The attention of our law firm has been drawn to a recent publication in Newswire, a popular Law Blog in Nigeria in which an unknown group with no address by name Coalition of Public Interest Lawyers and Advocates purportedly informed the members of the public that they have renewed their call to Economic and Financial Crimes Comission (EFCC) to probe Dr Uche Sampson Ogah, the Minister of State on Mines and Steel( whom we hereafter referred to as our “Client”) for forgery and financial crimes over a transaction he had with one widow, Mrs Bridget Adeosun while running his private business before he joined politics. 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. It is our belief once again that this straightforward matter as explained below will permanently shut the mouth of our client’s detractors. On our part 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.
BRIEF FACTS OF THE CASE.
Sometime ago, before our client ever thought of entering politics, one Mrs Bridget Adeosun, a Director of Mut-Hass Petroleum Ltd was introduced to Masters Energy Oil & Gas Ltd, our client’s company as a struggling lady who has interest in Oil and Gas Sector but does not possess the necessary capacities and facilities like Storage Tank to consummate a business transaction her company had with Petroleum Products Pricing Regulatory Agency(PPPRA) that gives Permit to import fuel into the country.
On the 2nd of February, 2011, the said Mrs Bridget Adeosun, requested Masters Energy Ltd through a letter from her Company that our client’s company should execute an Agreement known as ThroughPut Agreement through which Masters Energy Ltd will confirm that they will be ready to offer a space in their Depot to store Mrs Adeosun’s petroleum products if her company is given allocation to import the product.
Masters Energy Ltd replied to her letter by acceding to her request that they shall offer the storage facility to the intended product whenever the permit is granted to her by the Ministry of Petroleum Resources. In addition, Masters Energy Ltd executed the ThroughPut Agreement dated 10th of February, 2011.
These above mentioned documents are available for inspection. They are:
- Letter from Mut-Hass Petroleum Ltd of Mrs Adeosun dated 2nd Feb., 2011.
- Letter from Masters Energy Oil & Gas Co, Ltd.
- The ThroughPut Agreement dated 10th of February, 2011
This said ThroughPut Agreement was submitted to DPR by Mrs Adeosun of Mut-Hass Ltd for issuance of the permit and thereafter on the 10th of May, 2011, DPR wrote to Masters Energy Ltd for confirmation of the executed ThroughPut Agreement.
On the 11th of May, 2011 Masters Energy Ltd wrote to confirm the ThroughPut Agreement.
These documents mentioned above are all available for inspection. They are:
- The letter from DPR to Masters Energy Ltd.
- The letter from Masters Energy Ltd to DPR.
On the 12th of April, 2011, Mrs Bridget Adeosun returned to Masters Energy Ltd with a Permit to Import 10,000 metric tons of Premium Motor Spirit (PMS) issued to Mut-Hass Petroleum by PPRA.
- The said Permit Letter dated 5th April, 2011 is available for inspection.
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 for an agreed sum of N=26,820,000(Twenty-Six Million, Eight Hundred and Twenty Thousand Naira only) calculated at N=2.00 per litre, as full and final consideration for the transaction.
- The Agreement(MOU) in which she transferred all the company’s interest in the Allocation to Masters Energy Ltd is available for inspection.
- The invoice for the Allocation dated 6th May, 2011 is available for inspection.
- The Photocopies of the Cheques received by Mrs Adeosun from Masters Energy Ltd as full and final payment for the petroleum products are available for inspection.
Mrs Bridget Adeosun deposited these cheques in an account she opened at ECO bank, where she is a sole signatory. We also have that Statement of Account.
Further to this memorandum of understanding wherein all the interests in the allocation was passed to Masters Energy Ltd, requisite and ancillary documents such as Account Opening Forms, Company Resolution for Account Opening were duly executed by officers of Mut-Hass
Petroleum Ltd to the benefit of Masters Energy Ltd. THIS PROCEDURE WAS NECESSITATED BY THE FACT THAT THE TRANSACTION COULD ONLY BE EXECUTED THROUGH THE BANK ACCOUNT OF THE COMPANY(Mut-Hass Ltd) IN WHOSE NAME THE PERMIT WAS ISSUED.
On 4th August, 2011, Masters Energy Oil and Gas Ltd made payment for the said 10, 000 metric tons of PMS through Mut-Hass UBA Account opened for the purpose of the transaction via the establishment of a Letter of Credit(L/C).
On the 6th of September, 2011 the imported product was delivered into Masters Energy storage tanks and was certified by relevant government agencies.
