Abuja, Nigeria — September 18, 2025 — Felak Group has firmly dismissed a report alleging that its Group Chief Executive Officer, Dr. (Mrs.) Aisha Achimugu (OFR), and subsidiary Oceangate Engineering Oil & Gas, were involved in a $7 million cash transaction with Providus Bank.
The company, in a statement on Thursday, described the claims made by Mr. Chukwudi Iwuchukwu as “false, contradictory, and misleading,” insisting there was no connection between its executives, its subsidiary, and the alleged deal.
“We categorically state that neither Dr. Mrs. Achimugu nor Oceangate Engineering Oil & Gas has any connection whatsoever to the alleged
transaction,” the statement read.
Felak Group also noted contradictions in the report, pointing out that while it alleged the funds were deposited in Lagos, the legal filings referenced placed the matter in Abuja.
“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 management said.
The Group demanded an immediate, unconditional retraction and apology from the author as well as from platforms that published or circulated the story. It stressed that the correction must be issued with the same prominence as the original claims. The company further warned that it would explore legal action should there be non-compliance.
“Felak Group remains steadfast in driving innovation and excellence across our industries whilst conducting business with the utmost integrity,” the statement concluded.
Read the full statement below,
