Mike Adenuga Mike Adenuga Jr (born April 29, 1953 in Ibadan, Nigeria; full name Michael Adeniyi Agbolade Ishola Adenuga) is a Nigerian business tycoon who is regarded as one of the richest black people in the world. His company Globacom controls Nigeria’s second-largest telecom operator, he also owns stakes in the Equitorial Trust Bank and oil exploration firm Conoil (formerly Consolidated Oil Company). Forbes has estimated his net worth at $4.3 billion as of March 2013[1] which makes him second wealthiest Nigerian behind Aliko Dangote Early Life and Education The Oloye Adenugas father Michael Agbolade Adenuga Sr. was a school teacher, his mother Juliana Oyindamola Adenuga (née Onashile of Okesopin, Ijebu Igbo) a businesswoman of royal Ijebu descent. A man with humble beginnings, he received his secondary school education at the Ibadan Grammar School. He worked as a taxi driver to fund his education while studying at University.[2] He eventually graduated from Northwestern Oklahoma State University and Pace University, New York with degrees in Business Administration. Career In 1990, he received a drilling license and in 1991, his Consolidated Oil struck oil in the shallow waters of Southwestern Ondo State, the first indigenous oil company to do so in commercial quantity. He was issued a conditional GSM licence in 1999; after it was revoked he received a second one when the government held another auction in 2003.[3][4] His telecom company Globacom spread quickly and started challenging the giant MTN Group. It launched services in the Republic of Benin in 2008, and has continued its spread across Ghana and Cote d’Ivoire, with more licences currently being prospected in other West African countries. He was named African Entrepreneur of The Year at the maiden African Telecoms Awards (ATA) on August 15, 2007.[5] In 2009, Adenuga was detained for money laundering by the Economic and Financial Crimes Commission. Adenuga left the country and lived in London until the Umaru Musa YarAdua regime granted him a pardon.[6] In 2012 he was made Grand Commander of the Order of Niger (Nigeria).[7]
Posted on: Mon, 11 Aug 2014 22:10:56 +0000
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