By Society Assistant Editor
Ninolowo Gbamboye
The parent company of Oceangate Engineering Oil & Gas, Felak Group, has strongly rejected reports linking its Group Chief Executive Officer, Dr. Mrs. Aisha Achimugu (OFR), to a $7 million transaction allegedly routed through Providus Bank.
In a statement issued on Thursday, the conglomerate described the claims as “false, contradictory, and misleading,” stressing that both Dr. Achimugu and Oceangate Engineering Oil & Gas had no involvement whatsoever in the matter. The company accused the publisher of the report, Mr. Chukwudi Iwuchukwu, of peddling baseless allegations that not only misrepresented facts but also sought to malign the reputation of a respected business leader and her organization.
Company Denies Any Connection
Felak Group emphasized in clear terms that the allegations were completely without merit.
“We categorically state that neither Dr. Mrs. Achimugu nor Oceangate Engineering Oil & Gas has any connection whatsoever to the alleged transaction,” the statement read.
The group also highlighted inconsistencies in the report, pointing out that while it claimed the funds were deposited in Lagos, legal proceedings cited in the same publication referred to events in Abuja. Such contradictions, according to Felak Group, exposed the publication as not only unfounded but also deliberately misleading.
Call for Retraction and Apology
Expressing deep concern about the reputational harm caused by the allegations, Felak Group demanded an immediate retraction of the story, accompanied by an unconditional apology from both the author and those who circulated the report online. The company insisted that the correction must be given the same prominence and visibility as the original publication to mitigate the damage done.
Failure to meet these demands, the group warned, would leave it with no choice but to pursue legal action to defend its reputation and protect its leadership from unwarranted attacks.
“The attempt to link our principal and subsidiary to this matter is unfounded, misleading, and without any factual basis, and represents a gross abuse of free expression,” the company stated.
Upholding Integrity in Business
While dismissing the allegation, Felak Group reaffirmed its commitment to conducting business with transparency and integrity. The statement noted that the company has, over the years, built a reputation for excellence, driving innovation across its portfolio of industries while strictly adhering to ethical corporate standards.
“Felak Group remains steadfast in driving innovation and excellence across our industries whilst conducting business with the utmost integrity,” the management concluded.
The controversy has stirred discussions within the corporate and media landscape, once again raising questions about the dangers of misinformation and the reputational risks businesses face in the age of unverified digital reporting.
As the matter unfolds, industry watchers will be keeping a close eye on whether the demands for retraction and apology will be met—or whether Felak Group will move forward with legal action to clear its name and set an example against the spread of unfounded allegations.
