LAGOS JANUARY 18TH (NEWSRANGERS)-It is all of 40 years of friendship in ruins as the debt dispute between high-profile Nigerians Nduka Obaigbena and Femi Otedola worsens, findings reveal. First Bank, with Otedola as Chairman, is unrelentingly taking drastic steps to recover an estimated $225.8m from General Hydrocarbons Limited, an oil servicing firm with Obaigbena as…
LAGOS JANUARY 15TH (NEWSRANGERS)-The legal battle between Femi Otedola’s First Bank and Nduka Obaigbena’s General Hydrocarbons Limited has intensified. In the latest development, the Federal High Court in Port Harcourt has granted an order to arrest and detain the crude oil cargo on board the Floating Production Storage and Offloading (FPSO) Vessel Tamara Tokoni. Personnel of…
LAGOS JANUARY 27TH (NEWSRANGERS)-The Supreme Court has upheld the five years sentence of former House of Representatives member, Farouk Lawan, for receiving a bribe of $500,000 from businessman Femi Otedola. His appeal sought to set aside the February 24, 2022 judgment of the Court of Appeal in Abuja, which sentenced him to a five-year jail…
LAGOS FEBRUARY 10TH (NEWSRANGERS)-Labour Party (LP) Presidential Candidate in the February 25, 2023 Election, Peter Obi with the Titans of Corporate Nigeria, Aliko Dangote, President of the Dangote Group (3rd left), Tony Elumelu, Chairman, UBA PLC & Heirs Holdings (2nd left), Femi Otedola, Executive Chairman, Geregu Power PLC (2nd right), Aigboje Aig-imoukhuede, former GMD,…
The Chairman of FBN Holdings (FBNH), Mr Tunde Hassan-Odukale, has been confirmed as the largest single shareholder of the company. The News Agency of Nigeria (NAN) reports that this was stated in a letter published on the website of the Nigerian Exchange Ltd (NGX) on Wednesday. The letter signed by FBNH’s Company Secretary, Mr Seye…
LAGOS OCTOBER 23RD (NEWSRANGERS)-FBN Holdings Plc Friday denied claims by online media that the Nigerian business mogul, Femi Otedola has acquired majority stake in the bank. In a statement signed by the company secretary, Seye Kosoko obtained from Nigerian Exchange Limited(NGX), the bank is yet to receive any notification from the individual mentioned on such…
LAGOS JUNE 22ND (NEWSRANGERS)-The Federal Capital Territory (FCT) High Court in Apo, Abuja, has sentenced a former federal lawmaker, Farouk Lawan, to seven years imprisonment for taking bribes while serving as the chairman of the defunct House of Representatives ad-hoc committee investigating the fraud around fuel subsidy regime in 2012. Angela Otaluka, the trial judge,…
LAGOS NOVEMBER 11TH (NEWSRANGERS)-Business mogul, Femi Otedola, has donated N5bn to the Cuppy Foundation, a philanthropic project of his singer daughter, Florence Otedola, popularly known as DJ Cuppy. Mr. Otedola, who was represented by another one of his daughters, Tolani, made the announcement during the ‘Gold Gala,’ an event by his daughter, at Transcorp Hilton…