Nigerian entrepreneur, Femi Otedola, has initiated legal proceedings against Umar Sani, a former aide to Vice President Namadi Sambo.
Otedola has lodged a ₦1 billion libel claim against Sani due to his recent remarks linking Otedola to the fuel subsidy fraud that occurred during the Goodluck Jonathan administration.
Sani has accused that over ₦2 trillion was misappropriated through dubious subsidy claims in that administration.
He asserted that “Otedola himself benefited greatly during that period.”
In a statement issued late Sunday night, Otedola referred to Sani’s accusations as “malicious falsehoods.”
Reflecting on his role in unveiling the subsidy fraud, Otedola pointed out that he was the first to notify former President Goodluck Jonathan and then Senate President Bukola Saraki about the scam, questioning how he could be implicated in profiting from a fraud he exposed.
Rejecting Sani’s attempts to associate him with the subsidy controversy, Otedola affirmed that his company, Zenon Petroleum, never engaged in petrol trading and thus could not have tapped into the subsidy funds.
He announced his intention to sue the former presidential aide for the alleged defamatory statements, maintaining thathe would not permit anyone to jeopardize his hard-earned reputation.
He stated,
“Due to these deliberate falsehoods and baseless claims, I have instructed my attorneys to initiate a ₦1 billion libel suit against Umar Sani . It is crucial for people to understand that reputations are too valuable to be manipulated for cheap propaganda and to deter future mischief- makers , I will pursue this to the fullest extent.
Furthermore, the businessman urged President Bola Tinubu to disclose the complete report of the Aigboje Aig-Imoukhuede panel established during the Jonathan administration to investigate the significant petrol subsidy fraud.
According to him, Nigerians have a right to be informed about the individuals who siphoned funds through the fraud committed under the Petroleum Subsidy Fund scheme.
“I urge President Bola Ahmed Tinubu to release the entire Aigboje Aig-Imoukhuede report on subsidy fraud, as it is vital for Nigerians to uncover the reality. It is documented that the Presidency at the time requested the late Economic and Financial crimes Commission (EFCC) Chairman, Ibrahim Lamorde, to cease the investigation. The report should be made public to reveal the true perpetrators of the subsidy theft,” Otedola stated.
Otedola concluded, “My attention has been drawn to a deceitful and malicious article penned by one Umar Sani, a former Special Adviser (Media) to former Vice President Namadi Sambo, attempting to distort facts and tarnish my name withaccusations of involvement in the subsidy fraud.
“His insinuations are untrue, unfounded, and a disgraceful effort to cater to lies and revise history. Let me clarify the truth for the benefit of the discerning public.
“Zenon Petroleum and Gas Limited was exclusively an importer and dealer of diesel, holding a market share exceeding 90 percent, and never engaged in the trading of PMS therefore, it could not have claimed subsidies under the Petroleum Subsidy Fund scheme. Diesel had been deregulated long before the introduction of the PSF and was not included among the petroleum products eligible for claims under the PSF regime.”