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Otedola to Tinubu: Make fuel subsidy report public, name those who looted funds

Published

8 months ago

September 29, 2025

Femi Otedola

Otedola to Tinubu: Make fuel subsidy report public, name those who looted funds

Renowned Nigerian entrepreneur, Femi Otedola, has called on President Bola Ahmed Tinubu to make public the full findings of the Aigboje Aig-Imoukhuede panel set up during the Goodluck Jonathan administration to investigate the controversial fuel subsidy regime.

In a statement issued yesterday, Otedola emphasized that Nigerians deserve transparency on the matter, stressing the need to expose individuals who allegedly siphoned billions of naira through the Petroleum Subsidy Fund (PSF) scheme, which ran for several years.

“I implore President Bola Ahmed Tinubu to release the full Aigboje Aig-Imoukhuede report on subsidy fraud as Nigerians deserve to know the truth. It is on record that the Presidency at the time called on the late Economic and Financial Crimes Commission (EFCC) Chairman, Ibrahim Lamorde, to halt the investigation. Let the report be made public so the real subsidy thieves can be unmasked,” Otedola stated.

The renowned philanthropist was reacting to an allegation by Umar Sani, a former Special Adviser (Media) to ex-Vice President, Namadi Sambo, who said that at the peak of the subsidy regime, Otedola, through his company, Zenon Petroleum and Gas Ltd, benefitted from the scam he’s now criticising.

Sani stated he had empirical evidence showing that Otedola controlled as much as 90 per cent of diesel imports and up to 40 per cent of other products at the time. “The same system he now condemns was one in which he was deeply entrenched and from which he personally benefited immensely.”

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Riled by the imputation, Otedola in the statement, disclosed that he has already instructed his lawyers to slam a N1 billion suit on Sani for defaming him, maintaining that he only sold diesel which had no subsidy at the time he controlled the market in Nigeria.

“My attention has been drawn to a mischievous and malicious publication written by one Umar Sani, a former Special Adviser (Media) to former Vice President Namadi Sambo, attempting to twist facts and drag my name into disrepute and allegations of complicity in the subsidy fraud. His insinuations are false, baseless, and a shameless attempt to pander to lies and rewrite history. Let me set the record straight for the overall benefit of the discerning public.

“Zenon Petroleum and Gas Limited was wholly an importer and trader of diesel with a market share in excess of 90 per cent, never traded in Premium Motor Spirit (PMS) and as such could not have claimed for subsidy under the Petroleum Subsidy Fund scheme. Diesel had been long deregulated even before the adoption of the PSF and did not fall under petroleum products to be claimed under the PSF regime.

“PMS was the only product that was eligible for claim under the PSF scheme in a bid by the government to make the product available and affordable to all and sundry. It is therefore shocking that someone like Umar Sani who occupied a position of authority and responsibility could display such ignorance of basic industry facts in public.

“I view this as either mischief (and taking advantage of the uneducated public) or a blatant display of gross ineptitude. If diesel did not fall under the subsidy regime, how can Umar Sani then accuse Zenon Petroleum and Gas Limited of impropriety under the subsidy regime,” Otedola asked.

Writing on the process that led to the exposure of the subsidy fraud, Otedola stated that he was indeed a member of President Goodluck Jonathan’s Economic Team and was the one who first alerted the President of the monumental fraud being perpetrated by economic saboteurs under the PSF scheme.

“When he (Jonathan) called the then Minister of Petroleum, she denied it. With my strong determination to stop the economic malaise and bleeding, I called Senator Bukola Saraki and reported the fraud to him. He took it to the floor of the Senate, and from there the House of Representatives began its investigation.

“These Statesmen are alive and my assertions above can be corroborated if necessary. If I was complicit in subsidy theft, would I be the one to raise the alarm and blow the whistle on myself? That alone should question the motive of Umar Sani for his most recent publication on this matter,” he pointed out.

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When it became public industry knowledge that he (Otedola) was the whistleblower on the subsidy fraud, he said that some of the perpetrators decided to fight back by using the House Committee on the probe, headed by Farouk Lawan who tried to indict him without any basis.

“As they always say, it’s only natural for corruption to fight back. The House Committee on the subsidy probe was now being manipulated by the subsidy fraudsters and thereby turning the probe panel into an extortion racket. When the harassment and blackmail became incessant on my person, I petitioned the authorities and worked with the Department of State Security (DSS) in a sting operation.

“The money was provided by the DSS, duly marked, and handed over to me under security surveillance. I then gave it to Farouk Lawan in line with the sting operation. That is on record. To twist that carefully documented operation into an indictment against me is laughable and only exposes the ignorance of Mr. Sani. You may be aware that Hon. Lawan was subsequently convicted and sentenced to five years imprisonment for bribery. The facts are very clear and public,” he added.

