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Forbes Values Mike Adenuga’s Fortune At $7.4 Billion, Reclaims Second Richest Nigerian Status

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Globacom Chairman, Dr. Mike Adenuga Jr., has ascended to the position of Nigeria’s second-richest individual, boasting a net worth of $7.4 billion, as reported by Forbes in its latest valuation.

Earlier in June 2023, Adenuga’s net worth had experienced a decline to $3.6 billion. 

This significant increase in wealth is attributed to Forbes’ recent reassessment of the valuation of his telecom giant, Globacom, which he founded and is currently the second-largest telecom service provider in Nigeria.

Adenuga’s net worth had faced a downturn, falling from $6.3 billion in January last year to $3.6 billion in June 2023.

Factors influencing this decline included the unification of the naira in June and the performance downturn of his stake in Conoil.

Despite these fluctuations, Adenuga has consistently engaged in philanthropy. 

The Mike Adenuga Foundation, for instance, allocates nearly $20.5 million in scholarships and aid to support students annually. The foundation supports female students

In 2011, Adenuga donated N500 million to aid flood victims in Bayelsa State, demonstrating his commitment to societal well-being.

 Additionally, during the global COVID-19 pandemic, he contributed a substantial N1.5 billion towards efforts to combat the virus.

Beyond health and education, Adenuga’s generosity extends to sports, as seen in his $250,000 donation to Nigeria’s football team, the Super Eagles, showcasing a multifaceted commitment to making a positive impact in various spheres of society.

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Society

Ogun to Fine filling stations, eateries denying the Public Usage of their Toilets

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Ogun to Fine filling stations, eateries denying the Public Usage of their Toilets

Ogun state government has criminalized prevention of members of the public by petrol filling stations and eateries, as well all public places, from using their toilets.
It says members of public have the rights to use their toilets which must always be kept clean for public use.
The state environment commissioner, Ola Oresanya asked members of the public denied the usage of the toilets, to report to 090-1048-0056.
Oresanya, speaking on a Rockcity FM programme: ‘daybreak show’ on Thursday, said the provision of public toilets was part of the conditions for approving their operational licenses across the state.
The commissioner also said a bill has been sent to the state house of assembly to penalize open defecation and urination in the state.
According to him, the bill stipulates fines ranging from N5,000 to N50,000 for offenders.
He adds that there is a provision for three month prison term or a one month community service for anyone caught in the act of defecating or urinating publicly.
Oresanya said that already, the state was building modern public toilets, six of which are now operational between Mowe and Berger axis of the Lagos-Ibadan expressway.
The target, according to him was to build 40, across the state, out of which 20 would be ready by end of 2025.

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One Person injured as Custom,Smugglers Clashes in Ogun

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One Person injured as Custom,Smugglers Clashes in Ogun

Customs officers have been injured in a gunfight with smugglers at Obada Idi Emi near Imeko Afon, in Ogun state border communities with Benin republic.
The leader of the customs patrol team and another officer were injured in the arm and legs.
Another person suspected to be an onlooker was shot dead.
The smugglers had attacked officers of a custom patrol which intercepted smuggled parboiled rice on Monday.
The officers had offloaded the contraband from a Mazda car whose driver had escaped into their patrol van when the armed smugglers opened fire on them.
The custom officers were forced to escape from the scene.
The patrol vehicle was damaged while the seized contraband was taken away.

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Breaking: Court Dismisses Alleged Imposed Baale in Kajola Iboro, Ota

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Breaking: Court Dismisses Alleged Imposed Baale in Kajola Iboro, Ota

A High Court sitting in Idi-Oke, Igbesa, on Tuesday issued a ruling that restrains Odetogun Moruf from presenting himself as the Baale of Kajola Iboro, a town in Ota, located in the Ado-Odo/Ota Local Government Area of Ogun State.

In the case with suit number HCI/130/2024, the court ordered Mr. Moruf, who was previously claimed to have been installed by the Alake of Egbaland, Oba Aremu Gbadebo Adedotun, to cease parading himself as the Baale of the Awori town.

Kajola Iboro, an Awori town sharing borders with Atan, Ota, Oke-Ore, and other Awori settlements, traditionally falls under the jurisdiction of the Olota of Ota.

However, the alleged “expansionist” actions of the Alake reportedly led to the installation of an “illegal” Baale in the town, a decision that has now been overturned by the High Court.

Further details of the court proceedings remain unavailable as of the time of this report,

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