Four children of late MKO Abiola have warned Halliburton Energy Services Nigeria against doing business with Summit Oil company. Summit Oil was fou
Four children of late MKO Abiola have warned Halliburton Energy Services Nigeria against doing business with Summit Oil company.
Summit Oil was founded by Abiola, the presumed winner of the 1993 presidential election, in 1990 to embrace the independent indigenous upstream oil company concept.
In a letter, the children said they are aware that Halliburton signed a partnership deal with Summit Oil to re-work and work the oil well for return of production.
The letter, which was addressed to the CEO of Halliburton, was signed by Olalekan Abiola, Hafsat Abiola-Costello, Khalifa Abiola, and Abdul Mumuni Abiola.
The aforementioned persons alleged that Summit Oil is enmeshed in a legal dispute over allegations of fraud and misappropriation of funds by two other members of the Abiola family, Kola Abiola the first son of the late business man and politician as well as one of his siblings, Wuraola.
“We, the undersigned heirs and members of the family of the Late Chief M.K.O. Abiola, are writing to express our deep concern regarding your company’s recent agreement with Summit Oil Company Ltd,” the letter reads.
“As you may be aware, Summit Oil Company, being a legacy company formed by our late father, is currently embroiled in a serious legal dispute involving allegations of fraud and misappropriation of funds by two members of the Abiola family.
“It has come to our attention that your company has entered into a partnership with Summit Oil, under the management of these two persons, to re-enter and work the Oil Well to bring it back to production.
“We believe that such decision of yours is fraught with significant risks and could have serious legal consequences for your company.
“By entering into that agreement, your company may be inadvertently aiding and abetting a fraudulent scheme.
“Furthermore, your company could also be subject to civil lawsuits, both in Nigeria and internationally, for engaging in business dealings with a company that is under investigation.
“Such lawsuits could result in significant financial damages and reputational harm to your company.”
The four siblings have also petitioned the Inspector General of Police, Kayode Egbetokun over alleged diversion and misappropriation of their father’s estate.
They accused the two siblings of self-appointing themselves as directors of Summit Oil without their knowledge.
They also claimed that the duo entered into unauthorized business transactions using their father’s company.
They asked the IGP to investigate the actions over serious breach of trust and violation of the law.
