Business
BUA Group Disproves Allegations Of Illicit Forex Dealings, Takes Legal Action Against Claims
“These records, still accessible today, provide unequivocal evidence that counters these false allegations”
BUA Group has disproved unfounded claims of illicit forex dealings with the Central Bank of Nigeria from January to March 2016.
The leading foods, infrastructure, mining and manufacturing conglomerate with diversified investments spanning key business sectors of the African economy made the move by providing evidence.
” In compliance with CBN’s regulations, all forex transactions by banks during 2016, were published publicly in national newspapers .
These records, still accessible today, provide unequivocal evidence that counters these false allegations” the Group with philanthropist, Abdul Samad Rabiu clarified while urging interested persons to do private findings.
The documents released by BUA group validates the assertion that “We emphatically state that neither BUA Group nor the Chairman of the Group, Abdul Samad Rabiu, received any of the alleged foreign exchange allocations from the CBN during the indicated period.”
“This fact is corroborated by the CBN and the respective banks.” the biggest employer of Labour in North-East Nigeria and one of the most profitable publicly listed business concerns attested.
The major contributor to the nation’s economy challenged the sponsors of the “unfounded claims” named in a statement issued on Sunday, July 30, 2023 to provide contrary evidence.
While urging the public and other stakeholders to” disregard these deceptive
publications”, the Group, that just secured a $500 million financing package that will create up to 12,000 direct and indirect jobs through BUA Cement – after rigorous screening process -, declared that “We have engaged the necessary law enforcement agencies and initiated legal action against the perpetrators under the Cybercrime Prohibition Prevention Act, Laws of the Federation, 2015.”
BUA Group’s reaction through a statement with the header ” Re: Unfounded Allegations Of Illicit Forex Dealings Involving BUA GROUP” comes in the face of emerging publications of the ” baseless”, “unfounded” and “false” allegations.
