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Breaking: Billionaire Businessman, Bolu Akin-Olugbade, Dies Of COVID-19
Bolu Akin-Olugbade, billionaire businessman, has died from COVID-19 complications.
According to family sources, the socialite died on Wednesday at the Paelon COVID Centre, Ikeja, Lagos.
He was born on April 2, 1956, to the family of late Babatunde Akin-Olugbade, Balogun of Owu and a wealthy businessman.
Until his death, Akin-Olugbade was the Aare Onakakanfo of Owu Kingdom.
He obtained a doctorate degree in Company Law from Cambridge University.

A native of Owu kingdom in Ogun state, late Akin-Olugbade was described as one of the world’s biggest Rolls-Royce collector. He was so obsessed with the brand that he had 10 Rolls Royce which has his customized plate numbers- ‘BOLU 1, 2, 3, 4, 5…”
His 10th Rolls Royce, the Cullinan worth $450,000, was reportedly the first shipped to Africa in 2019.
He was a lawyer and his business interest include property development, construction, manufacturing, logistics, distribution, maritime and offshore services and investment banking.
He attended Corona School, King’s College, Lagos and London University.
Akin-Olugbade had his master’s degree in law at University of California and obtained his doctorate degree in company law at Cambridge University.
A man of taste and glamour, Akin-Olugbade told ThisDay in 2018: “I have different concepts of how I spend money.
“I spend money on cars because I have always loved cars. I bought my first Rolls Royce in 1984 and now, I am on my ninth Rolls Royce. I believe in dressing well and I travel a lot.”
Breaking News
Corruption Battle: Dangote Drags Ex-NMDPRA Boss To EFCC After ICPC Withdrawal
Aliko Dangote, Chairman of Dangote Industries, through his legal representative, has formally submitted a corruption petition to the Economic and Financial Crimes Commission (EFCC) against Farouk Ahmed, the former Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
This was disclosed in a statement made available to our correspondent by the Dangote Group media team on Friday.
Recall that Dangote had earlier petitioned the Independent Corrupt Practices and Other Related Offences Commission to investigate Ahmed for allegedly spending $5 million on his children’s secondary education in Switzerland. He withdrew the petition a few days ago, even as the ICPC vowed to continue with its investigation.
The statement on Friday said Dangote’s petition to the EFCC followed “The withdrawal of the same petition from the Independent Corrupt Practices and Other Related Offences Commission, a strategic decision aimed at accelerating the prosecution process.”
In the petition, signed by Lead Counsel Dr O.J. Onoja, Dangote urged the EFCC to investigate allegations of abuse of office and corrupt enrichment against Ahmed, and to prosecute him if found culpable.
The petition further stated that Dangote would provide evidence to substantiate claims of financial misconduct and impunity.
“We make bold to state that the commission is strategically positioned, along with sister agencies, to prosecute financial crimes and corruption-related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders. See Lawan v. F.R.N (2024) 12 NWLR (Pt. 1953) 501 and Shema v. F.R.N. (2018) 9 NWLR (Pt.1624) 337,” the petition read.
Onoja further urged the commission, under the leadership of Mr Olanipekun Olukoyede, “To investigate the complaint of abuse of office and corruption against Engr. Farouk Ahmed and to accordingly prosecute him if found wanting.”
Breaking News
Rivers Assembly Reopens Impeachment Push Against Gov. Fubara, Deputy
The Rivers State House of Assembly formally recommenced impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu.
This marks the second time within ten months that the state legislature has initiated such a move.
At a plenary session presided over by the Speaker, Martins Amaewhule, the Majority Leader of the House, Major Jack, formally read the notice detailing allegations of gross misconduct against Governor Fubara.
The notice, which was endorsed by 26 lawmakers, accused the governor of actions allegedly in violation of the Nigerian Constitution.
Amaewhule announced that the notice would be served on the governor within the next seven days.
During the same sitting, the Deputy Majority Leader, Linda Stewart, read the notice of allegations and gross misconduct leveled against Deputy Governor Ngozi Oduh.
Breaking News
Supreme Court: President Has Power To Declare Emergency Rule, Remove Elected Officials
The Supreme Court has reaffirmed that the President holds the constitutional power to declare a state of emergency in any state where circumstances threaten public safety or governance.
According to the ruling, this authority may be exercised to prevent a serious breakdown of law and order or to stop conditions from deteriorating into chaos or anarchy.
The court emphasized that such powers are intended to safeguard national stability and ensure the continued functioning of democratic institutions when extraordinary situations arise.
It noted that emergency measures are justified only in exceptional cases where normal governance mechanisms are unable to effectively address escalating crises.
More details later…
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