Ikoyi $43m Recovered Loot: Amaechi Sues FFK, Olayinka For Defamation


For being linked to the seized Ikoyi N13 billion, Minister of Transportation, Rotimi Amaechi, has issued a seven-day ultimatum to the former Aviation minister, Mr. Femi Fani-Kayode; and Mr. Lere Olayinka, the media aide to Governor Ayo Fayose of Ekiti State, to publicly apologise and pay the sum of N1.25 billion.

On the grounds of defamation on their twitter accounts, Amaechi through his lawyer, Prince Lateef Fagbemi (SAN), wrote to Fani-Kayode and Olayinka, warning that there would be stiff legal actions should Fani-Kayode and Olayinka fail to adhere to his demand for the alleged defamatory acts. Part of the letter to Fani-Kayode reads;

“The attention of our client has been drawn to your tweet posted on your twitter timeline (@realFFK) where you claimed that the $43 million is Rotimi Amaechi’s. He owns the flat it was found in (sic) too. NIA’s story is fake news! NIA does not keep cash in minister’s flats.

“In view of the foregoing and in the spirit of a second chance, we have our client’s (Amaechi) instruction to give you an ultimatum of seven days from the receipt of this letter to issue an apology in five national dailies on your twitter handle.”

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More so, Amaechi had in the copies of the two letters dated 14th April 2017 quoted other offensive aspects of Fani-Kayode and Olayinka respectively as:

“The Osborne Towers, a luxury residential complex in Ikoyi, Lagos, where EFCC said it found $43,449,987, 27,800 pounds N23,218,000 on Wednesday is owned by the Minister of Transportation, Rotimi Amaechi.

“The house was built by Alhaji Adamu Muazu, the former Chairman of PDP, through a loan from GTBank. He could not repay the loan. So, GTBank took over the house and allocated the penthouse to Muazu and two flats.

“Rotimi Amaechi bought TWO of the flats (7A and 7B). He then gave 7A to Mo Abdul, the TV presenter, who is suspected to be his girlfriend. But the flat where the money was found belong (sic) to Rotimi Amaechi. This is believed to be cash kept for 2019 elections. Let’s see how the cover-up game goes.”


Apart from the demand for an apology from the duo, which is to be published in five national dailies and their twitter handle, Amaechi specifically asked for the sum of N500 million from Fani-Kayode “as compensation for the malicious and defamatory claim.”

Amaechi further cautioned that the amount might increase should Fani-Kayode fail to address the situation as expected, while Olayinka was asked to also apologise in five national dailies and pay the sum of N750 million “as compensation for the malicious and defamatory claim” on his (Olayinka) twitter handle.

In reaction, Femi Fani Kayode, has said that he is not losing any sleep over the threat of legal action against him by Rotimi Amaechi.

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In a text message signed by his aide, Mr. Jude Ndukwe, FFK said his lawyers would respond to the claim anytime the minister forwards his letter to him, The Punch reports. The message reads:

“We have been inundated with calls concerning about a threat by Rotimi Amaechi to sue Chief Fani-Kayode for defamation over the 43 million USD issue.

“We are not any sleep over this matter. We have not received any court processes or letters from Amaechi but when we do so our lawyers will respond vigorously and appropriately. Thank you.”