Felak Group, Oceangate Oil and Gas Dissociate Achimugu from $7 Million Controversy,.Threaten Court Action

Felak Group, Oceangate Oil and Gas Dissociate Achimugu from $7 Million Controversy,.Threaten Court Action

Felak Group has refuted allegations associating its Chief Executive Officer, Dr. Aisha Achimugu, and its subsidiary, Oceangate Engineering Oil & Gas, with a contentious $7 million cash transaction purportedly linked to Providus Bank.

The company denounced the claims, attributed to a recent publication, as false, misleading, and intentionally devised to tarnish its reputation.

Reports indicate that the Economic and Financial Crimes Commission (EFCC) had traced the funds to the bank’s vault.

The money was reportedly forfeited to the Federal Government following the anti-corruption agency’s court proceedings.

However, in a statement, the group asserted that neither its CEO nor its oil and gas subsidiary is connected to the alleged transaction.

“The article suggested that the deposit took place in Lagos, whereas the referenced court documents indicated Abuja. Such discrepancies underscore the story’s lack of factual foundation,” the statement declared.

Felak Group contends that the allegations seem designed to undermine public confidence in its leadership and disparage the efforts of Oceangate Engineering Oil & Gas.

The company characterized the attempt as “a blatant misuse of free expression.”

The management underscored that the company remains committed to maintaining transparency and integrity in its operations, yet will not permit its name to be embroiled in unfounded controversies.

“We urge the author and those disseminating the false report to issue a public retraction and apology with equal prominence as the original story.

Failure to comply will compel us to pursue appropriate legal recourse,” the statement concluded.