The Sovereign Debt Note for payment of the cost under-recovery (otherwise called subsidy) was issued on 15th November, 2011 by the Federal Government to Masters Energy Ltd in the name of Mut-Hass Petroleum Limited (being the name in which the import permit was issued).
The value of the Sovereign Debt Note was supposed to be utilized by Masters Energy Ltd to offset part of the cost of the importation.
Due to the delay in the payment on the Sovereign Debt Note by Federal Government of Nigeria, the transaction incurred some foreign exchange differentials occasioned by Dollar rate fluctuation as at the time of importation valued at N=51,884,,159.95(Fifty one million, eight hundred and eighty four thousand, one hundred and fifty nine Naira, ninety five kobo).
Masters Energy Ltd applied to the Government for the differentials in the foreign exchange transaction.
Surprisingly, it was discovered that Mrs Bridget Adeosun through Mut-Hass Ltd had written to Petroleum Products Pricing Regulatory Agency(PPPRA) requesting that the accrued interest and foreign currency differentials be paid to her company on a transaction she has no interest after transferring all her rights and liabilities to Masters Energy Ltd.
Masters Energy was shocked. It was also found that the said woman had purportedly passed a Board Resolution through her company to change the SIGNATURE OF THE UBA ACCOUNT BY ADDING HERSELF AS AN “A” SIGNATORY IN PREPARATION FOR THE MONEY(the accrued interest and foreign exchange differentials) the Federal Government was to pay to the importing company which by agreement is Masters Energy Ltd even though payment will still be made in the name of Mut-Hass Ltd.
Masters Energy Ltd 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 Ltd.
The court in Abuja issued an injunction against the payment and directed that the money should be deposited with the Registrar of the Court in an interest yielding account of any reputable Bank.
The above mentioned documents are verifiable. They are:
- The Board Resolution of Mut-Hass Petroleum Ltd
- The court order granting an injunction against the payment of the money to Mut-Hass Ltd.
When Masters Energy succeeded in obtaining this Court Order against Mut-Hass Ltd, heaven was let loose.
Driven by an unprecedented greed and avarice ever exhibited by any human being, Mrs Bridget Adeosun literally got mad and wrote petitions upon petitions to all the Security Agencies in Nigeria including EFCC alleging “forgery” of her signature and that of other directors in all the agreements she signed, including the Board Resolutions authorizing Masters Energy to run the UBA Account of Mut-Hass Ltd for the purpose of this particular transaction.
All the security agencies investigated the said allegation and found no substance in it. However, Inspector General of Police initiated a criminal charge but When the Police saw the futility of the charge and knowing their inability to secure any conviction with the alleged frivolous charge, they withdrew the charge immediately and UP TILL NOW THERE IS NO OTHER CRIMINAL CASE IN COURT AGAINST OUR CLIENT OR HIS COMPANY CONCERNING THIS FALSE ALLEGATION.
The following documents are verifiable. They are:
- The various petitions to several Security Agencies.
- The Charge and withdrawal of same by the Police. The above history and facts are the true account of what transpired between Masters Energy Oil & Gas Ltd company and Mut-Hass Petroleum Nigeria Ltd owned by Mrs Bridget Adeosun. Two important posers to puncture any allegation of forgery are as follows:
- The sum of N=26,820,000(Twenty-Six Million, Eight Hundred and Twenty Thousand Naira) which Mrs Bridget Adeosun collected from Masters Energy Ltd and which she receipted, and paid into her bank Account in Eco Bank was for what purpose?
- If she is alleging that her Company’s UBA Account that was operated for the importation transaction was fraudulent and its documents forged by Masters Energy Ltd, how come the same woman who allegedly knew nothing about the said UBA Account got her company to pass a Board Resolution in which she wanted to become the “A” signatory in preparation to have control of the anticipated differentials the Federal Government was about to pay to Mut-Hass Ltd being the importing company of the PMS?
Truth remains that “CONSCIENCE is an open wound, only truth can heal it”
Our client is not ignorant of those behind this constant and fruitless mudslinging, and as usual, he promises them fatal failure. Big shame to them as EFCC is very busy with real criminal cases involving the high and mighty in the country and will not be asked to engage in shadow chasing of NON EXISTENT CRIME OF FORGERY AND IMAGINARY FINANCIAL CRIMES.
That is the truth, the whole truth.
Signed.
Monday O. Ubani Esq.
Legal Practitioner.
