Femi Otedola has indeed instructed his lawyers to file a ₦1 billion libel suit against Umar Sani, a former media aide to ex-Vice President Namadi Sambo. The lawsuit stems from Sani’s allegations that Otedola’s company, Zenon Petroleum and Gas Limited, benefited from the petroleum subsidy scheme during the Goodluck Jonathan administration.
Key Points:
- Denial of Allegations: Otedola has vehemently denied the claims, stating that Zenon Petroleum and Gas Limited only traded in diesel, which was deregulated and not eligible for subsidy claims under the Petroleum Subsidy Fund (PSF) scheme.
- Whistleblower Role: Otedola claims he was the one who exposed the subsidy fraud while serving on President Jonathan’s Economic Team, and his actions led to parliamentary investigations into the scam.
- Farouk Lawan Scandal: Otedola also clarified his involvement in the Farouk Lawan bribery scandal, stating it was part of a sting operation with the Department of State Security (DSS) that led to Lawan’s conviction.
- AMCON Dealings: Otedola addressed allegations about his dealings with the Asset Management Corporation of Nigeria (AMCON), explaining that he settled his debts by handing over assets worth hundreds of billions of naira under a court-ordered settlement ¹ ² ³.
Otedola’s Demands:
- Public Apology: Not explicitly mentioned, but the ₦1 billion libel suit aims to protect his reputation.
- Release of Aig-Imoukhuede Report: Otedola has urged President Bola Tinubu to release the full report of the Aigboje Aig-Imoukhuede-led probe into the fuel subsidy regime, allowing Nigerians to know the truth about the real beneficiaries of the subsidy scheme.
