Nigerian oil tycoon Abdulwasiu Sowami completes acquisition of Ardova, pays Femi Otedola $19 million
In 2020, Sowami acquired a controlling stake in Forte Oil from Otedola’s Zenon Petroleum and Gas Limited.
Abdulwasiu Sowami
Nigerian energy mogul Abdulwasiu Sowami’s Ardova to delist from NGX
Sowami owns 74.1 percent of the oil marketing firm’s issued shares.
Nigerian billionaire Femi Otedola’s Zenon wins $19.2-million arbitration award against Ardova
Ardova reported a $8.93-million loss for the 2021 fiscal year.
Ardova dismisses winding-up order, as Femi Otedola’s Zenon serves majority shareholder petition over $6-million debt
The once promising relationship between Otedola’s Zenon and Abdulwasiu Sowami’s Prudent Energy has taken a new turn.
Nigerian billionaire Femi Otedola’s Zenon Petroleum takes Ardova to court over $6-million debt
The winding-up petition adds to the pressures on Ardova and its majority owner.
Abdulwasiu Sowami’s Ardova finalizes acquisition of Nigeria’s largest downstream oil group
Ardova is now Nigeria’s largest indigenous publicly-listed downstream energy group.
Ardova moves to acquire Tunde Folawiyo’s Enyo
The Nigerian oil company Ardova has announced plans to acquire Enyo.