Billionaire, Femi Otedola shares rare photos of DJ Cuppy, Temi and Christy Otedola

Billionaire Oil magnate, Femi Otedola yesterday shared a rare family photos to celebrate International Women’s Day.

The father-of-four posted photos of his daughters DJ Cuppy, Temi and Christy Otedola on Instagram on Friday, along with the caption:

"Happy International Women’s Day to my three Angels …”.

The throwback picture showed him carrying his darling daughters on his laps. Femi Otedola is clearly a huge family man.

Recall, Last month, Femi Otedola shared photos of his visit to his mother where he admitted to still being a mummy’s boy -despite all the wealth-.

In 2016, Femi was reported to have a networth of about US$550 million

Femi Otedola - DSS Gave Me The $500,000 Lawan Collected As Bribe

Femi Otedola , a billionaire businessman, has alleged that the Department of State Services (DSS) gave him the $500,000 he offered to Farouk Lawan, a former lawmaker.
This he disclosed today in front of a judge of the federal capital territory high Court, Apo, Angela Otaluka.

Lawan, who was chairman, the house of representatives committee probing the multi-billion naira fuel subsidy fraud, was accused of collecting money from Otedola, after he promised to remove Zenon Petroleum and Gas limited, his company, from the list of oil companies allegedly involved in the fuel subsidy fraud in 2012.

The attorney-general of the Federation (AGF) however charged him to court for allegedly receiving a bribe
Otedola said the money was given to him by the DSS to set a trap for Lawan after he wrote a petition against him.
He said the $500,000 was a part payment of the $3 million demanded by Lawan, which was eventually given to him under the supervision of the DSS.

Otedola said he petitioned the DSS immediately Lawan demanded the bribe.
“ Lawan said he was going to exonerate my company after giving him the money, security cameras were mounted in my living room to capture the exchange of money between me and the defendant,” Otedola said.

“ The video is with the DSS, the money was given to him in two tranches $250,000 each.”
The judge, however, adjourned the matter till March 8 for the continuation of cross-examination of the prosecution witness.


Via Naijanews

Femi Otedola to acquire the upstream of Forte Oil

Femi Otedolais set to acquire the upstream business of Forte Oil Plc.and its power generating business Amperion Power Distribution Company Limited.The company made this known in anotice to shareholders published by the Nigerian Stock Exchange (NSE).

According to the company, shareholders had last year authorised a restructuring that will see Forte Oil sell its upstream andpower businesses, as well as its downstream business in Ghana AP Oil&Gas Ghana Limited.

“A public tender sale process was commenced to attract interested potential investors to participate in the divestment opportunity,” the notice reads,Adding, however, that a review of the process showed low interestfrom investors, especially for Amperion Power which was priced lower than the company expected.Otedola, who is also the company’s chairman has thereforeindicated interest in the divestment opportunity through a designated vehicle.

Shareholders will at an Extraordinary General Meeting (EGM) on February 7 vote on whether to allow the chairman participate in the divestment opportunity.Otedola had last year sold his 75 percent stake in Forte Oil’s downstream business. When the company announced the sale, ForteOil explained the chairman’s decision was to enable him pursue business opportunities in refining andpetrochemicals.

Businessman, Femi Otedola To Sell Off HIS Shares At Forte Oil

Nigerian businessman, Femi Otedola, has agreed to sell the entirety of his 75 per cent direct and indirect shareholdings in Forte Oil.

In a letter sent to the Nigerian Stock Exchange and signed by Akinleye Olagbende, the general counsel of Forte Oil, Otedola said he was divesting from the company in order to “explore and maximise business opportunities in refining and petrochemicals”.

“Forte Oil Plc hereby notifies the Nigerian Stock Exchange, Securities and Exchange Commission, Shareholders and the investing community that its Majority Shareholder, Mr. Femi Otedola, CON has reached an agreement with the Prudent Energy team, investing through Ignite Investments and Commodities Limited, to divest of his full 75% direct and indirect shareholding in the Company’s downstream business,” the statement said.

