emerging that since Mr. Goke Adeniyi was forced on the Company a total sum of about N700,000,000.00 million Naira held in 2 deposit accounts of the Company with United Bank for Africa Plc, Idowu Taylor Street, Victoria Island, Lagos has been withdrawn in obvious collusion with officers of the Bank and without authorisation of the Board and members of the Company .
It is also emerging that spirited attempts are also being made to illegally transfer the oil assets of Owena Oil and Gas Limited to a newly formed entity Owena Energy Ltd a private limited liability company in which they have personal interests as shareholders.
In further perfection of the above evil agenda, the promoters of Owena Energy Limited has been parading the company as if its a subsidiary of Owena Oil and Gas Ltd or a sister company where no such interest exist. Please find attached as ‘B’ the current CAC 2 and CAC 7 of both Owena Energy Limited and Owena Oil and Gas Ltd.
In view of the foregoing, we strongly believe that those behind Owena Energy Limited in the persons of Mr. Goke Adeniyi et al will not relent in their fraudulent pursuit of our Company’s assets for their personal parochial gain except they are forced to confront the law.
We therefore petition and urge that you use your good office to kindly have this matter investigated and verify the authority by which the fund was moved from the account and the use to which it was put by Mr. Goke Adeniyi without the knowledge and consent of the Board of the Company. Furthermore, we seek that you investigate and verify the part played by officers of United Bank for Africa in effecting this illegality. Also to ensure that the promoters of Owena Energy Limited and any other person(s) linked thereby in the fraudulent coversion of our Company’s assets are brought to book for their unlawful acts.
We thank you for your kind and prompt attendance to this matter of grave financial concern to, and continuing survival of Owena Oil and Gas Limited.
Thank you.
Yours faithfully,
For: Owena Oil & Gas Limited
Samuel Kolajo
Executive Vice-Chairman
