EmeeNaka:
It's business

Nope.. that's double crossing and back stabbing...

bizhop01:
Otedola never tell us what he did to others

U don’t understand business, u can do anything to anybody in business as long as the person is not your friend or what you wanted to do is because of the information u got from them, but once u start doing this thing from information u got from them to affect them then u don dey dig ur own grave cause dey will now start treat u as an enemy

Funny enough na otedola tony dey follow

chisomkachy:


https://www.premiumtimesng.com/business/597584-exclusive-otedola-speaks-on-bankruptcy-accuses-elumelu-of-backstabbing-him.html

Big men matter no concern me. Na my daily bread I de fine

Iamicekid:


He had to put it out there cause his recent move of acquiring Transcorp shares and selling it weeks later for higher price which make Transcorp market to crash a little, people started talking bad about him wanting to spoil a fellow Nigerians business, so it to let us know why he did that, it actually payback and I guess more payback is still coming

Interesting

MEN since 1900

chisomkachy:


https://www.premiumtimesng.com/business/597584-exclusive-otedola-speaks-on-bankruptcy-accuses-elumelu-of-backstabbing-him.html

As i was reading this, i was quick to remember one of Chimamanda's presention titled "the danger of a single story".

In it she wrote "The single story creates stereotypes, and the problem with stereotypes is not that they are untrue; but that they are incomplete and they make one story become the only story".
So i await Mr Tony Elumelu part of the story.

CSTRR:

Tomu elumelu is actually the most likeable of the billionaires.

Gives out $5000 to 1000 people every year through his entrepreneurship foundation.

Massive employer of labour through his many businesses especially for women in Nigeria.

He is a shark, but he is the best shark in Nigeria.

Thats a facade.

Never4getU:
Betrayal everywhere

It's called business, and both of them are still good friends regardless. But you see those wretched online miscreants, they are the problem. They create problems were none. They might even turn it to tribal war here. Political miscreants ..lol

brain54:

Seems like he still hasn’t learnt his lessons…


Still talking upandan like a sisi.

He should play his card close to his chest. Even if he wants to teach any one a lesson.

When will he learn?

No wonder he is filling bankruptcy!

He only said it cause people started blaming him and calling him names that he wants to kick a fellow Nigerian out of business and all sort, so he is letting us know the cause of this recent move he made.... when tony was making his own move, ote didn’t make it public but ote made his own move and tony or his company made it public making people to judge ote badly so he had to correct the narrative

Never4getU:


It's not it is called backstabbing

This is one is still a novice to how the corporate world operates. In a capitalist economy, there is no room for petty sentiments or emotions.

Go and ask the former owner of Twitter what he saw in the hands of Elon Must who bought over his start up. Even Dangote and BUA have had their fair share of corporate shenanigans but you won't see any of them come out openly to cry blood in such manner Otedola did.

If Elumelu did anything contrary to the law, then let Otedola sue him. I'm really disappointed in him, how could a so-called billionaire come out openly with such sob story? It's really embarrassing for Otedola to be crying like a sissy over a business deal.

Some bigots who are blinded by ethnocentrism are already insulting Elumelu instead of blaming Otedola for his poor business acumen.

We all know how backstabbed and betrayers end.

Put, I will not put mouth into big man fight

Iamicekid:


He only said it cause people started blaming him and calling him names that he wants to kick a fellow Nigerian out of business and all sort, so he is letting us know the cause of this recent move he made.... when tony was making his own move, ote didn’t make it public but ote made his own move and tony or his company made it public making people to judge ote badly so he had to correct the narrative

Exactly…

He owes no one any apology for his actions or business moves he makes.

He is a private business man for heaven’s sake.

This is what happens when you do business with emotions!

If this story had been the other way round, this thread would have been littered with such nonsense like Yoruba are betrayers bla bla but you see same people on this thread praising Elumelu for being smarter businessman and all that.

koning:
Otedola simply fell mugu to a smart Igbo man. Call it Igbo sense if you like.

