Around The world, News, People, What's Trending

Afren CEO sacked over Nigerian oil scandal

United Kingdom-listed independent oil and gas producer, Afren Plc, has dismissed its chief executive officer, Osman Shahenshah, and two others over payments involving Nigerian oil firm, Oriental Energy Resources.
Afren announced yesterday (Tuesday, October 14, 2014) that the law firm of Willkie Farr & Gallagher (UK) LLP had completed its independent review into the receipt of unauthorised payments by members of management and senior employees.
Oriental paid $45m in 2013 into a special purpose vehicle owned and controlled by Shahenshah and Ullah, who used the funds to pay bonuses to themselves and selected employees of Afren, according to the review.

“In connection with the conclusion of this review, the company has decided to terminate the employment and directorships of Osman Shahenshah and Shahid Ullah with immediate effect,” the company said in a statement published on its websit

Related Stories:

Comments

comments

About the Author