Shallipopi, Odumodublvck & Femi Otedola: Net Worth, Careers, and Controversies

Paul | January 22, 2024 | Nigeria | No Comments

Crown Uzama, professionally known as Shallipopi, is a Nigerian rapper, singer, and songwriter who gained widespread recognition in 2023 with the release of his single “Elon Musk.” The track reached the pinnacle of success, securing the number one spot on the Nigeria Top 100 Apple Music chart. Building on this achievement, Shallipopi released his debut studio album, “Presido La Pluto,” in the same year. The album not only claimed the top position on the TurnTable Top 50 Albums but also reached the fifth spot on the Apple Music Top 100 Albums chart.

Shallipopi’s estimated net worth falls within the range of $80,000 to $150,000, primarily generated through earnings from music streams. As of 2023, Shallipopi is 23 years old, with his birthdate recorded as April 12, 2000.

MUSIC CAREER

Shallipopi’s journey in the music industry began long before he gained prominence in 2023. Like many musicians, he initially started by creating and sharing covers of popular songs, along with freestyles, on his various social media platforms.

His breakthrough into national fame occurred with the release of his street-pop hit, “Elon Musk,” which quickly went viral in the country. The song addressed the theme of “Internet Fraudsters,” subtly conveying messages related to the practice. On June 30, 2023, Shallipopi dropped the remix of “Elon Musk,” featuring renowned Afrobeat sensations Fireboy DML and Zlatan Ibile, a version he personally favors over the original.

Continuing his momentum, on July 7, 2023, Shallipopi released another single titled “Ex Convict,” referencing his arrest by the EFCC. The song achieved chart-topping success, reaching number 6 on the Turntable Top 100 during its release.

Further solidifying his presence in the industry, Shallipopi unveiled his debut studio EP, “Planet Pluto,” on July 11, 2023. In October 2023, he took a significant step by announcing the establishment of his record label, “Plutomania Records,” and introduced two acts to the label—his brother, “Zerrydl,” and “Tega Boy DC.”

In November 2023, Shallipopi released his debut studio album titled “Presido La Pluto,” translating to “Pluto Presido.” However, the album received mixed reviews and was perceived as a commercial disappointment.

EFCC Charges

On May 30, 2023, Shallipopi, along with other members of his crew, was arrested by the Economic and Financial Crimes Commission (EFCC) for their involvement in internet fraud activities. Following their conviction on June 23, 2023, Shallipopi and his crew received a two-year prison sentence. However, they were given the “Option of Fine,” the outcome of which is not explicitly mentioned.

Copyright Charges

Shallipopi was entangled in legal issues once again, this time he faced a copyright infringement lawsuit from veteran Edo Highlife musician Pa Monday Edo. Legal documents circulating online reveal that Pa Monday Edo is sued Shallipopi, seeking restitution and compensation of N200 million for allegedly using his sound, stems, and lyrics without permission. The lawsuit underscores the challenges Shallipopi is currently facing in the realm of copyright, as he navigates the legal consequences of his artistic work.

Plutomania Records

Shallipopi, who was formerly signed to Dvpper Records, launched his own record label in October 2023, named “Plutomania Records.” The label’s debut coincided with the introduction of two artists, Shallipopi’s brother, Zerrydl, and Tega Boy DC.

Odumodublvck and Why he referred to Davido as a “Fool”

Tochukwu Gbubemi Ojogwu, born on October 19, 1993, widely known as Odumodublvck, is a Nigerian rapper, singer, and songwriter. Renowned for his captivating stage performances, genre-blending abilities, and frequent portrayal of Okpu Agu, Odumodublvck is a notable member of the hip-hop collective Anti World Gangstars. Currently based in Abuja, Nigeria, he is rapidly gaining recognition as a rap sensation in the Afro music industry.

