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How Laolu Martins, Bukka Hut Boss Committed Suicide After Losing A Bet Review!

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.On Wednesday, September 28, 2022 will not be forgotten in a hurry as it was a very sad day as a very sad day for family members, friends and well wishers of one of the owners of a popular restaurant chain, Bukka Hut, Laolu Martins as he reportedly committed suicide in the early hours of the day.

While many were still confused about his sudden death, a renowned theatre producer and investment banker, Joseph Edgar, aka The Duke of Shomolu confirmed that the CEO of NISL Ventures slipped into depression after losing a bet.

The family of Laolu Martins said in a statement that was released on Wednesday that the quintessential banker with over 21 years of experience in investment banking, corporate banking, stockbroking, asset management and pension fund management, died in the evening of Tuesday, September 27, 2022.

“We hereby solicit the support and understanding of everyone as the family grieves the loss of our beloved Laolu in our privacy.

“Our kind request is that you support the family – wife, children, aged mother and father and his siblings with your prayers at this difficult time.

“Further announcements will be made by the family,” the statement said.

Martins started his career with PricewaterhouseCoopers in 1999.

He joined Investment Banking & Trust Company Plc now Stanbic IBTC Bank Plc where he served in the Financial Control and Trade Finance/Foreign Operations units of the Bank before being seconded to Stanbic IBTC Asset Management Ltd where at various times he was Financial Controller, Head Asset Management and lastly Head Stockbroking.

He later resigned in 2005 to join Shell Nig. CPFA Ltd, the Fund Manager of the Shell Companies in Nigeria Pensions Scheme where he was Head, Investments up till 2008 when he resigned to join Nigeria International Security Limited, NISL, an independent financial services firm specialising in investments within the Nigerian space.

In a tribute titled; “Laolu Martins – sad end to a beautiful life,” Edgar wrote:

“I just got a call from my sister Ore. Edgar see what i am seeing o. Pls check if its true.

“It was a post about Laolu. He was said to have committed suicide at 3am this morning in Lekki.

“I screamed. Made a call and confirmed the incident.

“They said he had taken a bet against the dollar and with this rubbish going on in the forex markets he lost big time and may have slipped into a depression leading to this.

“These are not confirmed but what is confirmed is that Laolu is no more.

“Laolu was brilliant. A stockbroker, Asset Manager and an Investment banker.

“I first met him while he was at Shell Trustees. He was a brilliant Fund manager who used to give me business.

“I was then in BGL and had pencilled down Shell Trustees, First Trustees and NPA Superannuation Fund to break

“I had broken the other two with First Trustees where the super brilliant Ekure was the MD and NPA where the late man about town Henry Abebe was head

“But Shell was tough. You cdnt even enter their office talkless of breaking anything.

“So, i got Laolu’s email and sent him a passionate mail telling him why he needed my services if he was going to make a mark at Shell.

“He replied and gave me an appointment and there started a beautiful friendship.

“I watched him grow. Saw him aquire NISL and go into the Fast Food business with his partners as they opened Buka Hut all over the place.

“He started supporting my plays and he will be calling me to ask if i wont come for sponsorship since his money was ‘small’.

“Then i stopped hearing from him. Calls where not returned but i didn’t mind since i could see that he was doing well.

“They had just opened a new outlet at keffi and i was proud of him and his people

“Then i went to eat Afang at the new Just Afang restaurant in Ikoyi beside his office and branched to ask him to join me.

“He wasn’t in the office and still didnt take my calls so i left him since i didnt even knw the cost of the Afang bf i go and shoot myself

“So you can imagine my shock as i hear this story this morning. This last night o, Laolu jumped and left.

“Whatever has led to this, is really not worth it. But then again, people have different constitutions and mental aptitude

“This is why we must be kind to each other. Reach out, call people ask after their well being

“Much more importantly. If you have a problem, shout. Ask for help, seek advice. Dont be quiet shout.

“If Buhari with all the problem of this country on his head is still seating comfortably in Aso rock with tootpick in his mouth, why would you now with your own small problem come and jump

“This is really sad. Really really sad.

