Otedola sues ex-VP’s aide for ₦1bn, urges Tinubu to release subsidy report.
Billionaire businessman Femi Otedola has called on President Bola Tinubu to make public the full report of the Aigboje Aig-Imoukhuede-led probe into the fuel subsidy regime, while also announcing a ₦1 billion libel suit against Umar Sani, a former media aide to ex-Vice President Namadi Sambo.
In a statement issued Sunday, Mr Otedola dismissed Mr Sani’s recent publication linking him to subsidy fraud as “false, baseless, mischievous, and a shameless attempt to rewrite history.”
Clarifying his role, Mr Otedola said his company, Zenon Petroleum and Gas Limited, never traded in Premium Motor Spirit (PMS), the only product eligible for subsidy claims, but was a major diesel importer.
He said diesel was deregulated long before the Petroleum Subsidy Fund (PSF) scheme began, making any claim by Zenon under the scheme impossible.
Mr Otedola recounted that as a member of former President Goodluck Jonathan’s Economic Team, he was the first to alert the government to the “monumental fraud” in the subsidy scheme, which eventually led to parliamentary and other investigations.
He also revisited the Farouk Lawan bribery scandal, insisting that he acted in collaboration with the State Security Service (SSS) in a sting operation that ultimately led to Mr Lawan’s conviction
The businessman advised Mr Tinubu to release the Aig-Imoukhuede report, saying Nigerians deserve to know the truth and the real subsidy thieves.
On allegations about his dealings with the Asset Management Corporation of Nigeria (AMCON), Mr Otedola explained that his debts were transparently resolved under a court-supervised process after the 2008 financial meltdown, with AMCON itself commending his compliance.
Vowing to defend his reputation, Mr Otedola said: “Because of these deliberate lies and unfounded allegations, I have instructed my lawyers to file a ₦1 billion libel suit against Umar Sani. People must learn that reputations are not to be toyed with for cheap propaganda.”
He urged the public to seek the facts in his recently released book Making It Big, adding that he has “nothing to hide” and would not allow falsehoods to be written into history.
