The chairman of MSM Group, Muazzam Mairawani, has dismissed recent allegations of impropriety against the conglomerate, describing them as baseless, unfounded, and orchestrated attempts to tarnish a company’s reputation built on transparency and excellence.
Speaking in Abuja during an interactive session with journalists, Mairawani said the allegations were the handiwork of faceless individuals threatened by the Group’s rising profile.
“I want to state clearly and categorically that these allegations are completely unfounded, baseless, and without merit. They are attempts to tarnish the reputation of our Group, which has, over the years, stood for excellence, transparency, and integrity in all its operations,” he said.
He noted that relevant authorities had already been informed and were working to unmask those behind the malicious claims.
The MSM chairman credited President Bola Ahmed Tinubu’s foresight for the Group’s breakthrough in the oil and gas sector, recalling how initial scepticism from industry players gave way after the President approved the company’s entry.
“Four years ago, I was not fully operating in oil and gas. Many did not believe in us when I approached the NNPC with ideas to enhance production. But the moment I met Mr. President, he believed in us. To God be the glory, we didn’t let him down,” Mairawani stated.
According to him, the presidential backing emboldened MSM to expand and attract fresh investment, leading to the discovery of oil reserves valued at about $15bn in one asset alone, a figure he claimed even the NNPCL was unaware of.
Mairawani further revealed that through its Frontier Capital acquisition, MSM Group was at the final stages of closing a $225m Initial Public Offering (IPO) in the United States, expected to be sealed this month.
“Our target is to invest $2.7bn every year in Nigeria. Without the President’s support, MSM would not have achieved these feats. His approval gave us the courage to present our business on the global stage,” he added.
He reiterated that MSM Group remains focused on expanding opportunities across oil and gas, cement, shipping, and power, with the mission of “Bringing Excellence to the Globe.”
Mairawani thanked Nigerians and international partners for their support and assured that the conglomerate would continue contributing to national development, job creation, and improved livelihoods.
“MSM is here to stay. Allegations will not distract us from delivering excellence across all our business operations,” he concluded.
