The Nation Newspaper

Tag: wealthy

  • Poverty – The rusty clog on the wheel of progress!

    Poverty – The rusty clog on the wheel of progress!

    Poverty is the rusty clog that makes the wheel of progress grind slowly or come to a complete halt, especially in a country like ours where there is a wide gap between the rich and the poor, the powerful and the powerless.

    Closing this gap seems so impossible because our society seemingly despises the weak, poor and vulnerable, and adores the rich, strong and powerful.

    Our society which crucifies the poor in overt and blatant manners, but venerate the rich regardless of the enormity of crime(s) committed.

    Nowadays, people really do not care about the source or process in which humongous and overnight wealth is acquired; the pitiable mantra seems to be the end justifies the means.

    Therefore, people engage and indulge in several unscrupulous and unethical means to acquire the mazuma.

    The rich continue to get richer and rule over the poor.

    Don’t you think it’s funny how they send their children to Ivy League schools and place them in political and economic positions where we in turn serve father, mother, and children….even grandchildren?

    You might argue that success is not dependent on the status or how expensive the school you attend is; however, the fact still remains that those “expensive” schools give their students more exposure and richer networks of people than the common schools.

    Even with a first class degree, the child of the common man still has to work extra-hard to secure even the basest of employments.

    Being poor is really and truly a disease; once you are poor you will perpetually live in dis-EASE, and you might be denied your fundamental human rights.

    Like the saying goes – Money won’t make you happy, but everyone wants to find out for themselves.

    Everybody desires to be rich, famous and respected because it seems to be the major currency of valuable exchange in our society today.

    Therefore, the poor ones who are looked down upon become restless, they then start striving for that “high-end” life style.

    No doubt man has changed, and his craving for money knows no end.

    However, that craving is not that of determination, probably it once was, but has now degenerated to desperation, no wonder we now have young teenager getting involved in rituals, or Yahoo plus…just anything to get rich.

    Therefore, it would be safe for the writer to say that the same poverty that prevented man from moving forward, is also the source of man’s desperation.

  • Fantastically wealthy

    There is no question that Senate President Bukola Saraki is rich. But there are certainly questions arising from his prosperity-status. When an individual is stinking rich, the wealth may well be stinking. Or, put differently, when an individual is filthy rich, the wealth may well be filthy.

     Saraki’s lawyer, Paul Erokoro (SAN), reportedly described him as “extremely rich”. Erokoro made Saraki’s riches public during his ongoing trial for alleged false assets declaration before the Code of Conduct Tribunal (CCT), Abuja. Saraki didn’t need to become Kwara State governor in 2003 to make mega money, his lawyer argued. He was already rolling in money by the time he became a governor, his legal representative stressed.

     It is thought-provoking that Erokoro, based on the asset declaration form Saraki submitted to the Code of Conduct Bureau (CCB) in 2003, reportedly “said he needed to point out that his client was very rich before he became Kwara State governor to erase the wrong impression created by the prosecution that, he could not have acquired the property he claimed to have, without obtaining loans from banks”.

    A report said: “He said he had $22 million US dollars, about 12 million pounds, 2.6m Euro and about N4 billion in cash in his various accounts.” Apart from “the liquid asset,” the report stated: “Saraki said he also possessed landed property estimated at N2 billion and 15 vehicles valued at about N263.4m”.

    The report continued: “He gave details of the vehicles he acquired as at 2003 to include: Mercedes X320, valued at N16m; Mercedes X500 worth N20m; Mercedes G500, valued at N6m; Mercedes V220 worth 2m and Ferrari456GT, valued at N25m.”

    It also said: “Others are:  Navigator, N15m, MN240 worth N8.5m; Peugeot 406, valued at N2.9m; Mercedes CLK 320 worth N9m; Mercedes E320 valued at N11m; Mercedes G500 bullet proof, worth N45m; Mercedes X500; Lexus jeep bullet proof, valued at N30m and Lincoln Navigator bullet proof worth N25m.”

