The arrest of the Chief Executive Officer of Galaxy Transportation and Construction Services Ltd by the Economic and Financial Crime Commission (EFCC) is not based on fraud, says an official of the company, Mr Cletus Onoja.
Onoja said in a statement made available to newsmen on Tuesday in Abuja that Mr Babagana Dalori, the Chief Executive Officer of the company was merely taken for investigation by the EFCC following a petition by the company clients.
He said it was not true that Dalori’s arrest and detention was based on fraud or running of phantom schemes.
Onoja explained that what was at stake was that the company could no longer meet its obligations to its clients within the time expected of it for reasons beyond its control.
“As such, some investors who were not satisfied with our explanation and efforts currently put at recovering the loss petitioned the EFCC even though the matter was civil and not criminal.
“As an obedient citizen of the country, the MD/CEO turned in and gave himself to the Commission’s interrogations,’’ he added.
He said that some of the company’s clients were disgruntled by the inability of the company to settle their payment as a result of several factors, adding that the company’s lawyers are currently handling the matter with the EFCC.
According to Onoja, since commencement in 2010, the company has never defaulted in its obligations to remit what is due to each of its investors.
“It is on record that even when the country was in recession in 2016 and 2017, our company did not fail to meet its obligations to pay its clients and business partners,” the official said.
He said the company runs a legitimate transportation and construction services business in over five states in the country with its headquarters in Abuja for the last nine years.
Onoja said that the company’s relationship with its clients remained fundamentally civil, where both parties benefited from the proceeds of the businesses it did.
According to him, it is rather sad that our company is facing this trial at this point after it has enjoyed a steady growth and built strong relationship with its investors.
“The company’s management is working round the clock to overcome the challenges; it is sad that it has already caused serious worries in the minds of our clients and affected our cordial relationship.’’
Onoja listed reasons the company was unable to pay its clients since October 2018 to include the flood in Jere, Kaduna State, where the company lost its largest dredger at its sand mining site overnight.
Others are the suspension of quarry activities in Abuja by the Federal Government for close to three months from October as a result of earth tremors in the capital city.