Otedola VS Elumelu: Billionaire beefs -
The captivating story of Femi Otedola, the oil and business magnate, continues to unfold with unexpected twists and turns,After exposing the corruption of a prominent politician and engaging in a battle with Africa’s wealthiest man, Otedola now finds himself in the midst of a new scandal. His bold attempt to regain control of Transcorp, a major investment conglomerate in Nigeria, has been thwarted by his rival, Tony Elumelu.
Having quietly acquired shares in several companies, Otedola ultimately succeeded in becoming the largest individual shareholder of Transcorp. His primary target was the Ughelli Power Plant, previously acquired by Transcorp from the Nigerian government. However, his victory was short-lived. Elumelu, sensing Otedola’s intentions, swiftly increased his stake in the group and ultimately gained control of Transcorp.
This unexpected turn of events sparked a verbal war between the two businessmen. Otedola accused Elumelu of stealing his ideas and shares in other companies. Tensions are running high, and no one knows how this confrontation will ultimately unfold.
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