Tag: FEMI OTEDOLA

  • Why Otedola paid Christian Chukwu’s medical bills

    Why Otedola paid Christian Chukwu’s medical bills

    Billionaire oil and gas magnate, Femi Otedola has thrown light on why he stepped in to help former Captain and Coach of the Super Eagles Christian Chukwu get quality medical treatment abroad.
    Chukwu returned to the country this week after undergoing surgery and sundry treatments at the Wellington Hospital, Circus Road, St John’s Woods London.
    Speaking when the former Nigerian defender fondly called ‘Chairman’ paid him a ‘thank you visit’ yesterday in Lagos, Otedola said he was moved when he heard about Chukwu’s plight.
    “I was moved when I heard about Mr Chukwu’s situation because I remember that about 20 years ago, my father, the late Sir Michael Otedola also suffered a stroke from ingesting fake aspirin.
    “ This experience has over time, made me appreciate that good medical attention can give a good and prolonged life and that was what motivated me to rise up and assist Mr Christian Chukwu,” observed Otedola who was represented at the event by Ag. Chief Operating Officer of Zenon Petroleum and Gas Company Limited Mr Phillip Akinola.
    While admitting that the treatment expenses of Chukwu cost him N36.6million, Otedola revealed that he has derived joy in spending the money God blesses him with, to assist a fellow Nigerian who has done great things for the country.
    “In my circle of friends, many spend up to N50million to drink champagne and generally enjoy life, but at the end of it all what happens? It passes out of the body as waste. For me, therefore (and I also tell my friends) it is important to use such money to benefit others and put a smile on the faces of as many people as we can,” he reasoned.
    Otedola also hinted that this gesture was not a one-off thing. “People may not be aware but Mr Peter Fregene, another former Green Eagles’ goalkeeper is currently being assisted with his medical situation and we are confident that he will also come out of the hospital strong and healthy.”
    Interestingly, Otedola’s large heart is not limited to former sportsmen and women alone.
    He is currently also footing the hospital bills of a popular actor, Mr Victor Olaotan in a Turkish hospital. Olaotan was a lead character in the popular TV soap opera series, Tinsel.
    “For me, it is just my nature to give back to the society and these philanthropic gestures are just a tip of the iceberg. I am humbled by the gratitude being expressed by Mr Chukwu but I believe that all thanks belong to God and I thank God for putting me in a position to be able to be of assistance,” Otedola stated.
    In his response, Chukwu said only God can repay Otedola’s generosity towards him.

    The ceremony was witnessed by Chukwu’s wife, daughter and younger sister who accompanied him to London during his treatment there.

     

  • Otedola donates N18m for Chukwu’s medical treatment

    Otedola donates N18m for Chukwu’s medical treatment

    The Chief Executive Officer, Forte Oil Plc., Femi Otedola, has donated N18 million for the foreign medical trip of ailing former Super Eagles coach, Christian Chukwu.

    Otedola, who was represented by the Chairman of Otedola Foundation, Phillip Akinola, made the donation on Wednesday during a visit to the Enugu residence of Chukwu.

    He said that his foundation would do everything possible to ensure that the former skipper of the Super Eagles regained his health.

    He added that the medical trip of the former coach and current Technical Director of Renters International FC, would be under the supervision of the Nigeria Football Federation (NFF).

    Earlier, the NFF President, Amaju Pinnick, said that the organisation was appreciative of all those that made them aware of the health challenges of Chukwu.

    Pinnick described Chukwu as a living legend, adding that the NFF would not allow him to die.

    He said that it was a situation like that that made the NFF under his administration to set up a foundation to cater for ex-footballers.

    “Without players there will not be NFF. The foundation will take care of him. We believe it is not just the responsibility of the state government alone,” he said.

    Pinnick said that the NFF was making consultation to fly Chukwu to London for surgery.

    “This cheque is to take care of his medical surgery. We are in touch with the British Consular to arrange the trip,” Amaju said.

    Responding, the son of the former coach, Emeka Chukwu, thanked the donor and the NFF for their interests in his father’s illness.

    The News Agency of Nigeria (NAN) reports that the delegation comprising Gov. Ifeanyi Ugwuanyi of Enugu State and members of the State Executive Council, after the visit proceeded to Nikea Specialist Hospital to access the medical records of Chukwu for onward transmission to a London hospital.

