The reports alleged that the retailer, which is based in Cape Town, South Africa, has started the formal process to consider the sale of all or a majority stake in its shares in Nigeria.
In the same trading statement, it was claimed that the retailing giant said that the recently released results do not reflect their operations in Nigeria as it will be classified as a discontinued operation.
Now, the Country Director for Chastex Consult, Ini Archibong, told Vanguard Nigeria that the retailing giant is not leaving Nigeria after all.
“We have only just opened to Nigerian investors which we have also been talking to just before now. We are not leaving, who leaves over a $30billion investment and close shop? It doesn’t sound right.
“We only gave this opportunity to Nigeria investors to come in and also help drive our expansion plan in Nigeria. So we are not leaving.
“I have tried to say this to many people as I can. There should be no panic at all and all of that. There is no truth in that report.”