On the allegations and insinuations about his Asset Management Corporation of Nigeria (AMCON) involvement, Otedola described it as a demonstration of mischief and ineptitude on the part of Sani.

He wondered why someone would twist publicly available information to ‘miseducate’ the populace, highlighting that he had never hidden the fact that he (Otedola) suffered financial losses from the global economic meltdown of 2008 resulting in a huge debt exposure to the Nigerian financial services industry.

The loans, he said, were sold to AMCON, after which he (Otedola) in turn gave up his assets worth hundreds of billions of Naira to settle his obligations under a court-ordered settlement.

“It is on record that AMCON itself publicly commended my approach and told other debtors to follow my example. Court records are there for anyone seeking the truth to investigate. AMCON officials from that time are also alive today to confirm the truth. I even addressed this matter in my book, ‘Making it Big’ which was recently published and released to the public,” Otedola said.

The businessman therefore emphasised that he would not allow anyone to toy with his hard-earned reputation, announcing his decision to sue the former presidential aide over the alleged defamatory remarks.

“Because of these deliberate lies and unfounded allegations, I have instructed my lawyers to file a N1 billion libel suit against Umar Sani. People must learn that reputations are not to be toyed with for cheap propaganda and to serve as a deterrent for other mischief makers in the future. I will go to every extent that this is achieved.

“To Mr. Sani and others who peddle these half-baked stories: go and read my book Making It Big, study the facts, and stop disgracing yourselves with ignorance. I have nothing to hide and I have always acted in the interest of truth and accountability. Those who benefitted from subsidy fraud know themselves. I will not sit back and allow falsehood to be written into history,” he maintained.

Otedola to Tinubu: Make fuel subsidy report public, name those who looted funds

(Nation)

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US Civil Rights Organisation Appoints Deji Adeyanju to Board

Published

8 minutes ago

May 15, 2026

Trends Admin

Human rights lawyer Deji Adeyanju

US Civil Rights Organisation Appoints Deji Adeyanju to Board

Human rights lawyer and activist, Deji Adeyanju, has been appointed to the Board of the Katutu Civil Rights Center, an international civil rights organisation headquartered in New York, United States.

The appointment was formally communicated to THE WHISTLER on Friday by the organisation, confirming Adeyanju’s inclusion in its global leadership structure.

The Katutu Civil Rights Center is a civil rights and advocacy organisation known for its work in human rights protection, policy engagement, and support for vulnerable and marginalised communities across different regions of the world.

In his acceptance, Adeyanju expressed gratitude for the appointment, saying he was honoured to support the organisation’s mission of advancing human rights and strengthening civic participation globally.

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He noted that the role would further enable him to contribute to justice-oriented advocacy beyond Nigeria, while working alongside international stakeholders focused on democratic governance and civil liberties.

Adeyanju, who has been active in human rights advocacy for over a decade, is widely known for his campaigns against police brutality, civic repression, and abuse of power in Nigeria.

His appointment has been interpreted by observers as international recognition of his long-standing involvement in democracy advocacy, social justice campaigns, and legal representation of activists and citizens in high-profile rights cases.

The Katutu Civil Rights Center said Adeyanju’s selection reflects its commitment to including diverse voices from different regions in its governance structure, particularly individuals with hands-on experience in grassroots human rights work.

The organisation also highlighted his track record in legal activism and public advocacy as key factors in his appointment.

The development has sparked reactions across civic and human rights circles, with supporters describing it as a significant milestone for Nigerian civil society engagement on the global stage.

Adeyanju’s new role is expected to further expand his involvement in international human rights conversations, particularly around accountability, rule of law, and protection of civic freedoms.

US Civil Rights Organisation Appoints Deji Adeyanju to Board

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Woman Gets 20-Year Jail Term For Supporting Terrorism Activities

Published

35 minutes ago

May 15, 2026

Trends Admin

Halima Umar

Woman Gets 20-Year Jail Term For Supporting Terrorism Activities

A Federal High Court in Abuja has sentenced a housewife, Halima Umar, to 20 years imprisonment after she was found guilty of offences linked to terrorism financing, illegal arms movement, and unlawful possession of ammunition allegedly meant for bandits operating in Plateau State.

Justice Hauwa Joseph Yilwa delivered the judgment on Friday after the defendant pleaded guilty to two out of a four-count charge filed against her by the Department of State Services (DSS).

The court ruled that offences involving terrorism, illegal arms trafficking, and support for criminal groups posed serious threats to Nigeria’s national security and therefore required stiff punishment.

According to details presented during the trial, Umar admitted acting as a courier responsible for transporting 302 rounds of AK-47 ammunition to suspected bandits.

