Our attention has been drawn to a publication making the rounds in the media regarding the involvement of our Company in the Paris Club loan refund investigation saga.

In the said publication, the following statement was reported to have been made by the Economic and Financial Crimes Commission:

“That on 21st December 2016, GCA Energy Limited paid the sum of $25,000 to Asterio Energy Services Limited which subsequently transferred the sum of $23,200 to Cactus Communication Limited account with Access Bank.”

“That Acarast Commercial received the sum of N92, 685, 000 from Melrose General Services on December 20, 2016 and paid the sum of N12, 000,000 to GCA Energy Limited, the sum of N73, 950,000 to Sought-After International Synergy Ltd. and N9, 500,000 to VerticeSolution Limited.”

These statements credited to the EFCC failed to establish the correlation between the above referenced financial transactions which we do not deny but are concerned that it has been misconceived and tainted with insinuations that our Company was involved in the commission of a criminal act or financial crime. It has therefore become imperative to situate the circumstances of the transactions involving our Company, Asterio Energy Services and Acarast Commercial with a view to distancing our company from any fraud, scam or corrupt dealings.

On the 21st day of December 2016, Asterio Energy Services Limited contacted us seeking for assistance to help it raise the sum of $25,000 in exchange for its naira equivalent, which summed up to ₦12,000,000 as at the time. As players in the energy industry with a history of mutually beneficial business transactions, we obliged Asterio Energy Services with the solicited assistance believing that the dollar sum it sought was to meet business obligations given the paucity of FOREX at the time.

In return, Acarast Commercial, on behalf of Asterio Energy Services, credited our account with the sum of ₦12,000,000.00 being the naira equivalent for the dollars availed to Asterio Energy Services Limited. Our Company was not privy to the relationship between Asterio Energy Services Limited and Acarast Commercial but only received payment for the dollars availed to Asterio Energy Services Limited through Acarast Commercial.

Nothing beside this explains our involvement with Asterio Energy Service, as we have never been involved in money laundering nor been complicit in the reported ‘N3.5 billion Paris Club loan refund’.

GCA Energy Limited is a service delivery integrated energy company in the niche areas of onshore/offshore procurement support services. GCA Energy Limited has maintained a track record in the timely procurement & service delivery of vital parts required for the smooth running of FPSOs, Offshore Platforms, Refineries, Petrochemical plants, Oil depots, Tank Farms and other related facilities. It’s maintenance, metering and calibration, laboratory, and environmental services have been offered to the energy industry players across upstream, midstream and downstream sectors over the years.

We prioritize the goodwill and corporate image of our Company and hope that the clarification provided above would aid our law enforcement agencies in the conduct of their investigation as well as detaching our Company from any perceived fraudulent activity.