“Kai. May his soul rest in peace.”

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Update : UK Lauds Nigeria’s Recovery Under Tinubu, Urges Others to Learn

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The United Kingdom (UK) has commended the economic reforms being implemented by President Bola Ahmed Tinubu’s administration, describing Nigeria’s ongoing recovery as a success story that other countries can draw inspiration from.

The UK National Security Adviser, Jonathan Powell, made the remarks on Tuesday at the opening of the 4th UK-Nigeria Security and Defence Partnership Dialogue, held at Nigeria’s Office of the National Security Adviser in Abuja.

Powell said the reforms had required difficult decisions but were beginning to yield tangible results in economic growth and recovery.

“The economic reforms undertaken by the government have not been easy, but the remarkable progress Nigeria is making today in terms of growth and economic recovery demonstrates that difficult decisions can produce significant results. It is a success story from which many can draw inspiration,” he said.

The UK official described Nigeria as an “African superpower” whose influence and strategic importance would continue to grow as its population, capabilities and economic strength expand.

“For the United Kingdom, Nigeria is a vital partner—our foremost partner in Africa. Nigeria is an African superpower, a nation that is already influential and one whose importance will continue to grow,” he said.

According to Powell, the UK has strong confidence in Nigeria’s future and remains committed to deepening bilateral relations through a partnership founded on mutual respect, shared objectives and practical outcomes.

“We want that relationship to be a mature and equal partnership, one in which we share strategic objectives and work together to deliver tangible outcomes.

“We have immense respect for Nigeria’s leadership role within the country, across the region and throughout Africa, and we are committed to supporting that leadership,” he added.

Powell also acknowledged the professionalism and dedication of Nigeria’s security services in addressing the country’s security challenges, stressing that Nigeria remains indispensable to regional stability and collective security.

“Nigeria remains central and indispensable to regional stability and collective security. There is simply no substitute for Nigeria’s role in promoting peace and stability across West Africa and beyond,” he said.

He expressed satisfaction with the continued success of the UK-Nigeria Security and Defence Partnership Dialogue, describing it as a cornerstone of the two countries’ growing security cooperation.

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El-Rufai Confesses to Intercepting NSA Communications

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A Federal High Court in Abuja yesterday heard that former Kaduna State Governor Nasir El-Rufai admitted, in a television interview, that he intercepted the phone conversations of the National Security Adviser (NSA), Nuhu Ribadu.

The second prosecution witness in El-Rufai’s ongoing trial, Deji Adeyanju, told the court that he was at the same television station, awaiting his turn to be interviewed on February 16, the day El-Rufai allegedly made the administration on the same station.

Led in evidence by the prosecution’s lawyer, Oluwole Aladedoye (SAN), the witness quoted El-Rufai as saying in the course of the television interview: “We listened to the conversations of the NSA.”

El-Rufai is being prosecuted by the Department of State Services (DSS) over his alleged contravention of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act (2024) and the Nigerian Communications Act (2003) following his alleged interception of Ribadu’s phone conversations and compromising public safety, national security and instilling reasonable apprehension of insecurity among Nigerians.

Adeyanju, a subpoenaed witness, said he knew El-Rufai as a former governor of Kaduna State, adding that he issued a statement following reports that the former governor was to be arrested by security operatives.

Shortly after the television interview in which El-Rufai featured was played in the open court, Adeyanju confirmed it to be the one he saw in which the ex-governor allegedly admitted to the act.

Aladedoye also tendered a video recording of the interview featuring Adeyanju, which the court admitted.

Adeyanju said the DSS invited him after television interview and was asked to explain what happened while he was at the television studio.

The witness said he told investigators that he was present when El-Rufai made the statements on air and that when pressed further, in the course of the interview, the ex-governor said someone did the phone tapping and passed the information to him.

During cross-examination by El-Rufai’s lawyer, Paul Erokoro (SAN), Adeyanju said he did not hear El-Rufai specifically say he hacked Ribadu’s phone lines but that he heard him say, “We listened to the conversations of the NSA.”

