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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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Renewed Hope : No governor can complain of lack of funds under Tinubu’s administration, Says Sanwo-Olu,
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Lagos State Governor, Babajide Olusola Sanwo-Olu, has declared that under the administration of President Bola Ahmed Tinubu, no state governor or local government chairman can genuinely complain of a lack of funds.
He said the Tinubu administration has significantly increased allocations to subnational governments, ensuring that states and local councils have more resources to meet their developmental obligations.
Sanwo-Olu stated this on Tuesday, November 11, while delivering the keynote address at a one-day public lecture organized by the Arewa Think Tank (ATT) to commemorate Nigeria’s 65th Independence anniversary at the Arewa House, Kaduna.
The lecture, themed “65 Years of Nigeria’s Independence: The Journey So Far with the Renewed Hope Agenda in View,” brought together political leaders, academics, youth groups, and other stakeholders to reflect on Nigeria’s national progress and future under President Tinubu’s Renewed Hope Agenda.
The Lagos Governor praised the resilience and ingenuity of Nigerians since independence, noting that despite the country’s challenges, its capacity for growth, reform, and unity remains unmatched.
“Today, that story has changed. Ask any State Governor or Local Government Chairman, and they will tell you just how much revenue has surged under the watch of President Bola Ahmed Tinubu. There is now more money to do more that benefits the people of Nigeria,” Sanwo-Olu said.
He attributed the improved fiscal outlook to deliberate policy reforms by the Tinubu administration, particularly those designed to strengthen federalism and empower the states and local governments.
According to him, between 2023 and 2024, federal allocations to state governments rose by about 62 percent, while allocations to local governments increased by 47 percent. He said the recently enacted tax reforms, which reduced the Federal Government’s share of Value Added Tax (VAT) from 15 percent to 10 percent, further underscored the President’s commitment to fiscal decentralization and grassroots development.
“With the new tax laws, states now get 55 percent of VAT, while local governments receive 35 percent. This is another bold step by the President to ensure that governance is closer to the people,” he noted.
Sanwo-Olu also lauded the President’s insistence on local government financial autonomy, recalling the administration’s Supreme Court victory, which secured historic legal backing for that autonomy.
He disclosed that President Tinubu’s next major reform focus is restructuring Nigeria’s security architecture through the creation of State Police, an initiative he described as “long overdue and fundamental.”
Citing Tinubu’s recent remarks during a meeting with Katsina leaders, Sanwo-Olu quoted: “I am reviewing all aspects of security. I have to create a State Police. We are looking at that holistically. We will defeat insecurity.”
He described the Renewed Hope Agenda as a bridge-building framework aimed at uniting Nigeria’s diverse regions through equity, reform, and inclusive development.
“President Tinubu is a veteran unifier and a bridge-builder. His Renewed Hope Agenda is about connecting Nigeria, bridges of reform, prosperity, and national unity,” he said.
Drawing inspiration from Nigeria’s founding fathers, especially the late Sir Ahmadu Bello, the Sardauna of Sokoto, Sanwo-Olu emphasized that true national development must be homegrown and context-specific.
“More than six decades later, Sardauna’s words still ring true. Our duty is to build on those legacies, planting trees we may not sit under, but ensuring a better Nigeria for future generations,” he said.
He reaffirmed that Nigeria’s diversity remains its greatest strength, saying: “We will continue to affirm that Nigeria is a proudly multi-ethnic, multi-religious, and multicultural country. What binds us together is far stronger than what divides us. We shall overcome every challenge, poverty, hunger, and terrorism.”
Sanwo-Olu pledged Lagos State’s continued partnership with the Federal Government in actualizing the Renewed Hope Agenda and building a prosperous, inclusive, and resilient nation.
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Organ Transplant Scandal : Tinubu engages UK, seeks Ekweremadu’s transfer to Nigeria
President Bola Tinubu has sent a high-level delegation to London to discuss the case of a former Deputy Senate President, Ike Ekweremadu, who has been serving a prison sentence in the United Kingdom since March 2023.
Newsthumb gathered that the Federal Government is actively seeking arrangements that would allow Ekweremadu to serve the remainder of his sentence in Nigeria.
The delegation, which included the Minister of Foreign Affairs, Yusuf Tuggar, and the Attorney General and Minister of Justice, Lateef Fagbemi, on Monday held discussions with officials at the UK Ministry of Justice regarding Ekweremadu’s incarceration.
Following the meeting, the team was received at the Nigerian High Commission in London by the Acting High Commissioner to the UK, Ambassador Mohammed Maidugu.
Confirming the development to Arise News on Monday night, the spokesman for the Foreign Affairs Minister, Alkasim AbdulKadir, said the consultations with UK authorities are ongoing.
He added that a formal request for a prisoner transfer to allow Ekweremadu to serve the remainder of his sentence in Nigeria has been submitted.
He said, “Consultations are still ongoing with UK authorities on the matter.
“An appeal for a prisoner exchange for him to serve the remainder of his term in Nigeria was tabled before the United Kingdom authorities.”
Our correspondence earlier reported that Ekweremadu and his wife were arrested by the London Metropolitan Police in June 2022, after a man was falsely presented to a private renal unit at Royal Free Hospital in London as a cousin to their daughter Sonia, in what turned out to be a failed attempt to persuade medics to carry out an £80,000 transplant.
