Abdulmumuni Pleads with Tinubu to Intervene in Summit Oil Dispute

Abdulmumuni, the son of late billionaire businessman MKO Abiola, has called on President Bola Tinubu to intervene in a dispute over the management of Summit Oil, a company founded by his father. Abdulmumuni accuses his half-brother, Kola, and his sister, Wura, of illegally running the oil company without the consent of other family members.

In a recent podcast interview, Abdulmumuni revealed that Kola and Wura had made themselves the Executive Chairman and Managing Director of Summit Oil, respectively, without anyone’s knowledge or consent. He stated that this was illegal and that the family had not been involved in the company’s operations since their father’s death.

Abdulmumuni noted that Tinubu, a friend of his father’s, should know about the situation and take action to prevent further issues. He expressed concern that if this dispute is not resolved, it could set a bad precedent for other companies and lead to widespread corruption.

The dispute surrounds Summit Oil’s operations, which Abdulmumuni claims have been shrouded in secrecy. He stated that the company had been lifting crude oil since 2017, and over $50 million had been transferred between Kola and Wura’s hands. Abdulmumuni wondered where the money was going and questioned why it was not declared.

Abdulmumuni also revealed that his brother had written a petition to the Inspector-General of Police to probe the company’s operations. He expressed frustration that his family was being deprived of their inheritance and accused Kola of fraud.

Summit Oil International Limited was founded by Abiola in 1990 and is considered a pioneer in the oil industry. The company was granted OPL 205, a concession in the Anambra Basin, and made its first oil discovery in 1992.

Abdulmumuni believes that the company has the potential to provide for his family and grandchildren, but he fears that the dispute will prevent this from happening. He is urging Tinubu to intervene and bring an end to the matter once and for all.