Connect with us

News and Report

EXCLUSIVE: ARM Pension MD, Wale Odutola in Land Grabbing Scandal!

Published

6 years ago

on

Controversy is just like an alter ego for this seasoned Portfolio Manager with extensive experience in research, and popular businessman, Wale Odutola. Today, the wealthy entrepreneur, who calls the shot at ARM Pensions, is again in the news for yet another wrong reason.
According to information available to SOCIETY REPORTERS, few months back a number of people and the men of the police stormed his Lekki Phase 1 house, protesting against what they called illegal acquisition of their land by Wale Odutola.
One of the protesters, who spoke to Society Reporters in disguise, accused the ARM PENSION MD of allegedly using his status and power to forcefully seize their land and already started erecting an edifice on it.
The drama, according to a reliable source all happened on 8th April, 2018 when residents started observing massive crowd in protest at the entrance of Wale Odutola’s Lekki premises, chanting and shouting different names which best described him as a fraudulent corporate player, alleging that this is not the first time such is happening.
According to the source, he has been summoned by the inspector general of police, and already answered to some questioning around same April 2018, when he had to travel to Abuja.
Another reliable source also hinted us that Wale Odutola’s late father, Chief Odutola was also allegedly involved in the same kind of mess and was severally alleged to be involved in the same land grabbing mess before his death.
“Wale Odutola is a hero of fraudulent corporate player, a trait he was alleged to have gotten from his late father which made people tag him as a true son of his father” the source spurts.
Adding that, “People gathered at his house, one of the choicest part of Lekki phase 1 on 8th April 2018 shouting and calling him to come out, before he later sneaked out to attend to interrogations with the police”. The source told Society Reporters while giving us the pictures taken from the scene.
Efforts to reach Wale Odutola to hear his side of the story all proved abortive as his MTN number we have wasn’t going through.
We will keep you informed as soon as we lay our hands on more details of his other dealings.
Wale Odutola is currently the Managing Director of ARM Pension Managers (PFA) Limited. Prior to this appointment he had served as the Managing Director of ARM Securities, ARM Properties Plc., as well as ARM Hospitality and Retail Fund where he was responsible for significant improvements in the businesses operating performance.

Wale has a B.Sc. Accounting degree from the University of Lagos and is an Alumnus of the Harvard Business School with over 18 years experience in the financial sector.

Related Topics:
Continue Reading
Advertisement

News and Report

Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

Published

9 hours ago

on

November 7, 2024

By

 

Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

Continue Reading

News and Report

Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

Published

22 hours ago

on

November 6, 2024

By

The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

Continue Reading

News and Report

Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

Published

23 hours ago

on

November 6, 2024

By

President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

Continue Reading

Trending