Friday, June 2, 2023
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Otunba Dr. Mike Adenuga Jr

On the Forbes magazine list of Africa’s wealthiest, a list many have come to count as an official stamp, Otunba Dr. Mike Agbolade Adeniyi Ishola Adenuga Jr. is rated as the 2nd officially most liquid Nigerian and by extension top 7 richest African too, with a networth of about $5.5 billion dollars. The man variously referred to by many tags, chief of which is “the Bull”, for his never say die attitude and extraordinary strength of purpose has retained these 2 positions in Nigeria and Africa for many years, and he is sure never to go down at all.

His awesome resume is the type that gives hope to people who are not scared to work hard. Just imagine a man, who while in America drove taxis and from what he earned began to trade and from that humble beginnings, has grown to who he is now, a billionaire many times over!
Apart from owning the 2nd national carrier, Glo, his investment portfolios in real estate, oil and gas, finance etc are staggering to say the list.

But even with all his wealth/resources, connections around the world and wherewithal this particular season seem to be a trying one for him. According to unsubstantiated reports he is reported to be indebted in tune of some staggering amount. Like a late former billionaire was quoted to have said years back, “the bigger the head, the bigger the hat that would fit that head too”, so someone of Adenuga’s wealth and Caliber is expected to have huge debts, it’s expected in business!

The very first sign of seeming unease was when his Glo licence in Benin Republic, our neighbouring country where the brand had grown to a sizeable chunk with over a million subscribers was not renewed so the brand was sent packing out of that country. The report claimed that they were sent packing because of their inability to pay the requirements to renew the licence! For someone who had built the sort of reputation that money is not an issue, when it comes to lucrativebusiness/investment opportunities many were shocked! But however any one sees it, it’s not just a loss for Glo in Benin republic, but also a major loss for that country too!

More after the break.

After the Benin Republic issue, the other news that began to filter in was that Glo was owing some colossal amount of money, ₦16.7 billion to be precise. Glo ? A brand many had expected so much from, given that it was the 2nd national carrier, the brand that especially broke the strangle hold of a certain brand on Nigeria and brought in the per second billing? Yes that Glo! and they had promised to role out so many new things, but many of the promises are yet to be kept!

Now the news gaining traction more and more by the hour daily, is the new order given by the House of Representatives, Ad-hoc committee ordering the Police to “arrest” the reclusive billionaire for the debt of ₦16.7 billion said to be owed to the FG.

The Ad-hoc committee’s grouse with the reclusive billionaire is about how he has been invited before the committee many times and how he has refused and completely disregarded them by not honouring their invitation!

So because of the slight, the ad-hoc committee agreed to issue a bench warrant for the arrest of ADENUGA, and they have given the IGP till 12noon of February 15, 2018 to produce the billionaire.

The question on everyone’s mind is this, can the House of Representatives Ad-hoc committee, which many consider a toothless bulldog make the police arrest ADENUGA? Would the EFCC & ICPC go ahead and effect an arrest?

The other question also is this, must Dr. ADENUGA appear before this committee or any other committees at that, especially when he has very qualified representatives, who are paid humongous salaries et al who can stand in for him and whose jobs are even for such times like this?

Is this not a matter of ego tripping, especially on the side of the legislators?

We are eagerly waiting with bated breaths, to see how matters would unfold towards the February 15 date ultimatum given by the house. 

Maestros Media
Maestros Media
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    • At 12.12 PM AGREE WITH YOU. With all the money he has, he cannot have fun, enjoy his money even walk freely because of his weight. And his wife is not better too.Wonder why this man cannot lose weight either by having surgery or getting a personal trainer after all he can afford it. Ignorant is a bliss but you just don't have to be sucked in it. Good luck Mike and please do something about it ASAP

    • Love Mike Adenuga for his humility which is rare of someone of his status in our society but HE NEED TO LOSE WEIGHT. He look so uncomfortable carrying all those extra weight around

    • Yes! Yes! Chairman needs to slim down. Please Sir, You can reach Maje Ayida via text, gram, Snapchat, Twitter , glo line and mail post and make him your personal trainer. Sir, you can afford him.

    • He really needs to lose weight; him and Eniola. I mean, take a look at Paddy and see how much weight he has lost; almost unrecognizable.

  1. Aloba go hear gist in town,who's the baby daddy of chubby actress in Omo ghetto who gave birth to a boy two years ago? Insiders says huumm one person that is huge like her and also owns place where you can buy a particular sim card and airtime(telecom man in Lagos).the babe agreement is to forever code the affairs,but the bitter friends who were there when they met,are now angry to expose her to blogs. She will soon move to banana island.

  2. @anon 12;38 be deceiving yourself and your friend or maybe she has been lying to you, my flat to Otunba's compound in Banana is 7minutes walk.Unless you are referring to a recharge card seller or recharge card distributor then I don't know about that

  3. @anon 4;42. which humility? the man is an arrogant piece of crap.He was trying to oppress us with money by insisting the main road 2nd avenue leading from the estate gate to his house be changed to his name.But he forgot Banana Island is not lekki or mainland, the resident's association took him to court and matched him connection for connection,money for money.We have advised him to buy a plot of land and build a public infrastructure in his name if he wants his name in Banana so bad

  4. Connection for connection, yes I can understand, but money for money? How much do you guys have to match Mike? If he decides to waste N1bn on that vanity undertaking, can the residents association match that to stop him?

  5. @anon 11:00 PM Find out the residents of Banana Island,especially the same 2nd avenue all the way down that Adenuga is trying to change the street.


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