In 2022, Odumodublvck inked a record deal with NATIVE Records in collaboration with Def Jam. His debut single under NATIVE, titled “Picanto,” featuring ECko Miles and Zlatan, was released on November 23, 2022. The track marked his first appearance on the Nigeria Top 100 chart, entering at number 79 and later reaching number 65. Notably, on January 23, 2023, he secured the fourth position on TurnTable’s NXT Emerging Top Artistes. In 2023, Def Jam Recordings entered into an exclusive deal with Odumodublvck coinciding with the launch of his EZIOKWU mixtape.

Music Career

In 2022, Odumodublvck collaborated with B.O.C Madaki on a joint studio album titled “The Drop,” and shortly thereafter, he released a subsequent single named “Picanto,” featuring ECko Miles and Zlatan. The single made a notable debut on TurnTable Bubbling Under Top 100 at number 8 and secured the 15th position on the Nigeria Hip-Hop/Rap Songs chart on November 21, 2022. Later, on November 28, 2022, “Picanto” entered the Top 100 chart at number 79 and claimed the 44th spot on Nigeria Radio. The track also reached Number 6 on the Nigeria Hip-Hop/Rap Songs chart.

Odumodublvck showcased his talents at the Jameson Connects concert in Abuja on March 26, 2022, alongside DRB LasGidi and Victony. His achievements were further recognized when he won the Next Rated Artist category at the Galaxy Music Awards on December 8, 2022, receiving a new Lexus IS 350 as part of the prize. Additionally, he was announced as part of the lineup for the Vertical Rave concert opening acts on December 9, 2022.

In March 2023, Odumodublvck released a new single titled “Declan Rice” on Friday, March 24, shortly after surviving a life-threatening surgery. The track earned him his first top 10 entry on TurnTable’s official Nigeria Top 100 Songs chart, securing the 8th position on March 27, 2023. Furthermore, “Declan Rice” claimed the number 1 spot on TheCable Lifestyle airplay chart on April 1, 2023.

The song became associated with West Ham United captain Declan Rice, who expressed his excitement as Nigerians chanted his name thanks to Odumodublavk. On July 15, 2023, Arsenal announced the signing of Declan Rice using Odumodublvck’s song in the background.

Controversy

In a recent social media incident on the X platform (formerly known as Twitter), singer and rapper Tochukwu Gbubemi Ojogwu, professionally known as Odumodublvck, sparked controversy by referring to his senior colleague, David Adeleke, popularly known as Davido, as a fool.

This unfolded after Odumodu, who had recently visited Arsenal’s Emirates Stadium, shared old music lyrics on his X handle on Monday, December 11, in which Davido appeared to insult media mogul Dele Momodu with lyrics about Mr. Dele being his boy.

In his tweet, he wrote, “MR DELE NA MY BOY. DELE NA MY BOY. IS ONE OF THE HARDEST LYRICS I HAVE EVER HEARDDDDD. @davido YOU BE FOOOOOL. SO SIMPLE BUT HARDDD.” Odumodu’s tweet stirred intense reactions, with some accusing him of disrespecting both Davido and Dele Momodu.

Femi Otedola: Net Worth, Businesses, and Controversies

Olufemi Peter Otedola, born on November 4, 1962, is a Nigerian businessman and philanthropist. He served as the former chairman of Forte Oil PLC and currently holds the position of executive chairman at Geregu Power PLC.

Femi Otedola is renowned as the founder of Zenon Petroleum and Gas Ltd and has diversified business interests in shipping, real estate, and finance. Notably, he has recently ventured into power generation as part of Nigeria’s sector liberalization.

Born in Ibadan, the capital of Oyo State, Nigeria, Femi Otedola is a member of the family of the late Sir Michael Otedola, who served as the Governor of Lagos State from 1992 to 1993.

In his personal life, Otedola has a daughter named Tolani, who is a singer from his previous relationship with Olayinka Odukoya. Later, he married Nana Otedola, with whom he has two more daughters—Florence Ifeoluwa and Elizabeth Temi—and a son named Fewa. Florence Otedola, also known as DJ Cuppy, is a DJ, music producer, and a tourism ambassador for Nigeria. Temi, Femi’s younger daughter, is an actress, style blogger, and aspiring designer.

