Re: Unfounded Allegations of Illicit Forex Dealings Involving Group

Our attention has been brought to various false allegations published against BUA Group on some online platforms.

BUA Group categorically refutes the baseless allegations of illicit forex

dealings with the Central Bank of Nigeria (CBN) from January to March 2016. These accusations, propagated online by Mr. Desmond Ike-Chima and Mr. Oliver Fejiro of ENigeria News and

SecretReporters respectively, are false and entirely unfounded.

These individuals, known for their

involvement in cyberstalking, blackmail, and defamation, have faced previous arrests (see news reports attached) for such misconduct, casting a dark shadow over their credibility.

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.

Furthermore, in compliance with CBN’s regulations, all forex transactions by banks during 2016, were published publicly in national newspapers (some copies attached). These records, still

accessible today, provide unequivocal evidence that counters these false allegations.

We, therefore, challenge Mr. Ike-Chima, Mr. Fejiro, and their sponsors to validate their claims with concrete evidence. We urge the public and our stakeholders to disregard these deceptive publications in light of these facts. 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.

SIGNED:

Management

BUA Group.

Comments

Court Sets Aside Arrest, Remand, Wanted Declaration Against Hammed Tajudeen Akanbi

A Magistrate Court sitting in Ogba, Ikeja, Lagos, has set aside its earlier ex-parte order authorizing the arrest, remand, and “wanted” declaration of Hammed Tajudeen Akanbi, also known as Hammed Ajiran. The development follows the earlier declaration of Akanbi as wanted for alleged multiple murder by the Lagos State Commissioner of Police, Moshood Olorundare Jimoh, on February 19, 2026. However, in a ruling delivered today, Magistrate L.A. Owolabi of Magistrate Court 3 nullified the ex-parte order initially granted on February 16, 2026. In his decision, Magistrate Owolabi held that the order was obtained through the concealment of material facts. The court specifically noted that the counsel who filed and argued the application, Nosa Watson Uhumwangho, was under suspension by the Legal Practitioners Disciplinary Committee at the time and therefore lacked the right of audience before the court. The ruling sparked jubilation among members of the youth wing of the Ojomu royal family, who...

Court Cautions Police, Orders Proper Invitation of Hammed Tajudeen Akanbi

A Lagos State Magistrate Court has cautioned the Lagos State Police Command and directed that proper procedures be followed in the handling of the case involving Mr. Hammed Tajudeen Akanbi, also known as Hammed Ajiran, in what is seen as a setback for individuals including Bashir Fakorede, Jide Akinloye, and Assistant Inspector-General of Police, AIG Jimoh Moshood. Presiding over proceedings in the Ogba Magisterial District, Magistrate A. J. Odueke, in Charge No: MISC/126/2026, held that the police must formally invite Akanbi rather than declare him wanted. The Court further stated that an order for arrest would only be considered if he fails to honour such an invitation. The Court noted that it was mindful of previous proceedings in Charge No: MCIK/60A/2026, where a similar application had earlier been set aside by another Magistrate on March 23, 2026, on the grounds of illegality. Consequently, the Court declined to entertain what it described as a repetition of a defective process. ...

TASA Strengthens Alliance With Lagos Student Leaders, Sets Campus Mobilization in Motion Ahead of 2027 General Election

The Tinubu–Ambode Support Associates (TASA) today Wednesday, December 4, 2025, convened a strategic stakeholders’ meeting with student union leaders from across Lagos State, reaffirming the critical role of young people in shaping the democratic direction of the state as preparations intensify toward the 2027 general elections. The meeting, attended by representatives of 11 tertiary institutions under the coordinated leadership of the Joint Campus Committee (JCC), NANS Lagos Chapter, provided a robust platform for frank political discourse, progressive engagement, and actionable strategies for youth driven political mobilization. TASA leadership briefed the students on the urgent necessity of active participation in governance, noting that voter apathy particularly among young people significantly affected the 2023 general elections. The association emphasized that the era of leaving political decisions solely in the hands of politicians must end, as such disengagement onl...

Rountrip

Search This Blog