Paddy Adenuga slams Quartz Africa for linking his Chevron acquisition story to his father’s debt

Quartz Africa has linked Paddy Adenuga's approach to the purchase of the Chevron plant in the Netherlands to the debt of his father, Mike Adenuga, to AMCON. This comes after the billionaire son revealed that he was close to buying Chevron Netherlands, but eventually lost the offer.
The publication by the African Business Journal stated that Mike Adenuga had turned out to be a debtor of AMCON, among others, by a newspaper a few years ago. The asset management company of Nigeria ("AMCON"), according to Quartz Africa, is the "bad bank" created in 2010 to stabilize the Nigerian banking sector after encountering all kinds of difficulties in obtaining loan credits.

Since Paddy Adenuga published the promised article on how he came close to buying the Chevron facility in the Netherlands without the help of his family, he has faced a lot of criticism.
Rather than Nigerians pulling motivation from its history, some Nigerians have come out to criticize the billionaire son, one of whom is Media Personality Shade Ladipo. Shade Ladipo thinks it's completely ridiculous for him to say that he almost bought Chevron if he had not used his father's name ...

Excerpt from the journal’s publication read;
‘The best thing about Paddy Adenuga’s story is that he did not win the bid. Indeed, Adenuga senior was revealed to be a debtor to AMCON, among others, by a newspaper a couple of years ago. The last time AMCON published a list of its top 100 debtors, the top three were all oil and gas companies with close to $1 billion outstanding among them. All of them taken out in the heady days of $100 oil and aggressive assumptions about how much money it was possible to make’.

 

However reacting to this, Paddy Adenuga tweeted;

‘The @qzafrica article’s attempt to tie my chevron NL acquisition with AMCON is dangerous, ill-informed, and a case of poor journalism. i’d never use Nigeria’s tax payer money for a private European deal – NEVER! i’m open to criticism – i am just not open to lies and falsehoods’.

  

Räägi sõbrale... #AFRICA ... spill TEA ABOUT THE TOPIC ABOVE.... Easy on Shade #jaiyeorie