24th August 2025
By Peter Omopo
Nigerian conglomerate MSM Group has denied allegations of financial misconduct levelled against it by the Oduduwa Transparency Network, insisting the claims are “baseless and unsubstantiated.”
The group, which operates in oil and gas, fertilizers, shipping, and agriculture, said it has petitioned key security and anti-corruption agencies, including the Department of State Services and the Economic and Financial Crimes Commission, calling for a full investigation into the allegations.
“As a law-abiding corporate entity, MSM Group remains committed to full cooperation with the authorities to ensure justice is served,” the company’s chairman, Muazzam Mairawani, said at a press briefing in Abuja on Sunday.
The controversy stems from a press conference held on August 6 by the Oduduwa Transparency Network, where its president, Mahmud Adebayo, accused MSM Group and its subsidiaries of money laundering, misappropriation of public funds, and conspiracy.
MSM Group has since dismissed the claims, describing them as malicious attempts to damage its reputation. “These allegations are completely unfounded, baseless, and without any merit. They are attempts by faceless individuals to tarnish the reputation of our Group, which has, over the years, stood for excellence, transparency, and integrity,” Mairawani said.
In a letter dated August 11 and addressed to the Inspector-General of Police, the DSS Director-General, and the EFCC Chairman, the company’s legal counsel, Habeeb Oredola, urged the agencies to investigate and prosecute those behind the “defamatory publications.”
Mairawani reaffirmed the group’s focus on national development, job creation, and industrial growth. “We have built MSM Group on the values of trust, accountability, and innovation, and nothing will distract us from our mission of ‘Bringing Excellence to the Globe,’” he said.
Founded in 2011, MSM Group has grown into a multi-sector conglomerate. In March 2025, it signed a $2.4 billion agreement with Kebbi State to establish a three-million-ton-per-annum cement plant, projected to create at least 45,000 jobs.
