Fear of protest grips Pinnacle Oil amid allegation of fund diversion by founder, Peter Mbah

Pinnacle Oil and Gas Limited has revealed that political opponents of its founder, Peter Mbah, are allegedly planning a protest at its terminal located in the Lekki Free Zone, Lagos, over an allegation of fund diversion.

The unknown persons are said to be out to accuse Mbah of diverting capital provided to Pinnacle for products supply to fund his governorship aspiration in Enugu State.

According to a petition released sent on Wednesday to the Department of State Services (DSS) and signed by Pinnacle’s Managing Director, Robert Dickerman, it was alleged that Mbah is being blamed for the fuel scarcity plaguing the country.

Pinnacle said political opponents of the Peoples Democratic Party (PDP) governorship candidate in Enugu State were “desperately trying to recruit the company’s partners and customers to stage massive and well-publicised protests at the facility over a totally false and absolutely non-existent failure to fulfill the terms of product supply contract with marketers,” the petition reads.

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The company said the allegation is “totally malicious, untrue and unpatriotic, and shows how far his (Mbah’s) political opponents in his home state are ready to go to stop him even if their sinister plot to destabilise the national economy not minding the various difficulties, including fuel shortages faced by Nigerians”.

Pinnacle’s petition stated further, that “this wicked machination to complicate current national economic and security situation due to challenges of fuel distribution in Nigeria, is geared towards not only destroying the facility and reputation of Pinnacle Oil and Gas Limited and its founder/chief executive officer across the country and beyond, but also to cause a major breach of peace and security across the country in an election month”.

Pinnacle which asked the DSS to prevent the protest, as it would disrupt business operations, also demanded that all parties responsible should be investigated and held accountable.

It didn’t state when the purported political opponents plan to hold the alleged protest.

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