  • Victor Olaotan to begin treatment after Femi Otedola’s N30 million donation

    Veteran actor, Richard Mofe-Damijo has confirmed the receipt of ‘almost’ $100, 000 (N30 Million) pledged by Nigerian Billionaire Femi Otedola, for the medical bills of veteran actor, Victor Olaotan who is currently receiving treatment from injuries he sustained from an accident in October 2016.
    Recall that last December, Otedola promised take care of the medical bills for Olaotan’s treatment after Gbenro Ajibade started a social media campaign to help raise money to fund an overseas medical treatment.
    RMD at that time took to Instagram page to recount how he reached out to the billionaire who later called him back to bear the cost.
    In a new development, Mofe Damijo has stated that Otedola has fulfilled his promise.
    He wrote on Instagram: “I just wanted to share this here not to flatter Femi but to reiterate that you are what you do not what you say you will do. Thank you my brother @femiotedola for proving that you are a man of your words. God bless you.”

     

    See his full post below:

     

    https://www.instagram.com/p/Bt5p9mAFLZa/?utm_source=ig_embed

  • Otedola’s daughter, DJ Cuppy buys N162m customized Rolls Royce Phantom

    Otedola’s daughter, DJ Cuppy buys N162m customized Rolls Royce Phantom

    Popular Nigerian disk jockey and singer, Florence Otedola a.k.a. DJ Cuppy is now a proud owner of a customised Rolls Royce Phantom estimated at N162 million.

    The 26-year-old daughter of billionaire Femi Otedola, made this known on Friday in her Instagram handle @cuppymusic with a picture of the car.

    “After a 13 month wait, finally picked up my new specially built order! Florence Ote #NewYearNewRide.’’

    Cuppy, who is also a producer won Best Female DJ at the 2015 Nigerian Entertainment Award.

    The Green Light crooner also collaborated with artists such as Tekno, Sarkodie in `Vybe,’ `Currency’ where she featured L.A.X, `Werk’ featuring Skuki and `Charge Up’ with MasterKraft.

    In April 2014, Cuppy was appointed as the Tourism Ambassador for the country’s “Fascinating Nigeria’’ campaign by Nigeria’s Ministry of Tourism, Culture and National Orientation.

    On Mar. 20, 2018, DJ Cuppy was announced as an Official DJ Ambassador for Pepsi.

    On June 5, 2018, the billionaire’s daughter was announced as a Global Citizen Education Ambassador.

  • Otedola moves to acquire Forte Oil upstream, power firm

    Otedola moves to acquire Forte Oil upstream, power firm

    Majority shareholder of Forte Oil Plc, Mr Femi Otedola , is planning to buy out the company’s upstream services and power distribution firm to be ratified by the shareholders on Feb. 7.

    Mr Akinleye Olagbende, the firm’s Company Secretary, disclosed this in a letter to the Nigerian Stock Exchange (NSE) on Wednesday.

    Olagbende said the move followed shareholders’ approval, on May 23, 2018, of the divestment of Forte Oil from its Ghana unit AP Oil and Gas and Amperion Power Distribution Company, which holds the group’s interest in Geregu Power Plc.

    He said the company’s efforts to dispose the assets was hit by low interest in the bidding process as well as low price expectations.

    “A public tender sale process was commenced to attract interested potential investors to participate in the divestment opportunity.

    “Upon review of the outcome of the sale process, the management of the company is of the view that there was an unexpectedly low interest in the bidding process.

    “The pricing proposal does not meet its expectation, based on an independent valuation of Amperion, thus, may not be in the best interest of its shareholders,” Olagbende said.

    He said based on the development, the company’s chairman had expressed interest to participate in the divestment opportunity through his designated vehicle.

    According to him, the proposal will be subject to a rigorous review by the company’s management and if successful must be in line with relevant extant regulatory requirements.

    He said the process, if successfully completed, would ensure adequate funding for the company’s downstream operations.

    He explained that the proceeds of this restructuring exercise would enable the company to compete more favourably and achieve its planned expansion objectives within the downstream subsector.

    “This will also reduce our finance cost significantly and increase distributable earnings for the benefit of our shareholders,” he added.

