L
LequteMan
Guest
Nigerian oil tycoon, Femi Otedola, worth over $900m currently owes the NNPC a whopping $16m and has sensationally refused to pay the said amount, Sahara Reporters say.
Otedola had since 2004 owed $16 million to the Pipelines and Product Marketing Company (PPMC), a subsidiary of the NNPC, reports say.
Mr. Otedola, who owns Zenon Oil, Forte Oil PLC as well as other businesses, accumulated the $16 million debt between 2004 and 2008.
Mr. Otedola has ignored several appeals by the PPMC to pay off the debt, according to documents obtained by SaharaReporters.
“He has not responded with good faith to many appeals we have made to settle what his companies owe to the PPMC,” an official said.
The agency could not pursue the debt matter aggressively because Mr. Otedola was a regular guest of former President Goodluck Jonathan at Aso Rock, reports say.
Otedola had since 2004 owed $16 million to the Pipelines and Product Marketing Company (PPMC), a subsidiary of the NNPC, reports say.
Mr. Otedola, who owns Zenon Oil, Forte Oil PLC as well as other businesses, accumulated the $16 million debt between 2004 and 2008.
Mr. Otedola has ignored several appeals by the PPMC to pay off the debt, according to documents obtained by SaharaReporters.
“He has not responded with good faith to many appeals we have made to settle what his companies owe to the PPMC,” an official said.
The agency could not pursue the debt matter aggressively because Mr. Otedola was a regular guest of former President Goodluck Jonathan at Aso Rock, reports say.
