Three former Managing Directors of Nigerian refineries have threatened to sue The Punch newspaper for N50 billion in aggravated damages, accusing the media outlet of defamation and libel over a recent publication alleging their involvement in a multi-billion-dollar fraud.
The ex-MDs—Mr Ibrahim Onoja (Port Harcourt Refining Company), Mr Efifia Chu (Warri Refining and Petrochemical Company), and Dr Mustafa Sugnugun (Kaduna Refining and Petrochemical Company)—are demanding a full retraction, public apology, and compensation following a report by *The Punch* dated May 3, 2025.
The controversial report, titled “Authorities Trace N80bn to Ex-MD as $3bn Fraud Rocks Nigerian Refineries,” claimed that the Economic and Financial Crimes Commission, EFCC, had arrested the former MDs over alleged mismanagement of $2.96 billion allocated for refinery rehabilitation and that N80 billion had been traced to one of their personal accounts.
However, their lawyer, Reuben Atabo, SAN, refuted these claims in a letter sent to The Punch’s Lagos office, stating that the story was “grossly misleading and factually baseless.”
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He clarified that only Dr Sugnugun was invited by the EFCC for routine questioning and was not detained. Neither Onoja nor Chu, he added, had been contacted by any investigative authority as of the time the publication was released.
“There is no truth whatsoever to the claim that N80 billion has been traced to any of our clients’ personal accounts,” Atabo stated. “No criminal charges have been filed against them in relation to the refinery projects or any other issue.”
The legal team argued that the publication subjected the former MDs to public ridicule, irreparable reputational harm, and threats of physical danger, especially given the economic hardship linked to fuel scarcity in Nigeria.
The letter demands that The Punch publish a full retraction and an unreserved public apology in at least five widely circulated national newspapers and five international media platforms.
Additionally, the newspaper is required to pay the sum of N50 billion in aggravated damages within five days of receiving the letter, failing which legal action will be instituted both in Nigeria and in appropriate foreign jurisdictions.
Atabo warned that failure to comply would result in legal proceedings in Nigerian and international courts.
NAN
