A United States based business mogul,
Dr Oluleye Adigun has revealed that he is engaged in a process of acquiring the Fidelity Bank of Nigeria, saying he would invest about N3 billion ($6.8 million) through shares.
The Diaspora businessman man said he was ready to invest in the Nigerian economy, stating that the acquisition was a process of buying Fidelity bank which he said was almost completed.
He lamented that there was a delay in the deal due to COVID-19 pandemic, saying that the process was being pushed to completion now that things have returned to normalcy.
“The Fidelity Bank purchase is almost done. COVID-19 delayed the process a little due to everything closing down, but the process just picked up again. I was told I have to open a bank account and will need BVN. I am planning to come to Nigeria to do that as soon as possible.
Dr Adigun who hails from Osun State, South West Nigeria has business interest in real estate, Medicals, e-Commerce, Wind and Solar Energy expressed interest in diversifying into.tje banking sector and was willing to reposition Fidelity Bank into one of the best commercial retailing Bank in Nigeria.
He also has stakes in aviation, with four private planes, a technology company, which owns computer software/applications, and six clinics in the healthcare industry, disclosing that some business associates of his were already involved in the process of acquiring the Bank.
He said: “Mr. Peter Aletor, Managing Director for Apel Asset Limited, and a friend, Mr Tosin Afolabi, have been very helpful on it.
“Afolabi will be partner in my bank venture in Nigeria with small share,” he said of his foray into the Nigerian economy.
Adigun expressed willingness to bring his airline company, healthcare, technology as well as solar and wind energy to Nigeria in the future.
“I am interested in investing in Nigeria because it’s my father’s land. I believe there has to be a way of doing something in my own country and be successful in it.
“I have touched almost every industry here in the U.S. and very successful in it. I have done business with people in other countries like South African, Zimbabwe, Jamaica and Europe. I want to do same in my own country,” he said.
He added: “The Nigerian economy has great potential. Nigeria has everything to be giant in the world. We have the smartest people in Nigeria.
“With the right people, with great mind and good intentions, Nigeria can be like U.S. and other thriving countries. I need to build my own too. Nigeria is my home regardless of what I have here in U.S.”
He narrated how his previous efforts to purchase failing Polaris Bank in Nigeria was thwarted, on the grounds that he was not known in Nigeria and being an investor from Southern Nigeria.
Adigun described the experience as very horrible, saying that the task of building a greater Nigeria was a collective responsibility, which must be devoid of ethnic sentiment.
“When I decided to start investing in the Nigerian economy, I first heard of Polaris Bank. So, I decided to buy a failing bank and Polaris came up through my connections with CBN.
“I was connected to Mr. Peter Aletor who is coordinating with AMCO in buying 80 per cent shares of Polaris Bank and save it from closing. I was later informed by Mr. Peter that Polaris board members met and decided that they are not selling control of the bank to a Southerner,” he said.
