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Billionaire Businesswoman Folorunsho Alakija Reportedly Goes Blind After Near Air Incident

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Nigerian billionaire Folorunso Alakija has lost her sight, according to medical sources involved in her care.

Sources revealed to SaharaReporters that the 73-year-old founder and Executive Vice Chairman of Famfa Oil began experiencing health issues after a near air mishap. She was travelling with her husband, Modupe Alakija, Chairman of Famfa Oil, when the incident caused a spike in her blood pressure.

The distressing event is said to have affected her vision.

Following the incident, Alakija reportedly ordered a new jet to avoid travelling on the same flight as her husband. However, her vision continued to deteriorate until she ultimately lost her sight completely.

“She had a near air mishap with her husband on board and her blood pressure reportedly shot up affecting her eyes,” one of the sources said.

“She has been having eyesight issues but instead of treating the illness, she chose to start a church to help her.

“Now she can’t see.”

Folorunso Alakija is a Nigerian billionaire businesswoman and philanthropist who began hosting a small fellowship in her home around 2004, which eventually grew into the Rose of Sharon Glorious Ministry International. On her 69th birthday, she was ordained as an Apostle.

She is the founder of Famfa Oil, a Nigerian company with a significant stake in OML 127, a highly profitable oil block located on the Agbami deep water oilfield in Nigeria.

According to Forbes, her net worth was estimated at $1 billion as of 2020. In 2015, she was ranked as the 87th most powerful woman in the world by Forbes and was one of only two African women on Forbes’ list of the richest people in Africa.

Alakija pursued secretarial studies at Pitman Central College in London in the 1970s. She began her career as an executive secretary at Sijuade Enterprises in Lagos in 1974.

Her wealth is reflected not only in her business ventures but also in her taste for luxury.

One of the aircraft linked to her is a Bombardier Global Express XRS (model BD-700-1A10) with serial number 9416, registered to Wings of Grace Limited on November 25, 2011. This jet has the tail number VP-CEO.

Flight records show that it departed from the Murtala Muhammed International Airport in Lagos on February 26 for an undisclosed location.

She also owns a Bombardier Global Express 6000 private jet known for its long-range capabilities and luxurious amenities. It offers a range of up to 6,000 nautical miles with a cruising speed of Mach 0.89.

The jet’s cabin is designed for maximum comfort, featuring advanced entertainment systems, fully equipped workspaces, and premium seating. This aircraft is registered under the tail number VP-CTO.

Records obtained by SaharaReporters show that it departed Lagos at 11:34 WAT on February 24 and arrived in London, UK at 4:18 GMT on February 25.

Folorunso Alakija is involved in several companies, including Famfa Oil Limited, Rose of Sharon Group and Dayspring Property Development Company Limited.

 

Background

Alakija’s first company was a fashion label whose customers included the wife of former dictator Ibrahim Babangida.

The Nigerian government awarded Alakija’s company an oil prospecting licence in 1993, which was later converted to an oil mining lease.

The Agbami field has been operating since 2008.

Folorunso Alakija’s journey to acquiring an oil block is closely linked to her connection with Maryam Babangida, the late wife of the former dictator.

In the late 1980s, Folorunso Alakija was a successful fashion designer, running a high-end fashion label, Supreme Stitches, which catered to Nigeria’s elite, including Maryam Babangida.

Through her fashion business, Alakija developed a close relationship with Maryam, who was influential as Nigeria’s First Lady at the time.

In 1993, Folorunso Alakija applied for an oil prospecting licence. At that time, Nigeria’s military government was granting oil blocks to indigenous companies to encourage local participation in the petroleum industry.

She was awarded an Oil Prospecting Licence (OPL) by General Babangida’s regime.

It is widely believed that her close relationship with Maryam Babangida played a significant role in securing the license.

Initially, the oil block was considered high-risk and of low value. However, after partnering with Texaco (now Chevron) for exploration, it was discovered to contain significant reserves, transforming it into one of Nigeria’s most lucrative oil blocks.

This discovery drastically increased her wealth, making her one of the richest women in Africa.

The Nigerian government attempted to reclaim the oil block in 2000, but Alakija fought a legal battle to retain her stake. In 2008, the Nigerian Supreme Court ruled in her favour, restoring her 60% share in the block.

So her connection with the Babangida family played a pivotal role in her journey from a fashion entrepreneur to a billionaire oil magnate.

IBB Book Launch

On February 20, 2025, Alakija attended the launch of Babangida’s book, A Journey in Service, held at the Transcorp Hilton Hotel in Abuja. The event also served as a fundraiser for the IBB Presidential Library. While Alakija made a donation, she chose not to publicly disclose the amount.

The event was graced by numerous dignitaries, including President Bola Tinubu, former Nigerian leaders Olusegun Obasanjo, Goodluck Jonathan, Yakubu Gowon, and Abdulsalami Abubakar, as well as former Vice Presidents Atiku Abubakar, Namadi Sambo, and Yemi Osinbajo. Notable business figures such as Aliko Dangote and Abdulsamad Rabiu also attended, with Dangote pledging N8 billion, which could rise by a further N2 billion annually if the project extended beyond four years and Rabiu donating N5 billion towards the library project.

