₦airaland Forum

Iolo: The committee itself acknowledged that figures were not independently verified against those submitted by the govt agencies. You can't indict someone without verified numbers. That's d FGs point.

Otedola sues Tambuwal, Lawan for N250 billion damages
Published On: Thu, Nov 8th, 2012

The chairman, Zenon Petroleum and Gas Limited, Mr Femi Otedola has filed a N250 billion suit against the Speaker of the House of Representatives, Aminu Waziri Tambuwal, and former chairman of the House ad hoc committee on fuel subsidy probe, Honorable Farouk Lawan.

The oil mogul dragged the two legislators before an Abuja High Court, where he is claiming the sum of N250 billion as compensation for business losses he suffered by the action of the two defendants.

The suit filed by Babajide Koku (SAN), is seeking N100 billion as general damages on behalf of Mr Otedola, for acts of intimidation, loss of good-will and patronages occasioned by the acts of the Speaker and Farouk.

Joining in the suit, Zenon Petroleum and Gas Company, a company owned by Mr Otedola, sought another N150 billion against the defendants as exemplary damages for their alleged oppressive and arbitrary actions against him and his company.

Reps to deliberate on Farouk next week

The plaintiff is also challenging an alleged move by the legislators to re-list his company among the oil firms already indicted for allegedly defrauding the federal government with the fuel subsidy scandal.

The House of Representative is expected to deliberate on a report by a committee that was set up to investigate the bribery scandal.

In his 28-point statement of claim, Otedola averred that by resolution of January 8, this year, the lower arm of the legislature, set up an adhoc Committee to verify and determine the actual subsidy amount made to oil companies and to also monitor the implementation of the subsidy in the country.

He claimed that Honourable Farouk later allegedly contacted and informed that his company was going to be indicted for purchasing foreign exchange from Central Bank of Nigeria without importing fuel.

The business man explained that in spite of his explanations, Farouk allegedly demanded $3million bribe to enable Zenon Oil get a clean bill of health.

He contended that Farouk resorted to persistent phone calls threatening him that his company would be included in the list of indicted oil importers and that the image and reputations of Zenon Oil would be greatly affected unless he pays the $3million.

Faced with the unrelenting barrage of intimidating phone calls, the plaintiff claimed that he became distressed and reported the unlawful demands to the security agencies.

He claimed that he secured the advice of security agents to play along by giving marked money to Farouk with a view to gather evidence for the nefarious activities.

Otedola alleged that the situation got to the peak on April 18 when the fuel subsidy probe report was submitted indicting his company.

He further claimed that Farouk called had assured him that Zenon Oil can be delisted from the list of the indicted ones prompting him to give $620,000 marked money in two installments with $500,000 to Farouk and another $120,000 to one Boniface Emenalo on the instruction of Farouk.

With the bribe paid, the plaintiff stated that Farouk on April 24, moved a motion in the House of Representatives to delist the name of Zenon Oil from the indicted company but was still persistent in demanding for balance of $2,380,000 prompting him to report the incident to Police.

The plaintiff asserted that in spite of the on-going police investigation, the Speaker and Honourable Farouk have allegedly conspired to re-list his company among the indicted companies to embarrass him and his business corporate image.

He claimed that the purpose of re-listing Zenon Oil was to force and intimidate him to drop his complaints against Farouk.

Otedola therefore asked the court to award him N250 billion for the grave injuries done to his reputation and business image resulting in the substantial loss of goodwill and patronage of the business built over the years.

However, the Speaker and Farouk have filed an objection to hearing of the suit by an Abuja High Court claiming that it is only the Federal High Court that can adjudicate over such a matter.

Justice Peter Kekemeke of the Abuja high Court has however adjourned the case till November 23 for a substantive hearing.

Gboliwe: Always speaking on facebook and twitter. Is he so broke he cant invite journalists/reporters anymore?

deletrue: Some of you only exists to cause confusion in the minds of reasonable individuals. Why must any normal persons whose up bringing is upright ever think of supporting Dono? First, has he defended the actress accusation? Or are you saying that issues at stake is not weighty enough for his (dono) person to feel uncomfortable? Besides, your comment admits that almost every nigerians are going against Dono whenever his name is mentioned. Is that not indication that he is an irresponsible and is not suitable individual to fight curruption? Maybe, you think NL is as worthless as punch news paper where worthless issues are published in order to show nigerians unreasonable comments from people like you? pls try to defend correct people and not societal defiant like Dono.

thelastPope: I was almost going to ignore your post. but i feel i have a responsibility to educate you. Your ignorance is so worrisome.

