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RE: Unfounded Allegations Of Illicit Forex Dealings Involving BUA Group

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BUA Group’s logo


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 Alledged
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.

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Governor Dauda Lawal Approves N3.2 Billion to renovate School of Nursing in Zurmi

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His Excellency, the Executive Governor of Zamfara State, Dr. Dauda Lawal, has officially approved the sum of N3.2 billion for the complete renovation, accreditation, and commencement of academic activities at the Zamfara State School of Nursing and Health Sciences, located in Zurmi Local Government Area. This was confirmed in an official statement released marking a major intervention in the state’s ailing healthcare education sector, which has suffered years of neglect and infrastructural decay.According to government sources, the funds will be channeled into three critical areas: the overhauling of lecture halls, administrative blocks, student hostels, and practical demonstration labs to meet modern standards; the settlement of regulatory fees and implementation of curriculum upgrades required by the Nursing and Midwifery Council of Nigeria (NMCN); and enabling the school to admit its first batch of students in over five years, with a focus on midwifery, community health and general nursing. Speaking on the development, the state Commissioner for Health described the approval as a new chapter in healthcare manpower development, noting that the Zurmi school has remained non-functional for nearly a decade due to poor infrastructure and loss of accreditation. Governor Dauda Lawal is not just renovating a school but rebuilding the backbone of primary healthcare delivery in Zamfara, adding that without trained nurses and community health workers, the state’s hospitals cannot function and that this N3.2 billion investment will change the narrative.Residents of Zurmi and prospective students have greeted the news with excitement, with many having lost hope of ever seeing the institution reopen. Governor Dauda Lawal, who has made health sector revitalization a cornerstone of his administration, was quoted as saying that his government remains committed to accessible, quality education and healthcare across all 14 local government areas of the state, adding that no Zurmi child should travel hundreds of kilometers just to become a nurse. The state government has issued a directive to the Ministry of Health and the Ministry of Education to ensure the project is completed within nine months, with accreditation visits scheduled to begin before the end of the current fiscal year.

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NASSCO Honours Zamfara Governor Dauda Lawal with Excellence Award for Inclusive Governance

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Governor Dauda Lawal of Zamfara State has received the Award of Excellence from the National Social Safety Nets Coordinating Office (NASSCO) in recognition of his administration’s commitment to inclusive governance and social protection delivery.

The award was presented during a stakeholder engagement event with local government chairmen, held at the Transcorp Congress Hall in Abuja.

NASSCO, a federal agency operating under the Federal Ministry of Humanitarian Affairs and Poverty Reduction, is responsible for implementing social safety-net programmes designed to protect and empower vulnerable populations across Nigeria.

In her remarks while presenting the award, the National Coordinator of NASSCO, Dr. Funmi Olotu, stated that the honour reflects Governor Lawal’s dedication to improving social protection systems and promoting inclusive governance in Zamfara State.

Accepting the award, Governor Lawal commended the Federal Government, the World Bank, and other development partners for their continued support of ongoing reforms to strengthen Nigeria’s social protection architecture.

“This engagement is timely and strategic,” Governor Lawal said. “In Nigeria, especially in conflict-affected states like Zamfara, social protection has shifted from welfare to a vital tool for governance, security, poverty reduction, and community resilience.”

He noted that insecurity in Zamfara has led to displacement, disruption of livelihoods, food insecurity, and significant economic hardship, which disproportionately affects women, children, displaced persons, people with disabilities, and rural communities.

The Governor stressed the need for better coordination, transparency, data-driven targeting, and stronger collaboration among federal, state, and local governments to ensure resources reach those who need them most.

He also praised the expansion of the National Social Register and the integration of the National Identification Number (NIN), describing these as steps that improve transparency, efficiency, and accountability in service delivery.

Governor Lawal further called for inclusive development that goes beyond cash transfers to include livelihood support, skills training, agriculture, healthcare, education, financial inclusion, and community resilience. “This will help vulnerable populations move from dependency to sustainable participation,” he said.

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CBN Fines Access Bank N35 Million For Anti-Money Laundering, Terrorism Financing Violations

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TRIXX NG reports that the Central Bank of Nigeria (CBN) has fined financial giant, Access Bank the sum of N35 Million for “antimoney laundering, combating the financing of terrorism and countering proliferation financing (aml/cft/cpf) risk-based examination for the period May 1, 2024 to April 30, 2025”This was revealed in the company’s 2025 results released some days ago.

This particular fine is part of the bank’s various infractions for the period under review.

It would be recalled that this publication reported that Access Bank lost N1.236 billion to fraud in 2025.

In the report, the financial giant, under the chairmanship of Aig-Imoukhuede, recorded 5,981 successful fraud incidents in 2025 alone, with N3.17 billion involved. However, the actual loss was N1.236 billion.

The single largest category was fraudulent account transfers, which alone accounted for N587.8 million in confirmed losses.

The most frequent fraud category was electronic and USSD fraud, with 5,931 successful cases recorded in 2025 alone. Actual losses from this category reached N465 million.

CREDIT: TRIXXNG

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