About one month after submitting a petition to the inspector-general of police, Olukayode Egbetokun, on its failure to receive N1.4 billion dividends accrued from 10,775,299 and 17,425,300 share units in a commercial bank; Southern Grace Investment Ltd and Globular Trading Investment Services Ltd, affiliates of Aquitane Oil and Gas Limited, are yet to get their dividends.
Aquitane Oil and Gas Limited had submitted a petition dated October 11, 2024 to the IGP, however, despite the directive for the Force Criminal Investigation Department (FCID) to handle the issue, nothing has yet been heard as the firms said they had not received their dividends.
In the petition submitted through Lukman Fagbemi & Co, the petitioner urged the IGP to investigate the commercial bank which is yet to resolve the issue or pay the dividends and is alleging forgery of statement of account belonging to Aquitane Oil and Gas Limited.
Our investigation showed that some staff of the bank were invited for questioning and failed to honour a police invitation over the ongoing probe.
Aquitane Oil is alleging that the bank falsified its account statement in an elaborate effort to conceal the non-payment of the dividends of the shares of the two subsidiary firms.
The company said the two subsidiaries had not been paid their dividends since the purchase of the shares in 2008.
Aquitane Oil and Gas Limited stated that dividends of 10,775,299 and 17,425,300 units of the bank shares bought by Southern Grace Investment Ltd and Globular Trading Investment Services Ltd had not been paid to the firms since 2008.
The firm said in 2020, Southern Grace and Globular Trading realised that following the discovery, all efforts to get the payment proved abortive.
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