No Plans to Divest Interest in ERHC - Sir Emeka Offor

Sir Emeka Offor, the former Nigerian chairman of Houston-based ERHC Energy has said that he has no plans to divest his interest in ERHC. Indeed, he is currently consulting on enhancement of that holding. In a statement released to the press in Abuja, Nigeria, by the Group Chief Communications Officer, Mr. Val Oji confirmed that the holding of the billionaire businessman who voluntarily resigned as chairman and director of ERHC recently to concentrate on growth plans for Chrome Group, remains intact. "ERHC remains a healthy and viable business; our commitment to the company is total; therefore the issue of divesting does not in any way arise", the statement concluded.

In another development, the group informed journalists that it has repositioned its operations to meet the ever-changing challenges of doing business in a developing economy. Under the new arrangement, the oil and gas giant has rolled out a robust Corporate Social Responsibility (CSR) program aimed at affecting the lives of Nigerians positively, and other host communities where it operates. To be fully integrated into its corporate strategy in line with emerging best-in-class global practices, the main thrust of the CSR program is uplifting the well being and living standards of the host communities where it operates and Nigerians in general.

Chrome Group will in the immediate future give more back to society. The CSR-centric strategy as envisaged will in the next two years focus on two key areas of intervention namely: youth empowerment and promotion of a renewable, sustainable and more conducive environment.

Explaining the reason behind the new strategy, Mr. Oji said, "Chrome Group in line with the philosophy of its founding fathers has made considerable inroads in Nigeria and countries outside Nigeria and, in most of these places has left a positive mark on the business landscape and continues to do so till date. The time has come to re-strategize and reposition with a view to remembering all those that are contributing to the success story that the group has become today. Today is the beginning of a whole new chapter in the life of the group - an era of total alignment of the group's Corporate Social Responsibility (CSR) programs with its corporate strategy."