However, both of them were funded by corrupt politicians. It was all top notch MONEY LAUNDERING. Includes Adenuga.

The only good thing about it is that they kept most of the looted fund in Nigeria.

Otedola's father was once governor of Lagos state. Go figure.

Na GAME

Omihanifa:
Same Tony elumelu Don dey romance BAT

BAT should better no discuss his drug case and election case with Tony before Tony will go and feed the oppositions the info

Bro, the first person whom BAT visited upon winning the Presidential election was Tony Elumelu.

BOLA AHMED TINUBU, NIGERIA'S PRESIDENT-ELECT,PERSONALLY WENT TO TONY ELUMELU'S HOME ON HIS FIRST THANK-YOU VISIT. Let that sink in.

Consequent upon the above, I think we can all agree that Elumelu was obviously one of main backers of Tinubu's victory. Think about how much physical cash he would've used his position, at UBA, to make available to BAT, in the middle of the debilitating cashless policy and Naira redesign, during the election period.

Tony Elumelu backed the right horse and he will reap bountifully in the coming years, under a BAT presidency. He will influence government policy in his and his business' favour just as Dangote has done in the last several years.

Keep an eye on Tony Elumelu, the man will be Nigeria's most powerful businessman.

Typically Igbo always claiming sense in every business deal

SOSinNigeria:


This is one is still a novice to how the corporate world operates. In a capitalist economy, there is no room for petty sentiments or emotions.

Go and ask the former owner of Twitter what he saw in the hands of Elon Must who bought over his start up. Even Dangote and BUA have had their fair share of corporate shenanigans but you won't see any of them come out openly to cry blood in such manner Otedola did.

If Elumelu did anything contrary to the law, then let Otedola sue him. I'm really disappointed in him, how could a so-called billionaire come out openly with such sob story? It's really embarrassing for Otedola to be crying like a sissy over a business deal.

Some bigots who are blinded by ethnocentrism are already insulting Elumelu instead of blaming Otedola for his poor business acumen.

Exactly…

I could not have put it any better!

No wonder tinubu visited tony...the happening guy with enough cash. He was probably a major sponsor in tinubu's campaign

steeltrust:
I’ve read both story from both great men
Tony do his things on a long term while otedola is there just to gain

There’s nothing like backstabbing
It simple business strategy
Otedola was quick but tony was quicker

Do u go to school at all, the quick and quicker stuff is only applicable of you didn’t hear the idea from me and u just make ur own move separately but you moving moves based on the idea u hear from me repeatedly not once that’s fucking betrayal and u deserve whatever move I come with you next that’s why ote wanted to sink tony and he had no other moves to do than to beg ote friends to help him beg ote to free them shares

Ameoba300:
I'm not a tribalist. But there's a trait some Igbo people have that I always frown at! The trait of going behind your back to drive you from a place they came to meet you.

I love them but I hate that trait!

If you think I'm blabbing — share thesame business premises with a greedy ibo man, with time he will go see the landlord and buy you out!

Exactly they're very good at this ...Even lying about you just to get rid of you especially if they know it would benefit them ....I have experience this ...If you've not been involved in business or corporations or civil service with them you have not known most of them yet

Been smart is relative in business. Some are rich or richer through unscrupulous business strategies while some cannot do such yet they are equally rich...but could be richer if unscrupulous too.

uncleck:
It simply means that Tony is a smarter businessman than you

sonature1:


Common sense is far from many of you on this forum, including you.

Every government needs businesses to keep creating jobs and businesses need government to keep formulating business-friendly policies. It's a symbiotic relationship.

I don't know the kind of school you people attend nowadays. That's if you even attended one.

Just sharap! So Tony is the only one that can create businesses? you urgently need brain.

Lesson learnt.... Do not share your business plan with anyone. Keep your secret!

chisomkachy:


https://www.premiumtimesng.com/business/597584-exclusive-otedola-speaks-on-bankruptcy-accuses-elumelu-of-backstabbing-him.html

brain54:

Exactly…

He owes no one any apology for his actions or business moves he makes.

