Business magnate Femi Otedola has instructed his legal team to file a ₦1 billion libel suit against Umar Sani, who formerly served as spokesperson to ex‑Vice President Namadi Sambo.
In a public statement, Otedola said he is taking action due to what he described as “deliberate lies and unfounded allegations,” stressing that reputations should not be “toyed with for cheap propaganda.”
He vowed to pursue the case “to every extent” to deter similar mischief in the future.
Sani had accused Otedola of benefiting from Nigeria’s petroleum subsidy regime, alleging that Otedola’s company, Zenon Petroleum & Gas Ltd, paid marked money to Farouk Lawan under the guise of a sting operation.
Their dispute escalated when Otedola intervened in the ongoing conflict between Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), urging marketers to adapt to changing realities.
Otedola further claimed that approximately ₦2 trillion was misappropriated in fuel subsidy claims during President Goodluck Jonathan’s administration (2009–2015).
He called on the Federal Government to make the full report on subsidy claims public.
In response, Sani accused Otedola of posturing as morally superior amid the DAPPMAN‑Dangote controversy. Otedola countered the allegation, accusing Sani of attempting to “rewrite history with distorted facts” and dragging his name “into disrepute.”
He challenged his critics to read his recently published book Making It Big, and “study the facts,” urging them to stop embarrassing themselves with baseless claims.
“I have nothing to hide,” Otedola declared, “and I will not allow falsehoods to be written into history.”
