Nigerian billionaire businesswoman Folorunso Alakija has threatened legal action over reports alleging that she is under investigation by the Economic and Financial Crimes Commission (EFCC). In a statement published on her official X account, Alakija demanded the immediate removal of what she described as false and defamatory publications concerning the allegations.
Alakija's Statement and Demand for Removal
The statement read: “All false and defamatory publications concerning this news must be immediately removed, deleted, and depublicised from all platforms. Failure to comply with this notice will leave our legal team with no alternative but to pursue appropriate legal actions.”
The statement comes after reports alleged that the businesswoman was under EFCC investigation over an alleged $1.27 million fraud, undeclared foreign transfers, altered documents and money laundering. However, Alakija's statement did not provide details of the specific allegations or directly address each of the claims contained in the publications.
Details of the Alleged Publication
The publication she refers to reads: “Exclusive: Africa Richest Woman Folorunso Alakija Who Made Blouses For IBB Wife Before Owning Oil Blocks Now Under EFCC Probe For $1.27 Million Fraud, Undeclared Foreign Transfers, Altered Documents And Money Laundering.” It is unclear where the publication was released.
Who is Folorunso Alakija?
Folorunso Alakija is one of Nigeria's most prominent businesswomen, with interests spanning the oil and gas industry, fashion and real estate. She began her career in the fashion industry before expanding into oil and gas. Her business interests include Famfa Oil, a Nigerian oil exploration company with a stake in the Agbami oilfield, a major offshore asset.
Alakija serves as vice chair of Famfa Oil, whose partners include Chevron and Petrobras. Her first company was a fashion label whose customers included the wife of former Nigerian President Ibrahim Babangida. In 1993, the Nigerian government awarded Alakija's company an oil prospecting licence, which was later converted into an oil mining lease. The Agbami oilfield began operations in 2008. Famfa Oil had previously indicated that the field was expected to remain operational through 2024.
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