Otedola’s reputation is being maligned due to his alleged involvement in a N54 Million sublease drama. Information gathered by TCM, revealed that the case, which was instituted in a Lagos High Court, has to do with a rented property belonging to Chief Bode Akindele.

We learnt that Otedola allegedly subleased a property belonging to Chief Akindele to Dr. Anthony Solomon, Managing Director of Pharmacare Limited, without the knowledge of the legitimate owner of the property.

Dr. Solomon, is currently alleging that Otedola got him to part with N54 Million to sublet the property to him under the pretence that he was the actual owner of the property.

Dr. Solomon’s grouse extends further, as he is also alleging that the sum of N45,000,000.00 was collected from him for the sub-lease of the property, while a paltry sum of N8,000,000.00 was what was paid to the owner of the property in question.

He is therefore asking the court to among other things mandate Otedola to pay him for “General Damages against the 1st defendant (Zenon Oil) in the sum of N50,000,000.00 for breach of contract; interest on the sum of N24,000,000.00 paid to the 1st Defendant which funds withheld by the 1st Defendant for 19 months at the rate of 21% per annum being loss of interest that would have accrued on the funds.