EXCLUSIVE: ARM Pension MD, Wale Odutola in Land Grabbing Scandal!

Wale Odutola

Controversy is just like an alter ego for this seasoned Portfolio Manager with extensive experience in research, and popular businessman, Wale Odutola. Today, the wealthy entrepreneur, who calls the shot at ARM Pensions, is again in the news for yet another wrong reason.
According to information available to SOCIETY REPORTERS, few months back a number of people and the men of the police stormed his Lekki Phase 1 house, protesting against what they called illegal acquisition of their land by Wale Odutola.
One of the protesters, who spoke to Society Reporters in disguise, accused the ARM PENSION MD of allegedly using his status and power to forcefully seize their land and already started erecting an edifice on it.
The drama, according to a reliable source all happened on 8th April, 2018 when residents started observing massive crowd in protest at the entrance of Wale Odutola’s Lekki premises, chanting and shouting different names which best described him as a fraudulent corporate player, alleging that this is not the first time such is happening.
According to the source, he has been summoned by the inspector general of police, and already answered to some questioning around same April 2018, when he had to travel to Abuja.
Another reliable source also hinted us that Wale Odutola’s late father, Chief Odutola was also allegedly involved in the same kind of mess and was severally alleged to be involved in the same land grabbing mess before his death.
“Wale Odutola is a hero of fraudulent corporate player, a trait he was alleged to have gotten from his late father which made people tag him as a true son of his father” the source spurts.
Adding that, “People gathered at his house, one of the choicest part of Lekki phase 1 on 8th April 2018 shouting and calling him to come out, before he later sneaked out to attend to interrogations with the police”. The source told Society Reporters while giving us the pictures taken from the scene.
Efforts to reach Wale Odutola to hear his side of the story all proved abortive as his MTN number we have wasn’t going through.
We will keep you informed as soon as we lay our hands on more details of his other dealings.
Wale Odutola is currently the Managing Director of ARM Pension Managers (PFA) Limited. Prior to this appointment he had served as the Managing Director of ARM Securities, ARM Properties Plc., as well as ARM Hospitality and Retail Fund where he was responsible for significant improvements in the businesses operating performance.

Wale has a B.Sc. Accounting degree from the University of Lagos and is an Alumnus of the Harvard Business School with over 18 years experience in the financial sector.


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