Felak Group $7m transaction denial rebuffs false claims linking its CEO to cash deal. Company demands retraction, warns of legal action

Felak Group $7m transaction denial has sparked firm rejection of what the company describes as a baseless and misleading report attempting to link its CEO, Dr (Mrs) Aisha Achimugu, OFR, and its subsidiary Oceangate Engineering Oil & Gas, to an alleged $7 million cash deposit involving Providus Bank.

Also read: Businesswoman Aisha Achimugu’s Teary Face

In a strongly worded statement released on Thursday, the company condemned a publication by Mr Chukwudi Iwuchukwu, asserting that neither the CEO nor any arm of the organisation had any involvement in the transaction.

“The claims are unfounded, contradictory, and misleading,” the statement read, pointing out key inconsistencies, such as conflicting locations between the report and legal references — Lagos in the article and Abuja in actual proceedings.

Felak Group stressed that the publication appears calculated to damage its reputation and sow public doubt in the leadership of both the parent company and Oceangate Engineering Oil & Gas.

“This is a gross abuse of free expression and a deliberate attack on our integrity,” the company said.

It described the attempt to link its executives to the issue as entirely without merit and called for an immediate and unconditional apology and retraction, demanding the correction receive the same prominence as the original story.

Felak Group reiterated its commitment to ethical business conduct, transparency, and excellence. It warned that failure to retract the false report would trigger legal action to protect the organisation’s reputation and values.

“We will not hesitate to pursue all legal remedies to restore our name if the defamatory content is not withdrawn,” the statement concluded.

Also read: Businesswoman Aisha Achimugu’s Teary Face

The group remains focused on innovation and operational integrity across all its ventures, even as it pushes back against attempts to undermine its credibility.