Modupe Gbadeyanka
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has been given the permission to arrest the Managing Director of Mobil Oil Nigeria Plc (11 Plc), Mr Richard Laing, after he allegedly failed to honour invitations from the anti-graft agency.
The EFCC, in a statement on Wednesday, disclosed that the authorisation for the arrest of Mr Liang was given by Justice Okon Abang of the Federal High Court sitting in Abuja.
According to the commission, the application for a bench warrant on the ExxonMobil Nigeria chief was granted on Friday, January 29, 2021.
The EFCC explained that three invitations to Mr Liang to aid its investigation into an alleged procurement fraud in the Major Integrity Pipelines Project involving Mobil Producing Nigeria as the contracting company, Suffolk Petroleum Services Limited as the main contractor, Saipem Contracting Nigeria, Global Offshore Limited and Van Ord as sub-contractor to SPSL were rebuffed by him.
The frustration of ignoring its calls led the agency to approach the court to obtain an order to apprehend him to answer questions relating to the alleged fraud to the tune $213 million.
Mobil Oil is one of the oil companies trading their shares on the Nigerian Stock Exchange (NSE). Yesterday, the value of the company’s stocks remained unchanged at N228 each, with 32,153 units traded by investors.
It is not certain if the news of the intended arrest of its chief executive would affect its share price at the market on Thursday.