    The News Agency of Nigeria (NAN) reports that Otedola had signaled his intention to sell-off his 75 per cent direct and indirect holdings in Forte Oil downstream business.

    He had reached an agreement with Prudent Energy team, investing through Ignite Investments and Commodities Limited, to divest his 75 per cent direct and indirect shareholding in the Company’s downstream business.

    It is not clear if the move by the billionaire was part of his original plan to divest from the downstream business of the company to enable him to take over the lucrative upstream and power assets of the firm.

  • Otedola to settle actor Victor Olaotan’s hospital bills – RMD

    Billionaire, Femi Otedola has agreed to settle ailing actor, Victor Olaotan’s medical bills, says Richard Mofe-Damijo.

    News Agency of Nigeria (NAN) reports that Olaotan was reported to need 50, 000 dollars for medical treatment abroad following a ghastly car accident in 2016.

    A go-fund-me account was opened on his behalf for friends, fans and industry colleagues to donate towards his treatment.

    The veteran actor reportedly faces possible amputation of both legs to stabilize his condition
    Mofe-Damijo took to his Instagram page @mofedamijo on Wednesday to share the uplifting news that Otedola will clear all the medical expenses.

    He said, “so, a few days ago, I reached out to @femiotedola asking for help for my friend and brother, Victor and just this morning Femi calls to tell me that he would take care of ALL of Victor’s bills.

    “He told me that he is already on it and that his people are talking to Victor’s wife. Is God not awesome?? I can’t even contain my joy and gratitude.

    “Thank you Femi @femiotedola you are a man and half and thank you to my young friend @gbenroajibade for championing this cause.

    “They don’t make them like you anymore. Thanks for being such an amazing ‘child’ and I am proud to know you.

    “Thank you to everyone who has supported one way or the other. It’s been a long time coming,” Mofe-Damijo wrote.

    NAN reports that Olaotan is best known for his role as Fred Ade-Williams in the long-running television drama, ‘Tinsel’, “Three Wise Men.’’

  • Subsidy fraud: Otedola appears in court, insists Lawan demanded $3m bribe

    The main prosecution witness in the trial of a former member of the House of Representatives, Farouk Lawan, Wednesday testified before a High Court of the Federal Capital Territory, Abuja.

    Femi Otedola, the founder of Zenon Oil, was allegedly pressured by Lawan to part with a $3 million bribe while the latter was chairing a subcommittee investigating a multi-billion dollar fraud associated with government fuel subsidy during the administration of former president Goodluck Jonathan.

    Lawan was re-arraigned in December 2016 by the Nigerian government for the alleged offence.

    On Wednesday, Otedola entered the witness box after he was introduced by the prosecution counsel, Adegboyega Awomolo.

    Shortly after, the prosecution played a video where Lawan was seen receiving $500 000 from Otedola.

    The witness then addressed the court on the events narrated in the video, following questions from Awomolo.

    According to Otedola, the accused had indicted his company in the alleged fraud and demanded $3 million to exonerate him.

    The witness added that after the initial deposit of $500,000 was paid into his account, Lawan declared Zenon Oil and Gas free of the initial indictment.

    After the early hours of 24th April 2012: (the time the money was paid) he left and removed the name of Zenon from the list of indicted companies,” Otedola said while explaining the events that prompted his alleged payment of $500,000 to Lawan in April 2012.

    When asked by the prosecution counsel about the claim by Lawan that the witness forced him to take the money, Otedola denied it.

    I could not have put pressure on him because Zenon Oil was not involved in the theft of the subsidy fund.

    He did demand. And if he did not demand, why will he collect and expect a balance of $2.5 million? He mentioned to me that the $3 million will be shared by himself and some other members of the House,” Otedola said.

    Moreover, the company in question was not involved in the importation of petroleum motor spirit (PMS) and as such never applied to withdraw from the petroleum fund.”

    The witness also denied an allegation by Lawan that he (Otedola) offered to pay the money so that his name would be removed from the list of indicted companies.

    I did not offer any $3 million, because I was one of the biggest players in the business. And I reported the matter initially when I found out about the scam. And he mentioned to me that several companies that were involved in the scam were paying. And I reported to the SSS.”

    Otedola also denied a claim by Lawan that Zenon Oil and Gas was exonerated on the basis of documents later provided by the company.

