1 month ago
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Billionaire businessman Femi Otedola has dismissed allegations linking him to Nigeria’s substance subsidy fraud, describing the claims arsenic “false, baseless, and a shameless effort to pander to lies.”
Otedola was reacting to an nonfiction by Umar Sani, a erstwhile Special Adviser (Media) to ex-Vice President Namadi Sambo, who accused him of benefitting from the arguable subsidy authorities nether the Goodluck Jonathan administration.
In a connection posted connected X connected Monday, Otedola maintained that his company, Zenon Petroleum and Gas Limited, ne'er participated successful the subsidy strategy due to the fact that it dealt lone successful diesel, which was deregulated astatine the time.
“Zenon Petroleum and Gas Limited was wholly an importer and trader of diesel with a marketplace stock successful excess of 90%. We ne'er traded successful Premium Motor Spirit (PMS) and arsenic specified could not person claimed for subsidy nether the Petroleum Subsidy Fund scheme,” Otedola stated.
He explained that PMS was the lone merchandise eligible for claims nether the subsidy scheme, portion diesel had agelong been deregulated.
“It is truthful shocking that idiosyncratic similar Umar Sani who occupied a presumption of authorization and work could show specified ignorance of basal manufacture facts successful public,” helium added.
Otedola besides insisted that acold from being complicit successful subsidy fraud, helium was among the archetypal to exposure it during the Jonathan era.
According to him, helium alerted the erstwhile president directly, and erstwhile the past Minister of Petroleum denied the allegations, helium took the substance to Senator Bukola Saraki, who aboriginal raised it successful the Senate.
“With my beardown determination to halt the economical malaise and bleeding, I called Senator Bukola Saraki and reported the fraud to him. He took it to the level of the Senate, and from determination the House of Representatives began its investigation,” Otedola recalled.
“If I was complicit successful subsidy theft, would I beryllium the 1 to rise the alarm and stroke the whistle connected myself? That unsocial should question the motive of Umar Sani for his astir caller work connected this matter,” helium said.
In his article, Sani had accused Otedola of hypocrisy, alleging that his institution controlled “as overmuch arsenic 90% of diesel imports and up to 40% of others” nether the aforesaid strategy helium present condemns.
He besides faulted Otedola’s assertion that much than N2 trillion was siphoned nether Jonathan’s government, describing it arsenic “hypocritical and selective.”
The contention follows Otedola’s caller involution successful the quality betwixt the Dangote Petroleum Refinery and substance marketers, wherever helium criticized members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) implicit alleged subsidy fraud and obsolete practices.
The station Otedola denies complicity successful subsidy fraud, counters Umar Sani’s allegations appeared archetypal connected Vanguard News.
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