    Indeed, this is a rich collection of vehicles, and the logical question should be how Saraki acquired the vehicles, or how he acquired the capacity to acquire the vehicles.

    The report added: “The lawyer was however silent on the source of his client’s wealth and how he came about all the property and cash he claimed to have possessed before he became governor in 2003.” Silence will not answer the loud questions Saraki needs to answer to clarify his claims: How did Saraki come to be so rich?  What super explanations can explain Saraki’s super wealth?

    It is noteworthy that the Economic and Financial Crimes Commission (EFCC) said its findings “showed that the defendant/applicant abused his office, while he was the governor of Kwara State and was involved in various acts of corruption as the governor of the state”. The anti-graft agency also said: “The defendant/applicant borrowed huge sums of money running into billions from commercial banks, particularly Guaranty Trust Bank, and used the proceeds of the loan to acquire several landed properties in Lagos, Abuja and London, while he was the governor of Kwara State”.

    Consequently, Saraki is facing charges “ranging from anticipatory declaration of assets to making false declaration of assets in forms” he had filed with the Code of Conduct Bureau while he was governor of Kwara State. Saraki was also “accused of failing to declare some assets he acquired while in office as governor, acquiring assets beyond his legitimate earnings, and accused of operating foreign accounts while being a public officer”.

    It is important to note that the EFCC said: ”Asset declaration form is not just any document. The person declaring his assets is expected to go before a high court judge to swear an oath. They swear to affidavit, so it is believed that all he swore to, and appended his signature to is the truth.” If so, it may well be that Saraki is yet to tell the whole truth, meaning that he would need to say how he made so much which enabled him to acquire so much.

    It is relevant to consider Saraki’s trajectory before his trial. His profile said: ”Abubakar Bukola Saraki was born on 19 December 1962 to the family of Olusola Saraki, a senator (1979 – 1983) and a one- time Senate Leader of the Federal Republic of Nigeria and his mother Florence Morenike Saraki. He attended King’s College, Lagos from 1973 to 1978, and Cheltenham College, Cheltenham, London, from 1979 to 1981 for his High School Certificate. He then studied at the London Hospital Medical College of the University of London, from 1982 to 1987, when he obtained his M.B.B.S (London). He worked as a medical officer at Rush Green Hospital, Essex, from 1988 to 1989. He was a director of Societe Generale Bank (Nig) Ltd   from 1990 to 2000.”

    The biographical account also said: “In 2000, President Olusegun Obasanjo appointed Saraki as Special Assistant to the President on Budget…In 2003, he ran for the office of governor of Kwara State on the platform of the Peoples Democratic Party (PDP), and won. He was sworn into office in May 2003. He ran again for re-election in 2007 and won his second term. He was first elected to the Senate in April 2011, representing the Kwara Central senatorial district, and re-elected in the March 2015 elections… After his re-election in the 2015 general elections, Saraki was on 9 June 2015 elected unopposed as President of the Senate by an across the party alliance comprising PDP and APC Senators.”

    This background gives no clue as to how Saraki could have made what he claims to have made before he became a governor.   Perhaps more important than how much an individual has, the question of how such an individual came to have so much should be beyond a shadow of a doubt.  The clarification of the sources of personal wealth is so crucial that it must not be a subject of speculation.

    Saraki currently belongs to the All Progressives Congress (APC) which he joined from the Peoples Democratic Party (PDP), but his Senate presidency is seriously imperiled, following an understandable backlash occasioned by his opportunistic subversion of his party’s calculations for the federal legislature. He may yet learn that party supremacy is supreme.

    In the final analysis, an individual’s fantastic wealth cannot be left to the public imagination for explanation. This is the reality Saraki must face.

