Billionaire businessman Femi Otedola has responded publicly following criticism from influencer Kenesgloww, who accused him of attempting to take control of Nestoil, a company linked to oil magnate Ernest Azudialu-Obiejesi.
Otedola, who serves as Chairman of FirstHoldco Plc, has been at the center of a legal and financial dispute involving First Bank and Nestoil over an alleged $1 billion debt. The bank had earlier pursued legal measures aimed at recovering the debt and asserting control over an oil asset linked to the company.
Although First Bank initially secured some legal backing, Nestoil later recorded a major court victory after the Supreme Court overturned earlier orders that had frozen its assets and directed security operatives to vacate its premises in Lagos.
The ruling sparked public debate online, with Kenesgloww, the daughter of the Nestoil chief executive, openly criticizing Otedola on social media. She accused him of attempting to control another person’s business empire and questioned his approach to wealth creation, sparking widespread reactions.
She further expressed confidence in her family’s business, stating that their success was built through hard work and dedication rather than acquisition of existing assets.
In response to the ongoing controversy, Otedola appeared unbothered, sharing a social media post showing him spending time in London with BUA Group founder Abdul Samad Rabiu. He described hosting the billionaire at dinner and highlighted their meeting in a lighthearted tone.
