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Star Orient directors deny winding up action, ownership claims

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Star Orient PHOTO: Star Orient


Two Directors of Star Orient Nigeria Limited, an aviation fuel company in Lagos, have pushed back on an allegation of instituting a winding up proceeding on the “thriving” company.

The directors, Lanre Bamgbose and Isaaki Adewole, also dismissed claims made by the self-acclaimed chairman of the conglomerate, Babatunde Babalola, on ownership of Star Orient, its N1 billion financial crisis and attendant dwindling fortunes.

The Guardian recently reported the crisis rocking the Jet A1 depot, following an allegation that Babalola had threatened to bomb Star Orient office and the nearby Murtala Muhammed International Airport (MMIA), Lagos. Babalola denied nursing an ambition to bomb the public facility, as he explained his frosty relationship with the directors, and alleged winding up proceedings among others.

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Counsel to the duo of Bamgbose and Adewole, Ogbonnaya Agbafo, in a petition to The Guardian, countered Babalola’s claims, including denial of plans to destroy the depot and the international gateway next to it.

Agbafo stated that the winding up proceeding claims were false and malicious, as there is no such action in court.

“There is no action in court praying for the winding up of Star Orient Nigeria Ltd. Mr. Babalola had in fact lodged a frivolous petition based on false ownership of the company at AIG Zone 2 Police Command, over which a Police investigation report exists, showing the utter baselessness of his claims.

“That Mr. Babalola had in fact been to EFCC with the mission to scuttle investigation and had in fact, achieved his aim like he did with the Police Special Fraud Unit. Star Orient Nigeria Ltd is not a subsidiary of any other company and is not a member of any imaginary conglomerate howsoever styled.

“The so-called Discovery Airways Ltd (a defunct carrier owned by Babalola), is just a sham. It has no operational existence, no assets, no functional office, but has been a vehicle for fraud and is laden with onerous liabilities.

“Mr. Babalola’s threats to harm the internal Auditor of Star Orient Nigeria Ltd, and destroy the depot and all concerned with, is properly documented and Babalola himself had acknowledged the fact at a particular Police Station. Mr. Babalola, who is not a director of Star Orient, could not be the chairman of the Board of Directors, and that the basis of that Chairmanship is a trusteeship agreement, which if it exists, Star Orient is not a party,” Agbado stated in part.

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