scopusng: Zenon Oil Boss, Femi Otedola, to sue the House of Reps for N1trn over the defamation of his character during its plenary session on Friday.

Following the decision of the House of Reps to refer his oil company, Zenon Oil to anti-graft agencies for fraud investigation, Mr Femi Otedola has described the plenary session of the House as a celebration of corruption.

A statement issued by him in reaction to the House resolution reads: “I have stated the facts in my interview with Thisday newspaper and nothing but the facts. That Farouk Lawan demanded $3 million from me and because I refused to oblige him he included the name of Zenon amongst those who bought forex without importing petroleum products. He did this without even asking Zenon to produce a single document of the forex transaction. He clearly wanted to extort money for an offence I did not commit. That is why I went to report to the security agencies. If I had anything to hide I wouldn’t have gone to the agencies. There is an old adage that says “people who live in glass houses should not throw stones”.

“Moreover it is not possible to purchase $232, 975,385.13 million from CBN without importing the product. The total figure is not even $232, 975,385.13 million as alleged but $372, 207, 990 million. They should go and amend the report to read $372, 207, 990 million which is the correct figure. It is not possible to purchase this volume of forex from the CBN with first class banks such as Access bank, FCMB, GTB, UBA and an international bank BNP Paribas which is one of the biggest and most respected banks in the world.

“If people at my level who have worked hard to build their businesses can be blackmailed this way all in a bid to extort money from them, I pity people that are just starting out in business in this country. In all my business dealings I have always been above board and the records are there to prove. As far as I know Lawan could not have been working alone in this extortionist plot. A tree does not make a forest. Let me also state for the records that we are not in any way affiliated to the other company Synopsis enterprises Ltd also included in the report. Actions of today by the house is laughable, a mere celebration of corruption and a further indictment on their honorable member. “

http://ediong..pt/2012/06/femi-otedola-describes-house-of-reps.html

reindeer: Ans so marks the end of the subsidy probe thing.
There'll be so many distractions and counter disctractions that at the end of the day, the probe is dead.
One thing is clear though, the government is aware that without these people stealing all these vast amounts of money, there would have been no need to remove the subsidy yet instead of tackling the bad guys, the masses are forced to bear the brunt.
Moreso the president's friends have their fingers deep in these crises so he has no choice but to protect his friends by hook or by crook.
This is the most corrupt president the country has ever had, makes Abacha look like a saint.
God help Nigeria