BUA Group has dismissed reports claiming its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70 per cent stake in Nigeria Premier Football League (NPFL) side Kano Pillars, describing the reports as false and inaccurate.
In a statement made available to PREMIUM TIMES on Monday, the company confirmed that neither the organisation nor its chairman had made any proposal to acquire shares in the Kano-based club.
|
|
“Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70 per cent stake in Kano Pillars Football Club,” the statement read.
The company urged members of the public and the media to disregard the claims and rely solely on information released through its official communication channels.
|
|
|
|---|
The clarification follows widespread reports that Mr Rabiu, one of Africa’s wealthiest businessmen, had offered approximately $1.1 million to acquire a controlling stake in the four-time Nigerian champions. The reports alleged that the proposed deal would allow the Kano State Government to retain a minority stake while handing operational control of the club to the industrial conglomerate.
READ ALSO: NPFL: Kano Pillars appoint Babaganaru as acting Technical Adviser
The speculation had generated considerable excitement among supporters and football stakeholders, particularly amid growing calls for increased private-sector investment in Nigerian football clubs. However, BUA’s statement has effectively ended speculation surrounding the reported acquisition bid.
Founded in 1988 by Mr Rabiu, BUA Group is one of Africa’s leading manufacturing, mining, food, and infrastructure conglomerates, with interests spanning cement production, mining, construction, real estate, and other sectors.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
Neither the Kano State Government nor Kano Pillars had officially commented on the reported acquisition before BUA issued its denial.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
