By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ng
  • News
    • Politics
    NewsShow More
    WAEC to Introduce CBT for WASSCE
    September 23, 2023
    Dauda Lawal
    Zamfara State Governor Enforces Ban on Illegal Mining to Curb Banditry
    September 23, 2023
    Tribunal Upholds Election of Hyacinth Alia as Benue State Governor
    September 23, 2023
    Olabode Shaheeb Agoro
    Sanwo-Olu Appoints Olabode Agoro as New Lagos’ Head of Service
    September 22, 2023
    Army Rescues Six Abducted Zamfara Varsity Students
    September 22, 2023
  • Entertainment
    EntertainmentShow More
    Charles Granville
    Renowned Actor and Filmmaker Charles Granville Is Dead
    September 23, 2023
    Whitemoney
    Whitemoney Reveals Betrayal by His Team During Big Brother Naija All Stars
    September 23, 2023
    Let Mohbad’s Widow Grieve in Peace, Stop DNA Test Demands – Mary Njoku
    September 22, 2023
    Mohbad
    Mohbad: Police announce completion of autopsy, await result
    September 21, 2023
    Tinubu Extols Wife on Her 63rd Birthday
    September 21, 2023
  • Business & Economy
    Business & EconomyShow More
    FG to Collaborate with NGX to Stimulate Startup Listings on Tech Board
    September 22, 2023
    Central Bank of Nigeria (CBN)
    Central Bank of Nigeria Postpones 293rd Monetary Policy Committee Meeting
    September 21, 2023
    Farooq Adedayo Oreagba
    NG Clearing Appoints Farooq Oreagba as Managing Director and CEO
    September 20, 2023
    Abdul Samad Rabiu
    BUA Cement Plans to Reduce Cement Prices from N5,500 to N3,500 – Abdul Samad Rabiu
    September 16, 2023
    L-R: Executive Commissioner, Technical Services, Nigerian Communications Commission (NCC), Ubale Maska; Group Managing Director/Chief Executive Officer, VDT Communications Limited, Biodun Omoniyi; Executive Vice Chairman/Chief Executive Officer, NCC, Prof. Umar Danbatta and President, Association of Telecom Companies of Nigeria (ATCON), Tony Emoekpere, at Telecom Executives and Regulators Forum hosted by ATCON in Lagos on Thursday (September 7, 2023).
    Nigeria’s Telecom Contribution to GDP Hits 16% – Danbatta
    September 8, 2023
  • Sport
    SportShow More
    Quadri Aruna
    Quadri Aruna Clinches Gold at ITTF Championships in Tunis
    September 17, 2023
    Tobi Amusan
    Tobi Amusan Secures Third Consecutive Diamond League Title in 100m Hurdles
    September 17, 2023
    Adekunle Gold Takes Center Stage as Manchester United, Adidas Unveil LFSTLR Collection
    September 12, 2023
    NFF Approves Nigerian League Name Change
    September 12, 2023
    Paul Pogba
    Juventus Star Paul Pogba Provisionally Suspended Over Alleged Anti-Doping Offence
    September 11, 2023
  • Tech
    TechShow More
    YouTube Introduces AI-Powered Features to Empower Content Creators and Artists
    September 21, 2023
    NCC
    NCC Introduces New Numbering Format for Fixed Lines
    September 20, 2023
    Google's Bard now has extensions
    Google’s Bard AI Chatbot Introduces Extensions for Enhanced Collaboration Across Products
    September 20, 2023
    National Coordinator, Office for Nigerian Digital Innovation (ONDI), Yakubu Musa delivering the Director General National Information Technology Development Agency (NITDA), Kashifu Inuwa, Keynote address at the Innovation Support Network (ISN) Gathering 2023.
    Collaboration is Key to Sustainable Innovation, Says NITDA Director-General at ISN 2023 Gathering
    September 18, 2023
    Apple Unveils iPhone 15 Pro and iPhone 15 Pro Max: Everything You Need to Know
    September 14, 2023
Reading: BUA Group Refutes Allegations of Illicit Forex Dealings
Share
Notification Show More
Aa
Okay.ngOkay.ng
Aa
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

BUA Group Refutes Allegations of Illicit Forex Dealings

Muhammad A. Aliyu By Muhammad A. Aliyu July 31, 2023
Share
2 Min Read
BUA Group
BUA Group
SHARE

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.

- Advertisement -

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.

TAGGED: BUA Group
Share This Article
Facebook Twitter Whatsapp Whatsapp Telegram Email Copy Link Print
What do you think?
Happy0
Love0
Sad0
Angry0
Joy0
Surprise0

Connect with Okay on Social

Facebook Like
Twitter Follow
Instagram Follow
Telegram Follow
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Charles Granville
Renowned Actor and Filmmaker Charles Granville Is Dead
Celebrities
WAEC to Introduce CBT for WASSCE
Education
Dauda Lawal
Zamfara State Governor Enforces Ban on Illegal Mining to Curb Banditry
News
Whitemoney
Whitemoney Reveals Betrayal by His Team During Big Brother Naija All Stars
Entertainment
Tribunal Upholds Election of Hyacinth Alia as Benue State Governor
News
- Advertisement -

You Might Also Like

Education

WAEC to Introduce CBT for WASSCE

September 23, 2023
Dauda Lawal
News

Zamfara State Governor Enforces Ban on Illegal Mining to Curb Banditry

September 23, 2023
News

Tribunal Upholds Election of Hyacinth Alia as Benue State Governor

September 23, 2023
Olabode Shaheeb Agoro
News

Sanwo-Olu Appoints Olabode Agoro as New Lagos’ Head of Service

September 22, 2023
Previous Next
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2022 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
Welcome Back!

Sign in to your account

Lost your password?