The court room was turbo-charged as prosecutors began a confiscation hearing to determine the amount of assets owned by the former governor. It was packed with journalists and some of Ibori's relatives, including his sister, Christie Ibie-Ibori, but Ibori himself was not in attendance.
But OANDO 's Corporate Communications Manager, Alero Balogun, said the company is a publicly traded one, therefore, the management doesn’t control transactions on the floor of the stock exchange.
She said: “We state categorically that Mr. James Ibori does not own ‘a large part of Oando’ and that this statement is incorrect and misleading. Oando is a publicly traded company listed on the Nigerian and Johannesburg Stock Exchanges and does not and cannot control the trading in its securities on the floor of the respective exchanges.
“Based on our current shareholding register, Mr. James Ibori’s shareholding stands at 443 shares out of a total issued and paid up share capital of 6.8 billion ordinary shares, which is clearly insignificant, and cannot be considered as ‘a large part of Oando.”
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