23 August 2017, Sweetcrude, Lagos – Aiteo Group has denied alleged corrupt relationship with the controversial Nigerian ex-Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, saying the allegation was “prejudicially designed to tarnish the image and reputation of the company as well as that of our Executive Vice Chairman”.
The company said in a statement in Lagos that “As some of these matters are sub-judice, we are unable to comment entirely on all issues raised. However, global best practice demands that we tender this rebuttal for the sake of shareholders, host communities, over 11,000 people who derive their livelihood from the company and the general public”.
It stated that: “At no time in our company’s history, has any of our directors or employees ever been involved in any form of criminal or immoral business, other conduct or activity with the former Petroleum Minister, any NNPC or other government staff or agent.
“Aiteo never benefitted from the Strategic Alliance Agreements referenced in the article. We were a major player in the Nigerian oil sector importing petroleum products for NNPC and exporting naphtha, fuel oil and condensates and already a flourishing and prosperous group by any standards long before Mrs Alison-Madueke’s appointment as Minister of Petroleum Resources.
“Aiteo’s core area of business has been the trading and distribution of sundry petroleum products since its inception in 1999. Furthermore, the NNPC has publicly confirmed that no Aiteo entity is indebted to NNPC or any of its subsidiaries”.
The statement maintained that the article in question purported that Aiteo had been linked to the alleged 2015 INEC bribery scheme but failed to state in which way it arrived at the conclusion simply because no such reality exists.
The company also stated that, that it is able to announce a production increase of 400% from about 23,000bpod a year ago to averaging over 90,000bpod, is a testament to the technical robustness of its work force and the prudence and professionalism of its management team.
