Who Owns Oando Oil?
Published: 18 September 2013 By Abiodun Giwa
The news that former Nigeria's Delta State governor, James Ibori, serving jail terms in London for corruption owns substantial stake in Oando, has sets tongues wagging about who owns the company, and whether the world has heard the whole truth about the corrupt connections that may have given life to the company.
Wale Tinubu is the chief executive officer of Oando. He is a nephew to Bola Tinubu, former governor of Lagos State and leader of APC, Nigeria's opposition party in the South West of the country. As chief executive of Oando, he has been telling stories of what is reminiscent of poverty to riches; of a man who rose from servicing a leaking vessel to become the African King of Oil.
Of course, he has never mentioned anything like Ibori having a substantial share in the company at anytime or that the company has ever helped Ibori transferred such a large amount of money, as papers unsealed in a London country has revealed. Just as he has never mentioned Bola Tinubu having any interest in the company. And if the has not been a leak about Ibori's interest, everything would have continued like the company has no connection in anyway with Ibori.
Wale said in an interview posted on Youtube video that he started early at the age of 25, and with an interview with a magazine such as Forbes, the impression is that Wale may have hit the gold on his own without any corruptible influence. There are people who are vouching for Wale that he comes from a well-to-do background and that Oando is his baby.
People are saying that there is nothing specifically weird in anyone hitting the gold, but how one hits that gold is the moral question that will need to be addressed. For a long time, people have been asking questions as to who owns Oando. Wale's last name and relationship to Bola Tinubu has made people to often think that the company may be Bola Tinubu's, and that Wale may just be fronting for the Nigerian politician who is now considered to be one of the richest Nigerians who ever lived.
And the question is still making its round like the debate in Nairaland publication about whether Wale has merely tapped his uncle's connections to get what he wants, like the connection to Ibori that ensures the felon's shares in the company, and cementing a relationship so close that the company will agree to transfer such an amount for him? And if the case is otherwise, how much does Bola Tinubu owns in Oando? This question has become imperative, people say, because if Ibori could have shares in Oando, there is no way he could have and Wale's uncle would not.
Many Nigerians have said that sources of wealth are often stinking that one may just not bother to seek how some people get to own what they claim belong to them. The same is true of the web of corruption in Nigeria, where corruption is almost becoming like water for humans, and without which life will be impossible to live.
At the end of the day, the question will dovetail to the sources of Bola Tinubu's wealth; his-net worth before he became a governor, and how much his net-worth has transformed into after he left the governor's lounge?
It will have effect on his political leadership in the country, and the claim that he is the one who has solution to the country's problem, because people will no longer buy his political pronouncements with this connection with Ibori, and that will make the APC a lame duck as an opposition party.
Wale Tinubu is the chief executive officer of Oando. He is a nephew to Bola Tinubu, former governor of Lagos State and leader of APC, Nigeria's opposition party in the South West of the country. As chief executive of Oando, he has been telling stories of what is reminiscent of poverty to riches; of a man who rose from servicing a leaking vessel to become the African King of Oil.
Of course, he has never mentioned anything like Ibori having a substantial share in the company at anytime or that the company has ever helped Ibori transferred such a large amount of money, as papers unsealed in a London country has revealed. Just as he has never mentioned Bola Tinubu having any interest in the company. And if the has not been a leak about Ibori's interest, everything would have continued like the company has no connection in anyway with Ibori.
Wale said in an interview posted on Youtube video that he started early at the age of 25, and with an interview with a magazine such as Forbes, the impression is that Wale may have hit the gold on his own without any corruptible influence. There are people who are vouching for Wale that he comes from a well-to-do background and that Oando is his baby.
People are saying that there is nothing specifically weird in anyone hitting the gold, but how one hits that gold is the moral question that will need to be addressed. For a long time, people have been asking questions as to who owns Oando. Wale's last name and relationship to Bola Tinubu has made people to often think that the company may be Bola Tinubu's, and that Wale may just be fronting for the Nigerian politician who is now considered to be one of the richest Nigerians who ever lived.
And the question is still making its round like the debate in Nairaland publication about whether Wale has merely tapped his uncle's connections to get what he wants, like the connection to Ibori that ensures the felon's shares in the company, and cementing a relationship so close that the company will agree to transfer such an amount for him? And if the case is otherwise, how much does Bola Tinubu owns in Oando? This question has become imperative, people say, because if Ibori could have shares in Oando, there is no way he could have and Wale's uncle would not.
Many Nigerians have said that sources of wealth are often stinking that one may just not bother to seek how some people get to own what they claim belong to them. The same is true of the web of corruption in Nigeria, where corruption is almost becoming like water for humans, and without which life will be impossible to live.
At the end of the day, the question will dovetail to the sources of Bola Tinubu's wealth; his-net worth before he became a governor, and how much his net-worth has transformed into after he left the governor's lounge?
It will have effect on his political leadership in the country, and the claim that he is the one who has solution to the country's problem, because people will no longer buy his political pronouncements with this connection with Ibori, and that will make the APC a lame duck as an opposition party.
Comment Box is loading comments...
