A Nigerian business conglomerate, MSM Group Limited, has filed a lawsuit against a civil society organization, Oduduwa Transparency Network, and its president, Mahmud Adebayo, seeking N10 billion in damages for alleged defamation. The lawsuit, filed at the Federal Capital Territory High Court in Abuja, stems from a press conference held on August 6, where Mr. Adebayo accused MSM Group of being used to divert $2.8 billion in alleged stolen refinery funds into a cement production venture.
The allegations were made against the backdrop of a $2.4 billion cement investment by MSM Group, which the civil society group claimed should be probed by the Minister of Justice and Attorney-General of the Federation, as well as the Economic and Financial Crimes Commission. However, MSM Group has denied these allegations, describing them as “false and unfounded” in court documents filed by its counsel, Simplified Legal Chambers.
The company has asked the court to order a retraction of the statement within 48 hours, a perpetual injunction restraining the defendants from further publication of the allegations, and damages for reputational harm. According to MSM Group, the allegations portray it as being involved in fraud, money laundering, and diversion of public funds, with the intention of instigating malicious prosecution and disrupting its legitimate business operations.
MSM Group has highlighted its global operations in various sectors, including oil and gas, cement, power, and finance, and maintains that the funding for its cement venture came from the U.S. Stock Exchange and a strategic partnership with Chinese investors. The company claims that Mr. Adebayo’s allegations were aimed at damaging its reputation and exposing it to public hatred and ridicule.
The lawsuit is significant as it highlights the importance of accuracy and verification in public discourse, particularly when making allegations against businesses or individuals. The outcome of the case will be closely watched, as it may have implications for the intersection of free speech and defamation laws in Nigeria. As the case progresses, it is likely that more information will come to light regarding the allegations and the response of the defendants.
