Firm MD Denies Arrest

The managing director of Excel Optoelectronics Company Limited, Ambassador Emmanuel Shoon Patrick, has denied reports that he was tracked or arrested by security agencies, describing the claims as false and misleading.

Speaking with journalists in Abuja, Shoon said he had never been arrested by any security agency, including the Economic and Financial Crimes Commission (EFCC), over issues relating to a business transaction.

He attributed the reports to a dispute arising from a business deal between his company and the managing director of Folio Media Group, publishers of the Daily Times, Mr. Fidelis Anosike.

According to Shoon, the parties had entered into discussions for the supply of LED screens, but his company later withdrew from the transaction after becoming dissatisfied with the manner in which it was progressing.

He alleged that Anosike had sought to purchase the equipment on credit before proposing an initial payment of N10 million, which Shoon said prompted concerns that eventually led the company to discontinue the transaction.

Shoon  claimed that following the collapse of the deal, Anosike threatened to publish damaging reports against him and the company, including allegations that he had been arrested by security agencies.

He maintained that he had remained in communication with Anosike during his trip to China and dismissed claims that he had gone incommunicado.

The businessman also said the dispute is already before a competent court, adding that his decision to address journalists was intended to respond to media reports concerning the alleged arrest and to protect his reputation.

“As a businessman, my reputation is important, and I will continue to defend it against falsehood,” he said.

Responding to the allegations, Anosike told journalists that he entered into a business agreement with Shoon and Excel Optoelectronics Company but alleged that the company failed to fulfil its obligations.

He said he paid N10 million into Shoon’s account as part payment for the transaction but did not receive the agreed goods, claiming that the development resulted in significant financial losses.

Anosike maintained that he was the aggrieved party in the dispute and disclosed that he had reported the matter to the appropriate authorities for investigation.

The disagreement between both parties is currently the subject of legal proceedings.