Otedola Slams Ex-VP Aide Over Subsidy Allegations, Files N1bn Libel Suit

Otedola Slams Ex-VP Aide Over Subsidy Allegations, Files N1bn Libel Suit

Nigerian billionaire businessman, Femi Otedola, has dismissed allegations linking him to the fuel subsidy scam as “malicious lies,” announcing that he has instructed his lawyers to file a ₦1 billion libel suit against Umar Sani, a former aide to ex-Vice President Namadi Sambo.

In a statement, Otedola said it was laughable to accuse him of benefiting from a subsidy scheme he actually helped expose. He stressed that his company, Zenon Petroleum, only traded in diesel, which was never part of the subsidised Petroleum Support Fund scheme.

“Because of these deliberate lies and unfounded allegations, I have instructed my lawyers to file a ₦1bn libel suit against Umar Sani. Reputations are not to be toyed with for cheap propaganda,” Otedola declared.

The businessman also urged President Bola Tinubu to release the full report of the Aigboje Aig-Imoukhuede panel on subsidy fraud under the Goodluck Jonathan administration, saying Nigerians deserved to know the truth about those who looted public funds.

He reminded Nigerians that he was the whistleblower who first alerted President Jonathan and Senator Bukola Saraki to the monumental fraud in the subsidy scheme, adding: “If I was complicit, would I blow the whistle on myself?”

Otedola recalled how he later worked with the Department of State Services (DSS) in a sting operation that led to the conviction of former House of Reps member, Farouk Lawan, for bribery during the subsidy probe.

On AMCON-related matters, Otedola explained that he had long settled his debts through a court-ordered process, giving up assets worth hundreds of billions of naira. He said AMCON itself publicly praised him at the time for setting a positive example.

He accused Sani of “ignorance and mischief” while insisting that his reputation would not be tainted by falsehood.