|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.