Felak Group Rejects $7 Million Claim, Says Allegations Against Oceangate Are False

Abuja, Nigeria — September 18, 2025 — Felak Group, owners of Oceangate Engineering Oil & Gas, has dismissed as unfounded recent allegations linking its Group Chief Executive Officer, Dr. Mrs. Aisha Achimugu (OFR), and the company to a purported $7 million cash transaction involving Providus Bank.

The company, in a statement on Thursday, described the claims circulated by Mr. Chukwudi Iwuchukwu as a fabrication aimed at undermining its reputation and misleading the public.

“We categorically state that neither Dr. Mrs. Achimugu nor Oceangate Engineering Oil & Gas has any connection whatsoever to the alleged transaction,” the statement said.

Felak Group noted contradictions in the report, pointing out that while the publication alleged the transaction took place in Lagos, legal documents cited in the same report referenced Abuja. The company argued that such inconsistencies highlight the lack of credibility in the story.

The group also condemned what it called an orchestrated attempt to drag its leadership and operations into controversy.

“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 stressed.

Felak Group demanded that the author and all platforms that circulated the story issue an immediate and public retraction with the same prominence as the original publication. It also warned that failure to comply would leave the company with no choice but to seek legal action.

Despite the allegations, the group reiterated its commitment to ethical practices, innovation, and excellence in business.

“Felak Group remains steadfast in driving innovation and excellence across our industries whilst conducting business with the utmost integrity,” the statement concluded.