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Monday, December 11, 2023

“We Will Get That Rogue, Femi Otedola” – House of Rep



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Femi Otedola

The likes of Femi Otedola have looted this country for years with careless abandonment. Come October 9, 2012 when we resume seating, you will see what motions we will table on that day. We will deal with him and we are serious. We are more serious than death. You can take it to the bank. We will probe that rogue. We know his tricks already.” stated a principal officer of the House of Representative over the telephone to 247ureports.com concerning the recent debt settlement deal reached between Femi Otedola and the Asset Management Company of Nigeria, AMCON over an outstanding N141billion debt.

[Femi Otedola had reached an agreement with AMCON to turn over some of his properties along with some money to the AMCON.]

Last week, the actions of the Central Bank of Nigeria [CBN] in barring Nigerian banks from granting loans/credit facilities to one hundred and thirty three [133] companies and four hundred and nineteen [419] company directors who owed banks amounts in excess of N5billion – of which directly affected the oil mogul’s ability to access additional credit facilities – triggered and/or propelled the oil mogul into reaching a deal with AMCON.

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Interestingly, the members of the House of Representatives have cried foul over the manner the deal was reached without the knowledge of the National Assembly – citing that the AMCON is a government establishment under the purview of the National Assembly. The legislators suspect the oil mogul may have engaged in sharp practice over the AMCON deal owing to the secrecy around the deal.

The House of Representatives Spokesman, Hon. Zakari Mohammed, in his talk with 247ureports.com confirmed that the House of Representative will initiate a probe on the oil mogul’s activity with AMCON. The honorable spokesman hinted that the legislators were already in possession of evidence indicating that the oil mogul “did not pay one kobo” in the deal.

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But the entirety of the House of Representatives appears to not be on the same page with the Spokesman. Information available to our correspondent obtained through a source within the lower chambers of the National Assembly reveals that the South East and South South legislators consider the Spokesman’s public comments on Otedola as “his personal opinion” and not that of the House.

The Spokesman had publicly commented that the legislators would constitute a committee to investigate the amount and the assets transferred to AMCON.

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