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How Toke Makinwa’s Sugar Daddy, Festus Fadeyi Loses Mansions, Company Over N240bn Debt

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Always dressed to the nines in designer labels and living like a princess, this On-Air Personality has become the toast of many due to her ‘baby girl lifestyle’ which she flaunts on social media.

Though Toke Makinwa still lives like a ‘baby girl’ and even had a cosmetic surgery that gulped millions of naira, her big daddy, 73-year-old former oil mogul, Festus Fadeyi, who is also the chairman of Pan Ocean Corporation, an indigenous independent oil, and gas company, has become a former billionaire.

Already, he has lost his private home on Modupe Alakija, a street in Victoria Island, Lagos.

Not only that.

The mouth-watering mansion, which had served as the Fadeyi family’s home for several decades alongside others, has been confiscated by the Assets Management Corporation of Nigeria, AMCON.

The federal government agency took over Fadeyi’s Pan Ocean Corporation’s assets and those of its subsidiaries over bank loans totaling about N240billion.

Toke Makinwa

Other properties seized from him include 33b, Adebayo Doherty Street, off Admiralty Way Lekki Phase 1; FF Towers, Plot 13/14 Ligali Ayorinde Avenue, Victoria Island; No. 8, Modupe Alakija Crescent, Ikoyi; No. 14, Modupe Alakija Crescent, Ikoyi, Lagos; Ark Towers situated at No. 17, Ligali Ayorinde Avenue, Victoria Island, and Plot 5 and Plot 822, Samuel Manuwa Street, Victoria Island, Lagos.

Fadeyi was a director cum shareholder at Skye Bank.

The oil and gas businessman was sacked, alongside other members of the board of directors, by the Central Bank of Nigeria, CBN, due to the bank’s liquidity and non-performing loans.

But Pa. Fadeyi, a father of five, allegedly spent extravagantly on Toke.

For instance, in 2017, he allegedly bought her a brand new Range Rover 2016 model worth over N50 million.

He is also responsible for her acquisition of top of the line and very expensive designer bags, shoes and apparels. From Louboutin, Bottega, Chanel, Louis Vuitton to Hermes among others, Big god’ Fadeyi spoilt Toke silly with the most pricey stuff.

Thus the world’s most expensive designer brands became mere names on Toke’s list.

Whenever she visits London, United Kingdom (UK) via business class or first-class flights paid for by Fadeyi, she spared no expenses at the city’s posh shopping points.

It is very interesting to note that Fadeyi foots such outrageous bills for Toke while he wallows in loan debt to his bank.

Despite the opposition of his family to the relationship with the divorced social media celebrity, Fadeyi went headlong and invested emotions and good money.

In fact, it got to a stage that Fadeyi’s children declared war against her, warning her to leave their father alone.

Toke Makinwa was said to have benefitted immensely from Fadeyi, earning herself a plush apartment on Bank Road, Ikoyi.

Little wonder, some weeks ago, Toke posted on twitter, urging women to be financially free, writing on social media that she bought her dream house at 35!

She wrote in parts, “Dear woman, I see you, you rock, keep raising the bar. Keep shattering the ceiling, keep pushing that envelope.

Financial freedom is a “must” for us women, being able to do for yourself certainly has to be the goal, it’s nice to have help, it’s nice to come from wealth but it is important to raise women to believe that wealth is not gender-based

I am super proud of all the women out there steady building, I bought my dream home at 35, (not my first property) while there certainly isn’t an age cap, seeing young ladies do it in their 20’s is such an inspiration, I love you all, keep doing you.

Back to her ‘big god’ who has been stripped bare of his home and other properties, where does Pa Fadeyi go from here?

Meanwhile, Toke Makinwa is having a ball about town and still dishing out advice to girls on how to make money from ‘big gods.’

Kemiashefon Lovehaven

Society

Billionaire Femi Otedola’s mother, Christine, receives prestigious Papal honour…

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In a remarkable recognition of her selfless service to the Catholic Church and society, Mrs Christine Doja Otedola, mother of renowned businessman Femi Otedola, has been conferred with a Papal Honour by Pope Francis.

 

 

A Papal Honour, also known as a Pontifical Honour, is a prestigious award conferred by the Pope, the head of the Catholic Church, on individuals who have demonstrated exceptional service, dedication, and commitment to the Church and society.

 

The honour, one of the highest in the Catholic Church, was presented to Mrs Otedola by His Grace, Archbishop Alfred Adewale Martins of the Metropolitan See of Lagos, on behalf of the Pope, on September 14.

 

Mrs Otedola was specifically recognised in the Pro Ecclesia et Pontifice category, a testament to her unwavering commitment to the Church and humanity.

 

Femi Otedola took to his X page to celebrate his mother’s achievement.

 

 

Sharing photos from the ceremony and expressing his pride, he wrote: “Congratulations, Mummy – Dame Christine Doja, on your award of the Papal Honour of Pro Ecclesia et Pontifice by His Holiness Pope Francis. This is an honour well deserved.”

