Inside Details!…How Televeras Boss, Igho Sanomi Escaped “Economic Hell” In Mega Business Dispute

Labule Thomas

Young billionaire, Igho Sanomi almost went under.

He faced multiple disputes in mega business deals, especially in the mouth-watering crude oil swap arrangement with the federal government.

The NNPC claim Sanomi’s company in the deal with Duke Oil Duke Oil incorporated -a subsidiary of NNPC – was ripped off the corporation in the huge transaction.

And in the face of this, Televeras a $2billion revenue yielding company Sanomi heads failed to make the list of successful bidders for the 2017/ 2018 crude term contracts released by the Nigeria National Petroleum Corporation (NNPC).

This was dire for a company that had planned revenue and entered into business arrangements based on projections from the cancelled crude lifting deal.

Societynow.ng gathered Sanomi’s quick thinking and holistic approach got him out of the mess.

“He entered into negotiations with the NNPC, his banks and related creditors” societynow.ng learned.

Added revelations have it that rather than fight the tide, Sanomi swam along and negotiated himself and company out of the business woes – while competitors made a feast of his situation all over town.

“Sanomi faced economic hell” a source stated simply.

Societynow.ng gathered that under the cloud of unfavourable talks, Sanomi refocused and re-strategized his company.

Amongst other things, Sanomi is said to have shifted the focus of Televeras to exploration activities on oil blocks the company owns in Cote D’Ivoire. And earmarked about $100m investment for upstream business in Africa societynow.ng gathered.

“It’s wrong to say Sanomi and his Televeras are out, rather the young billionaire is still as solid as ever but just keeping a very low profile in order not to attract unwanted attention, especially from those still hoping to get at him with the crude swap issues” societynow.ng learned.

Televeras, Sanomi’s high yielding company is fingered as one of the major beneficiaries of the corruption-ridden era of Diezani Madueke as Petroleum Minister.

But the Televeras boss –had multiple times – insist the accusation far from the truth.

Societynow.ng gathered Sanomi is doing wonderfully well with the refocusing of his business.

“From what I hear Sanomi working hard and making Televeras to aggressively engage in capital investments in the downstream, upstream, power and telecommunications sectors across Africa” a source disclosed.

Societynow.ng gathered that far from the perception of out and all over, Sanomi is, in fact, rearing for bigger things in the private sector driven region.

Sources claim with Televeras trading arm situated in Abuja and Dubai – as well as offices all over West Africa, Europe and Asia refocused for bigger things, Sanomi is now not just staying away from attracting public attention as much possible, but also screening those with access to his world.

“Sanomi now wants to make great achievements staying very low profile” societynow.ng learned