Femi Otedola clears air on Dangote Refinery funding

The chairman of First Bank Holding, Femi Otedola, has dismissed claims that he is part of the financiers of the Dangote Refinery.

He made this known in a statement he posted on his X account, Monday.
Recall that report had emerged that Otedola, chairman of United Bank of Africa, and Chairman of Globacom, Mike Adenuga, had financed the Dangote Refinery.

However, the Dangote Refinery at the weekend dismissed claims as false.
Reacting to the development, Otedola clarified that the purported claims are completely and utterly false.

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However, he said that he plans to request a special allocation to participate in the refinery’s forthcoming public offer in the Nigerian Exchange Limited.

“Let’s set the record straight:
“Reports claiming that Femi Otedola funded the Dangote Petroleum Refinery are completely and utterly false. He has not invested a single kobo, not one dollar, not one naira.

“The real story, which those peddling these lies conveniently ignore, is that Mr. Otedola has actually been requesting a special allocation to participate in the refinery’s forthcoming public offer.“I can categorically state that at no point did Alhaji Dangote request financing from Mr. Elumelu, Mr. Adenuga, and myself.

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“To those behind this: desist immediately… And to everyone else, social media is not a tool for manufactured drama. Nigeria deserves truth, not lies dressed up as insider information,” he wrote on X.