I did not dupe any investor of N7b – Abba Dalori

Doosuur Iwambe, Abuja

The Director and chief executive officer, of Galaxy Transportation and Constructions Services Limited, Engr. Babagana Abba Dalori has denied allegations that he duped investors in his company of over N7 billion.

Speaking through a statement issued on his behalf by Cletus Enejo, the management described the arrest and detention of Engr. Abba Dalori by the Economic and Financial Crimes Commission (EFCC) as deliberate attempt to tarnish his hard-earned reputation as well as that of company unnecessarily despite the fact that the case is civil.

He said that the company has been passing through some challenges following the suspension of quarry activities in Abuja by the federal government since October 2018.

‘’For close to three (3) months from October as a result of earth tremors in the capital city, the company’s quarry at Mpape where it generates most of its income could not operate within the period.

‘’Our MD and other stakeholders in the mining sector had to work tirelessly before the ban was lifted. In order to meet the new conditions by the Ministry of Mines and Solid Minerals for quarry operations, as well as the company’s determination to recover the three-month loss, some heavy-duty equipment were also procured and installed.

Right now as we speak, the quarry operations have fully resumed and functional including on weekends. Preparations are also underway to extend operations to 24 hours in order to recover fast and meet the company’s obligations’’, he stated.

While urging members of the public to disregard the news that its MD was engaged in fraudulent activities, the statement added that the company consultants s and other financial firms have been engaged to determine the fastest way to pay our clients based on the incomes we are generating.

‘’In the next few days, it is our hope to develop a payment schedule based on their recommendations and begin payment disbursements’’.

It could be recalled that the EFCC had arrested the 35-year-old businessman for allegedly duping investors in his company of over N7 billion.

Dalori, a 2010 graduate of Electrical Electronics from the University of Maiduguri, is the Managing Director, Galaxy Transportation and Construction Services Limited.

According the anti graft agency, investigation had revealed that he allegedly made a fortune by luring unsuspecting investors with mouth-watering return on investment (RoI) that ranged from 125% to as high as 200% on their seed capitals in the company.