Buhari's family has no shares in bank, telecommunication company

Buhari's family has no shares in bank, telecommunication company - Investors

- Investors have debubked the claim that President Muhammadu Buhari's family has shares in two organisations

- The investors claimed that the sales of the two organisations were transparent and there was no hidden buyer

A group of investors in Lagos state has debunked the claim by the Peoples Democratic Party (PDP)'s presidential candidate, Atiku Abubakar, that family of President Muhammadu Buhari owns shares in Etisalat and Keystone bank.

The group condemned the opposition party, PDP, for the claim and insisted that the sales of two companies followed due processes with the involvements of industries regulators.

Leadership reports that the group of investors led Michael Akekehgon, who spoke on behalf of the group said the process of selecting preferred bidders for Etisalat was opened and transparent.

He said: “For instance, after about a year of back and forth struggle, process of selecting a preferred bidder for the sale of 9Mobile, formerly Etisalat, the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) jointly, in their roles as regulators opted for an innovative approach to deal with a distressed company – 9mobile operated by Emerging Markets Telecommunications Services Limited (EMTS) which its predecessor, Mubadala Group, Etisalat International brand pulled out of the country due to massive debt.

“Whoever that is in doubt of the ownership structure of both Etisalat and Keystone Bank, have the liberty to verify his or her claim at the CAC."

Legit.ng earlier reported that the Atiku Abubakar raised allegation that President Muhammadu Buhari and his relatives own billion dollar shares in a Nigerian bank as well as a telecommunication company.

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This was contained in a statement issued by Phrank Shaibu, one of his aides on Wednesday, December 26.

Atiku said the call was necessary in view of reports that members of the president’s family own substantial share in Etisalat Nigeria, estimated at $2 billion.

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Source: Legit.ng

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