Billionaire businessman Femi Otedola has reacted indirectly to criticism surrounding his legal dispute with Nestoil by sharing a social media post showing him hosting fellow billionaire Abdul Samad Rabiu in London.
The development comes days after influencer Kenesgloww, daughter of Nestoil founder Ernest Azudialu-Obiejesi, publicly criticised Otedola over First Bank’s debt recovery efforts against the oil and gas company.
Nestoil Legal Battle Draws Public Attention
The dispute stems from attempts by First Bank, under the leadership of FirstHoldco PLC Chairman Otedola, to recover an alleged $1 billion debt owed by Nestoil and its subsidiary, Neconde.
The bank initiated legal proceedings aimed at enforcing debt recovery and securing control over the OML 42 oil block.
However, Nestoil recorded a major legal victory after the Supreme Court reportedly set aside previous orders freezing its assets and directed police operatives to vacate the company’s Lagos headquarters.
Influencer Criticises Otedola
Following the court ruling, Kenesgloww took to social media to criticise Otedola, accusing him of attempting to take over a business built by her father.
In a series of posts, she questioned the billionaire’s business record and argued that genuine success comes from building enterprises from the ground up rather than acquiring what belongs to others.
Her comments generated widespread reactions online as supporters of both businessmen weighed in on the controversy.
Otedola Shares London Dinner Photo
Amid the debate, Otedola appeared unfazed by the criticism as he shared a photograph of himself with Abdul Samad Rabiu in London.
In the post, he described Rabiu as his neighbour in London and one of the wealthiest Black men in the world.
“Yesterday evening my honour to have the 2nd richest black man in the world (and my London neighbour) over for dinner. The one and only Abdul Samad Rabiu,” Otedola wrote.
The post quickly attracted reactions from followers, many interpreting it as his first public response since the controversy gained attention.
Debt Recovery Efforts Remain a Key Issue
The dispute between First Bank and Nestoil has remained one of the most closely watched corporate battles in Nigeria’s oil and financial sectors.
Industry observers note that the case gained prominence due to concerns over the impact of non-performing loans on First Bank’s financial position and the significance of the assets involved.