When asked whether or not he knew the means through which the NSA makes calls and if he would be surprised to learn that DSS investigators did not ask the NSA which of his devices was allegedly compromised, the witness said those were not his business.

The prosecution tendered an official gazette without objection from the defence. Following this, the court admitted it in evidence.

Justice Joyce Abdulmalik has adjourned further hearing till today.

El-Rufai is facing a three-count charge.

* That you, Mallam Nasir El Rufai, adult, male, on February 13, 2026, while appearing as a guest on Arise TV station’s “Prime Time” programme in Abuja, within the jurisdiction of this court, did admit during the interview that you and your cohorts unlawfully intercepted the phone communications of the National Security Adviser, Nuhu Ribadu, and thereby committed an offence contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc) Amendment, Act, 2024.

* That you, Mallam Nasir El-Rufai, adult, male, on February 13, 2026, while appearing as a guest on Arise TV station’s “Prime Time” programme in Abuja, within the jurisdiction of this court, did state during the interview that you know and relate with certain individual, who unlawfully intercepted the phone communications of the National Security Adviser, Nuhu Ribadu, without reporting the said individual to relevant security agencies and thereby committed an offence, contrary to and punishable under Section 27 (b) of the Cybercrimes (Prohibition, Prevention, etc) Amendment, Act, 2024.

* That you, Mallam Nasir El-Rufai, adult, male, and other still at large, sometime in 2026, in Abuja, within the jurisdiction of this court, with others still at large did use technical equipment or systems which compromised public safety, national security and instilling reasonable apprehension of insecurity among Nigerians by unlawfully intercepting the phone communications of the National Security Adviser, Nuhu Ribadu, to which you admitted during an interview on February 13, 2026, on Arise TV station’s “Prime Time” programme in Abuja and thereby committed an offence, contrary to and punishable under Section 131(2) Nigerian Communications Act 2003.

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Major Legal Blow as Court Orders Deregistration of ADC, Accord, Three Other Parties

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The Federal High Court in Abuja has ordered the Independent National Electoral Commission (INEC) to deregister the African Democratic Congress (ADC) and four other political parties.

The other political parties the court directed the electoral body to deregister are the Action Peoples Party (APP), Action Alliance (AA), Accord Party (AP), and Zenith Labour Party (ZLP).

The court order followed a judgment delivered by Justice Peter Lifu.

The National Forum of Former Legislators had, in the suit marked FHC/ABJ/CS/2637/2026, prayed the court to determine whether INEC has a constitutional obligation to remove political parties that fail to meet the electoral performance thresholds set out in Section 225A of the 1999 Constitution (as amended), as reinforced by the Electoral Act 2022 and INEC’s regulations.

It was the position of the plaintiff that the five political parties listed as defendants in the matter had persistently failed to meet the constitutional benchmarks required to retain their registration.

The former legislators stressed that the requirements include winning at least 25 per cent of votes in a state during a presidential election or securing at least one elective seat at the national, state, or local government level.

They told the court that the ADC and the four other parties performed poorly in both the 2023 general elections and by-elections conducted by INEC, thereby failing to win seats across key tiers of government.

The litigants insisted that the continued existence of the ADC and the other defendants as recognised political parties is unlawful and undermines the integrity of the country’s electoral system.

Among other reliefs, the plaintiff urged the court to declare that INEC is duty-bound to deregister such parties.

It further urged the court to compel the commission to deregister the five political parties before preparations for the 2027 elections advance further.

Beyond declaratory reliefs, the plaintiff prayed the court to restrain the five affected parties from participating in general elections or engaging in political activities such as campaigns, rallies, and primaries.

It also sought a court injunction restraining INEC from recognising or dealing with the parties in any official capacity unless and until they strictly comply with constitutional provisions.

The judgment may affect the chances of candidates of the affected political parties, including former Vice President Atiku Abubakar, to contest the 2027 presidential poll.

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