By Frank Momoh
The Chief Executive Officer of Galaxy Transportation and Construction outfit, Mr. Babagana Abba Dalori, has attributed failure to settle Returns on Investment (RoI) to its investors for 5 months was attributed to natural disasters arising from flood and mining site.
According to him, the disasters occurred in Jere characterized with earth tremors in Abuja, which led to the suspension of quarry activities by the federal government.
In a statement issued in Abuja on Tuesday, signed by the company’s communication officer, Abdulhamid Ibrahim, while responding to inquiries over allegations leveled against its chief executive officer, Babagana Abba Dalori, who is in the custody of the Economic and Financial Crimes Commission, EFCC since March 29.
Mr Dalori has been accused by some investors of running a fraudulent business by some of his clients and partners after he failed to settle their returns of investment for 5 months, from October 2018 to March 2019, which he attributed to natural disasters arising from flood and mining site leading to suspension of quarry activities for three months by the federal government.
The company admitted, that it has other subsidiary businesses, which it said, were all established from the profits it generates.
“Yes, we have registered Galaxy Farms, Galaxy Oil and Gas, G-Nature, Galaxy Blocks, Galaxy Shops and Galaxy Movies,’ it said.
“Even though the payments started from August, like I have repeatedly said, Babagana’s detention from March up to this point, has further compounded the situation and frustrated several of our efforts.
“When we acquired license from the ministry of solid minerals to mine sand at Jere, Kaduna state, we eventually had to acquire some of the adjoining lands and compensate the people who use it as farmlands.
“But we realized that the land was so big and that compensating the people was not enough, so we converted the remaining land to a maize and soya bean farm and employed the people to work for us.
” So it is from the proceeds of the farm that we started the fish pond, we used some of the maize and soya beans we harvest to produce the fish feed,” the statement said.
The statement further explained that the nonpayment of their clients from October to March has nothing to do with the setting up or running of other businesses.
“We also set up the Galaxy Security because we realized we are spending so much to get security men from other outfits to guard our equipment, sites and offices.
“So we get people who do not have jobs from the communities where we operate, to, by way of giving back, train them and recruit them as guardsmen.
“I have attached to this the receipts of the buses we had purchased from Innosons, and to say that we collect people’s money and refuse to buy the buses is the highest form of uncharitable misinformation.
“I understand that many do not know that the other transportation services we offer are not necessarily for shuttling.We transport sand and gravel which we produce from our sites to construction sites,” he said.
However, Babagana is undergoing trial in two courts over allegation of fraud, which he was granted bail in July by a federal high court, Kwali, in a ruling by Justice Venchek Gaba, the presiding judge.
He was however rearrested by the EFCC immediately after he was released on account of new charges.
The Commission also arraigned him before another court in Nyanya where he was directed to be detained for two months by the presiding judge, Justice Muawiya Idris.
In August, Babagana slammed a N50 billion suit against the EFCC, claiming damages for an alleged illegal detention and tarnishing his image.