Senior Advocate of Nigeria (SAN), Joe Kyari Gadzama, has denied any involvement in alleged mediation surrounding the lifting of a court-ordered restriction on corporate filings related to OML 40 at the Corporate Affairs Commission (CAC).

In a detailed statement, Gadzama firmly rejected claims linking him to the controversial development, stressing that he had no direct or indirect dealings with the corporate filings in question, the CAC Registrar-General, or any of the parties involved.

Describing the allegations as baseless, Gadzama said suggestions that a “mediator linked” to him facilitated any improper action were “a deliberate and wicked fabrication.”

The senior lawyer, who noted that he has practised law for nearly four decades, emphasised his long-standing commitment to integrity, transparency, and strict adherence to the rule of law. He highlighted his previous role as Chairman of the Body of Benchers Mentorship Committee, a position he said demands the highest level of moral authority and public trust.

“To suggest that I would lend my name, or allow anyone associated with me to lend my name, to an act that undermines a subsisting court order or compromises the integrity of a public institution like the CAC is deeply offensive to everything I stand for,” Gadzama stated.

He called on relevant anti-corruption and law enforcement agencies to thoroughly investigate the allegations against the CAC Registrar-General and ensure that the law is applied should any wrongdoing be established.

Background to the OML 40 Controversy

SaharaReporters had earlier reported fresh allegations involving the Registrar-General of the CAC, Ishaq Hussaini Magaji (SAN), over claims that he quietly lifted a court-imposed restriction on corporate filings connected to OML 40, an oil-producing asset linked to billionaire businessman Sir Emeka Offor.

Sources familiar with the matter alleged that the restriction, imposed in 2023 amid internal corporate disputes, prevented a company associated with OML 40 from effecting board changes or filing corporate resolutions at the CAC.

According to the reports, the restriction remained in force until a change in the Commission’s leadership. Shortly after Magaji assumed office, the restriction was allegedly lifted without public notice, procedural explanation, or official disclosure.

Sources said the reversal coincided with sensitive transactions involving Seplat Energy Plc and Starcrest Nigeria Energy Limited, companies connected through a joint venture structure controlling OML 40.

OML 40 is reportedly operated through Elcrest Exploration and Production Company Limited, a joint venture in which Elcrest holds a 45 per cent stake, while the remaining 55 per cent is owned by the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Company Limited (NNPCL).

Further details indicate that Starcrest Nigeria Energy Limited, part of the Chrome Group owned by Emeka Offor, allegedly controls 55 per cent of Elcrest, while Seplat Energy, through its subsidiary Eland Oil and Gas Limited, owns the remaining 45 per cent.

Sources also revealed that in May 2023, Seplat’s management was suspended and its corporate filings blocked at the CAC following a court order arising from shareholder disputes — a restriction said to have been strictly enforced by the former Registrar-General.