SCOA Nigeria Plc has issued a strong rebuttal against recent media reports criticizing the appointment of its Managing Director/Chief Executive Officer, Mr. Massad Boulos, as a Senior Adviser on Arab and Middle East Affairs to the President-elect. The company dismissed these criticisms as “baseless and misguided,” labeling them a smear campaign driven by those unfamiliar with Boulos’s extensive business achievements and strong leadership.
Mr. Boulos, a prominent Lebanese-American businessman, has come under scrutiny following his appointment. However, Mr. Magnus Onyibe, Non-Executive Independent Director and Chairman of the Audit Committee at SCOA Nigeria Plc, issued a statement defending Boulos’s credentials and contributions.
Onyibe emphasized Boulos’s exceptional business acumen and his crucial role in steering SCOA Nigeria Plc to its current position as a leading player in the Nigerian industrial and economic sectors. He highlighted Boulos’s expertise in complex international transactions and his ability to facilitate trade between Nigeria, France, and Germany.
“Contrary to unfounded claims in certain media outlets, the suggestion that Mr. Boulos is not a billionaire is both baseless and misleading,” stated Onyibe. “As the President-elect rightly described, Mr. Massad Boulos is a ‘deal-maker,’ a characterization grounded in fact.”
Onyibe further underscored Boulos’s significant contributions to the FADOUL Group, a multinational conglomerate with a market valuation exceeding $1 billion. Established in 1966, the FADOUL Group operates across West and Central Africa, employing over 20,000 individuals and playing a crucial role in regional economic growth.
SCOA Nigeria Plc, under Boulos’s leadership, has established itself as a leading supplier of trucks, power generators, agricultural equipment, and construction machinery. The company serves major clients such as Julius Berger, Lafarge Africa, the Dangote Group, and others, contributing significantly to critical infrastructure projects across Nigeria, including the Lagos-Ibadan Expressway and the Abuja-Kano highway.
SCOA Nigeria Plc has also played a pivotal role in transformative projects like Eko Atlantic City, providing essential machinery for the development of this ambitious urban project, which will soon be home to the world’s largest US Embassy.
Onyibe concluded by stating, “Efforts to denigrate Mr. Boulos’s qualifications and achievements are not only futile but also a disservice to the facts. Mr. Boulos’s expertise and accomplishments are well-suited for his new role, where he will undoubtedly deliver impactful results on behalf of the President-elect and the United States.”
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