These are not the best of times for Oando boss, Wale Tinubu as he is currently fighting the battle of his life. Insiders squealed to us that billionaire businessman, Gabriele Volpi, founder of Intels Nigeria Limited who borrowed the Oando boss 80million dollars has declared war on him.

Also, Gabriele Volpi wants Wale Tinubu and the board of Oando Plc. sacked over alleged mismanagement. Gabriele Volpi who is also the boss of Ansbury Investments Inc. has written a petition to the Securities and Exchange Commission (SEC) seeking to stop Oando from holding its Annual General Meeting (AGM) slated to take place in Uyo, Akwa Ibom State on September 11

Gabriele Volpi through Ansbury invested about $700 million in Ocean and Oil Development Partners Limited (OODP BVI), registered in the British Virgin Islands acquired 61.9 per cent stake in OODP BVI and a company owned by Tinubu, Withmore Limited held 38.10 per cent of the stake in OODP BVI.

However, Gabriele Volpi is now shouting on the rooftop that he lent Wale Tinubu $80 million to enable Withmore Limited acquire the 38.10 per cent stake in OODP BVI. He revealed that Tinubu had approached him to invest in OODP BVI when Oando Plc was seeking to acquire ConocoPhillips’ upstream oil and gas assets in Nigeria for $1.5 billion in 2014.

For those who don’t know, OODP BVI owns 99.99 per cent of the shares of Ocean and Oil Development Partners Nigeria Limited (OODP Nigeria), which holds 55.96 per cent of the shares in Oando Plc.

Gabriele Volpi is now claiming that Ansbury owned 100 per cent of the shares of OODP BVI and 99.99 per cent of OODP Nigeria since Withmore Limited cannot pay the $80 million loan, it has reduced Wale Tinubu and Mofe Boyo’s interest in Oando Plc to 1.2 per cent.

Ansbury is alleging that Oando is in a very bad shape, despite the official financial communications from the company to the contrary. Gabriele Volpi is calling for the sack of Wale Tinubu, Mofe Boyo and the board of directors.