Oil Tycoon Otedola Owes NNPC $16 Million, Refuses to Pay

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FEMI-OTEDOLA
PIC.19. CHAIRMAN OF AFRICAN PETROLEUM, MR FEMI OTEDOLA DURING HIS APPEARANCE BEFORE THE HOUSE COMMITTEE ON ETHICS AND PRIVILEGES IN ABUJA ON TUESDAY (3/7/12).

Mgbo? Uncle Femi Otedola? Common $16 million? Why are you doing like this na?

Femi-Otedola-Bella-Naija
©Bella Naija

Reports have surfaced that one of Nigeria’s richest men, billionaire Femi Otedola, owes Nigerian National Petroleum Corporation (NNPC) $16 million as payment for some products he lifted between the period of 2004 to 2008.

The owner of Zenon and Forte Oil amongst other businesses has ignored repeated pleas to pay back this money as he hob-nobbed with the previous President Goodluck Jonathan on some Invincibility Theory tinz.

In fact, so invincible was he, that Otedola received a nomination from the erstwhile president to be a member of the National Economic Council. Economic Council. While having debts a decade old.

He has since risen steadily in wealth; in 2014 he was listed by Forbes magazine as Africa’s 29th richest person, with a net worth of $900 million.

But we dey shout change.

Mr Buhari, someone is asking for you here o!

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