One of the trios that make up the Sahara Group, Tonye Cole and one of the many who benefitted from former oil minister, Diezani Allison-Madueke’s busi
One of the trios that make up the Sahara Group, Tonye Cole and one of the many who benefitted from former oil minister, Diezani Allison-Madueke’s business generosity, has resigned his position as an executive director to join active politics. Tonye Cole, who co-founded the company in 1996, will be contesting for the gubernatorial seat in Rivers under APC.
Tonye Cole was one of the few oil magnates who benefited immensely from former petroleum minister, Diezani Alison-Madueke’s administration. Recall that EFCC operatives found significant information regarding how former oil minister, Diezani Alison-Madueke used the firm to funnel funds to third parties. The funds in question amounted to close to $400 million. Sahara Energy was named as one of the firms that reaped hundreds of millions of dollars through crude oil swap deals introduced by Alison-Madueke during her time as minister. The former minister’s offshore processing agreement with Sahara Energy also involved the owner of Aiteo, Benny Peters, Atlantic Energy, owned by Jide Omokore, and a fugitive businessman, Kola Aluko.
“The Board and management of The Sahara Group of Companies wishes to inform the general public and other stakeholders that one of our co-founders and Executive Director, Mr Tonye Patrick Cole has formally informed the Board of his decision to participate in active politics. The Sahara Group wishes to state for the record that as a non-political and non-partisan group, it is not affiliated to any political party in any country we operate in and does not engage in Nigerian politics. Cole’s decision to participate in active politics is his individual preference and choice to which he is entitled. In accordance to Sahara Group’s Corporate Governance Charter and International best practice which prohibits any of our key Management or Board members from partaking in active politics, promoting or supporting any particular political organization or ideology, Mr Tonye Cole has resigned all his Board appointments and day to day responsibilities for the Sahara Group companies and its affiliates with immediate effect,” the company stated on its website.
The minister of transport, Rotimi Amaechi is said to be the force backing Tonye Cole’s candidacy, although he has denied this. Tonye Cole is set to slug it out with other aspirants such as Senator Magnus Abe, Chief Dumo-Lulu Briggs, Director General of NIMASA, Dakuku Peterside and former Senior Special Adviser to ex-President Goodluck Jonathan, Bekingbo Dagogo-Jack.
