Felak Group has dismissed reports linking its Chief Executive Officer, Dr Aisha Achimugu, and its subsidiary, Oceangate Engineering Oil & Gas, to a controversial $7 million cash transaction allegedly tied to Providus Bank.
The company described the claims, credited to a recent publication as false, misleading, and deliberately crafted to smear its reputation.
According to reports, the Economic and Financial Crimes Commission (EFCC) had traced the money to the bank’s vault.
The money was said to have been forfeited to the Federal Government after the anti-graft agency took the matter to court.
But in a statement, the group stressed that neither its CEO nor its oil and gas subsidiary has any connection with the alleged deal.
“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.
According to Felak Group, the allegations appear calculated to erode public trust in its leadership and discredit the work of Oceangate Engineering Oil & Gas. The company described the attempt as “an outright abuse of free expression.”
The management emphasised that the company will continue to uphold transparency and integrity in its operations, but will not allow its name to be dragged into baseless 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.