Femi Otedola’s residences span across Lagos, Abuja, Dubai, London, and New York City.

Otedola Petroleum and Gas Ventures

ZenonIn Petroleum and Gas Ltd: 2003, Femi Otedola seized an opportunity in the fuel retail market and established Zenon Petroleum and Gas Ltd, a company focused on marketing and distributing petroleum products. As the owner and chairman of Zenon, he invested N15 billion in downstream infrastructure development in 2004, acquiring storage depots at Ibafon, Apapa, and four cargo vessels, boasting a combined storage capacity of 147,000 metric tons. Additionally, a fleet of 100 DAF fuel-tanker trucks was acquired for N1.4 billion in the same year.

By 2005, Zenon had a significant market share in the Nigerian diesel market, supplying fuel to major manufacturers such as Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle, and Guinness.

In March 2007, ten banks approved a syndicated loan of US$1.5 billion (N193.5 billion) to Zenon as working capital for building the largest premium motor spirit storage facility in Africa. Zenon also acquired a 28.7% stake in African Petroleum later that year. Furthermore, the company became a major player in the kerosene market.

In 2012, Zenon faced allegations of involvement in a fuel subsidy scam, with reports indicating a debt owed to the government of $1.4 million. Femi Otedola was implicated in a bribery scandal, where it was reported that a legislator, Farouk Lawan, had accepted $500,000 from Otedola to remove Zenon from the list. However, it was revealed that Otedola had reported Lawan’s harassment and bribery demands to the State Security Services, leading to Lawan’s subsequent charge with corruption in February 2013.

Africa Petroleum: In 2007, Femi Otedola assumed the roles of chairman and chief executive at Africa Petroleum after acquiring a controlling stake in the company. Later that year, he personally acquired an additional 29.3% of the company for N40 billion. With the merger of this personal holding and Zenon’s, Otedola’s overall stake in Africa Petroleum reached 55.3%.

Otedola’s involvement resulted in a substantial increase in Africa Petroleum’s share price, elevating the market capitalization from N36 billion to N217 billion within six months. In 2008, responding to public concerns about the availability and pricing of kerosene, Africa Petroleum initiated a campaign to saturate the market and sell fuel at N50 per litre through more than 500 service stations across Nigeria.

By March 2009, Otedola became the second Nigerian, following Aliko Dangote, to be featured on the Forbes list of dollar-denominated billionaires, with an estimated net worth of $1.2 billion. In October 2009, he announced plans to upgrade Africa Petroleum’s liquefied petroleum gas (LPG) storage terminals in Lagos, Kano, and Port Harcourt. However, the challenging economic conditions resulting from the global oil price slump and the credit squeeze of 2008–09 led Africa Petroleum to record a loss in 2009.

In December 2010, African Petroleum underwent a rebranding initiative, changing its name to Forte Oil PLC. Femi Otedola executed a restructuring of the business during this period, emphasizing technology and enhanced corporate governance. As a result, Forte Oil returned to profitability in 2012.

Forte Oil: In 2013, aligning with the Federal Government’s efforts to liberalize Nigeria’s struggling power sector, Otedola provided 57% of the financing for Forte Oil subsidiary Amperion Ltd. This subsidiary acquired the 414 MW Geregu Power Plant for $132 million.

Forte Oil’s financial turnaround and expansion into power generation led to a remarkable 1,321% surge in its share price in 2013. The first half of 2014 witnessed a year-on-year pre-tax profit increase of over double, reaching 4.19 billion naira ($25.7 million). The company’s revenue growth for the entire year was 33%. In November 2014, Otedola reappeared on the Forbes rich list after dropping off in 2009 due to a decline in share prices.

