Foremost Nigerian businessman, Mr. Femi Otedola has finally opened up on the 16million dollars debt his company, Zenon Oil is allegedly owing NNPC. The Epe, Lagos State born business mogul explained that his companies; Zenon Petroleum Oil Plc. and Fineshade Energy Ltd. have an existing mutual-beneficial commercial relationship with the Petroleum and Pipelines Marketing Company (PPMC) across products lines and the two companies have been meeting their obligations to the PPMC.

He added that the companies have had several meetings with PPMC on the said 16million dollars debt with the aim of resolving the matter amicably. Besides, he said the matter has been reported to the Economic and Financial Crimes Commission (EFCC) since April 2013 and it’s under investigation by the anti-graft agency. The highly respected businessman revealed that the companies are hoping that the ongoing EFCC investigation would provide documentary evidence to prove that they acted in good faith and for the alleged debt issue to be resolved amicably. The international acclaimed businessman made this revelations through his lawyer, Babajide Koko & Co.