Billionaire businessman, Femi Otedola, has sold his majority stake in Geregu Power Plc for N1.088 trillion in a deal financed by a consortium of banks led by Zenith Bank Plc. The Nigerian Exchange, NGX, made this announcement on Monday. Otedola’s Amperion Power Distribution Company Ltd reportedly held nearly 80 percent of the power generating company….
Nigerian billionaire Femi Otedola has issued a threat of suing Umar Sani, a former aide to former Vice President Namadi Sambo, N1 billion, which was effectively replied to by former aide Umar Sani. It has been reported that Otedola had directed his lawyer to file a N1 billion suit against Umar Sani over his remark…
The Naira has continued to appreciate against the dollar in the forex market despite the ongoing protests against misgovernance across the country. This comes at a time when the Naira has gained tremendous value in the official and stable forex market. , FMDQ data showed that the Naira appreciated against the dollar from N1,608.73 on…
In a significant development, Group First Bank Chairman, Femi Otedola and the Chairman of the African Union Bank (UBA), Tony Elumelu, have expressed support for the Federal Government’s new forex windfall tax. This decision follows President Bola Tinubu’s motion on July 17 in the National Assembly to amend the Finance Bill, 2023, which unilaterally imposes…
