Society Gists

Since his surprise buy over of billionaire Femi Otedola’s 75percent direct and indirect shareholding in Forte Oil’s downstream business, there had been a groundswell of speculations that the new owner, Alhaji Abdulwasiu Sowami, the managing director of Prudent Energy and Services, enjoys more than a personal relationship with the former Governor of Ogun State, Senator Ibikunle Amosun.

We can authoritatively reveal to you that Sowami has been fronting for Amosun for years. Amosun trusted him so well that he used him to buy over Forte Oil. While that is no sin, Sowami seems to be lending credence to the news making the rounds with the recent constitution of his board of directors.

He recently announced Sola Adeeyo, the chairman of AXA Mansard Insurance and Aniola Durosinmi-Etti, a director at Linkage Assurance as members of the board of directors. Adeeyo, a boardroom guru cum businessman, is the founder and CEO of Astral Waters Limited, a leader in quality water delivery. He is also the founder of Protea Hotel Oakwood Park, Lekki. Self-effacing Adeeyo is one of the closest friends of Amosun who is now a senator. Whilst they are rarely seen together in public, the former governor was said to be a frequent visitor to Adeeyo’s Wemabod Tower, Ikoyi, apartment.

Durosinmi-Etti is an experienced lawyer and director at Linkage Assurance Plc where she successfully piloted the company through landmark transformational phases of growth, among which were the Initial Public Offer in 2003 and a Public Offer in 2005.

Other members of the board are Aminu Umar, the founder and CEO of Sea Transport Services Nig. Limited, a refined petroleum product vessel owner and operator cum President of Nigeria Ship-Owners Association (NISA); Olumide Adeosun, the Chief Executive Officer; and Moshood Olajide, the Chief Financial Official. Their appointments took effect in June.

Effective June, Sowami took over Forte Oil, which has established presence in the 36 states of Nigeria and Abuja, operating a network of 500 retail outlets spread across the country and in Ghana, with major fuel storage installations at both Apapa (Lagos State) and Onne (Rivers State), an aviation joint users hydrant in Lagos, and joint aviation depots in Abuja, Port Harcourt and Kano, serving the aviation industry.

We hope their relationship would not end up like Senator Godswill Akpabio and Ernest Azudialu’s ill-fated relationship. Ernest the MD of Nestoil fronted for Akpabio for years before he swindled the former governor.

Source: themuckrakeronline.com