Otedola sues Sani for N1billion over alleged subsidy fraud 

Nigerian businessman, Femi Otedola, instructed his lawyers to file an N1 billion libel suit against Umar Sani. Sani, a former aide to Vice President Namadi Sambo, made allegations linking Otedola to the massive fuel subsidy fraud under the Goodluck Jonathan administration.

This legal action directly counters Sani’s claims. Specifically, Sani had accused Otedola of “hypocritical, selective, and convenient rewriting of history.” Sani further claimed that Otedola “enjoyed enormous privileges” during the Jonathan era. This contradicted Otedola’s own allegation that “over N2trillion was siphoned” in questionable subsidy claims.

Otedola’s Defence: “I Blew the Whistle”

In a statement issued late on Sunday night, Otedola dismissed Sani’s counter-claims as “malicious lies.” Moreover, he detailed his role in exposing the scandal.

Otedola alerted former President Goodluck Jonathan and then Senate President Bukola Saraki of the fraud at the time. Therefore, he found it absurd that someone accused him of benefiting from the same scam he exposed.

The billionaire effectively dismissed Sani’s attempts to link him to the scandal. Crucially, he declared that his company, Zenon Petroleum, never traded in petrol. Consequently, Zenon could not access the subsidy funds at the heart of the fraud.

The N1 Billion Deterrent

The billionaire insisted on suing the former presidential aide over the alleged defamatory remarks. Clearly, he emphasized that he would not allow anyone to toy with his hard-earned reputation.

“Because of these deliberate lies and unfounded allegations, I have instructed my lawyers to file a N1 billion libel suit against Umar Sani,” Otedola confirmed.

Otedola views the lawsuit as a necessary deterrent. Furthermore, he added: “People must learn that reputations are not to be toyed with for cheap propaganda and to serve as a deterrent for other mischief makers in the future. I will go to every extent to achieve this.”

Otedola concluded with a sharp message: “Those who benefitted from fuel subsidy fraud know themselves. Ultimately, I will not sit back and allow falsehood to be written into history.”