Maryam Aminu
Excel Optoelectronics Company Limited and its Chief Executive Officer, Amb. Emmanuel Shoon Patrick, have denied allegations of fraud and financial impropriety circulating in sections of the media, describing the reports as inaccurate, misleading, and harmful to their corporate and personal reputations.
In a Right of Reply addressing publications dated December 16, 2025, and February 5, 2026, the company refuted claims suggesting that the Federal Competition and Consumer Protection Commission (FCCPC) had referred it and its CEO to the Inspector-General of Police over alleged financial misconduct linked to airport LED installation projects.
The disputed reports alleged that funds meant for corporate accounts were diverted into personal accounts, leading to tax evasion, contract non-performance, and delays in airport LED upgrades nationwide.
They also alluded to possible investigations by the Economic and Financial Crimes Commission (EFCC) and portrayed Amb. Patrick as an intermediary in questionable transactions involving a Chinese firm and Nigerian concessionaires.
Excel Optoelectronics, however, maintained that the allegations stem from a private commercial disagreement and do not amount to any criminal wrongdoing.
The company accused the media platforms involved of publishing serious allegations without seeking its response, describing the action as a breach of constitutional fair hearing provisions and the Nigerian Union of Journalists’ Code of Ethics.
The firm further alleged editorial imbalance, noting that while the identity of the complainant was concealed, its CEO was named and presented in criminal terms. It argued that the reports amounted to a “trial by media,” allegedly driven by vested commercial interests.
Giving its account of events, Excel said the dispute originated from a business engagement in December 2025 with Folio Media Group Ltd., owned by Daily Times publisher, Mr. Fidelis Anosike, who requested LED screens on credit for installation at the Port Harcourt International Airport.
According to the company, while it declined full credit terms in line with internal policy, it agreed to release one LED unit as a goodwill gesture after a ₦10 million deposit was paid against a ₦28.3 million invoice, inclusive of VAT. Excel stated that the terms, including a non-refundable deposit clause, were accepted by Folio Media.
The company said disagreements later emerged over the outstanding balance, leading to a breakdown in the business relationship. It alleged that following this, threats were made to use media platforms to exert pressure, escalating what it described as a purely commercial dispute.
Excel Optoelectronics stressed that no additional payments were received, no public funds were involved, and all tax obligations were duly observed. It added that the matter is currently before the courts and advised media organisations to exercise restraint while legal proceedings are ongoing.
Amb. Patrick also reaffirmed that Excel Optoelectronics is a Nigerian-owned firm with international technology partnerships, particularly with Chinese manufacturers, and has executed LED and digital infrastructure projects across the aviation, corporate, and public sectors.
The company called on the media outlets involved to publish its Right of Reply with equal prominence, amend or withdraw the disputed reports, and issue a public apology.
It warned that failure to do so would result in further legal and regulatory actions, including petitions to professional bodies and defamation suits.
Excel Optoelectronics said its goal remains the correction of public records, insisting it will resist attempts to use media platforms to settle private commercial disputes or damage its reputation.
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