The billionaire has been the majority shareholder in the company since 2007,  when he the Incorporated Trustees of NNPC’s Pension Fund divested its stake to the Otedola-owned Zenon Petroleum & Gas Limited.

The sale of his shareholdings is expected to be completed in the first quarter of 2019 “subject to the satisfaction of various conditions and receipt of applicable regulatory approvals”.

Exclusive - Billionaire, Femi Otedola Ready To Pay All Victor Olaotan's Hospital Bills

Billionaire Femi Otedola has made it easy for Victor Olaotan and his family two years after the actor got involved in  a car accident and has been unable to fly out of the country for proper treatment due to cash. Fellow actor, RMD reached out to the billionaire, and this morning RMD got  a call from him that he was ready to settle all his bills.

"So, a few days ago, I reached out to @femiotedola asking for help for my friend and brother, Victor and just this morning Femi calls to tell me that he would take care of ALL of Victor's bills. He told me that he is already on it and that his people are talking to Victor's wife.

Is God not awesome????? I can't even contain my joy and gratitude. Thank you Femi @femiotedola you are a man and half and thank you to my young friend @gbenroajibade for championing this cause, they don't make them like you anymore," the actor wrote on IG.

Billionaire Businessman, Femi Otedola donates N2bn faculty to Augustine University

Femi Otedola, billionaire businessman, has donated the faculty of engineering to Augustine University (AUI) Epe, Lagos.

The structure is said to be worth N2 billion. On Tuesday, Otedola attended the foundation laying ceremony of the faculty.
Present at the ceremony was Alfred Martins, the proprietor of the institution and Catholic archbishop of Lagos.

Augustine University is a private Catholic-owned tertiary institution located in Ilara, a town in Epe. It was approved on February 25, 2015. AUI offers courses at undergraduate and post graduate levels. Otedola is an indigene of Epe.

UPDATE: Billionaire, Femi Otedola accepts PDP Lagos governorship ticket

Nigerian billionaire FemiOtedola, Chairman/CEO of Forte Oil, has accepted to run for the governorship seat of the Lagos State under the platform of the Peoples Democratic Party (PDP).  The report was posted on Twitter by Dele Momodu who wrote; Breaking News: Lagos 2019 promises to be interesting. PDP offers Femi Otedola governorship ticket. He’s accepted and personally confirmed to The Boss newspaper..Breaking news: Lagos 2019 promises to be interesting.

PDP offers Femi Otedola governorship ticket. He's accepted and personally confirmed to The Boss newspaper… — Dele Momodu Ovation (@DeleMomodu) September 11, 2018

According to the report, the opposition party offered the billionaire oilmagnate the ticket of the party, and he wholeheartedly accepted.

Otedola will therefore, inthe long run square up against whoever the All Progressives Congress (APC) throws up as its party candidate as it is still embroiled in battle of supremacy between the loyalists of Asiwaju Bola Tinubu and the incumbent governor, Akinwunmi Ambode.

Over 50 council chairmen loyal to Bola Tinubu, his estranged godfather, have met and pledged their support for Jide Sanwonolu, who is believed to be Tinubu’s preferred choice, according to APC insiders. The council chairmen are the most influential grassroots mobilisers under the direct primary system adopted by APC to pick governorship candidates. Most members of the Lagos house of assembly are also loyal to Tinubu.

On Monday, the governor, alongside some members of his cabinet, stormed the headquarters of the APCin Abuja to get expression of interest and nomination forms for his 2019 bid.

Billionaire Businessman, Femi Otedola Takes A Rides On Commercial Bus To Agege

One of the richest Nigerian man Femi Otedola who is an oil mogul share a video on his Instagram handle where he rides on the popular commercial bus Molue from Snago to Agege and surprisingly other passengers doesn’t recognize him.

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