Renewed calls for my probe over business transaction malicious – Ogah

The Minister of State for Mines and Steel, Dr. Uche Ogah, has said that the renewed calls for his probe over a business transaction which he has been investigated and cleared years ago by law -enforcement agencies is an act of political malice.

Some group of lawyers under the aegies of Coalition of Public Interest Lawyers and Advocates had issued a statement published in some online platforms calling for Ogah’s probe over the transaction he had with one Mrs. Bridget Adeosun, while running his private business before he joined politics.

Reacting to the publication, legal counsel to Ogah, Monday Ubani, in a statement said that the renewed attempt to cast aspersion on his client’s personality over a matter which the Economic and Financial Crimes Commission, (EFCC), the police and the court have cleared him, is clearly the handiwork of blackmailers.

Ubani said: “We consider this act of defamation as pure blackmail which ordinarily should not have deserved the attention of our client, but for the informed  members of the public who may not be apprised of the facts of this case, we have set out patiently to put the records straight.

“We are not ignorant that these blackmailers are mere dancers whose drummers are in the thick bush and certainly they shall be unveiled very soon.

“Our client is not ignorant of those behind this constant and fruitless mudslinging, and as usual, he promises them fatal failure.”

Ubani said that one Mrs. Bridget Adeosun, a director of Mut-Hass Petroleum Limited was introduced to Masters Energy Oil & Gas Limited, Ogah’s company as someone, who does not possess the necessary capacities and facilities to consummate a business transaction her company had with Petroleum Products Pricing Regulatory Agency(PPPRA).

He stated that Mrs. Adeosun, officially requested Masters Energy Limited to offer a space in their depot to store her petroleum products if her company is given an allocation to import the  product.

“On the April 12, 2011, Mrs. Adeosun returned to Masters Energy Limited with a oermit to import 10,000 metric tons of Premium Motor Spirit (PMS) issued to Mut-Hass Petroleum by PPRA.

“Upon receipt of the Permit from PPRA, Mut-Hass Ltd through Mrs Adeosun complained of her inability to fund the transaction(importation) due to lack of funds and experience.

“She therefore offered to transfer to  Masters Energy Ltd the entire interest of her company in the allocation worth N26,82 million calculated at N=2.00 per litre, as full and final consideration for the transaction.

“Mrs. Bridget Adeosun deposited these cheques in an account she opened at Ecobank, where she is a sole signatory,” the counsel added..

Ubani narrated further that due to the delay in the payment for the transaction by the federal government, including the incurred foreign exchange differentials occasioned by dollar rate fluctuation, Masters Energy Limited applied for the differentials in the foreign exchange transaction.

“Surprisingly, it was discovered that Mrs. Adeosun had written to the PPPRA, requesting that the accrued interest and foreign currency differentials be paid to her company.

“Masters Energy initiated action immediately to stop the federal government from paying her company the said money, as the said sum rightly belonged to Masters Energy Oil & Gas Limited.

“When Masters Energy succeeded in obtaining the court order against Adeosun and her firm, heaven was let loose,” he said.