He made a 250 billion Naira deal to purchase Transcorp, but it was declined.
Elumelu is charged by Otedola with previously stabbing him in the back.
The billionaire and businessman from Nigeria, Femi Otedola, has talked openly about his friendship with Tony Elumelu and his involvement with Transcorp. Otedola has officially clarified the matter after considerable conjecture in the Nigerian business sector surrounded his recent sale of Elumelu of his 6.3% interest in Transcorp.