Tony Elumelu Denies Involvement In N41bn NITEL Fraud, Demands Retraction From Senator

Banking mogul Tony Elumelu has denied his involvement nor United Bank for Africa Plc, in the Nigeria Telecommunication Company (NITEL) N41 billion liquidation fraud allegation.

In the statement on Monday signed by his lawyers; RA Lawal-Rabana (SAN) and Kemi Balogun (SAN), Elumelu described as “false, baseless, and mischievous allegation as neither him nor any of the organisations associated with him has ever been involved in or indicted for any fraud as was falsely alleged by Senator Ayo Akinyelure.”

Senator Akinyelure, who is the Chairman of the Senate Committee on Ethics, Privileges and public petitions, has accused both Elumelu and UBA of involvement in a N41 billion fraud relating to the once state telecoms company in liquidation.

Elumelu expressed alarm and appalled by “this deliberate peddling of falsehood and misinformation against an unblemished personal and business reputation, painstakingly built by our client over several decades with great personal sacrifice and unquestionable integrity.”

The UBA Group Chairman then demanded an immediately open, public and unreserved retraction of the said statements credited to Akinyelure and an apology from the Senator for the false allegation and defamation of his person.

The full statement reads:

“We write on behalf of Mr. Tony O. Elumelu, CON (our client) whose attention has been drawn to several false online publications credited to Senator Ayo Akinyelure, the Chairman of the Senate Committee on Ethics, Privieges and public petitions alleging the involvement of UBA and indictment of Mr. Elumelu in a N41,000,000,000 (Forty One Billion Naira) fraud relating to NITEL in liquidation.”

“Our client is shocked by this false, baseless, and mischievous allegation as neither him nor any of the organisations associated with him has ever been involved in or indicted for any fraud as was falsely alleged by Senator Ayo Akinyelure.”

“Our client is also alarmed and appalled by this deliberate peddling of falsehood and misinformation against an unblemished personal and business reputation, painstakingly built by our client over several decades with great personal sacrifice and unquestionable integrity.”

“Our client rejects Senator Akinyelure’s attempt to use the platform of the respected institution of the senate of the Federal Republc of Ngeria to accomplish whatever uterior motives he may have.”

“It is important to emphasise that when UBA appeared before the Senate Committee on Ethics, Privileges and Public Petitions, attention was drawn to the fact that the facts and circumstances leading to the disputes on the alleged financial indebtedness was pending before the Supreme Court in SC/CV/112/2020.”

“It was resolved that given the pendency of the matter at the Supreme Court, it was sub-judicial and all actions on the matter be suspended. It is shocking and sacrilegious that a matter pending at the Apex Court could be subjected to debate contrary to the Rules of the Senate and by extension, the principle of law that when a matter is sub-judice, it should not be subjected to debate before decision is reached by the court. Therefore, the publications ascribed to Senator Ayo Akinyelure is in total disregard of the Rules of Senate and the Rule of Law.”

“Our client has instructed us to, and we have demanded an immediately open, public and unreserved retraction of the said statements credited to Senator Akinyelure and an apology from Senator Akinyelure for this false allegation and defamation of our Client.”

“We have our Client’s further instructon to take all appropriate legal actions against Senator Akinyelure and his media agents if our above stated demand is not met within seven (7) days of their receipt of our demand letter.”