N1.2bn Slush Fund Report ‘Misleading, Grossly Inaccurate’, Says Igho Sanomi’s Televeras

Igho Sanomi’s Televeras Group has denied online reports that it was embroiled in a case against the Atlantic Drilling Fluids by the United States Department of Justice in Houston.

Reports had alleged Televeras Group as being instrumental to a “mega-swindle of Nigeria” in a $1.2 billion slush fund scandal, where Atlantic Energy Drilling Concepts Nigeria Ltd was reportedly indicted.

But Televares, a leading global energy and services company, in a statement sent to The Whistler, described some of the publications as “misleading and grossly inaccurate”.

The company said against claims that it was involved in the assets forfeiture proceedings filed against Atlantic Energy Drilling Concepts (AEDC) Limited by the United States Department of Justice, neither the company, or its Chairman, Igho Sanomi, was faulted in the case.

Televares said it adhered to International trading standards and played its part in the contract.

The statement reads in part: “The attention of Taleveras legal team have been drawn to online publications related with a case against Atlantic Drilling Fluids, this legal case is not against Taleveras or Igho Sanomi.

“Some of these publications are misleading, grossly inaccurate, it is thus proper to set the record straight.

“One of Taleveras core activities since 2000, is sourcing, trading and engaging in third party contracts, inclusive of oil and gas upstream operations. Taleveras due to its capacity, trading expertise and financial strength, continues to source and engage in procuring third party oil contracts.

“Taleveras performs on these contracts handling the physical delivery, risk management and logistics from start point to its numerous first class end users and major refiners.

“This process involves verification of the contracts with the issuing authority to authenticate and further compliance with our lending banks internal due diligence processes. This is no different from International trading standards performed by the numerous international and major oil and gas companies operating in Nigeria.

“As it relates to the US department case against Atlantic drilling fluids, please note that Taleveras and the other two major oil trading houses (glencore and arcadia) were not faulted for embarking on a legitimate transaction, as all payments were made based on legitimate third party contracts with private companies and not NNPC.

“The ultimate aim of contracting is to off-take crude oil from asset productions. It is worthy to note that neither Taleveras nor its associated companies lifted any oil from this production. Terms of the agreement were breached and hence a legal dispute and appropriate filings made in respected court of jurisdiction.”