By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Oando Plc has requested First Registrars Nigeria Limited, its registrar to make available a list of its top 20 shareholders.

This is coming on the heels of the company’s response to the allegations regarding James Ibori, jailed former Governor of Delta State in a Statement made available to InvestAdvocate in Lagos Nigeria.

Oando said following its management’s address to market operators last Friday, it’s in no way part of the confiscation proceedings against Ibori nor have they received any invitation to attend or participate in any capacity in the trial.

The company said as this statement alludes to our shareholding in 2004; they have requested that its registrar provide a list dating back to 2004, highlighting its top 20 Compliance, shareholders. “We have been forthcoming and honest in relation to these allegations and will continue to do so,” Oando said.

“Oando Plc states that there is no suggestion from the prosecution of any wrongdoing or involvement by Oando,” the statement said.

According to Oando, on Wednesday September 18, 2013 in the said proceedings in the United Kingdom (UK), the Crown Prosecution presented the following evidence as proof of Ibori’s alleged 30 percent (30%) ownership in Oando Plc.

1. Ibori’s own statement to that effect as proof of his legitimate earnings when he attempted to open a bank account in Europe;

2. A statement attributed to Mr Ibori’s lawyer that, Mr. Ibori “…had a beneficial ownership related to a company called Ocean and Oil.”;

3. A statement from a foreign bank wherein it was stated “….that the Ibori family had a 30% share in Oando; and

 4. The oral evidence by the Prosecution Witness Detective Constable Clark that Ocean and Oil Ltd and Oando Plc are “…the same company but under a different name.”

The company said Ibori at no time in the history of Oando’s existence owned nor held a 30% stake in the company, “today Ibori owns just 443 shares, an insignificant stake for a company with an issued share capital of 6.8 billion ordinary shares and a current market capitalization of N63.6 billion,” Oando said.

Oando affirmed it cannot be held responsible for how a person represents themselves: We can only be held responsible for actions taken by the company and personnel within the organization. 

The contradictory evidence of the Prosecution does not establish Ibori’s claim and the shareholding register of Oando destroys it,” the statement said.

Oando reiterates its commitment to the principles and implementation of good corporate governance, and recognizes the dependence of long-term business prosperity on accountability to its shareholders”

As at the time of filling in this report, InvestAdvocate could not confirm from First Registrars if indeed Oando Plc wrote them requesting to make a list dating back to 2004, highlighting its top 20 Compliance, shareholders.

On Tuesday September 17, 2013, British prosecutor Sasha Wass told London‘s Southwark Crown Court that Ibori had revealed to a Swiss private bank in 2004 that he owned 30% of Oando, which paid $1.2 million into his account that year.