Presco Plc (NGX PRESCO) has issued a statement refuting a report from the Vanguard newspaper dated November 26, which claimed that the Edo State Government had revoked its Certificate of Occupancy for the Ologbo Estate.
In the official disclaimer released today on NGX, Presco Plc stated that the report did not originate from Governor Monday Okpebholo or any other authorized body.
The company confirmed that its Statutory Right of Occupancy remains valid and has not been revoked.
The Edo State Government clarified that only a potential excision of approximately 20 hectares, containing crude oil wells, is currently under technical review in accordance with federal mineral laws.
No decision or action has been made regarding this matter.
The government disassociated itself from the publication and urged stakeholders to disregard it.
Additionally, it has initiated a review of the previous EDOGIS leadership’s unauthorized actions.
The government reaffirmed its commitment to transparent land administration and support for investors.
Presco assures stakeholders that its land rights are secure, and its operations continue uninterrupted.
Administrator and Writer