There are various seaports in Nigeria. Warri, Oneh, Koko, Calabar, Sapele and the new Akwa Ibom port. Lagos has Tincan and Warf ports. Because of the capital status of Lagos and the consequent growth in population, priority status was given to Lagos ports. That means, shipments are directed first to Lagos ports before any other ports. This is the reason there has been an agitation for the Onitsha river niger port. Someone in Enugu or Makurdi has to import his goods through the Lagos port. That means, he has to now convey his goods by road all the way from Lagos to his factory. That means more cost and all the dangers involved. Now if Lagos didnt have the capital status and consequently a population explosion, they would not have been given the priority status in both airports and seaports. If for some reason lagos was to have a mass exodus of people, it means some new state will grow in population and both individual and business activities will grow there. Consequently, the demand for airport and seaport activities would shift and the government will have to respond to that demand by giving priority status to those new states. The result of that will be simple. Lagos ports will loose business. Taxes will drop drastically. Both the federal and state revenue will drop drastically and Lagos would have a big challenge because they have no real natural resource. Sapele port is the best in Nigeria because it is a fresh water port but it is completely unutilised. 80% of all seaport activities are channeled to Lagos. That will change if Lagos was 3million. First the demand for goods in Lagos will drop drastically and that demand will move elsewhere. This is just a little education for you.

You should educate yourself before posting in a public forum

bakila: you never marry.

eureka: When I left unisome years back, a lot of my cousins travelled to Europe and the americas. They were the toast of the family. I went for my masters while teaching pry school and doing pp. it has been 16 years. I did any job I was paid to do teaching, cleaning becos if I tried to ask for help I was asked for sex. Success is a choice. U can move with the crowd or remain focused and u will surely arrive at your dest. A lot of my relations can't come home. Crises in Europe and global crises in the America's has balanced the naira with other world currencies. Africa and Asia are the new brides of investment and prosperity. A word is enough for the wise.

tpia1: its common knowledge there are many phds who drive cabs abroad.

not typical in nigeria, but cant say the same for overseas.

and why getting so bothered over this fact?

while the numbers are debatable, its nothing new.

ROSSIKE: Underemployment is a sign of as ''failed sate'', correct? Dunce!!! The color of your shi.t (pink) is the sign of your failed oesophagus. Olodo.



See Einstein wannabe high school dropout talking garbage. So without full employment you're a failed state? That means 99.9% of nations on earth are ''failed''. Ignoramus!!



The Nigerian economy is the 4th or 5th fastest growing in the world. Current GDP stands at $300 billion per year, projected to rise to $4.5 TRILLION per year by 2050 at current GDP growth rates.

If the PHds and Masters holders can develop their entrepreneurial skills, what stops THEM from partaking of this growth? Do you know how many non-degree holders make over $100,000 per year in Nigeria? What stops a PHd holder from pooling resources with his peers to set up a small institute somewhere and impart their knowledge? As a Phd holder you OUGHT to be able to create a living from your intellectual resources, ESPECIALLY in a place like Nigeria where demand is at an all-time high for all sorts of services.

ROSSIKE: You don't know what you're talking about. New York City alone must have at least 2000 cab drivers with Phds. I've met many of them myself!

ROSSIKE: You're a failed, brain-dead GOAT.

Do you know how many hundreds (or thousands) of Phds who drive taxis in America?

Do you know how many graduates and masters degree holders who work as waiters, chefs, and security guards in Europe?

Loud-mouthed Dummy!!!!!

dmcdad: Ha ha ha ha ha... Newsflash! I am SINGLE AND PROUD... The fact that I can't take unfaithfulness thats why I had to remain single but hey! It doesnt change a thing. I will remain the faithful guy for life. Besides, them dey pay person say him don sleep with 100 gurls? At the end of everything, if you are to be sincere with yourself, you will realize that there ain't any gain whatsoever in being unfaithful. Tell yourself the truth brah.. I am not in a relationship, but even if I were to be in one, I would still remain faithful. Its my logo...

phineboy1pimple: I am a "fidelity" man...



I am a "fidelity" man...

dmcdad: Bruv... Faithfulness ain't dead neither is truth dead. The fact that majority of men out there are unfaithful and stuff doesn't mean we all are guilty of this menace called UNFAITHFULNESS.