BUA Group has denied claims that its Chairman, Abdul Samad Rabiu, made a bid to buy a 70 percent stake in Kano Pillars, a team in the Nigeria Premier Football League (NPFL). The company called these claims false and misleading.
In a statement shared with PREMIUM TIMES on Monday, BUA Group stated that neither the company nor its chairman had proposed buying shares in the Kano 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 percent stake in Kano Pillars Football Club,” the statement said.
The company asked the public and the media to ignore the claims and only trust information from its official channels.
This clarification came after many reports claimed that Mr Rabiu, one of Africa’s richest men, had offered about $1.1 million for a controlling stake in the four-time Nigerian champions. The reports suggested that the deal would let the Kano State Government keep a minority stake while giving operational control to BUA Group.
The news had excited fans and football stakeholders, especially with calls for more private investment in Nigerian football clubs. But BUA’s statement has put a stop to the rumors about the acquisition bid.
Founded in 1988 by Mr Rabiu, BUA Group is one of Africa’s top companies in manufacturing, mining, food, and infrastructure. It has interests in cement production, mining, construction, real estate, and more.
Neither the Kano State Government nor Kano Pillars has made any official comments on the acquisition rumors before BUA issued its denial.
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