Felak Group, together with its subsidiary, Oceangate Engineering Oil & Gas, has debunked a publication authored by Mr. Chukwudi Iwuchukwu, which attempted to link the Group’s Chief Executive Officer, Dr. (Mrs.) Aisha Achimugu, OFR, and Oceangate Engineering Oil & Gas to a purported $7 million cash transaction involving Providus Bank.
In a statement released on Thursday, the management of Felak Group denied any connection to the alleged transaction, describing the publication as “unfounded, contradictory, and misleading.”
“We categorically state that neither Dr. (Mrs.) Achimugu nor Oceangate Engineering Oil & Gas has any connection whatsoever to the alleged transaction. The claims are unfounded, contradictory, and misleading,” the statement reads.
“While the publication suggests the funds were deposited in Lagos, the referenced legal proceedings indicate otherwise in Abuja—an inconsistency that further underscores its lack of credibility.”
According to Felak Group, the allegations were clearly designed to undermine confidence in its leadership and discredit the work of Oceangate Engineering Oil & Gas.
“The attempt to link our principal and subsidiary to this matter is baseless, misleading, and without any factual foundation. It represents a gross abuse of free expression,” the Group stated.
As a responsible corporate institution with transparency, ethical business practices, and excellence as its core values, Felak Group reiterated its firm commitment to protecting its name, its people, and its legacy. It also called on the author and all parties who circulated the rumour to issue an immediate and unconditional retraction and apology with the same level of visibility as the original publication.
The Group further warned that failure to meet these demands would leave it with no choice but to pursue all available legal remedies to restore its reputation.
“Should this not occur immediately, we will have no choice but to pursue every necessary legal remedy available to us. Felak Group remains steadfast in driving innovation and excellence across our industries while conducting business with the utmost integrity,” the statement concluded.
