Otedola goes on exile

August 20, 2010 10:52PM



The crisis rocking the oil marketing firm, Africa Petroleum (AP), has led to the self exile of its chairman, Femi Otedola, NEXT has learnt.

Mr. Otedola, whose company, Zenon Petroleum and Gas limited, is the major investor in AP, is currently in England to avoid another attempt on his life. This is according to a senior official of AP who spoke to NEXT on condition of anonymity.

The businessman, who was named by Forbes magazine as being among the world’s richest billionaires last year, first alleged threat to his life when an elevator in his company’s headquarters malfunctioned mid-way with him in it.

The management of AP reported the incident to the police alleging sabotage with fingers pointed towards another senior official of the company Clement Aviomoh, who is the executive director, finance and information technology.

Mr. Aviomoh, in a press statement, however denied any involvement in the incident explaining that the incident was caused by the actions of Mr. Otedola.

“On the 5th of July 2010, there was a scheduled board meeting of AP Plc; the chairman stormed the venue with 150 armed mobile police men. He entered the lift with too many security operatives thereby overloading the lift. Thereafter the lift got stuck and we got a report from CFAO and the maintenance engineer that clearly stated that there was no foul play,” Mr. Aviomoh stated.

Our source, however, said the police have concluded a forensic examination of the lift and it is clear that it was tampered with. According to the source the police will soon make public their findings and also effect the arrest of those implicated in the plot.

Conflicting police statements

NEXT could, however, not get an independent verification of the claim. In fact, the police yesterday gave conflicting reports on their investigation of the incident.

Emmanuel Ojukwu, the police public relations officer at the force headquarters in Abuja stated that though he was aware of the case, the matter was being investigated in Lagos and so was under the Lagos State Police command.

“It (the case) can be moved from Lagos to force headquarters, Abuja, but I am not sure it has been moved,” Mr. Ojukwu said.

The Lagos police spokesman, Frank Mba, however, claimed ignorance of any investigations saying, I don’t know anything about it; I don’t have any information about it.

NEXT learnt that Mr. Otedola had expressed his distrust of the Lagos State police command, which made the police transfer the investigation to the force headquarters in Abuja.


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While the police are being economical with the truth over their investigations, two members of the board of AP: Osa Osunde, the Vice Chairman; and Nebolisa Arah, a director; on Wednesday secured an injunction from the federal high court in Lagos restraining the Inspector General of police, the commissioner of police, Lagos State, and the Special Investigation Unit from “incessant invitation to the police station, threatening to arrest or further arresting, impeding the liberty , of the applicant pending the determination of the application.” The injunction was granted by O. Abang, the presiding judge.

The AP crisis was first brought to the fore in July last year when Access Bank, one of the company’s creditors asked a court to wind up AP following its inability to pay its debt.

“The company is insolvent and unable to pay its debts. In the circumstances, it is just and equitable that the company should be would up,” a statement by the bank said.
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