Business News
Crisis Hits Abiola Family Over Oil Asset, Kola, Wuraola Accused of Fraud
The family of late MKO Abiola is currently embroiled in crisis following alleged fraud in one of his oil assets, Summit Oil Company Ltd.
This comes amidst speculations that Halliburton Energy Services Nigeria Ltd is approaching the company for unspecified business transaction. They have entered business with them in the past albeit under false representation by wura and kola and want to resume.
In response, four children of late MKO Abiola, Olalekan, Hafsat Abiola-Costello, Abdul Mumuni and Kafila Abiola have written to Halliburton Energy Services Nigeria Ltd to terminate any business deal with Summit Oil Company Ltd or face legal action.
The four children of late MKO Abiola are accusing Kola and Wuraola of perpetrating financial crimes and have gone ahead filed a formal complaint against them in the office of the Inspector General of Police.
They followed it up with a letter titled, "Urgent Warning to Halliburton and Anchor Point to Cease and Desist: Avoid Collusion with Fraudulent Management of Summit Oil Company Ltd", and addressed to the Managing Director CEO Halliburton Energy Services Nigeria Ltd.
In the letter, they introduced themselves as heirs and members of the family of the Late Chief M.K.O. Abiola and was writing to express their deep concern regarding Haliburton's recent agreement with Summit Oil Company Ltd.
The letter reads in part, "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, Kola Abiola and Wuraola Abiola.
"It has come to our attention that your company has entered into a partnership with Summit Oil, under the managemnent of these two fraudulent 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.
"When it is later determined that Kola Abiola and Wuraola Abiola have indeed misappropriated funds from Summit Oil Company, your company could face criminal charges for conspiracy and other related offences of aiding and abetting crime."