Tag Archives: Femi Otedola

How we foiled kidnapping of Femi Otedola – Police

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Operatives of Nigeria Police Force have foiled an attempt to kidnap a Nigerian oil magnate, Femi Otedola.

 

The IGP’s Intelligence Response Team (IRT) accomplished this task when it arrested a three-man notorious kidnap gang on the 23rd June, 2016.

 

According to Force PRO, Don Awunah, the arrest was achieved through coordinated intelligence gathering and deployment of technical investigative tools that spanned several weeks.

 

“The Principal suspect, one Ikechukwu Daniel, a 28 year old indigene of Imo State, who is the mastermind of the gang, was rusticated from Ahmadu Bello University Zaria due to his cult related activities on campus in 2009/2010.

 

He also doubles as the IT guru of the kidnap gang with mastery of Computer applications. He made damning revelations of their criminal exploits in the South West of the Country.

 

‘Another member of the gang, 29 year old Adeyemi Kayode, a serving officer of the Nigeria Security and Civil Defence corps and a native of Ojoo in Ibadan, Oyo State serves as a Personal Assistant to the Commandant, NSCDC Oyo State Command. The suspect took undue advantage of his office to obtain the GSM number and location of their would be victim. He hatched the plan on how to kidnap the business magnate to make a demand of one billion naira ransom.

 

“The third suspect, Ayodele Temitayo, a native of Oyo in Ibadan, Oyo State who is the marksman and armourer of the gang, claimed to have been dismissed from 213 Battalion Maiduguri of Nigeria Army as a Private in 2015.

 

“All the suspects made confessional statements revealing that they had successfully carried out several high-profile kidnappings and two AK47 rifles loaded with live ammunition were recovered from them.

 

“While efforts are currently being intensified to apprehend other members of the gang and extend investigation to their other criminal enterprise, the Inspector General of Police, Ibrahim K. Idris, wishes to restate the commitment of the Nigeria Police Force to clamp down on all criminal activities across the country and reassures law abiding citizens that criminal elements would be eventually apprehended and charged to court.

 

“The IGP urges Nigerians to avail the Police with relevant information that will help in the crusade against crime; as such information would be treated with utmost confidentiality,” Awunah stated.

Otedola no longer a billionaire – Forbes

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Nigerian businessman Femi Otedola has fallen off the billionaire cadre of entrepreneurs.

According to Forbes, Otedola who is the Chairman of Forte Oil, suffered the plunge as he lost $1.3bn following a fall in the stock price of the company.

Forbes said, “As at the close of trading on Friday, Forte Oil’s share price plunged to a one-year low of N145 ($0.44) per share, down from an all-time high of N342 ($1.1) in March this year when FORBES published its annual ranking of the world’s richest people.

“Apart from the tumble in Forte Oil’s stock price, Otedola’s fortune has also been adversely affected by a central bank devaluation of the Naira in June. In dollar terms, the devaluation in addition to Forte’s floundering share price has knocked about $1.3 billion off the value of Otedola’s fortune which was pegged at $1.8 billion in March.

Otedola is now worth only $550 million according to the FORBES’ billionaires’ database.

Subsidy Scam: How I Collected $100,000 From Otedola For Farouk Lawan – Emenalo

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Clerk to the then House of Representatives Ad hoc Committee on Fuel Subsidy, Boniface Emenalo, on Monday told a Federal Capital Territory High Court, Lugbe, that he collected $100,000 from billionaire businessman, Mr. Femi Otedola, as part of the alleged $3m bribe promised to the then Chairman of the committee, Farouk Lawan.

 
The Independent Corrupt Practices and other related offences Commission, ICPC, is currently prosecuting Lawan for allegedly “corruptly” collecting $500,000 out of the $3m bribe he requested from Otedola in exchange for the removal of the name of the company of the businessman from the list of firms indicted by the House committee for allegedly abusing the fuel subsidy regime in 2012.

 

Emenalo, testifying as the first prosecution witness before Justice Angela Otakula, on Monday, said he collected the sum of $100,000 from Otedola in $100 bills.
He said, “I came across Femi Otedola during this assignment on April 24, 2012. I received persistent calls from Mr. Otedola in the morning and reported to Lawan and he asked me to play along with him, that he was with him (Otedola) the previous night.

 

“When Otedola called again, he asked me to come over to his house. He gave me the description (of his house). When I got there, he also confirmed that he was with my chairman the previous night. He gave me two bundles of dollar bills in $100 denomination. Each bundle was $50,000 making it $100,000 that were not converted.

 

“When I got back to the office, I wrote a memo forwarding the money to my chairman that same April 24, 2012, which he took from me.”

 

A copy of the memo was tendered before the court and marked Exhibit PW1 C.
The defence, led by Mike Ozekhome (SAN), did not object to the admissibility of the document.

 

Under cross-examination, Emenalo told the court that it was surprising when he read in the newspapers that Otedola actually gave him $120,000.

 

Emenalo, who was led in evidence by the lead prosecuting counsel, Chief Adegboyega Awomolo (SAN), said Otedola’s three companies, Zenon Oil & Gas, AP and Forte Oil, were named in the subsidy report.

 

However, Ozekhome sought an adjournment to serve the prosecution with a notice to produce an additional statement made by the witness as contained in the prosecution’s proof of evidence.

 

Meanwhile, the judge adjourned till April 12 and 13, 2016 for continuation of trial and cross-examination.

 

Credit : Daily Post