NewStats: 3,259,489 , 8,170,293 topics. Date: Sunday, 25 May 2025 at 09:37 AM t1i4p

Response to Obaigbena’s smear campaign
by Femi Otedola.

My attention has been drawn to articles published by ThisDay (on Thursday, January 9 and Friday, January 10, 2015), clearly instigated by Mr. Nduka Obaigbena, filled with baseless allegations aimed at smearing my reputation. It is unfortunate that Mr Obaigbena has resorted to such tactics simply because he has been asked to repay his $230 million loan.

This loan, facilitated with the help of the former Central Bank of Nigeria Governor, Mr Godwin Emefiele, was purportedly for the operation of an oil block which he obtained without competitive bidding.

However, the funds were diverted for personal use-funding Mr Emefiele’ presidential aspirations, acquisition of luxury properties abroad, the operation of a private jet, and an extravagant $68 million spent on jet rentals in just four years. Mr Obaigbena’s profligacy is well known, as is his penchant for using his media platforms to blackmail and silence those who hold him able.

As Chairman of First Bank Holdings, my primary responsibility is to protect the interests of the bank’s shareholders and depositors. The actions initiated in the courts are necessary to recover funds that belong to depositors and ensure corporate governance.

Mr Obaighena’s penchant of blackmailing people to escape ability must end, especially when depositors’ money is at stake. My commitment to upholding the integrity of the financial system and protecting depositors outweigh any cheap attempts at blackmail.

Let me remind the public that my integrity is not in question. As Chancellor of Augustine University and a benefactor of Save the Children Fund, I continue to dedicate my wealth to noble causes. I will not allow unscrupulous elements to derail the efforts of First Bank to recover loans or jeopardize the financial security of our shareholders.

To all stakeholders, I assure you that I remain steadfast in my mission to protect First Bank’s integrity and ensure its continued success. Media blackmail will not deter me from this responsibility.

-Femi Otedola

https://www.theconclaveng.com/femi-otedolas-adumbrated-response-to-nduka-obaigbenas-extensive-smear-campaign/

Mynd44 nlfpmod

" To all stakeholders, I assure you that I remain steadfast in my mission to protect First Bank’s integrity and ensure its continued success. Media blackmail will not deter me from this responsibility."

This is the koko.
Hopefully, EFCC will respond to the serious allegations in the report.

Chai!

na how to pay be the koko now, why pay $68million on Jet Rentals when you can get a Gulf Stream G500 for less .. Both of you should stop using Oga Emefiele's name, he has is own battles he is dealing with .

Media war will not work in this particular case.

Bank loans are not Esusu

Obaigbena must pay the loans he likes it or not

Emefiele deliberately led people to the slaughter's slab. Imagine a owner of a TV station used depositors fund for lavish lifestyle and then use his platforms to hail Emefiele and commend his policies, thereby misleading the followers of his media platforms. The economic crisis Emefiele has caused, it will take 100years jail to rectify it.


-Kiss the truth!

This one APC bot has rush to comment I daught if this post is made in good faith

Does it mean first bank Nigeria is standing on shaky shiki legs

Emiefele did us a lot of damage and such man should never be trusted with power again. If he had won the Presidency, Abachas looting would have being a child's play compared to what this thief would have done.

Obaigbena's cup don full

Mr. Nduka Should just pay back the loan make everybody get peace..

This table go over shake ooo, this one otedola was specific with names and events, get me my popcorn.
I love boardroom fights, e no be like party fight wey dey always be unknown source or 3rd party fight, na face to face fight

Mess with Femi Otedola, son of former Lagos Governor, Pa Michael Otedola and you will land in 💩 💩 💩

Nduka, you will be dealt with. Don't say you weren't warned.

Ask Farouk what we did to him.

Mafioso. Don't mess with a made man. La Cosa Nostra.

Make all these Onigbese pay their debts Abeg

✅

Arise vs Presidency

Arise vs Man of The Year

Arise vs Otedola

Guccho:
Emiefele did us a lot of damage and such man should never be trusted with power again. If he had won the Presidency, Abachas looting would have being a child's play compared to what this thief would have done.

