9 November 2012

Nigeria: Subsidy Fraud - Otedola Claims N250 Billion From Tambuwal, Farouk

Photo: Vanguard
Rep. Farouk Lawan, accused of receiving bribe from oil marketers, could be exonerated.

Lagos-based multi-billionaire oil magnate Femi Otedola has asked an Abuja High Court to direct the Speaker of the House of Representatives, Aminu Tambuwal and former chairman of the House ad hoc Committee on the Oil Subsidy Probe, Hon. Lawan Farouk, to collectively pay him and his company total sum of N250 billion as damages for defamation.

Otedola asked the court to award him N250 billion for the grave injuries done to his reputation and business image resulting in the substantial loss of goodwill and patronage of the business built over the years.

In the suit instituted on his behalf by Chief Babajide Koku (SAN), Otedola is claiming N100 billion as general damages for acts of intimidation, loss of goodwill and patronages occasioned by the acts of the Speaker and Farouk.

In the legal action he jointly filed along with his Zenon Petroleum and Gas Company, Otedola is claiming another N150 billion against the defendants as exemplary damages for their alleged oppressive and arbitrary actions against him and his company.

He is also challenging the alleged move by Lawan Farouk and Tambuwal to re-list his company among the oil firms already indicted for allegedly defrauding the federal government.

In his 28-point statement of claims, Otedola stated that by resolution of January 8, this year, the House of Representatives set up an ad hoc committee to verify and determine the actual subsidy amount made to oil companies and to also monitor the implementation of the subsidy in the country.

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