  • Imminent coup in show business: Wealthy Nigerians’ children plot TAKEOVER of music industry

    Imminent coup in show business: Wealthy Nigerians’ children plot TAKEOVER of music industry

    THEY are children of wealthy businessmen and political bigwigs. Many years ago, it would be preposterous for them to contemplate a career in music. The jobs reserved for them were blue chip, and they would easily be tagged as rebels if they ignored a career in the corporate world for a vocation believed to be reserved for school dropouts and never-do-wells.

    But this is the jet age; the age in which emphasis is placed on the independence of the child’s mind. The society and its value system have experienced a paradigm shift from the age of restriction where parents decided the future of their children to the age of freedom where the kids decide what path they want to toe.

    That is the case with Folarin Falana, son of frontline lawyer, Femi Falana (SAN), whose alias is a.k.a. Falz the Bad Guy. Folarin literally rebelled against his father, dumping the wig for a career in music.

    Falz the Bad Guy is not alone in this trend of the nouveau-rich treading a path previously believed to be reserved for the children of the poor. The list includes other music stars like Naeto C, son of former Minister of Aviation, Kema Chikwe; David Adeleke a.k.a. Davido is a member of the prominent Adeleke family in Ede, Osun State; Florenece Ifeoluwa Otedola a.k.a. DJ Cuppy is the daughter of billionaire businessman, Femi Otedola while Chuka Edozien, popularly called Lynxx, is son of a former deputy governor of old Bendel State.

    Folarin Falana (Falz the bad guy)

    The name Folarin Falana may not evoke any emotion among young and upward mobile Nigerians, but the mention of Falz the Bad Guy is sure to elicit loud cheers, especially in entertainment circles.

    The son of fiery legal luminary, Femi Falana, Folarin, though trained as a lawyer, is making a name for himself in the entertainment industry. He attended St. Leo’s Catholic Primary School, Ikeja, after which he proceeded to Olashore International School in Osun State. He bagged his law degree at the University of Reading in the United Kingdom and later proceeded to the Nigerian Law School, Abuja.

    His career in music began in 2009 when he released a mix tape titled Shakara. It was a compilation of some songs he had recorded, which was uploaded for the public to know more about his music. He later came out with other singles like Cool Party, What’s up Guy and High Class, his most successful single to date.

    Given his father’s reputation, many had expected to take the courtroom by storm when he graduated from Law School. But rather than head for the courtroom, the allure of music was too tempting for young Folarin to resist.

    He said: “A lot of people have asked me why I opted for music instead of Law. My response has always been that when you are very passionate about something, you must follow your heart. Music is my passion.

    Initially, I had hoped to follow in my father’s footsteps. Looking at his life, how much he has achieved and the kind of name he has made for himself, I sincerely wanted to follow in his footsteps. I admired his achievements and lifestyle. The main reason I studied Law was to emulate his achievements. But music simply stole my heart.

    For those who thought that his decision to drop the wig for the microphone would lead to family dispute, Folarin said he had the backing of the family the moment he made his plans known.

    He said: “My decision to take up music did not cause any problem in the family. Although my father was surprised when he got to know about my decision, because he found it strange that I would take up music as a profession, it was handled maturely by my father and other members of the family. Later on, my dad and my mum started to accept it and have even gone as far as encouraging me.”

    On his stage name, Folarin said: “First, Falz is a nickname my friends gave me while I was in school. It is just a short form of my last name, Falana. As for ‘Bad Guy’, it is not Bad Guy but BAHDguy, which is an acronym for Brilliant And Highly Distinct guy (BAHDguy). The BAHDguy stands for something positive.”

    David Adedeji Adeleke (Davido)

    Better known by his stage name, Davido, young Adeleke is an American-born Nigerian recording artist, performer and record producer. Davido stormed the music industry in 2011 with his chart-bursting single, Dami Duro, which was well-received throughout Nigeria.

    Along with his elder brother, Adewale Adeleke, Davido is the co-owner of HKN Music. He has produced for numerous artistes, including Naeto C, Skales, Tiwa Savage and Sauce Kid.

