Opinion article by Duke of Shomolu, Joseph Edgar
Femi Otedola has handled this whole matter with no respect for a man who has gone on air to say that apart from his wife, he was the only one he was following on Instagram.
Being put on that kind of pedestal where your only other partner is someone who has conjugal control over him must count for something.
Femi didn’t think along these lines, when he hung Tony out to dry some few weeks ago and didn’t stop at that but have come out with an acerbic explanation as reported by TheCable.
The last paragraph in the report shows his huge lack of respect for a man who can easily compete with Michael Jackson in the number of heads of state met and the number of red socks in the closet.
…stakeholders are unfortunately always shortchanged by getting stipends while the owners and managers of businesses live a jet set lifestyle, which is detrimental to the stakeholders.
This, to me, is a wonderful slap on Mr Elumelu. A massive beating, the type you reserve for a Lothario who has written a love letter to your 16-year-old virgin daughter.
Mr. Otedola has not shown any kind of respect for Mr Elumelu pulling the story from way back when he was seemingly back stabbed by Mr Elumelu- according to this report- making him lose his chairmanship of Transcorp in ways that were very far from transparent.
Femi had since then taken his time like the first wife of a polygamous man, waiting patiently for when his revenge blow would be more devastating, to attack.
Tony opened himself up to this. You can acquire a company any way you want as long as you didn’t point a gun at the person, but for a firm like Transcorp it then behoves on you to run it responsibly.
It was just yesterday that I said on two very influential WhatsApp groups – the BGL Alumni group and the Dukes Summit – when I saw photos of Mr Elumelu being handed one certificate by the VP, that as long as Mr Elumelu’s Transcorp was not paying requisite dividends and my brother Asuquo was still earning just N50,000 on his N700,000 investment in Transcorp that there is nothing Mr Elumelu will do to earn my respect.
It’s that simple, and as Mr Otedola has said, you can not be doing this. You just can’t be doing this.
The fact that the regulatory environment is comatose and that Nigerians are notoriously very laid-back with things like this does not now mean you should now ask 300,000 people to turn their backsides for you to sodomize at will.
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This should also sound a note of warning to the rest of you marauders. Those of you who take advantage of the system and ruin lives through mismanagement and outright pillaging of collective wealth to beware of the ‘ides of Otedola’.
I would have been much more caustic on this matter because of its implications on the markets and the lives of millions of investors, but have decided to thread very carefully because of the interventions of people I respect and who are close to Mr Elumelu otherwise, I would have called for his outright resignation.
But I’ll refrain from that just yet with the hope that he would see all of these as a unique opportunity to change his ways, reform Transcorp, instill strong corporate governance and much more importantly stop wearing those red socks abeg.
As for Mr Femi Otedola, that is one man with a long memory and with no respect for Mr Elumelu.
He is not his friend
*Duke of Shomolu*
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