Nigerian economist and politician, Pat Utomi, has accused former Ogun State Governor Ibikunle Amosun of causing a substantial financial loss of N100 million through interference with a Build-Operate-Transfer (BOT) agreement involving Ogun State Property Investment Corporation (OPIC).
Utomi’s accusations revolve around a BOT project initiated under the previous administration of Governor Gbenga Daniel.
Utomi alleged that Amosun’s actions not only sabotaged the project but also led to significant personal and financial damages.
Utomi’s revelation comes in the wake of a legal dispute between the Ogun State government and Zhongfu, a Chinese firm whose contract was revoked under Amosun’s administration.
This has resulted in a Paris court ordering the seizure of three jets belonging to the Nigerian government over an arbitration award in favour of the Chinese firm.
In a post on X, Utomi said, “So it was Gov Amosun’s violation of contract terms signed by his predecessor that brought the shame of seizure of jets from the Presidential fleet. I hope he is happy at his achievement.”
According to Utomi, this is typical Amosun, as he recounted his own personal experience, when Amosun halted agreements made by his predecessor Gbenga Daniel, including the OPIC lease deal.
“I had leased OPIC land in Lagos in a BOT agreement under Gov Daniel. Amosun stopped all such on being sworn in. I called him. He said he did not see my name on the list.”
He further explained, “I went to Abeokuta and he called in Yewande Amusan who said mine was a straightforward deal (and) they did not include it. He asked that all be included but mine be quickly sorted. That began a rigmarole that went on for years.”
Utomi further explained that during a meeting in Abeokuta, Amosun drove him back to Lagos and advised him to make a claim for N100 million out of the N200 million he had invested, and suggested he make additional claims later.
However according to Utomi, the matter remained unresolved, leading to extensive legal battles and financial loss.
He said despite his efforts, including appeals to then APC leaders Bola Tinubu and Chief Bisi Akande, and later Governor Dapo Abiodun, the matter remained unresolved, lamenting, “If this happened to Frieda I wondered what enemies were going through. I lost my weary SA partners who owned a successful regional chain across Southern Africa and Asia.”
However, in response, Amosun issued a rebuttal, defending his actions and challenging Utomi’s claims.
Amosun stated, “Before I came into office, the Ogun State House of Assembly had passed a personal non grata on Utomi and put its resolution in the state’s black book.” He recounted his investigation into Utomi’s claims as he said, “I was curious when I became governor and called Utomi to ask what the issue was. He, however, told me, amongst other things, that there was an ongoing construction in an Ogun State property that had become controversial.”
Mentioning that his team assessed the situation and found discrepancies, he asserted, “My team concluded he could not have spent more than N35m or at most, N50m on the construction as of then.” He accused Utomi of attempting to entrap his administration, explaining, “It was also obvious that what was being attempted was a move at ambushing the state government under my watch and presenting us with a Fait Accompli.”
Amosun then defended his offer of N100 million as a fair settlement, stating, “I committed to making a refund of N100 million as against his claim of N200 million.”
Amosun also criticised Utomi for allegedly using his Centre for Value in Leadership (CVL) to pressure him through awards, stating, “Utomi deployed his CVL through the instrumentality of an Award…But I did not change my position on the refund of N100 million as against his N200 million claim.”
However, Utomi in response to Amosun’s reply, challenged the accuracy of his financial assessment and the claim of a persona non grata designation. “Amosun has never called me. MTN can check the records,” Utomi refuted.
He reiterated that his investment was substantial and that Amosun’s actions caused severe financial damage. “When I followed up into the third year of back and forth he invited me back to Abeokuta…He then said 100m was the maximum OPIC could pay so I should accept 100m and write in with additional claim,” Utomi recounted.
The dispute between Utomi and Amosun underscores broader issues related to political transitions, investment integrity, and contractual obligations in Nigeria. The conflicting narratives highlight the complexities and challenges faced by investors dealing with shifts in political leadership and administration policies.
Ozioma Samuel-Ugwuezi
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