Abuja, Nigeria — September 18, 2025 — Felak Group, parent company of Oceangate Engineering Oil & Gas, has denied any involvement by its Group Chief Executive Officer, Dr. Mrs. Aisha Achimugu (OFR), or its subsidiary in an alleged $7 million cash transaction with Providus Bank.
In a statement on Thursday, the company dismissed a report by Mr. Chukwudi Iwuchukwu as “false, contradictory, and misleading,” stressing that neither Dr. Achimugu nor Oceangate had ties to the purported deal.
“We categorically state that neither Dr. Mrs. Achimugu nor Oceangate Engineering Oil & Gas has any connection whatsoever to the alleged transaction,” the group said.
Felak Group argued that inconsistencies in the report further undermined its credibility. While the publication suggested the funds were deposited in Lagos, referenced legal proceedings cited Abuja as the location.
The company described the publication as a deliberate effort to tarnish its reputation and discredit Oceangate’s work.
“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 statement continued.
The group demanded an immediate retraction and apology from the author and all outlets that circulated the story, warning that failure to comply would trigger legal action.
Despite the controversy, Felak Group reaffirmed its commitment to ethical practices and business excellence.
“Felak Group remains steadfast in driving innovation and excellence across our industries whilst conducting business with the utmost integrity,” the statement concluded.