Billionaire Folorunso Alakija Threatens Legal Action Over $1.27m Fraud Report
Nigerian billionaire businesswoman and founder of Famfa Oil, Folorunso Alakija, has debunked a media report linking her and her businesses to a $1.27 million fraud investigation by the Economic and Financial Crimes Commission (EFCC), describing the publication as an absolute falsehood.
The report claimed that the renowned philanthropist and her enterprises were under investigation for alleged fraud, undeclared foreign transfers, altered documents, and money laundering.
Reacting swiftly via a statement she personally signed and shared across her social media handles, Mrs. Alakija insisted the allegations are entirely baseless.
“I hereby categorically state that the sensationalised claims of ‘fraud, money laundering, and evasions’ are entirely FALSE, baseless, and a deliberate attempt to misrepresent my person,” she stated.
She maintained that all businesses within her conglomerate operate strictly within the law.
“All my corporations are law-abiding, operating with total transparency and fully aligned with all regulatory frameworks globally,” she clarified.
Warning the originators of the report, the Famfa Oil founder demanded the immediate removal of the publication and threatened legal action against defiant platforms.
“All false and defamatory publications concerning this news must be immediately removed, deleted, and depublished from all platforms,” the statement read. “Failure to comply with this notice will leave our legal team with no alternative but to pursue appropriate legal actions against the originators of this false news, as well as all media platforms that replicate this libellous content.”
Mrs. Alakija concluded by urging the general public to completely disregard the publication.
