An indigenous energy company, Oando PLC, has announced it will take legal action against those spreading false allegations concerning its $783 million acquisition of Nigeria Agip Oil Company (NAOC).

In a statement on Monday and signed by its spokesperson, Ayotola Jagun, Oando alleged that certain persons and entities are spreading misinformation regarding the acquisition of NAOC.

Jagun stated that the allegations are aimed at damaging the company’s reputation and emphasized that such defamatory actions will not be tolerated.

He further mentioned that the company has instructed its legal team to closely monitor the situation and collect evidence against those spreading false information about the deal, with the intention of pursuing legal action.

The company reaffirmed its commitment to integrity and transparency in all its dealings, urging stakeholders and the public to rely on official communications from the company, and disregarding any rumours or unverified information.

Oando said it values the trust and confidence of its stakeholders and is dedicated to maintaining open and honest communication, reassuring that the NAOC/Oando transaction was conducted with the utmost integrity and adherence to regulatory standards.