Presco Plc has debunked reports claiming that the Edo State Government revoked its Certificate of Occupancy (C of O) for the Ologbo Estate, describing the publication as false and unauthorised.
In a statement signed by the Company Secretary, Frederick Ichekwai, on Thursday, Presco said it became aware of a Vanguard newspaper report of November 26, 2025, alleging the revocation. The company stressed that the Edo State Government had already issued a formal disclaimer refuting the claims.
According to Ichekwai, “Presco Plc … wishes to inform all stakeholders that it is aware of the Vanguard newspaper publication of 26 November 2025, which claimed that the Edo State Government has revoked Presco Plc’s Certificate of Occupancy for the Ologbo Estate.”
He added that the state government promptly moved to correct the misinformation. “The Edo State Government … has issued an official disclaimer published in the Vanguard newspaper and other media today, 27 November 2025, confirming that the publication did not emanate from His Excellency, Governor Okpebholo, or from any authorised arm of the Edo State Government,” the statement noted.
The government further clarified that Presco’s land rights are intact. “The Government confirmed that Presco Plc’s Statutory Right of Occupancy remains valid and has not been revoked,” Ichekwai stated.
Providing additional context, Presco explained that the only issue under internal review by the government involved a small portion of land around crude oil wells. “The Edo State Government further clarified that what was under technical consideration was the possible excision of approximately twenty (20) hectares located within an area containing crude oil wells, in line with federal laws governing mineral resources,” the company said. “However, no decision or approval was made, and no action affecting Presco’s current land was authorised.”
Ichekwai also disclosed that the state government has distanced itself from the controversial publication and launched an internal probe. “The Edo State Government has fully disassociated itself from the publication, instructed the public and stakeholders to disregard it, and initiated an administrative review into the unauthorised actions of the former EDOGIS leadership,” he added.
Presco Plc expressed gratitude for the government’s quick intervention, saying, “We extend our sincere appreciation to the Edo State Government for its swift and decisive response … and for its expressed commitment to transparent land administration and investor engagement.”
Reassuring investors and the public, the company emphasised that its operations are running smoothly. “We reassure all stakeholders and the public that Presco’s land rights, including the Ologbo Estate, are fully secure, and all Company’s operations remain uninterrupted.”
