Sahara Group, the foremost oil and gas company co-founded by Mr. Tonye Cole Sunday said the billionaire has resigned from the company to participate in active politics.
Today’s Echo reported last week that Mr. Cole is now the frontrunner and favourite to pick the governorship ticket of the All Progressives Congress, APC, for Rivers State, following his endorsement by Chief Rotimi Amaechi, the leader of the party in the state and Director-General of President Muhammadu Buhari’s 2019 reelection campaign.
“The Board and management of The Sahara Group of Companies wishes to inform the general public and other stakeholders that one of our co-founders and Executive Director, Mr. Tonye Patrick Cole has formally informed the Board of his decision to participate in active politics.
“The Sahara Group wishes to state for the record that as a non-political and non-partisan group, it is not affiliated to any political party in any country we operate in and does not engage in Nigerian politics.
Mr. Cole’s decision to participate in active politics is his individual preference and choice to which he is entitled.
“In accordance to Sahara Group’s Corporate Governance Charter and International best practice which prohibits any of our key Management or Board members from partaking in active politics, promoting or supporting any particular political organization or ideology, Mr. Tonye Cole has resigned all his Board appointments and day to day responsibilities for the Sahara Group companies and its affiliates with immediate effect,” Bethel Obioma, the group’s spokesman said in the statement.