Former Chairman of the National Population Commission, Chief Festus Odimegwu has a lot up his sleeve as he plots to resurrect his crumbling businesses.
The man who for many years was the Chief Executive Officer of the Nigerian Breweries Plc has major interest in Hospitality, Oil and Gas, Real Estate and Entertainment.
Sources revealed that the businessman’s business empire was on the verge of collapse and that was the major reason he resigned his top job from the National Population Commission some months ago.ambrosia Festus-OdimegwuFestus-Odimegwu
Odimegwu’s resignation from the Commission came as a rude shock to many of his friends who thought he had the chance to win the heart of President Goodluck Jonathan who appointed him to the position without giving consideration to his private business which was suffering as he was revealed not to be getting what he hoped to leverage on as the head of the NPC.
An insider revealed that when Odimegwu was busy with the NPC his private business was in total mess which led to the close down of many of his investments.
One of his interests that experienced a closure was his Ambrosia nightclub in Victoria Island, Lagos which became a police matter where the ex NBL boss arrested some of his managers alleging a huge fraud that set back the account of the hangout in millions.
Odimegwu at the moment is putting machineries in motion to revive his businesses and the first step he is taking is to monitor everything by himself.
The businessman is also expanding his business fronts as he has injected a new business, the importation of exotic wines into the country.
The new wine, ANGEL is an alcoholic beverage which Odimegwu markets strictly within the circle of his rich friends, a bottle of the drink sells for 500,000 naira.
Papermacheonline was at the Ambrosia nightclub of Mr Odimegwu and witnessed the renovation taking place.
The hangout which is set to reopen for revellers for the Christmas and new year celebration is revealed to have been leased out by Odimegwu who feels he would not be able to supervise the full activity of the hangout based on its time of operation.
Odimegwu’s step to revive his business has not only paved way for his return to the social circle with a new status, it has also affected his spending and lifestyle.