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How Laolu Martins, Bukka Hut Boss Committed Suicide After Losing A Bet Review!
.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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Araraume Felicitates President Tinubu on his birthday. Hails his Reform Agenda and National Milestones
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Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising the President’s leadership style and the series of reforms that have shaped the direction of the country since he assumed office.
In a statement issued on Saturday, Araraume described President Tinubu as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that the President’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long term national development.
Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long‑standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.
He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.
Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long term vision for a more productive Nigeria.
The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programs aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.
On the diplomatic front, Araraume praised President Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.
“As we celebrate this milestone, it is important to recognize the resilience and determination with which President Tinubu has approached the task of nation building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”
He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”
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Araraume Salutes Tinubu’s Vision, Lists Key Achievements on Birthday
Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising his leadership style and the series of reforms that have shaped the country’s direction since he assumed office.
In a statement issued on Saturday, Araraume described the President as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that Tinubu’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long-term national development.
Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long-standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.
He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.
Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long-term vision for a more productive Nigeria.
The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programmes aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.
On the diplomatic front, Araraume praised Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.
“As we celebrate this milestone, it is important to recognise the resilience and determination with which President Tinubu has approached the task of nation-building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”
He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”
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APC Convention: Party Eyes Consensus for National Leadership Selection
The All Progressives Congress has confirmed that it plans to adopt a consensus approach for selecting its national leadership during the party’s convention scheduled for March 27–28, 2026, in Abuja.
The Assistant Secretary for Media and Publicity for the APC National Convention 2026, Mary Ikoku, disclosed the plan during an interview on Channels Television’s Sunrise Daily on Wednesday.
On the issue of elective positions during primaries, Ikoku said the party had not yet decided how these would be handled, noting that decisions may vary depending on local political dynamics.
She explained, “APC, for this convention, I am aware and can say that the party is adopting consensus for this convention. As to whether they are adopting consensus for elective positions, I do not have an answer to that because politics is local.
“So, I believe that, at the end of the day, when it comes to the issue of elective positions, the persons who would emerge aren’t often what you would want to make consensus in every space.”
Ikoku also addressed the Electoral Act’s provisions, which require political parties to register members online within a specified timeframe and outline acceptable methods for candidate selection.
She said these requirements posed challenges for some parties but reflected preparedness—or the lack thereof.
“We have an electoral law that defines the models for these elections. Direct primaries and consensus have been allowed, while indirect primaries have been taken out.
“That is the current law of the nation, passed and assented to. Now, why do you think other political parties will have issues with that?” she asked.
“That would be to say there are levels of unpreparedness of these political parties. Any political party that is worth its salt should not wait till election season to start preparing for the run for office and all of these congresses.
“It is something they would have planned ahead of time. So, when you are not proactive as a party, these kinds of situations can challenge you deeply,” she added.
Ahead of the convention, the party began screening aspirants for key positions in its National Working Committee , including National Chairman aspirant Nentawe Yilwatda and National Secretary hopeful Ajibola Basiru.
Other NWC members seeking to retain their posts include National Youth Leader Dayo Israel, Deputy National Chairman (North) Ali Bukar Dalori, National Legal Adviser Abdulkarim Abubakar Kana, National Woman Leader Mary Alile Idele, and National Publicity Secretary Felix Morka, among others.
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