Felak Group has strongly denied any connection between its Chief Executive Officer, Dr. Aisha Achimugu, or its subsidiary, Oceangate Engineering Oil & Gas, and a reported $7 million cash transaction allegedly linked to Providus Bank.
The company dismissed the allegations, which surfaced in a recent publication, as false, misleading, and part of a calculated attempt to tarnish its reputation.
The claims, according to reports, stem from investigations by the Economic and Financial Crimes Commission, which allegedly traced the cash to the vaults of Providus Bank.
The funds were reportedly forfeited to the Federal Government following a legal process initiated by the anti-graft agency, according to Daily Trust.
In an official statement, Felak Group categorically refuted any involvement in the transaction, stressing that neither its CEO nor Oceangate Engineering Oil & Gas is associated with the matter.
“The article suggested that the deposit occurred in Lagos, whereas the court documents it referenced indicated Abuja. Such contradictions show that the story has no factual basis,” the statement said.
The group argued that the publication appears designed to undermine public confidence in its leadership and cast doubt on the credibility of its oil and gas subsidiary. It described the report as “an outright abuse of free expression.”
Reaffirming its commitment to transparency and ethical business conduct, the company noted that it would not allow its name to be drawn into unfounded controversies.
“We call on the author and those circulating the false report to issue a public retraction and apology with the same prominence as the original story. Failure to do so will leave us with no choice but to seek appropriate legal redress,” the statement added.
