The First Group, a foremost property company based in Dubai has denied involvement in 200 billion dollars fraud which is being investigated by the Economic and Financial Crimes Commission (EFCC)… “The First Group categorically denies the baseless allegation published by certain sections of the Nigerian press regarding its alleged involvement in money laundering or any other form of illegal business dealings in relation to its Nigerian clients.”

“The TFG Real Estate, Limited fully abides by Nigeria’s anti-money laundering regulations. In line with this commitment, TFG Real Estate, Limited regularly files the required reports with the section of the Special Control Unit on Money Laundering division of the EFCC in Abuja. Furthermore, The First Group’s Dubai operations, which are indirectly implicated in these baseless allegations, are governed by UAE Federal Law, and in particular, the country’s antimony laundering laws, which rank among the world’s most robust.”

“The First Group is fully transparent in its operations and has a proven track-record of delivering world-class developments in the United Arab Emirates over many years. Its priority is protecting the interests of its clients and generating strong returns on their investments while complying with all legal statutes in the markets in which it operates. In respect to the current media speculation, The First Group will explore all legal options to defend its commercial reputation in Nigeria.”