Ike Ekweremadu was convicted in the UK for his role in organ trafficking after attempting to bring a 21-year-old Lagos street vendor to Britain for a kidney transplant intended for his daughter, Sonia.
The 21-year-old man, who was allegedly promised work in the UK, reported the matter to the police in May of the same year, stating that he was brought to the country for an organ transplant.
In March 2023, Ekweremadu was found guilty of organ trafficking by a UK court and was later, in May, sentenced to nine years and eight months under the UK Modern Slavery Act.
His wife, Beatrice, received a four-year and six-month sentence and was released early in 2025, while a medical intermediary, Dr Obinna Obeta, was handed a ten-year prison term.
However, in January, Beatrice was released from prison and returned to Nigeria.
The case drew widespread attention, sparking diplomatic discussions between Nigeria and the UK, exposing gaps in transplant regulations, and prompting further investigations in the UK.
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Warri- Itakpe train derailment: Police parade suspects, CP Kwaimo, Says vandalism is an economic sabotage
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Warri- Itakpe train derailment: Police parade arrested suspects … this act of vandalism is an economic sabotage – CP Kwaimo
…… Railway properties are critical national assets and not scraps, we are going to deploy technology for rail tracks monitoring – Opeifa
The Railway Command of the Nigeria Police Force today Friday 7th November 2025 at it’s headquarters in Ebute Metta, Lagos, paraded the two suspects arrested in connection with the derailment of the Warri Itakpe train service on Sunday 1st of November 2025.
Speaking to newsmen, the Commissioner of Police Nigeria Police Railway Command, CP Vungmoh S.M. Kwaimo, described the vandalism of train tracks as an act of economic sabotage which will be fought to a standstill. According to CP Kwaimo, the suspects, identified as Mudansuru Mutari (male, aged 27) and Blorie Kokori (aged 39), were apprehended around Kilometer 208 before Abraka, Delta State, on Tuesday, November 4, 2025, by operatives of the NRC Police Command in collaboration with local security agents.
CP Kwaimo described the arrest as a breakthrough in the fight against train tracks vandalism in the Agbor Abraka axis. According to him, “We are going all out against the vandals because we have a responsibility to ensure safety of life and property in line with section 4 of the Police Act”.
According to the CP, preliminary investigations and their confessional statements revealed their direct involvement in tampering with vital components of the rail track. He said, “We will pursue this case to see that justice is served”. He also promised to go after the sponsors, some of whom have been identified in Lagos and Agbor.
The CP used the occasion to inform the public that the number of policemen attached to each coach in the operations of the Nigerian Railway is to be increased. He expressed gratitude to President Bola Tinubu, the Inspector General of police and the management team of the NRC for their support and zero tolerance for railway vandalism.
CP Vungmoh Kwaimo at the parade of the suspects was flanked by his officers and men which included DCP Yahaya Mana DC (CID), DCP Toyin O. Sulyman DC (OPS), ACP Ibrahim Audu AC (OPS), among others.
In a similar vein, the president general of the Nigerian Union of Railwaymen comrade Innocent Luka Ajiji who led members of his executive to the parade of the suspects, was full of praise for the new leadership of the Nigerian Railway police command under CP Kwaimo Vungmoh for their tireless efforts in the fight against rail tracks vandalism, just as he commended the management of NRC led by Dr Kayode Opeifa for the reinvigoration and turn around of the Nigerian Railway Corporation and railway men for their commitment to their duty even in the face of challenges and setbacks caused by train tracks vandalism.
Similarly, the managing director and chief executive officer of the NRC Dr Kayode Opeifa while speaking to newsmen in his office, called on states governments to show concern to take ownership of the railway tracks that passes through their states through the provision of infrastructures like motorable roads to the train stations.
Comrade Opeifa reiterated his warning that railway properties are critical national assets and not scraps, and warned vandals and their sponsors to stay away or face the full weight of the law. According to the NRC helmsman, “Railway properties are national assets, stay away, we are changing strategies to secure train tracks, We are deploying technology and the use of local communities to safe guard our train tracks”.
According to Dr Opeifa, “We are prosecuting many arrested vandals of train tracks and will not stop, unless they stay away from our national assets”.
Dr. Opeifa emphasized that the NRC under his leadership remains focused on President Bola Tinubu administration Renewed Hope Agenda and will not compromise in the provision of efficient service delivery and safety of it’s passengers whose comfort is non negotiable.
He identified funding as a major challenge in the operations of the NRC, but noted that the support of states governments remains critical, to enhancing quality and efficient service delivery to the people.
Comrade Opeifa said that the corporation was in talks with the Rural Electrification Agency to provide electricity to the stations and trains tracks to about 500 meters to the train stations. He also called on the members of the national assembly to consider the Nigerian Railway Corporation (NRC) in their constituency projects.
Speaking on the derailed Warri Itakpe train of the 1st of November 2025, Dr Opeifa stated that only two coaches were affected as a result of the removed bolts and clips. He highlighted that over 300 bolts and clips were removed within the axis which caused the derailment, but that the re-railment was concluded within 24 hours, but due to the need to carry out necessary and diligent safety checks, the resumption of train services had to be put on hold temporarily and that train service has resumed on the corridor.
Comrade Opeifa used the occasion of the press briefing to appreciate and commend the commuting public whose loyalty, according to him, “Strengthened our resolve to remain committed and undeterred by the derailment setbacks”.
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