CAN THE POLICE TOUCH THIS VIRTUAL UNTOUCHABLE? THATS TALKING ABOUT OTUNBA DR MIKE ADENUGA

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.

THE ROYAL FATHER AND HIS UNBEARABLE BURDEN OF DEBT

He is young and very flamboyant and a well respected royal father at that, he is one that can be described as a triple threat, in fact his esteemed stool is held as very sacred. Given to vanity and wanting to announce that he also wasn't a pushover, by any means to prosecute his ambition at becoming the king of his homestead/domain he went all out. His ambition had always been to get the crown and sit on the throne. So when the opportunity fell into his lap, he left no stone unturned.

Before the opportunity to rise to the stool came, he had always been involved in one deal or the other that were not too clear, to make sure he would get to the throne he engaged the help of a few prominent people, amongst them were other royal fathers, who helped to speak to the powers that be or those who could influence decisions. One out of the royal fathers, was an equally young and flamboyant king too, who went all out for him, believing they were close and also because he was very connected, so it was this one that introduced him majorly to the powers that be, that assured him and made sure all was going to be well.

To further enhance his status, the king to be then went all out borrowing. At a bank he got a loan of half a billion (N500 million Naira), with this he went on a spending spree. Several Prados exchanged hands, not to talk of innumerable numbers of transformers. This wasn't enough though, friends and supporters even contributed greatly here and there. The King needed to elevate his status to match what he perceived was the standard already laid down; there were luxury items befitting a king to be to buy or acquire, the particular distinct watches and jewelry to own, humongous cars to fit the new status, a befitting, stand out palace, the very aura of the well made needed to be fitted into. The former royal father had set a colossal antecedence, that the king wanted to match at all cost.

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