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Billioniares At War: Otudeko Drags Dangote To Court*** Seeks 48 Million Dollar Damages

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Oba Otudeko

Oba Otudeko

A billionaire war is presently on between chairman of Dangote Group Alhaji Aliko Dangote and chairman of Honeywell Group Limited, Oba Otudeko.

Information available to www.theoctopusnews.com, has it that businessman, Otudeko dragged Africa’s richest man, Dangote to a Federal High Court sitting in Lagos over a land conflict.

The duo are at loggerheads over ownership of 10.841square meters of land within the Lagos Ports Complex known as 5th Apapa Wharf Extension.

While Otudeko, through his company, Honeywell Group Limited, wants the court to declare him owner of the land by virtue of a lease agreement between the firm and the Nigerian Port Authority (NPA), Dangote is insisting that the agreement was neither turned into a deed nor registered in any land Registry.

Presently, Otudeko is alleging in a suit that Dangote and his company actually induced the NPA to break the initial agreements in respect of the disputed land.

The agreement between Otudeko and the NPA had seen the former paying the sum of N2.168 million per annum, in a deal that was to last for five years, while also following up with N290, 000 for the survey of the land. Otudeko is asking to be declared rightful occupant, while also asking for compensation to the tune of $48 million been the additional expenses required to build the bulk building facility which they intended to use the land for.

-Additional report Daily Independent Nig

Aliko Dangote

Aliko Dangote

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