 

 

 

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Real Reasons ICPC Arrests El-Rufai’s Finance Commissioner, Shizzer Joy Nasara Bada At Lagos Airport

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Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos. 

 

 

 

Operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have arrested a former Commissioner of Finance and Accountant General in Kaduna State, under Nasir el-Rufai’s administration, Shizzer Joy Nasara Bada at the Lagos Airport.

 

 

Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos.

 

The ICPC officials said there was rising suspicion of a potential escape in the wake of mounting corruption allegations against the ex-governor el-Rufai, and herself.

Sources close to the government indicated to The Guardian that the ICPC had been tracking Bada’s movements after receiving an intelligence report suggesting that she might leave the country to evade investigation.

 

 

 

The arrest came as part of a broader crackdown on officials who served under el-Rufai’s administration, with multiple figures now under scrutiny for their roles in the alleged financial mismanagement of the state.

 

 

Already, el-Rufai has been indicted by the Kaduna State House of Assembly in its committee report of allegedly syphoning N423 billion from the state treasury. While the specific allegations against Bada remain under wraps, insiders believe they are connected to large-scale financial irregularities, including the mismanagement of public funds and alleged embezzlement.

Bada’s arrest has sparked widespread interest, with political observers questioning whether this could be the beginning of a wider probe into the former governor’s administration.

 

 

 

The Commission is expected to provide more details as the investigation unfolds, potentially exposing a web of corruption that could implicate several top figures.

Recall that Nasir El-Rufai, had also initiated a legal action against the Kaduna State House of Assembly following its claim that his administration misappropriated N432 billion during his eight-year tenure, resulting in significant state debt.

 

 

 

A fundamental rights suit was filed at the Federal High Court in Kaduna in June by the former governor’s attorney, Abdulhakeem Mustapha, a Senior Advocate of Nigeria.

 

 

 

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Pre-paid meter bills: Nigerians dump electrical appliances to cut cost  …..

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Usage of electrical appliances is one lifestyle Nigerians have come to embrace to achieve ease and save time in the various activities they perform in their homes.

 

 

During the era of pre-paid metres, gadgets such as electric stove, cooker, blenders, washing machines, boiling rings, pressing iron, deep freezers, among others, were highly purchased by households to either upgrade their kitchens or ease time in activities surrounding their lives.

 

 

Many especially women join thrift’s contribution (ajo or esusu as popularly known in Nigeria) to be able to raise money to purchase some of these items thereby putting smiles on the faces of producers and distributors of such gadgets.

 

However, the economy and lifestyle has discovered that many households have now abandoned the use of most of these gadgets since the introduction of prepaid meters.

 

Some ended up selling them to people selling fairly used products or other people still on post paid meters.

 

 

Mrs. Bridget Johnson, a banker said: “ Since I started using prepaid meter, I have stopped using most of my gadgets, especially the electric cooker, washing machine, pressing iron, among other things.

 

“We watch television set once a day. I had to buy an ipad where I downloaded various types of cartoons and educational materials for my kids to keep them busy.

 

“We switch off the lights and put on my fridge for three hours and switch it off once it is iced for a day.

 

“The rate at which the prepaid meter runs is alarming of recently.

 

 

Before I pay N32 per unit and when I load N10,000 with strict adherence to the rules my husband and I placed in the house it lasts us up to two weeks for the bills to get exhausted.

 

 

But recently, I discovered that when I loaded the N10,000 it wasn’t up to the two weeks before it finished.

 

“I had to call the electricity distribution office where they told me I had been transferred to band A.

 

“I was so pissed off with such a transition but had no choice than to accept it .

 

“In Nigeria of today you have to cut costs whether you like it or not.”

 

 

Mr. Shodimu Olorunfemi, a businessman, said: “Using a prepaid meter has its own advantages. “One of them is regulating what you consume.

 

“By doing so you have to forfeit carrying out certain lifestyles, especially using electronic gadgets that consume lots of electricity.

 

“Such gadgets like electric cooker, hot plate, pressing iron, refrigerator, Air conditioner, among others consume higher units of electricity.

 

 

In my house, I prohibited the switching on of lights during the day and also watching television all the time.

 

“Except I have a very important event I want to attend, I don’t iron my clothes. I pick the clothes for each day and hang them to straighten up.

 

 

My wife and I had to give out most of our gadgets to family members and friends who use post paid meters.

 

“With this development and the state of the economy, those selling electronic gadgets are on the losing side because people like us will not even have a spoilt gadget talk of buying a new one.”

 

For Mrs. Bakare Judith, a secretary and newly wed, she sold all her home appliances that consume high electricity units.

 

“I had to sell most of the electric gadgets I brought to my husband’s house when I discovered that he was using a prepaid meter.

 

 

I use the blender once in two months and ironing is done once in a blue moon.

 

 

 

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