    With the huge success of Dami Duro, Davido, who relocated to Lagos at a young age, came out with his debut album, Omo Baba Olowo in 2012. The album features singles like Back When, which featured Naeto C; Dami Duro, All of You, Overseas, which featured Sina Rambo; Ekuro, Gbon Gbon and Feel Alright, which featured Ice Prince.

    Davido was born on November 21, 1992, to Chief Deji and Vero Adeleke in Atlanta, Georgia. His father is a Nigerian business magnate while his late mother was a university lecturer. He attended The British International School in Lagos before proceeding to study Business Administration at Oakwood University, prior to relocating to Nigeria. He graduated from Babcock University in Ogun State.

    Speaking on his musical career, Davido said: “I have been doing music for some time now, but I took it seriously in March 2011. I started with a group called KB international in America. It wasn’t working out, so I thought I should just do this on my own.

    “I was around people who were musically inclined and I love music. So, I simply said to myself, ‘Why not do something you love and be happy while at the same time making money?’”.

    Chukie Edozien (Lynxx)

    Chukie Edozien, better known by his stage name Lynxxx, is a hip-hop recording artist and entrepreneur. The only son of Chief John D. Edozien, a former deputy governor of old Bendel State, Lynxx burst onto the scene in 2010 with his debut single and went on to become the first Nigerian artiste to be endorsed by the global brand, Pepsi.

    He is the originator of Jollof Musik, a genre he describes as “an artful blend of music to create great music.”

    Chukie attended Corona Primary School Ikoyi, Lagos for his primary education, and went on to Kings College, Lagos for his secondary education. He attended the University of Hull in the United Kingdom, where he obtained a degree in Business, Economics and Marketing.

    After almost a decade of behind-the-scenes work, Lynxxx came out with his debut as a recording artiste in December 2009, when he released his first official single, Change Your Parade. The single became popular in nightclubs and radio stations across the country, leading to tremendous rise in his fan base.

    He followed up the success of the single with the release of his debut album, This Is Lynxxx, in December 2010. The album featured a combination of musical genres, including urban hip hop, contemporary R&B, and infusions of funky house. He would later tag the style as JollofMusik.

    Naetochukwu Chikwe (Naeto C)

    Naetochukwu Chikwe a.k.a. Naeto C is the son of former Minister of Aviation and Nigerian Ambassador to Ireland, Mrs. Kema Chikwe and Chief Herbert Chikwe. He spent his early years in Owerri, Imo State, in a household highly influenced by music. His fondness for music grew fast and soon found his way in other creative art forms, most specifically poetry, which took him to various competitions and earned him accolade as a young poet.

    After finishing his secondary education in Lagos, he moved to the United States for higher education. Naeto C later hooked up with other budding talents, Uzikwendu and Ikechukwu. The trio went on to form a group, the World Famous Akademy.

    Naeto C graduated in 2004 from the George Washington University with a B Sc. in Biology, but with plans to go further and become a medical doctor. After some deep soul-searching, he changed his mind and decided to pursue his dream and develop his talent as a musician.

    In the summer of 2013, Naeto C disappeared from the entertainment scene and returned to school to pursue a higher degree at the University of Dundee, London.

    His notable production achievement is I Believe, a song Naeto wrote and co-produced with VC Perez. Naeto C has garnered more experience to establish himself as a household name in the nation’s music industry.

    Florenece Ifeoluwa Otedola (DJ Cuppy)

    Florence Ifeoluwa Otedola, also known as DJ Cuppy, is a Nigerian music producer and the daughter of Nigerian billionaire businessman Femi Otedola. She graduated from King’s College London in July 2014 with a 2.1 honors degree in Business and Economics, and is currently enrolled at New York University to pursue a Master’s Degree in Music Business.

    Her father, Mr Femi Otedola, is the second Nigerian to ever make the Forbes annual list of the world’s richest people with an estimated net worth of over US$1.2 billion. He is the CEO of Forte Oil Plc and the Nigerian President and Chief Executive Officer of Zenon Petroleum and Gas Limited.

