By Mashe Umaru Gwamna
The Managing Director of Excel Optoelectronics Company Limited, Ambassador Emmanuel Shoon Patrick, has denied reports alleging that he was arrested or tracked by security agencies, describing the claims as false and a fallout of an ongoing business dispute.
Addressing journalists in Abuja, Shoon said he had never been arrested by the Economic and Financial Crimes Commission (EFCC) or any other security agency over any business transaction.
He explained that the controversy stemmed from a failed business deal between his company and the Managing Director of Folio Media Group, publishers of the Daily Times, Mr. Fidelis Anosike, over the proposed supply of LED screens.
According to Shoon, both parties held discussions on the transaction, but Excel Optoelectronics later withdrew after becoming dissatisfied with the terms and direction of the deal.
He alleged that Anosike initially sought to purchase the equipment on credit before proposing an upfront payment of N10 million, a development he said raised concerns and prompted the company to discontinue the transaction.
Shoon further claimed that following the collapse of the deal, Anosike threatened to publish damaging reports against him and the company, including allegations that he had been arrested by security agencies.
He also dismissed claims that he went incommunicado while on a business trip to China, insisting that he remained in contact with Anosike throughout the period.
The businessman noted that the matter is already before a competent court, adding that his decision to address the media was aimed at correcting what he described as false reports and protecting his reputation.
“My reputation as a businessman is important, and I will continue to defend it against falsehood,” Shoon said.
Responding to the allegations, Anosike said he entered into a business agreement with Shoon and Excel Optoelectronics Company Limited but alleged that the company failed to deliver the agreed LED screens after receiving a N10 million part payment.
He claimed the failed transaction caused him substantial financial losses and maintained that he is the aggrieved party in the dispute.
Anosike added that he has reported the matter to the appropriate authorities for investigation.
The dispute between both parties is currently before the court for determination.
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