He is a private business man for heaven’s sake.

This is what happens when you do business with emotions!

He does in this aspect cause, the move he made put tony in a sinking spot for him to start calling ote friend to help him beg him to free those shares and even with that it still affect his pocket and even the trading market of his company haven’t recovered till now so guess thats why tony made the information public they started pushing the tribal bullshit when the story leak and saying ote wants to push an Igbo man out of business and they don’t want Igbo to succeed and all that, so he had to let us know that the move isn’t about tribe but trust that was betrayed

I am an admirer of Otedola. I respect the man. I don't know his history like that, but I know he is self made through luck and connections.

I respect all these other non political rich people like Dangote, Ibru, Tony, etc but I respect them non the less, but with asterisks due to some help from family to start. Nothing is wrong with family help, especially if you increase the wealth that you started with.


People like Saraki, fani kayode, etc also have rich family foundation, but they increased their wealth from their opportunity in national treasure and the opportunity that politics in Nigeria creates.


I think Oteda needs to expand on this, since he brought it up, especially the ughelli deal. If am to draw any conclusions from this limited info, I will say that at the time, Oteda didn't have the capital but was still trying to convince investors, so it was still an open deal. Do you know how many people without capital that have vision and ideas on various businesses. Was the deal open to all?, and then you told Tony, or did your investors see Tony and felt like he would take them closer to the deal quicker than you because he had more capital at the time.


I think this is a business teaching and learning moment for dreamers and up and coming .

PNomsule:
I may need clarity, how do you declare bankruptcy and still have shares in major companies running into billions of Naira?

Don't mind all these Executive Crooks. They have everything worked out. This same Otedola is owing AMCON ( Nigeria indirectly) of Billions. He has refused to pay and yet he is a Billionaire.

Like some one said earlier, this fight na Rich People fight, e no concern me.

Iamicekid:


He does in this aspect cause, the move he made put tony in a sinking spot for him to start calling ote friend to help him beg him to free those shares and even with that it still affect his pocket and even the trading market of his company haven’t recovered till now so guess thats why tony made the information public they started pushing the tribal bullshit when the story leak and saying ote wants to push an Igbo man out of business and they don’t want Igbo to succeed and all that, so he had to let us know that the move isn’t about tribe but trust that was betrayed

According to your narrative…

The move was meant to put Tony in a “sinking spot” initially. So why come out to explain yourself when you already actually achieved your aim?

Even when you did not need to explain your motive because you owe no one any explanation in the first place?

He is just being emotional and talkative.

Simple!

thesicilian:
Business is business. You were willing to sell your shares to an American firm but became angry because it's your fellow Nigerian that eventually bought it. Seems you have an issue with him personally.

You (femi) borrow me( tony) $20m to do business. You say make we sell am but I said we should wait that it still has more potential. You agreed. Unfortunately, na so your empire crumble oo. That is to say, you became bankrupt.

Now I offer to help me by servicing your loans using your shares in the place i invested the $20m. I still come collect some of your others shares oooo. You( femi) say okay, make man no return to trenches.

You still come see opportunity to komot all these mess wey you dey by buying a company. You tell me about it and instead of offering to partner with you. I buy the thing for your back. Would you still consider me as a good friend?

brain54:

According to your narrative…

The move was meant to put Tony in a “sinking spot” initially. So why come out to explain yourself when you already actually achieved your aim?

Even when you did not need to explain your motive because you owe no one any explanation in the first place?

He is just being emotional and talkative.

Simple!

Guy he needs to cause he thought tony will take it as a man as he also did when tony did his own to him but no Tony started playing the victim card by letting the public know and the public start to attack him of been a tribalistic and all sorts, named that he has built for years been dragged, they dragging his daughters and even his son cause tony was playing a victim card, whereas the person playing the victim card is the evil one all along

then otedola is not as smart.smart men are only outbidded once.