In September 2015, Forte Oil sold 17% of its equity to Swiss commodity trader Mercuria Energy Group, providing Forte Oil with access to global commodity markets. This deal was estimated to have given Otedola about $200 million. In 2019, Femi Otedola divested from Forte Oil Plc and announced his intention to shift his focus from oil to power with his company, Geregu Power Plc.

Controversies Surrounding Femi Otedola

Bribery and Corruption (2012): Femi Otedola was accused of giving a $620,000 bribe to Boniface Emenalo and Farouk Lawan, who chaired the House Committee on Fuel Subsidy Regime. The alleged motive was to remove his company’s name from the list of firms indicted for abusing the fuel subsidy regime. Both individuals faced charges of bribery, with evidence including a video of Otedola giving a bribe and Lawan accepting it. Boniface Emenalo later admitted guilt.

Canadian Escorts (2016): Otedola became involved in a controversy when two Toronto-based sisters attempted to extort him by cyberbullying and blackmail, claiming they had evidence of him cheating on his wife. The sisters disputed Otedola’s account, acknowledging a relationship but denying engaging in blackmail or demanding gifts.

Femi Otedola’s Billionaire Status:

Femi Otedola has risen to the fourth position on Nigeria’s list of billionaires, with a current valuation of $1.2 billion, according to Forbes.
His ownership of over 70% of Geregu Power, a power generation business, is a significant factor in this reassessment.
In 2022 and 2023, Otedola strategically reduced his Geregu stake from over 95%, attracting institutional investors into the business.
Key investors in Geregu include the Afrexim Fund for Export Development in Africa, the State Grid Corporation of China, pension funds, and institutional investors.
Besides energy ventures, Otedola holds substantial real estate assets in Lagos, Dubai, London, and Monaco. He also owns shares in Zenith Bank and FBN Holdings.
The valuation update aligns with Otedola’s philanthropic donation of N1 billion to the Lagos State Security Trust Fund, showcasing his commitment to giving back.

Financial Performance Highlights:

Geregu Power Plc, where Otedola holds controlling stakes, experienced a remarkable N625 billion gain, with market capitalization surging from N327.5 billion to N997.5 billion between 2022 and 2023.
FBN Holdings, the parent company of First Bank Limited, achieved a commendable N437.9 billion surge in market capitalization, recording an impressive 116.1% annual gain on the NGX.
FBN Holdings reported gross earnings of N922.2 billion, reflecting an 80.1% year-on-year increase from 2022 and recently crossed the N1 trillion market cap.

Otedola’s Financial Trajectory:

Otedola’s journey into and out of Forbes’ billionaire list has been marked by fluctuations influenced by economic conditions, such as the oil price slump in 2009 and share price fluctuations of his oil company, Forte Oil, in subsequent years.

Latest Update on Billionaire Femi Otedola

Femi Otedola, a prominent Nigerian billionaire and entrepreneur, has made significant strides in various business ventures recently. He is best known for his substantial involvement in the energy sector through his company, Geregu Power Plc. Otedola holds over 70% of Geregu Power, which has seen a substantial increase in market capitalization, boosting his net worth to $1.2 billion as of 2024. In 2023, he strategically reduced his stake in Geregu Power from over 95%, allowing institutional investors to come on board.

Otedola’s recent business moves include his appointment as the chairman of FBN Holdings, a major financial institution in Nigeria. He joined the board of FBN Holdings as a non-executive director in August 2023 before being appointed chairman in January 2024. This move underscores his significant influence in Nigeria’s banking sector, where he also holds a substantial 5.6% stake in FBN Holdings.

Additionally, Otedola has diversified his investments into real estate, with properties in Lagos, Dubai, London, and Monaco. His investment portfolio also includes significant shares in Zenith Bank and FBN Holdings. Beyond his business ventures, Otedola is noted for his philanthropic efforts, including a recent donation of N1 billion to the Lagos State Security Trust Fund.

These ventures reflect Otedola’s strategic approach to expanding his business empire and maintaining a strong presence in Nigeria’s economic landscape.