₦airaland Forum

Billionaire Businessman, Femi Otedola has accused Jim Ovia, Chairman of Zenith Bank Plc of fraudulently using an account belonging to his company, Seaforce Shipping Limited, to trade in 2011 without his knowledge or consent.

Otedola, who is said to be very miffed by the development, has already submitted his findings to the Force Criminal Investigation department(FCID) of the Nigerian Police and sources privy to the matter believe that the bank chairman may be invited for questioning.

BACKGROUND

Findings indicate that Seaforce’s account domiciled in Zenith Bank has not been operated since 2010 but strangely continued to be used for Trading.

According to the Petition to the Police, the company has never applied for any loan from Zenith bank but unauthorised trading was going on with account running to the tune of Billions of Naira.

Mr. Otedola was only able to discover the fraud recently after a whistleblower in the bank reached out to him. Transactions over N16 Billion have been recorded on Seaforce’s account since 2011 till date (13 years).

‘SHOCKING TRANSACTIONS’

According to Cable, a letter written on March 19th, 2018 by Zenith bank to Seaforce’s auditors, Shofolawe-Bakare & Co, shows that a debt of N2,278,420 on the account against a N5 billion recorded in the company’s bank statements.

Curiously, on the day the letter, signed by Taofik Bashir (internal audit control) and Edwin Kind Olie (group head, telecomm), was written, the bank statement showed a debt of N2.9 billion.

The company’s account statement shows credits of N77,169,375.00 on April 18, 2011, N119,822,762.50 on December 01, 2011, N316,537,329.30 on December 8, 2011, N266,361,181.73 on December 15, 2011 and N444,304,524.50 on December 12, 2011. Transactions Otedola was not aware of.

AFTERMATH

Currently, several options are being explored to resolve the matter as Zenon, Seaforce, Luzon Oil and Gas, Garment Care Limited, and Otedola himself have secured a federal high court injunction against Zenith Bank, Quantum Zenith Securities and Investment, Veritas Registrar, and Central Securities Clearing System, restraining them from trading with shares or paying dividends.

Currently, key official(s) of the bank have been interrogated by FCID operatives.

Source : https://politicsnigeria.com/breaking-femi-otedola-fires-jim-ovia-exposes-fraudulent-charges-in-zenith-account-pics/

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This one na billionaires fight he no concern poor men like us

Jim ovia and him cousin Emefiele sha..

Some Nigeria billionaires have cheated Otedola one way or the other while making their money. Otedola is very brilliant but too calm and very fortunate to have survived various plots

Fraudster?

Otedola don suffer ....e be like say e dey trust ppl too much na dangote be the next wey go waylay am

ERockson:
Almost all Nigeria billionaires have cheated Otedola one way and r the other

Almost all?

Only 2 have been known; this Jim ovia & Tony Elumelu.

Can you simply list the rest?

Billionaire Businessman, Femi Otedola has accused Jim Ovia, Chairman of Zenith Bank Plc of fraudulently using an account belonging to his company, Seaforce Shipping Limited, to trade in 2011 without his knowledge or consent.
Mehn..

E con still provide proof..

Banks are theifs

Bank staff and fràud na 5 and 6...one guy in my area was employed in a bank and within 1 year, the guy has bought Benz. Someone that was jobless for more than 2 years.

He was arrested few months ago and still in jail.

Many exceedingly rich bank MDs are candidates for prison.

Since the 1980s, bank executives have made their wealth from one fraud or the other.

You wan reap billionaire..thinking he no go know

Nawa o

How is this possible? I can see Meristem in one of the Narration. Is it possible for such reputable names to credit your account if you didn't deal with them?

Does it mean your own accounts are not being audited for over 10yrs, how.come no one noticed it internally not even through SMS or mail. This is deep

GeneralPula:
Billionaire Businessman, Femi Otedola has accused Jim Ovia, Chairman of Zenith Bank Plc of fraudulently using an account belonging to his company, Seaforce Shipping Limited, to trade in 2011 without his knowledge or consent.
Mehn..

E con still provide proof..

No be today Godwin Emefiele done dey into fraud.

This guy acts like a saint and accuses others but he's as deadly and brutal as his best friend Dangote.

Baby and smiley face cannot deceive anyone

He could have called the Chairman personally. If he doing it in good faith. That's okay

Nawaoh...it's seems this otedola is not diligent and is obvious his aides and business handlers might be ripping him off...the zenith chairman might have collaborated with insiders from his end

Rich man fight, nah so so Billion Billion

Fighting brotherhood

hj

Kingpele:
Nawaoh

Corruption everywhere

...I thought billionaires settle such issues via phone calls ...

Zenith has lost her glory. Rubbish bank

First bank vs Zenith Bank

If you know how some billionares make their money, you will run. Some are more like criminals while others are outright devilish.