CAPTION:President Bola Ahmed Tinubu Receives in audience the Chairman of FBNHoldco PLC , Mr Femi Otedola CON in Abu Dhabi today
*#PresidentialVillaUpdate*
Femi Otedola, has clarified a write up in the dailies purported to have been instigated by Mr. Nduka Obaigbena, filled with baseless allegations aimed at smearing his reputation.
In a statement, Otedola ssid Obaigbena resorted to such tactics simply because he had been asked to repay his $230 million loan.
He said the loan, facilitated with the help of the former Central Bank of Nigeria Governor, Mr Godwin Emefiele, was purportedly for the operation of an oil block which Obaigbena obtained without competitive bidding.
“However, the funds were diverted for personal use-funding Mr Emefiele’ presidential aspirations, acquisition of luxury properties abroad, the operation of a private jet, and an extravagant $68 million spent on jet rentals in just four years. Mr Obaigbena’s profligacy is well known, as is his penchant for using his media platforms to blackmail and silence those who hold him accountable,” he said.
Otedola said as Chairman of First Bank Holdings, his primary responsibility “is to protect the interests of the bank’s shareholders and depositors.”
He said actions initiated in the courts were necessary to recover funds that belong to depositors and ensure corporate governance.
“Mr Obaighena’s penchant of blackmailing people to escape accountability must end, especially when depositors’ money is at stake. My commitment to upholding the integrity of the financial system and protecting depositors outweigh any cheap attempts at blackmail,” he said.
The businessman said his integrity “is not in question.”
“As Chancellor of Augustine University and a benefactor of Save the Children Fund, I continue to dedicate my wealth to noble causes. I will not allow unscrupulous elements to derail the efforts of First Bank to recover loans or jeopardize the financial security of our shareholders,” Otedola said.
He concluded by assuring all stakeholders of his steadfastness in the mission to protect First Bank’s integrity and ensure its continued success.
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