Stallion Group has reacted to an article titled, ‘PMB’s Corruption War And Probe of Stallion Group,’ published in a newspaper (not THE NATION), saying the story is a misrepresentation of the facts.
It said: ‘’Stallion is shocked that a highly respectable newspaper will allow the issuance of such a derogatory article against one of Nigeria’s foremost conglomerates, without any basis and due verification of its content. Stallion rejects the contents of the article as baseless, defamatory and a concoction of lies aimed at creating a negative public perception of the 45-year-old business conglomerate.
‘’The contents of the article would have demanded a simple verification exercise with the Group by the editors of the Leadership, before going ahead with the publication.
While we have read from media reports that the Honorable House of Representatives, we are contending through stipulated due process and judicial systems that the retroactive duties are not payable, and that Stallion has paid N17.15 billion at the time the imports were duly cleared by the Nigeria Customs.
‘’All imports and duties were paid as per the rice policy of the Federal Government of Nigeria, there is no question of any evasion of duty whatsoever.
‘’Importantly, the matter is now with the respected Courts of the country and is sub judice. Stallion Group reiterates its commitment to be fully compliant with any final determination made by the Courts in this matter.
‘’Stallion is also fully committed to Nigeria’s quest for selfsuffi-ciency in rice production and has since 2007, established fully integrated rice production facilities of 430,000 tonnes with ongoing projects to expand to 1.50 million tonnes.
‘’Stallion dismisses the following allegations made in the referred article, including words such as the group has a “bad business record, several breaches and underhand business activities, accused of bringing rice into Nigeria on the cover that their cargoes were carrying fertilizer.”
‘’These are baseless as there are no proven charges against the Group in its 45-year history. The Group has a clean, highly compliant history and has successfully defended any frivolous allegations through the country’s respected due process.
‘’The Federal Government of Nigeria ranked stallion, Nigeria’s second largest conglomerate in 2014. As key criteria for the award, the Government considered the amount of taxes paid, the employment generated, Corporate Social Responsibility and the companies’ turnover.
Stallion was also awarded as the “Company of Year” in 2014 by the Leadership Newspaper.
‘’The writer further moves to seriously undermine Stallion’s pioneering efforts in the Automotive industry as follows: “In addition, the Stallion Group which claims to have vehicle assembling plant in Nigeria, only imports cars into the country which it supplies to various ministries, agencies and parastatals, most times with undue waivers which amounts to short-changing the Nigeria’s revenue purse and therefore contributing to her economic woes”.
‘’Stallion first of all acquired and successfully resuscitated the moribund VWON Limited, restoring local production of commercial vehicles for the country’s mass transit systems and providing gainful local employment and skilled training to its staff.
‘’Stallion has partnered with global automobile leaders including Nissan, Hyundai, Volkswagen (back in Nigeria after 25 years), IVECO and Ashok Leyland to assemble their brands in Nigeria. Stallion’s plants and products have been inspected by these world leaders in the industry and passed for quality and other international benchmarks. Such vehicles are plying on Nigerian roads.
‘’The allegations in this regard can be deemed frivolous just by the fact that these highly compliant multinationals will not announce assembly partnerships with Stallion in the global media if there was no such operation. Stallion got no undue waivers and has been a committed supporter of the country’s efforts to make Nigeria the region’s automobile hub.
‘’All importation records of the group in the automobile sector are available with the Customs and other authorities for scrutiny; it can be easily verified, all duties have been paid without any “undue waivers” in accordance with the automotive policy of the country.
‘’Another allegation is the contention by the author that “The Group has also been associated with untidy arms importation contracts for the Nigerian government.”
‘’We strongly urge that the Leadership issues a public apology for issuing such a publication in order to avoid further action to defend our reputation.’’