Thank Heavens we also escaped his brother The Agulu Masquerade, Mr Know Everything’.

AdolfHitlerxXx:
Mafioso. Don't mess with a made man. La Cosa Nostra.

FBNH will confiscate Arise TV & This Day Newspaper.

buckeyemedia:
FBNH will confiscate Arise TV & This Day Newspaper.

Doesn't work that way. These are separate entities from the oil company

layzie:


Doesn't work that way. These are separate entities from the oil company

Are they not both the exclusive assets of Nduka Ogbabeina?

Criminal defamation law is for poor people

E be like Otedola evidence plenty o

bamasite2:
E be like Otedola evidence plenty o

As it ought to be

Otedola always plays clean and he’s a very straightforward person. Despite being open and friends with Elumelu, the latter tried to outwit him but God has always been on his side

Nduka has always been known for things like these and this will be his last

buckeyemedia:
Are they not both the exclusive assets of Nduka Ogbabeina?

U tell me. Have you seen the CAC documents of the companies?

layzie:


U tell me. Have you seen the CAC documents of the companies?

I want to believe This Day is already been controlled by a consortium of Banks, no be today Nduka done dey borrow money, the first 4 pages of this day are permanently used to pay banks back their money.

E surprise me say FIrst Bank fall Mugu, still go give uncle $260 million.

The officials of first bank that he conspired to collect the facility are no more there, it is new management & First Bank Plc want their money.

Rufai oseni will you comment on your oga doings?

Otedola took loans too he didn’t repay all with Amcon. A lot was written off for him.

Obaigbena too is know for chopping all his money and not paying his workers their salaries. An article was on naira land a few days ago about a radio station that has not paid salaries for 9months. Obaigbena has owed his staff for more than 9months in some instances in his company.

Since you all know he chopped the money with the aaCBN governor Emefiele, you have to pursue Emefiele for the part he ate and for facilitating the loan as the foremost central banker who most of the banks had to be beholden to to keep thier jobs.

Write off what needs to be written off just like it was done for Otedola too in the past when he went broke during the 2008/2009 economic downturn, and let Obaigbena repay the part he ate

None of them is a saint. Otedola has been implicated in the subsidy scandal that landed a house of rep member in jail while probing Otedola who set him up with a bribe.

Few big business men exist who have not taken bank loans. Even Dangote was listed among AMCON defaulters at one time. Pay up you debts. Na poor man dey suffer dey gather money and these guys just borrow and never pay back and they suddenly become billionaires tomorrow.

Even yahoo boys are learning work

Breeze don blow fowl yansh yakata! Three names have featured so far - obiagbena, otedola and emefiele. Before now did you know that these guys were shaking hands under the table with first bank depositors' money? The banks, politicians and crooked business people have ruined this corn3.

ThisDay Man of the Year Award was clearly not given to Tinubu because ThisDay felt he deserved it. It was probably to tie the president's hands towards the looming war between a media champion and a ruthless businessman. This is because the regulator would get involved and assets may likely be seized to compensate for what is owed.

E don clear say that award was to curry favour of someone. I had written that the award was in bad taste, unethical and should have been rejected.

Events have played out within two weeks.

Anytime Femi Otedola coughed, Ojy Ope reported it in her segment. Anytime Otedola danced with his children, they reported it. The Arise News crew praised him to high heavens. Was Arise News Otedola's media manager?

TheNation newspapers awarded Otedola investor of the year, an award I find unethical. Was this award made because Otedola had a falling out with his former media partners?

If this fight had not blown up, would we have known that the former Arise MD was one of the Executive Directors of a First Bank subsidiary? When the appointment was made, how come even Arise News/ThisDay, notorious for praisesinging wealthy people, did not celebrate the elevation? To be a non-executive director, the nominee is expected to be representing the interest of someone with enough shares to earn a sit on the table.

Who owns those shares?

Why always you, Sir? This is why media owners need to face their media business and do it ethically and according to standards. When they dabble into politics, business and financial deals where they have no competence, it leads to brickbats.