Switzerland Launches Criminal Investigation into Addax Petroleum Operations in Nigeria

A criminal investigation has been launched by the Geneva Prosecutor’s Office into the operations of the Geneva-based Addax Petroleum Limited in Nigeria.

The Chief Executive Officer of Addax Petroleum Geneva Office, Zhang Yi, and the Legal Director were also reportedly arrested in connection with the criminal investigation.

Confirming the launch of the criminal investigation, the company said saturday in an emailed statement to THISDAY that it was taking the matter seriously and would be responding appropriately to the investigation.

The company’s official response, which was silent on the allegation that its CEO had been arrested, however admitted that the criminal investigation was in respect of the company’s operation in Nigeria.

“Addax Petroleum confirms that a criminal investigation is being conducted by the Geneva Prosecutor’s Office in relation to allegations focusing primarily on the Company’s business in Nigeria. Addax Petroleum is taking this matter very seriously and will be responding appropriately to the investigation,” said the statement.

“As this matter is the subject of an ongoing investigation, we are unable to comment further at present,” the statement added.

Thisday, March 26, 2017

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