    It was the money because during the course of the sitting of the subcommittee we had submitted all the documents.”

    Otedola said his report to security operatives on the matter prompted investigations into the allegations by the police who invited him for questioning after which his statement was taken.

    The defence was unable to cross-examine the witness after a lawyer from Mike Ozekhome’s chambers requested for an adjournment to enable his principal to attend the next trial and conduct the cross-examination.

    The lawyer said he was sick and could not proceed with the cross-examination at the day’s sitting.

    The judge, Angela Otaluka, adjourned the matter to January 28 for cross-examination.

    The judge added that the defence should prepare itself to start and finish the cross-examination on the next adjourned date.

    Recall that Lawan was first arraigned in February 2013 along with another accused, Boniface Emenalo, for allegedly receiving $620,000 of the alleged bribe from Otedola and his company.

    The case was then handled by Adebukola Banjoko also of the same FCT High Court.

    Banjoko, however, stepped down from the matter in 2014, following allegations of bias brought against her by the defence.

    The charge was later amended to include only Lawan who was accused of receiving $500,000 of the total sum intended to be paid as bribe.

  • Business mogul, Otedola endorses Sanwo-olu

    Renowned entrepreneur, Femi Otedola has endorsed the Lagos State governorship candidate of the All Progressives Congress, Mr. Babajide Sanwo-Olu for governor.

     

    Recall that the Chairman of Forte Oil PLC, was only last month rumoured to be running for governor on the platform of the Peoples Democratic Party, a report which he neither denied nor confirmed.

     

    Publisher of Ovation magazine, Dele Momodu in September confirmed that Otedola had personally told him that he would be contesting the governorship seat.

     

    In a post shared on his official Instagram handle on Saturday, Otedola described Sanwo-Olu as his childhood friend and the incoming governor of Lagos State.

    “Dinner at my residence yesterday evening with my childhood friend, APC governorship candidate, Jide Sanwo-Olu; the governor in waiting.”

     

     

     

    https://www.instagram.com/p/BqRupzfHJsi/

     

  • Femi Otedola bus trip creates Instagram frenzy[Video]

    Femi Otedola bus trip creates Instagram frenzy[Video]

    Nigerians were stunned and stupefied, when picture of business mogul and billionaire , Femi Otedola surfaced online taking a bus trip in London UK.

    It is rare to see a Nigerian billionaire using public transport. By virtue of their wealth and flamboyant lifestyle, they are not expected to be seen in that light.

     

    The chairman of Forte Oil took a bus “to see my old teacher at Wandsworth” — and Nigerians on Instagram can’t get over the shock.

     

    The revered businessman shared the video on his Instagram page. Surprisingly, it has been viewed 262,000 times with over 1,500 comments

     

    Read the comments below

    Sunnyoche: Baba please us o, we are looking for a change that will transform us.. @femiotedola

    Olusegunoyeleke: He should take danfo in Lagos now? This speaks more to the basic of a society….security and transportation. When everyone is safe everyone can be humble

    Michelle: Don’t try this at home Otedola… Thank you ?

    Abbeyaimufua: If only the man sitting in front of him New he was a billionaire , what will he do ??that’s why I like London everyone is equal till when u show ur bank Acct ooo ????

    Omograndma: Hello sir, pls what soap, do you use, because this your freshness is on a different level. By the way..I’m serious sir!

     

    What you should know about Rihanna’s Billionaire boyfriend

     

    https://www.instagram.com/p/BhJ-U9gDsVQ/?taken-by=femiotedola

  • Watch: Femi Otedola sets Instagram ablaze, dances with daughters

    Though Nigerian Billionare oil mogul, Femi Otedola is new on Instagram, he already has a verified account and enjoying massive engagement online.

    The revered entrepreneur who joined Instagram in February set the photo sharing site on fire by posting a video last night which has enjoyed a lot of views.

    In the video posted, the billionaire was seen dancing to Davido’s hit song, Omo Baba Lowo, with his daughters.

    No one knew what triggered the dance but it has generated a myriad of opinions from Nigerians .

     

     

     

    https://www.instagram.com/p/BgJEDU2jS_S/?taken-by=femiotedola

    You can only have a fulfilled sex life, if you experience it before marriage- Jane Obi