Folorunso Alakija Threatens Legal Action Over EFCC Claims

Folorunso Alakija, a Nigerian billionaire businesswoman and vice chair of Famfa Oil, has issued a statement threatening legal action in response to reports alleging that she is under investigation by the Economic and Financial Crimes Commission (EFCC). The allegations include claims of a $1.27 million fraud, undeclared foreign assets, altered documents, and money laundering.

In her statement, published on her official X account, Alakija demanded the immediate removal of what she described as false and defamatory publications regarding these allegations. However, her statement did not provide specific details addressing each claim.

Alakija is known for her extensive business interests in the oil and gas industry, fashion, and real estate, with Famfa Oil holding a stake in the Agbami oilfield, a significant offshore asset that began operations in 2008. The field is expected to remain operational through 2024.