The Nigerian Police Force today invaded the offices of Proshare in Omole office with members of the Force CID from Abuja under CP Ahmadu Ali who ordered the move based on a ‘petition’ received from Femi Otedola over the publication of a court ordered document on a suit he instituted against five banks – Access Bank, FCMB, GT Bank, UBA and Zenith Bank.

The team led by Superintendent Marcus issued no invitation letter or warrant of arrest but proceeded to hold all the staff members of the firm hostage until the CEO, Mr. Olufemi Awoyemi was produced.

The MD/CEO was fortunately on assignment at the stock exchange and was planned to travel to Abuja over the weekend for an outstanding assignment; hence he was not in the force.

The MD/CEO got in touch with the team who insisted on having him for interrogations over a matter he knew nothing about.

Background

Mr. Femi Otedola had boasted before today that he would use his close association with the Executive President, His Excellency Goodluck Jonathan, to deal with the papers and other media houses who comment on his state of indebtedness to the Nigerian banks.

In this case, it did not matter to him that the information reported, in Proshare’s best tradition of deploying only facts, was based on a court document arising from a suit instituted by Femi Otedola himself.

To underscore the significance of this use of force, the officers of the Nigeria Police Force went back to the Proshare offices and started carting away, computers, files and staff members as ‘hostages’ until the MD/CEO shows up.

Intimidation of Staff

The staff members were marshaled into a room and told to stop work while their computers were searched as well as personal belongings and official files. After going to Femi Falana’s chambers to arrest Olufemi Awoyemi, FCA; the returned back to the office seizing mobile phones, files, computers and workers on site working on the renovation of the offices.

It was pure bedlam and one conducted without a court ordered warrant. A clear case of the abuse of process and rule of law is on display here. It should be a surprise but it is not given that it was ordered by and based on the extent of the cover enjoyed by Mr. Femi Otedola’s closeness with the President of Nigeria, GEJ – the police did not give a hoot about due process or respect for the rule of law. This after all was not a police matter under any guise but an abuse of privilege and power.

When the members of staff pleaded to know why they were being hounded like common felons in the practice of a public interest matter, and why this show of force: they said they were working on presidential orders.

This is a new low and an indication for the type of democracy Nigeria is operating under or will be operating under.

All efforts to reach senior officers including the Inspector General of Police proved to be futile. They all turned off or responded that this is the way it is.

Attempts to explain our stand and professional communication of developments based on a public document were side stepped. When they were informed that Messrs. Femi Falana & Co were handling the matter based on a text message received at 8.43am on April 22, 2011 )with no name indicated – they insisted that they have a mandate to protect the presidents friend.

This is unbelievable and as the pictures taken show (taken at great risk), we have no say in the matter and are fearful for the lives of the personnel at this stage.


Femi Otedola’s Hold on the Power Grip in Nigeria and the case of his debts

The Chief Executive officer of Proshare, a market analyst and information portal for the Nigerian Financial Market, Mr. Olufemi Awoyemi, and consultant to a number of quoted companies on investor related issues and communications strategy was sought out by Femi Otedola in his bid to put a lid on the disclosures surrounding his debt situation which has seen him running from meeting his obligations and using his position within the presidency to intimidate, harass and harm people who dare to demand for a restitution.

This formed the background to his petition to the Inspector General of Police, to use the apparatus of the state to force Proshare into a submission after many overtures on his part to get the said MD/CEO to work in his favour.

This latest attempt confirms fears over the life of the MD/CEO of Proshare based on Mr. Femi Otedola’s determination to use all within his powers to silence the platform.

This development is happening on the heels of the publication on the site of an informed commentary by Daily Independent newspapers on Wednesday, April 20, 2011 on how Femi Otedola’s suit against five banks poses increased risk to future debtors.

http://www.proshareng.com/news/13712

I hope GEJ has nothing to do with this mess

brokeass thug

apprently Access bank has seized all his personal assets

this after zenith bank seized business assets

oyb:

brokeass thug

apprently Access bank has seized all his personal assets

this after zenith bank seized business assets

have they seized his asset or they are trying to seize it.

oyb:

brokeass thug

apprently Access bank has seized all his personal assets

this after zenith bank seized business assets

you are insulting your landlord??

owing 165 billion naira?
that is some dough there.

Hmmm. Maybe this Otedola dude isn't as minted as he was made to appear.