Afolabi Oyedeji Oladele, has refuted reports naming him and and two retired principals of African Capital Alliance, Paul Kokoricha and Kisito Okpere, as debtors to AMCON.
According to Oladele, a list reportedly released by AMCON naming its biggest debtors had wrongfully included their names as they have no connections with Minaj Holdings Limited, a named obligor.
“The three of us were principals of ACA and have nothing to do with Minaj,” Oyejide told BusinessDay.
He explained that issues with AMCON might be with DWC Drilling limited, a company ACA had invested in.
Oladele and the former ACA executives were nominated directors representing the interest of ACA in DWC hence have nothing to do with loans the drilling company took from intercontinental Bank before they became directors.
A letter issued by Gbenga Biobaku & Co., Company Secretary to DWC Drilling Limited, and seen by BusinessDay clarified that Oladele was only on the board of DWC to represent ACA interest.
The letter states in part that “ Mr Afolabi Oyedeji Oladele is not a shareholder of DWC Drilling Limited. Whilst Mr Oladele is a director of DWC, he is not a director in his personal capacity”
SEGUN ADAMS
