Felak Group has dismissed reports linking its subsidiary, Oceangate Engineering Oil & Gas, and the group’s Chief Executive Officer, Aisha Achimugu, to the $7 million recently forfeited to the federal government by order of the Federal High Court in Abuja.
In a statement on Thursday, the company described the reports as “unfounded, contradictory, and misleading,” insisting that neither Mrs Achimugu nor Oceangate Engineering Oil & Gas was involved in the transaction.
“We categorically state that neither Dr. Achimugu nor Oceangate Engineering Oil & Gas has any connection whatsoever to the alleged transaction. The claims are unfounded, contradictory, and misleading,” the company said.
Felak Group further pointed out inconsistencies in the publications, noting that while some reports claimed the funds were deposited in Lagos, the legal proceedings referenced Abuja. It alleged that the reports were deliberate attempts to discredit its leadership and subsidiary.
The group demanded an immediate retraction and public apology from those who circulated the story, warning that failure to comply would attract legal action.
On Monday, Justice Emeka Nwite of the Federal High Court, Abuja, ordered the final forfeiture of $7 million (about ₦11.2 billion) following an application by the Economic and Financial Crimes Commission (EFCC).
According to the EFCC, the funds were discovered in the vault of Providus Bank, Ikoyi branch, under suspicious circumstances. One of the commission’s investigators, Emmanuel Okeibunor, told the court that bank officials claimed the money was deposited on behalf of Mrs Achimugu, who allegedly denied ownership, describing it instead as an unpaid loan from the bank.
Although the EFCC linked the funds to Oceangate Engineering Oil & Gas, no party came forward to contest ownership, prompting Justice Nwite to rule in favour of the commission and order the funds permanently forfeited to the federal government.
Mrs Achimugu has previously been invited by the EFCC in relation to investigations involving contract awards and payments, including allegations of contracts awarded without due process under former National Security Adviser, Sambo Dasuki.
Providus Bank is also under scrutiny for failing to file a Suspicious Transaction Report with the Nigerian Financial Intelligence Unit regarding the $7 million deposit.
Felak Group, however, insisted that its CEO and subsidiary were not connected to the case and vowed to seek legal redress against those propagating the allegations.
