BIOGRAPHY OF WALE ADENUGA

BIOGRAPHY OF ADENUGA

BACKGROUND

Michael Adeniyi Agbolade Ishola Adenuga was born on the 29th of April, 1953 to Oloye Michael Agbolade Adenuga Snr and Omoba Juliana Oyindamola Adenuga (née Onashile, of Okesopin, Ijebu Igbo), in Ibadan, Oyo State.His father, the Oloye Michael Agbolade Adenuga Sr, was a school teacher while his mother, Omoba Juliana Oyindamola Adenuga was a businesswoman of royal Ijebu descent. It is safe to say that Mike Adenuga inherited his business sense from his mother who was a businesswoman from royal Ijebu descent.

EDUCATION

Adenuga  attended Ibadan Grammar School for his secondary school education and proceeded to Comprehensive High School Aiyetoro for his Higher School Certificate. He received his secondary school education at Ibadan Grammar School, Ibadan, and Comprehensive High School, Aiyetoro, for his Higher School Certificate (HSC). He worked as a taxi driver to help fund his university education.^[8] He graduated from Northwestern Oklahoma State University and Pace University, New York, with degrees in Business Administration.

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CAREER

Mike Adenuga’s career path was not an easy one as one would think. The billionaire started out as a taxi driver in New York hustling to pay for his university tuition. At some point, he sold soft drinks and lace material. For Mike Adenuga, once the business is legal and he understands it and it can generate revenue, he is good to go.We can say that fate smiled on Mike. He was one of the beneficiaries of the new policy made by Professor Jubril Aminu, the oil minister during Babangida’s regime. The policy allowed individuals to engage in the business of oil exploitation and exploration. 

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He was issued a conditional GSM licence in 1999; after it was revoked he received a second one when the government held another auction in 2003. His telecom company Globacom spread quickly and started challenging the giant MTN Group. It launched services in Benin in 2008, and has continued its spread across Ghana and Côte d'Ivoire, with more licences currently being prospected in other West African countries.

SEE ALSO:- Biography of Wole Soyinka

He was named African Entrepreneur of The Year at the first African Telecoms Awards (ATA) in August 2007.

In 2009, Adenuga was detained for money laundering by the Economic and Financial Crimes Commission. He subsequently left the country and lived in London until the Umaru Musa Yar'Adua regime granted him a pardon.

In May 2015, Adenuga made a takeover bid to purchase Ivorian mobile telecom's operator Comium Côte d'Ivoire for $600 million.

In June 2016, it was revealed that Adenuga was being pursued for a combined debt of US$140.5 million, after his company ConOil failed to pay debts owed to, among others, the French oil giant Total. Bellbop, another company owned by Adenuga, had an interim injunction placed on it by the High Court in Lagos, after it too failed to pay the $9.4 million owed to the US oil and gas firm Baker Hughes.

HONOURS

1. Grand Commander of the Order of the Niger - In 2012, by the government of Nigeria.

2. He held a Yoruba tribal chieftaincy as the Otunba Apesin of the Ijebu clan.

3. He was decorated with the insignia of a Commander of the Legion of Honour - In 2018, by President Emmanuel Macron of France.

4. African Entrepreneur of The Year at ATA -  2007

5. Companion of the Star of Ghana (CSG)  - 2018
6. 100 distinguished and Eminent Nigerians Centenary Awards -  2018