Mikano Strongly Denies Allegations Against Chairman Mofid Karameh
- Mikano International vehemently denies allegations linking Chairman Mr Mofid Karameh to criminal activity
- The company emphasises its three-decade reputation founded on integrity and responsible conduct
- Mikano is exploring legal options to defend its Chairman against defamatory claims
Mikano International Limited, a leading Nigerian conglomerate in power generation, steel fabrication, and real estate, has issued a firm rebuttal against recent allegations published by Sahara Reporters linking its Chairman, Mr. Mofid Karameh, to criminal activity.
In a strongly worded statement released on Friday, the company categorically rejected the claims, describing them as "entirely unfounded, baseless, and defamatory."
Source: Facebook
The report in question, published on April 9, 2026, attempted to associate Mr Karameh with a narcotics-related incident on the Greek island of Mykonos involving a luxury yacht.
Mikano maintained that Mr Karameh has never been involved in, investigated for, or associated with any illegal activity.
Decades of integrity under scrutiny
For over three decades, Mikano International Limited has established itself as a trusted player in Nigeria's business landscape.
Founded in 1993 by Mr Mofid Karameh, the company has grown into a major conglomerate known for manufacturing generators, engaging in steel fabrication, and venturing into real estate developments such as the Karameh City Project.
Its operations span power solutions critical to Nigeria's infrastructure and broader economic contributions across West Africa.
The company emphasised that its reputation is built on "integrity, transparency, and responsible business conduct."
It expressed deep concern over the spread of unverified information, warning that such reports risk misleading the public and causing unjust harm to both personal and corporate credibility.
"Mikano takes this reputation seriously," the statement read. Stakeholders, including long-term partners and clients who have relied on the firm's reliable power generation solutions amid Nigeria's energy challenges, have come to expect high ethical standards.
Firm rejection, call to disregard report
Mikano urged partners, clients, and the general public to "disregard the report in its entirety," labelling the allegations a "gross misrepresentation" of Mr Karameh's character and the values the organisation upholds.
The company noted that no credible evidence has linked the chairman to any wrongdoing, and it views the publication as an attempt to tarnish a business leader who has contributed significantly to Nigeria's industrial sector.
This is not the first time Mikano or its directors have faced legal or regulatory scrutiny.
In early 2025, the company and several directors, including family members, were charged in a Federal High Court case related to allegedly impeding officers of the Federal Competition and Consumer Protection Commission (FCCPC) during a search warrant execution.
However, the current Sahara Reporters claims centre on an entirely separate international narcotics matter, which Mikano insists has no connection to Mr. Karameh.
Legal options under review
Mikano International Limited announced that it is actively reviewing all available legal options and will take appropriate actions to defend the reputation of its Chairman and the organisation as a whole.
This could include defamation proceedings or demands for retraction and apology, common responses in high-profile media disputes in Nigeria.
Despite the controversy, the company reaffirmed its commitment to excellence across all sectors.
"We remain steadfast in our dedication to delivering quality solutions and appreciate the continued trust and support of our stakeholders," the statement concluded.
As the story develops, industry observers will watch closely how this denial plays out, especially given Sahara Reporters' history of investigative journalism on corruption and high-profile figures.
Source: Getty Images
For now, Mikano stands firm, positioning the allegations as malicious and without merit.
Mikano breaks silence on Atiku's position in firm
Legit.ng earlier reported that following claims that the 2023 presidential candidate for the Peoples Democratic Party (PDP), Atiku Abubakar, is the owner of Mikano International Limited, and the promoters of Mikano Generators, the company has decided to set the records straight.
Leadership reports that the managing director of Mikano International Limited, Firas Mamlouk, said the company is not owned, affiliated, associated, authorised, endorsed by, or in any way officially connected with Atiku.
The company which was established in 1993, deals with power generation, steel fabrication, electrical products, and solutions, urged the general public to disregard such a claim.
Source: Legit.ng
