BREAKING NEWS: Femi Otedola Accuses Jim Ovia of Fraudulent Transactions in Zenith Bank Account

Billionaire businessman Femi Otedola has made serious allegations against Jim Ovia, the chairman of Zenith Bank. According to Otedola, Ovia unlawfully used the Zenith Bank account of Otedola’s company, Seaforce Shipping Limited, for trading in 2011 without Otedola’s knowledge or consent. The allegations involve unauthorized transactions running into billions of naira.

Despite Seaforce Shipping’s account not being operated since 2010, it continued to be used for trading, completely unbeknownst to Otedola. When asked for documentation to support the alleged loans, Zenith Bank reportedly failed to provide the necessary evidence. Otedola discovered these suspicious activities only recently, 13 years after the transactions, thanks to a whistleblower within Zenith Bank.

The bank statement revealed transactions totaling over N16 billion against Seaforce’s account from 2011 to 2024. Otedola questioned who made these payments and why the purported debt was reduced from N16.9 billion to N11 billion without his knowledge2. The matter is currently under investigation by the Force Criminal Investigation Department (FCID) of the police, and efforts are being made to resolve it amicably.

Stay tuned for further updates as this high-stakes financial dispute unfolds. Zenith Bank and Jim Ovia have yet to respond to the allegations publicly.

Source: Politics Nigeria