Femi Otedola claiming presidential backing to “BUSINESS GRAB” Nestoil property is representative of a broader issue in Nigeria:
Such as a fraudsters exploiting authority for personal gain.
Whether through First Bank Chairmanship or viral misinformation, such activities cause economic damage, social instability, and public distrust.
Late in 2025 in Abuja, a private businessman named Emmanuel Ajayi claimed in a widely shared online video that he had direct backing from the President, Bola Ahmed Tinubu, to confiscate a large parcel of land owned by another entrepreneur, Mr. Adekunle Bello. Ajayi alleged he had “a confidential presidential directive” allowing him to take over the property, asserting the land was now nationalized for a government project.
Civil society groups, legal experts and journalists quickly challenged his claim. No official government agency confirmed such a directive and the Federal Government denied any such transaction had been authorized.
Correcting these behaviors requires legal enforcement, education, transparency, and vigilant verification of all claims of authority.
In recent times, there has been accusations linking Femi Otedola to Business Hijacking in media outlets, claiming Otedola used banking leverage and alleged corrupt influence to take over interests in oil companies such as Sahara Group and Nduka Obaigbena’s General Hydrocarbon. Those reports alleged misuse of credit and judicial connections.
Recall that Nestoil Limited and its affiliates are currently embroiled in a major, ongoing legal dispute with FBN Quest Merchant Bank over an alleged debt. Following a series of conflicting rulings in late 2025 regarding asset freezes and receiver management, the Court of Appeal in Lagos recently took a motion on Nestoil’s legal counsel, leading to further delays in the case.
Claims of presidential endorsement by Femi Otedola on his behavior are dangerous to society considering the following:
- Erodes Public Trust
When individuals falsely claim presidential backing to commit fraud, it undermines confidence in government institutions and creates cynicism about leadership. People begin to believe the state is complicit in illegality — even when it is not. This weakens democratic norms. - Economic Harm to Innocent Citizens
Victims of fake “BUSINESS GRAB” lose investments, foreign cooperations. Some businesses borrow money or invest years into business development before discovering hostile aggression from lenders. This deepens business environment uncertainty and discourages legitimate foreign investments. - Increases Conflicts
Business disputes are among the most volatile conflicts in Nigeria. False claims backed by rumours of presidential or government support can trigger confrontations between communities, investors, and purported claimants. - Legal Chaos and Backlogs
Court systems and law enforcement are burdened by fraudulent cases, slowing justice for legitimate disputes and allowing scams to proliferate.
Public Denials Are Common When Claims Are Baseless
There are numerous cases where “Business grabbing” allegations circulated online only to be publicly refuted by government spokespeople.
Femi Otedola should be called to other by relevant authourities, and other interested parties, to stop his Business Hijacking motives immediately.