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UK-Based Nigerian Woman Accuses Ogun Monarch Of Marriage Scam Involving N65Million, N120Million In Gold, Other Valuables

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A UK-based Nigerian woman has accused a traditional ruler, Oba Adekeye Adeyemi Olanrewaju, the Abepa of Joga Orile, Yewa North, Ogun State, of using marriage as a ploy to defraud her.

The woman, identified as Christy Oluwabunmi, claims that the monarch exploited her trust, leading to financial and material losses amounting to hundreds of millions of naira.

She told SaharaReporters that the monarch later went ahead to help her obtain a forged divorce certificate to leave her former husband so that the monarch could marry her.

“Kabiyesi went to forge a divorce certificate for me to leave my husband and also took me to the court registry to formalise my marriage with him.

“It was later I realised this is his usual way of deceiving women. In fact, it was later I knew no fewer than five women were once his victims. He always preyed on wealthy ones like me,” the woman told SaharaReporters in a telephone conversation.

In petitions submitted to the Osun State Governor; Ondo State Governor; Chairman of the Economic and Financial Crimes Commission (EFCC), Inspector General of Police, and Director General of the State Security Service (SSS), otherwise known as Department of State Services (DSS), and the Chairman of Ogun Council of Obas, Ms. Oyewole narrated how Adekeye Adeyemi approached her on June 30, 2022, with romantic advances, promising marriage and financial stability.

“He pretended to be in love with me, vowing to marry me and support my business. Eventually, I was manipulated into transferring over N53 million via electronic transactions, N12 million in cash, mobile phones worth N10.8 million, and gold valued at N120 million,” she wrote in the petition, attaching receipts as evidence.

The victim further alleged that after extorting her, the traditional ruler attempted to lure her into a dubious ritual in Ekiti State, where she was told she would need to sacrifice an eye or a leg to attain financial prosperity.

Realising she was being deceived, she resisted, only to find herself financially ruined and abandoned.

In a shocking revelation, she claimed the monarch had forged a divorce judgment and had used the same fraudulent scheme on at least three other women.

When she demanded a refund of her money and valuables, he allegedly threatened her life, boasting about his influence and ties to cultists and thugs.

“He has converted my hard-earned money, gold, phones, and valuables to his personal use unlawfully. All efforts to retrieve them have proved abortive. Instead, he threatens to kill me, claiming nothing will happen because he is a king,” she alleged.

In her petitions, she wrote, “That one Adekeye Adeyemi Olanrewaju approached me on 30th day of June, 2022 with a confidence trick, pretended to be romantically interested in me when he claimed and vowed that he would marry me being a single mother struggling alone to cater for myself and children without husband.

“It was thereafter revealed to me that the suspect has been using same style to defraud single women who are blessed with wealth. The suspect had used the similar criminal style to defraud three different ladies who were later threatened to be killed if the matters were reported to the law enforcement agencies.”

She said she was hypnotised to an extent of being defrauded of more than N53 million via electronic transfer, cash of N12 million, mobile phones worth N10.8 million, gold worth N120 million “under the false pretences to help me boost, develop my business and rebrand my financial status and repertoire”.

As of the time of filing this report, Oba Adekeye Adeyemi has not responded to the allegations.

He did not answer multiple phone calls and has yet to react to a follow-up message.

Sahara Reporters

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Just In: DSS arrests Kogi politician, Usman Okai

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The Department of State Services, DSS, has arrested a former House of Representatives member for the Dekina/Bassa federal constituency, Comrade Usman Okai Austin.

Activist politician, Omoyele Sowore disclosed that DSS operatives, in a gestapo manner, picked up Okai from his residence on Wednesday.

Posting on X, Sowore said Okai was arrested for expressing views against Governor Usman Ododo of Kogi State.

Okai has been very vocal against the alleged ills of Ododo’s administration.

Recently, Okai charged Ododo to curb what he described as the “unchecked and excessive powers” of the state’s Accountant General, Habiba Onumoko.

Okai accused the accountant general of overstepping her constitutional role, alleging financial mismanagement and undue interference in governance.

He said the accountant generals “cabal has taken over” Ododo’s administration.

 

 

 

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Death of Adebanjo: Afenifere appoints new leader

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Following the death of its leader, pan-Yoruba socio-political group, Afenifere, has appointed a new leader: Oba Oladipo Olaitan.

A communique issued after its monthly general meeting at the country home of Adebanjo in Isanya Ogbo, Ogun state, confirmed this.

The communique of the meeting, attended by delegates from the six South West states, Kogi, Kwara, and Delta States, which was signed by its Secretary General, Chief Sola Ebiseni and it’s National Publicity Secretary, Justice Faloye, said: “Oba Olaitan will function as the Leader in acting capacity till after the final burial of Papa Ayo Adebanjo when he will assume the office as substantive Leader.”

It said: “Oba Olaitan was called to the Nigerian Bar as a lawyer in 1971, a Political Adviser to Governor Lateef Jakande and a member of the Lagos State Executive Council 1979-1983; elected Member House of Representatives and Leader of AD in the House 1999-2003.

“He has been a member of Afenifere for over 45 years serving in various capacities including the National Financial Secretary under the leadership of Chief Reuben Fasoranti and Deputy Leader under Chief Ayo Adebanjo.”

In his acceptance speech, Oba Olaitan said he is “committed to the ideals of Afenifere as a social-political organisation and unrelenting advocate of restructuring and true federalism adding that he would ensure the unity of the organisation”.

 

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