Oil and gas exploration and production firm, MSM Group,has filed a N10 billion defamation suit before the Federal Capital Territory (FCT) High Court against the Oduduwa Transparency Network (OPN) and its President, Mahmud Adebayo, over allegations linking the company to money laundering of funds allegedly diverted from the Nigerian National Petroleum Company Limited (NNPCL).
In the suit marked FCT/HC/CV/3468/2025, MSM Group, through its lawyer, Prince O. Aniukwu, is asking the court to compel the defendants to issue a public apology and retract what it described as a “malicious, false and defamatory” publication made at a press conference.
The disputed press conference, held on August 6, 2025, and entitled: “Brazen Plan to Whitewash Stolen NNPC Billions into Legitimate Seeming Investment,” accused the former NNPC Group Managing Director, Mele Kyari, of using MSM Group as a front to launder $2.8 billion earmarked for the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries.
MSM Group stated that the press conference, streamed live on YouTube channels such as Voice TV Nigeria, News Update Report, and Viable TV, and amplified by mainstream outlets including The Guardian,Daily Post, and Champion Newspapers, was calculated to maliciously damage its reputation and global business standing.
The claimant is seeking:A declaration that the press conference was defamatory and injurious to its reputation,An order directing the defendants to publish an unreserved apology in Daily Trust and three other national dailies, as well as on the YouTube channels where the allegations were aired.
A perpetual injunction restraining the defendants from making similar allegations in future. The payment of N10 billion in damages, jointly and severally, against OPN and Adebayo.
In a sworn deposition, MSM Group’s Business and Communications Associate, Terkuma Isaac Ikyurior, described OPN as “an unregistered association with no clear leadership or verifiable mandate,” alleging that it falsely parades itself as a civil society watchdog while spreading misleading propaganda.
The company maintained that the allegations were “entirely false, malicious, and intended to derail legitimate business ventures,” including a $2.4 billion cement plant project in Kebbi State.
According to the claimant, the timing of the press conference coincided with sensitive milestones, including its planned U.S. Stock Exchange listing to raise $225 million (with projections of scaling operations to $2.7 billion annually) and a strategic financing deal with Chinese partners for its cement operations.
“The publication recklessly presented unsubstantiated speculation as established fact, creating sinister connections between MSM Group’s legitimate businesses and fabricated criminal conduct,” the deponent added.
The company further disclosed that its founder, who began as an agricultural entrepreneur before expanding into fintech, energy, and manufacturing, was recently recognised as a United Nations SDGs Peace Ambassador, but has since suffered public ridicule, reputational distress, and investor unease due to OPN’s allegations.
At the August 6 briefing, OPN President Adebayo alleged that MSM Group’s cement project was a cover for laundering refinery funds under Kyari’s tenure, citing the appointment of former NNPC executives, Henry Ikem Obih and Aisha Katagum, to the company’s board.
Adebayo asked: “What is Kyari not telling Nigerians about how funds were passed under the table to his proxies in MSM Group?”
He urged the Attorney General of the Federation (AGF) and the Economic and Financial Crimes Commission (EFCC) to probe the company, claiming its meteoric rise mirrored the billions allegedly siphoned from refinery rehabilitation.
MSM Group insisted that the allegations had devastating consequences, noting “disturbing calls from global investors” and “mental distress” suffered by its executives.
“The defendants’ smear campaign has painted MSM Group as fraudulent, untrustworthy, and complicit in crimes it did not commit, undermining years of hard work and international goodwill,” the claimant said, stressing that damages alone cannot undo the reputational harm inflicted.
The court has yet to fix a date for hearing.
Wale Igbintade
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