BUA Group has vehemently refuted baseless claims of engaging in illicit forex dealings with the Central Bank of Nigeria (CBN) from January to March 2016.
The accusations, propagated by Mr. Desmond Ike-Chima and Mr. Oliver Fejiro of ENigeria News and SecretReporters, respectively, are unfounded and lack credibility.
In a statement released by BUA Group management on July 30, 2023, the company categorically refuted the baseless claims, labeling them as entirely unfounded.
The statement clarified that neither BUA Group nor its Chairman, Abdul Samad Rabiu, received any alleged foreign exchange allocations from the CBN during the indicated period.
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This fact was verified by the CBN and the respective banks involved in the transactions.
Moreover, BUA Group pointed out that all forex transactions conducted by banks during 2016 were publicly published in national newspapers, in compliance with CBN regulations.
These records, which remain accessible, serve as unequivocal evidence contradicting the false allegations.
In response to the damaging claims, BUA Group has taken proactive measures.
The company has engaged law enforcement agencies and initiated legal action against the perpetrators under the Cybercrime Prohibition Prevention Act, Laws of the Federation, 2015.
The management of BUA Group has called upon Mr. Ike-Chima, Mr. Fejiro, and their sponsors to provide concrete evidence to support their allegations.
In the absence of such evidence, the public and stakeholders are urged to disregard the deceptive publications.