Olam Group denies allegations of multi-billion dollar forex fraud in Nigeria

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An Olam logo is pictured in their office in Singapore

An Olam logo is pictured in their office in Singapore August 14, 2017. REUTERS/Edgar Su/File Photo Acquire Licensing Rights

Sept 11 (Reuters) – Singapore’s Olam Group (OLAG.SI) on Monday denied reports by the Nigerian media saying its units in the African country were being investigated by the secret police for a multi-billion dollar foreign exchange fraud.

“The company categorically denies the allegations in the Articles,” Olam said in statement, and has directed its audit committee to review the matter.

Reporting by Echha Jain in Bengaluru; Editing by Sonia Cheema

Our Standards: The Thomson Reuters Trust Principles.

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