How Dangote and Otedola are using the Police to harass their competitors— SaharaReporters


A high-ranking source at the Department of State Security (DSS) has alleged that Dangote, and Otedola, recently used their perceived closeness President Buhari to instigate a widespread clampdown on businessmen in the oil sector. Dangote and Otedola, who
swiftly switched loyalty to Buhari as soon as he won the election, had used their influence to get the DSS to go after some of the 2 businessmen’s involved in shady oil marketing who are biggest competitors against them in the oil sector.

Both Dangote and Otedola have reaped huge profits as fuel marketers. Among the targets on the Dangote/Otedola list are oil marketers Benny Peters, Igho Sanoni and Tonye Cole. A source at EFCC told SaharaReporters that Dangote and Otedola had compiled a list of businessmen and approached EFCC to begin inviting them for interrogation over alleged financial crimes. He said EFCC refused to act on the list, deciding to wait for directives from the Buhari administration.

Miffed by the rebuff from the EFCC, Otedola reportedly contacted Ita Ekpeyong, the DG of the DSS, and handed him the list. Before last Saturday morning, DSS operatives had rounded up several people on the list and asked them to surrender their international passports. A source close to Buhari said Buhari had been briefed on the connivance between Otedola, Dangote and the DSS and that’s why Buhari issued that press statement on Saturday washing his hands off the harassments.

Dangote and Otedola are two of Nigeria’s most well-known and controversial moneymen who have parleyed their closeness to former Presidents Obasanjo, Yar’Adua, and Jonathan to build multi-billion fortunes. They were quick to visit Buhari to offer congratulations on his election, even though they were believed to have offered significant financial backing to former President Jonathan. They were huge beneficiaries from import waivers and dubious loan buy back schemes that helped catapult them to the rank of billionaires.

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