Home Business Femi Otedola confronts Jim Ovia, expose ‘Shady transactions’ in Zenith Bank

Femi Otedola confronts Jim Ovia, expose ‘Shady transactions’ in Zenith Bank

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A multibillion-naira fraud allegation between billionaire Femi Otedola and Zenith Bank’s chairman, Jim Ovia, has escalated

Femi Otedola confronts Jim Ovia, expose ‘Shady transactions’ in Zenith Bank account

Femi Otedola accuses Zenith Bank of unauthorized trading in his company, Seaforce Shipping Limited’s account, without his knowledge or consent since 2011.

Despite the account being dormant since 2010, transactions totaling over N16 billion were recorded between 2011 and 2024.

Femi Otedola discovered the suspicious activities through a whistleblower and has petitioned the police, who are investigating. Zenith Bank has failed to provide documentation supporting the alleged loans.

A senior bank official has been questioned, and a federal high court has granted an injunction restraining Zenith Bank from trading with shares or paying dividends until the matter is resolved.

The dispute is ongoing, with both parties seeking a resolution.

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