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Here is Kola Aluko Total Net Worth

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Nigeria’s Kola Aluko $1 Billion Net Worth

Kola Aluko’s total net worth was estimated at about $1 billion before he fled the country amid numerous accusations of fraudulent oil dealings when President Muahammadu Buhari became President in 2015.

Kola Aluko is a Nigerian energy businessman with interests in African infrastructure development and aviation.

Born in Lagos Nigeria on October 20, 1969, Aluko was the Co-Chief Officer and an Executive Director of Atlantic Energy, an indigenous, private upstream oil and gas company that focused on independent exploration and production in Nigeria.

In November 2013, the New African Magazine included the energy businessman in its 100 most influential Africans list, while Forbes Africa ranked him as one of the 40 richest Africans and listed him among the top ten successful African entrepreneurs to follow on Twitter.

Kola Aluko Business Career

In 1995, Kola Aluko co-founded the very first oil trading company in Nigeria, Besse Oil. Besse oil traded crude oil and fuel oil and was a major importer of gasoline into Nigeria.

In 2001, Aluko founded another company called Fossil Resources, an indigenous downstream oil and gas company, where he held the role of CEO.

In 2004, Kola Aluko formed yet another company, Exoro Energy International, to finally move into exploration and production. As the CEO, he partnered with a division of Weatherford, to showcase its exploration and production technology.

In 2007 he bought the division of Weatherford and merged with Exoro Energy to form an independent company, Seven Energy.

In 2011, Aluko, with a team of Nigerian and international E&P executives, co-founded Atlantic Energy, a private upstream oil and gas company, with an increased focus on under-developed producing fields in Nigeria.

In partnership with the Nigerian Petroleum Development Company (NPDC) Atlantic Energy focused mainly on Niger Delta assets, contracted and executed under Strategic Alliance Agreements (SAAs) with the NPDC.

In 2010, Aluko diversified into the aviation industry, becoming a member of the VistaJet advisory board, assisting with the West-African expansion of the Swiss-based luxury aviation company.

Fraud Accusations

Aluko, Jide Omokore and Diezani Alison-Madueke, the former Nigeria Petroleum Minister, are currently being investigated for numerous multibillion-dollar fraud and money laundering offences in Nigeria, the United Kingdom and America.

Aluko sold a portion of his substantial overseas real estate holdings between 2015 and 2017 to prevent seizure by the US government and other government agencies engaged by the Nigerian authority to recover suspected looted funds.

In July 2019, the Federal Government of Nigeria and the United States Government sold his $48 million yacht believed to have been acquired with proceeds of fraudulent oil deals.

The 65-metre Galactica Star superyacht was once rented by Jay Z and Beyonce for a holiday cruise.

Presently, the U.S. Department of Justice has filed a civil complaint to forfeit and recover around $144 million in assets alleged to be proceeds of corruption offenses.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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FG Introduces NEXIT Portal for Npower Batch A and B Beneficiaries

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npower latest news

The Federal Government has introduced a new online portal for exited Npower beneficiaries of batch A and B.

According to the Minister for Humanitarian Affairs, Sadiya Farouq, the portal was launched in collaboration with the Central Bank of Nigeria (CBN) to enable exited Npower beneficiaries apply for available federal government empowerment options.

This was disclosed in a statement issued by Nneka Anibeze, the media aide to the minister, on Friday.

The ministry said the NEXIT portal will be used to determine the suitability of exited beneficiaries for various CBN-affiliated programmes.

She explained that selection will be based on the conditions and criteria set by the apex bank.

Ms Farouq, therefore, urged interested exited Npower beneficiaries to log on to the NEXIT portal and provide the required additional information for possible placements into central bank’s intervention options.

The Minister expressed her deep appreciation to the CBN Governor Mr Godwin Emefiele CON for his support adding that the Ministry of Humanitarian Affairs remained committed to the vision of Mr President to lift 100 million Nigerians out of poverty in the next 10 years.

“Minister Umar Farouq pledged the Ministry’s willingness to collaborate with relevant agencies of government and other stakeholders towards the realization of that vision and congratulated the exited beneficiaries while wishing them well in their future endeavours.

“The Federal Government of Nigeria is very proud of the milestones you have achieved during your period of service to the nation. As we prepare to exit into prospective endeavours.”

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Ellah Lakes Partner Ondo State Government to Develop Oil Palm, Cassava in the State

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The management of Ellah Lakes Plc said it has partnered with Ondo State Government to develop and manage 5000 hectares of land for the purpose of cultivating oil palm and cassava in Ondo State, Nigeria.

The company stated in a statement signed by Kenechi Ezezika, Company Secretary, Ellah Lakes Plc.

Speaking on the development, the Chief Executive Officer, Chuka Mordi said: “This is a significant landmark for the Company in the development of our landbank, & we are very excited to be working with ODSG.

I am delighted that we are fulfilling our strategic objective of progressively expanding our land bank & diversifying our portfolio and production base. I am also glad to say that the intercropping programme in Edo State is progressing steadily & we have achieved our first milestone of 100Hectares of Cassava with the participation of personnel of the Agricultural Development Program (ADP), in Edo State”.

The Special Adviser on Development & Investment to the Ondo State Governor/ Chief Executive Officer of Ondo State Development and Investment Promotion Agency (ONDIPA), Mr. Akinboye Oyewumi, who also spoke on the development said: “We are pleased with this collaboration with Ellah Lakes Plc., and we look forward to a mutually beneficial, valuable and fruitful venture.”

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Unilever Nigeria Appoints Mr Jaime Aguilera as a Non-Executive Director

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Unilever Nigeria Plc

Unilever Nigeria Plc announced it has appointed Mr. Jaime Aguilera as a Non-Executive Director of the company effective from January 2021.

The company stated in a statement filed with the Nigerian Stock Exchange.

Mr Jaime Aguilera worked with Coca-cola, Nestle and Procter & Gamble before joining Unilever as Executive Vice President Unilever Eastern Europe in September 2016.

Therefore, his experience spans from Europe, Americas and Asia.

His key expertise areas are “in Sales & Marketing and he has lead teams in Spain, Brazil, South Eastern Europe, Middle East, Mexico and Global teams.

“In 2009, he joined Unilever Spain as EVP & Chairman and then moved to his current role as Unilever Executive Vice President Africa, leading the Unilever business in Africa. Jaime is of Spanish origin and is an alumnus of the Universidad Pontificia de Comillas- ICADE. Jaime majored in Economic Sciences, Management & Business Administration.”

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