Billionaire Folorunso Alakija Who Was Former Tailor To Babangida’s Wife Threatens Legal Action Over $1.27 Million EFCC Money Laundering And Fraud Report As SecretsReporters Publishes Documents, Dares Her To Go To Court

Secrets Reporters

Apostle Folorunso Alakija has threatened legal action over the SecretsReporters report titled, “EXCLUSIVE: Africa Richest Woman Folorunso Alakija Who Made Blouses For IBB Wife Before Owning Oil Blocks Now Under EFCC Probe For $1.27 Million Fraud, Undeclared Foreign Transfers, Altered Documents And Money Laundering” dismissing the report as false and malicious and demanding that it be pulled down from every platform.

In a public notice posted on her Facebook and Instagram page and signed by her, Alakija said her attention had been drawn to what she called a highly defamatory, misleading and malicious publication circulating online regarding her business operations. She said the claims of “fraud, money laundering, and evasions” were entirely false and baseless, and a deliberate attempt to misrepresent her person.

She stated that all her corporations are law abiding and operate with total transparency, fully aligned with all regulatory frameworks globally. She demanded that all publications on the matter “must be immediately removed, deleted, and depublicised from all platforms”, and warned that failure to comply would leave her legal team with no alternative but to pursue appropriate legal actions against the originators of the report and against every media platform that replicates it. She urged the public to disregard the report.

SecretsReporters stands on its report in full. Not one line of it will be removed, deleted or depublicised. The report of October 21, 2026 was built entirely on the EFCC’s own sworn court documents in Suit No. FHC/L/CS/482/26 at the Federal High Court, Lagos, the fundamental rights action FAMFA Oil Limited itself filed against the Commission. Those documents are published with this follow up for every reader to inspect.
The documents show that the EFCC is investigating an alleged case of conspiracy to commit fraud, economic sabotage, tax evasion and money laundering reported to it by the Presidency through the Revenue Mobilisation Allocation and Fiscal Commission. The RMAFC petition of October 17, 2025 alleged undeclared and under declared foreign transfer payments, crude oil exports and tanker shipments, and put the sum converted to personal use against the Applicant’s involvement at $1,268,969.33. The Commission’s investigator, Abubakar Magaji, swore to those facts in a counter affidavit filed in opposition to FAMFA’s motion.

The documents further show that by a letter of March 25, 2026, with reference CR:3000/EFCC/LS-2/FEMS/01-26/VOL.1/001, the Commission invited FAMFA’s Director of Finance to report for an interview on June 4, 2026 at Block C, Room 11, 7A Okotie Eboh Street, Ikoyi, Lagos, and to come with certified schedules of every foreign transfer payment through authorised banks from 2010 to 2019, naira and domiciliary account statements and every Form A transaction for the same period. FAMFA’s answer to that invitation was the court action, filed on April 1, 2026, asking the court to stop the Commission.

Alakija has a courtroom already. It is the same Federal High Court where her company ran when the EFCC came calling, and the Commission’s sworn papers are waiting there. If she believes this report wronged her, the door of that court stands open to her as it stood open when she wanted the investigation stopped. SecretsReporters will meet her there, and the documents now partly published will speak for themselves.