A DSS operative, Fahad Tahir, who testified before the court, said the defendant was arrested on July 6, 2025, while allegedly transporting the ammunition alongside N57,100 cash.

Investigations later revealed that Umar was allegedly instructed by one Alhaji Sani to travel to Zaria in Kaduna State, where she collected the ammunition from another contact before attempting to deliver it onward.

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The prosecution further told the court that the defendant was transferred to the DSS National Headquarters in Abuja on August 11, 2025, where she made additional confessional statements in the presence of a lawyer from the Legal Aid Council.

During the proceedings, prosecution counsel, Dr. Callistus Samson Ezeh, tendered the recovered ammunition, the cash sum, and the defendant’s confessional statements as exhibits. The defence did not object to the admissibility of the evidence.

Umar also personally admitted before the court that she was in possession of the ammunition and cash at the time of her arrest.

The charges against her included providing support for terrorism-related activities under the Terrorism (Prevention and Prohibition) Act, 2022, and unlawful possession of ammunition under the Firearms Act, 2004.

Although the convict pleaded for leniency and expressed remorse, Justice Yilwa held that crimes connected to terrorism support, arms trafficking, and the movement of illegal ammunition could not be treated lightly because of their grave implications for public safety and national stability.

Following her guilty plea and the evidence presented by the DSS, the court convicted and sentenced her to 20 years imprisonment.

The conviction comes amid intensified efforts by Nigerian security agencies to tackle banditry, terrorism, kidnapping, and the illegal movement of weapons across the country.

Woman Gets 20-Year Jail Term For Supporting Terrorism Activities

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Police Dismiss Five Inspectors, Prosecute Three Over Robbery, Kidnapping in Rivers

Published

42 minutes ago

May 15, 2026

Trends Admin

Force Public Relations Officer, DCP Anthony Placid

Police Dismiss Five Inspectors, Prosecute Three Over Robbery, Kidnapping in Rivers

The Nigeria Police Force has dismissed five inspectors and initiated prosecution proceedings against three others over alleged involvement in armed robbery, kidnapping, extortion, and abuse of office in Rivers State.

The development was confirmed on Friday during the parade of the affected officers at the Rivers State Police Command headquarters on Moscow Road, Port Harcourt, by the Force Public Relations Officer, ACP Anthony Placid.

Placid said the disciplinary actions followed extensive investigations into multiple complaints of criminal conspiracy, kidnapping, stealing, extortion, and misconduct allegedly carried out by officers operating within Rivers State and other parts of the country.

According to the police spokesperson, three inspectors attached to Zone 16 Headquarters, Yenagoa — identified as Ayanniyi Jelil, Durojaye Francis, and Olayemi Titus — were arrested over the alleged abduction and robbery of a man identified as Festus Saturday. He explained that the officers were allegedly operating an illegal patrol team along the Igboh-Etche axis when they stopped the victim and his cousin during a stop-and-search operation in November 2025.

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The officers were said to have assaulted the victims, forced them to unlock their mobile phones, and gained access to their banking applications and cryptocurrency wallets, before allegedly stealing about ₦7.3 million and $1,742. Placid further alleged that the suspects used AK-47 rifles during the operation and had carried out similar attacks on other unsuspecting residents across Rivers State. Recovered items reportedly include three Toyota Sienna buses allegedly linked to the operation, while three additional officers connected to the case are currently on the run.

In a separate case, five officers attached to the Operations Department of the Rivers State Police Command were dismissed following investigations into allegations of armed robbery, kidnapping, extortion, and abuse of office. The dismissed officers were identified as John Okoi, Eyibo Asuquo, Udo Ndipmong, Bright Nwachukwu, and Anele Ikechukwu.

Their case followed petitions filed by the Behind Bars Human Rights Foundation on behalf of victims who accused the officers of operating illegal patrol teams and abducting civilians around Port Harcourt. Police investigations reportedly showed that the officers routinely seized victims’ phones, accessed bank details, and transferred funds from accounts and cryptocurrency wallets.

One of the victims, Felix Favour, was allegedly forced to transfer about $4 million in cryptocurrency, while another victim reportedly lost ₦940,000 after being kidnapped along Aba Road. Another complainant, Okparaocha David Ugochukwu, was said to have lost ₦1.3 million, as well as jewellery and a wristwatch valued at over ₦6 million. Investigators also alleged that the officers falsely claimed to be operatives of Zone 16 Headquarters to intimidate victims and evade detection.

Placid said all the affected officers were subjected to orderly room trial procedures before their dismissal, while those indicted in the criminal cases have been recommended for prosecution. He added that the Nigeria Police Force remains committed to internal discipline and will not tolerate misconduct that undermines public trust, stressing that efforts are ongoing to arrest the fleeing suspects and ensure accountability.