    His marriage to wife, Nana, is blessed with three daughters and one son, among whom is Florence Otedola, popularly known as DJ Cuppy, who was recently named tourism ambassador for the Federal Republic of Nigeria.

    DJ Cuppy began her career as a DJ at 16 in London, buying second-hand equipment and playing in clubs. In 2014, she was the resident DJ at the MTV Africa Music Awards in Durban. She would go on to play at the Tatler and Christie’s Art Ball in London and the Financial Times Luxury Summit in Mexico City.

    In July 2014, she released House of Cuppy, her first compilation mix in both London and Lagos. She then had a launch for House of Cuppy in New York City on September 2, 2014. She also launched her music management and content production business, Red Velvet Music Group.

    Speaking about her love for music, DJ Cuppy said: “I have always loved music, even as a child and I was very passionate about young people. I am greatly honoured when young people approach me to say they like what I am doing. I am also establishing my own company, which is into publishing and management. I have a 10-year plan to change the face of entertainment in Nigeria.”

    She says she has the blessing of her parents, both of whom she said have been very supportive.

    She said: “My mother has been my everything. She has been very supportive of my career. She is such a strong woman, and I only wish I can be half of what she is. All I know is that it is always good to do what you love. I also love to do business and that is why I am combining music and business. From the onset, I have always had this entrepreneurial spirit to run my own business one day. That, I will say, I got from my dad.

    “My dad is not only my mentor; he is very involved in my adventures. Whenever I have shows, he will help me go through the list. He is very passionate about music. He loves music a lot. I remember listening to Fela’s music with him in the car when I was younger.”

    While not dismissing the importance of her background in her rise to the top, DJ Cuppy believes her talent and hard work have been the major factors in her ascendancy to the top.

    “I will say that I am very lucky, because I have very supportive parents. Of course, I also have the most supportive team in the world. My parents encouraged me to be the best in whatever I do. I think it is all about being myself and not trying to be someone else.

    “I am very lucky to have the kind of parents that are pushing and challenging me to be the best I can. A lot of times, people get distracted by the background information. I am where I am, following my dreams and doing a very exciting project. With time, people will come to see that it is passion and talent that has worked for me.”

  • Auto magnate, Sunny Asemota, retires

    EDO-BORN auto magnate, Chief Sunny Asemota, the Chairman of Sunny Motors and Omoregie Motors, is one wealthy Nigerian whose indelible footprints in Nigeria’s auto business have remained a reference point for many decades. In the last 40 years, the revered businessman with his equally famous wife, Ireti, have also made their mark in the social circuit, a feat that has earned them a legendary status of sort. Now aging gracefully and having successfully nurtured his auto companies from infancy to multi-billion enterprises, the Benin High Chief has, in the last couple of years, found it imperative to slow down on his very intense business schedule. His companies are now being ably run by his children, Osa, Iredia and Omoregie, and you can bet they have proved to be true chips off the block.

  • I’m 22, I need a wealthy woman of 50 for a relationship

    I’m Alex, 22, a student in Lagos. I need a romantic and wealthy woman between age 30 and 50 who

    lives in Lagos for a relationship.

     

    •Dear Alex, your request shouldn’t have come through me at all. I’m sure your mum and aunties have wealthy friends within their age brackets, so all you should do is to walk up to any one of them for friendship. If that fails, you print your request on fliers and go to all those highbrow shops in Lagos where they sell lace and expensive goods and distribute. Who knows, you may be contacted.

    As for me, I believe in morals and I would tongue lash a younger brother of mine who at this age is looking for a wealthy woman old enough to be his mother instead of concentrating on hard work and a bright future. Forget about all the sugar-mummy stuff you see in film, if they exist in reality, it is rare and it takes more pains than what you see. There is also no future in it. Be serious about life, Alex.