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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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Nigeria, U.S. Launch Multiple Deadly Airstrikes on Terrorists in Sokoto — FG
Nigeria and the United States yesterday launched a joint military operation to flush out terrorists in the Northwest, the Ministry of Foreign Affairs confirmed last night.
The Federal Government confirmed in a statement by the ministry that it remained engaged in structured security cooperation with international partners, including the United States (U.S.), in addressing the persistent threat of terrorism and violent extremism.
U.S. President Donald Trump confirmed the joint operation in a tweet on his X handle.
He said the attacks were on Islamic States of Iraq and Syria (ISIS) in Sokoto State.
The statement by the Foreign Affairs Ministry was signed in the early hours of today by Kimiebi Imomotimi Ebienfa.
It reads: “This has led to precision hits on terrorist targets in Nigeria by air strikes in the Northwest. In line with established international practice and bilateral understandings, this cooperation includes the exchange of intelligence, strategic coordination, and other forms of support consistent with international law, mutual respect for sovereignty, and shared commitments to regional and global security.
“Nigeria reiterates that all counter-terrorism efforts are guided by the primacy of protecting civilian lives, safeguarding national unity, and upholding the rights
and dignity of all citizens, irrespective of faith or ethnicity.
“Terrorist violence in any form, whether directed at Christians, Muslims, or other communities, remains an affront to Nigeria’s values and to international peace and security.
“The Federal Government continues to work closely with its partners through established diplomatic and security channels to weaken terrorist networks, disrupt their financing and logistics, and prevent cross-border threats, while strengthening Nigeria’s own security institutions and intelligence capabilities.
“The Ministry of Foreign Affairs will continue to engage relevant partners and keep the public informed through appropriate official channels.”
Confirming the operation, Trump said the military struck terrorists’ hideout in Sokoto.
The U.S. President said he had ordered the deadly strike to flush out ISIS terrorists in the Northwest.
Trump had accused the terror group of persecuting Christians in Nigeria.
In a post on social media, Trump said he had directed a “powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria,” who he said had been killing innocent people.
U.S. Africa Command said the strike killed multiple terrorists at the request of Nigerian authorities in Sokoto State, which borders Niger to the north.
The claim could not be verified as at the time of filing this report.
“I have previously warned these terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was,” Trump wrote on Truth Social.
“The Department of War executed numerous perfect strikes, as only the United States is capable of doing.
“Under my leadership, our country will not allow radical terrorism to prosper. May God bless our military, and MERRY CHRISTMAS to all, including the dead terrorists, of which there will be many more if their slaughter of Christians continues,” added the president, who is spending the Christmas holiday at his estate in Palm Beach.
In a separate post on social media, Defence Secretary Pete Hegseth said he was “grateful for Nigerian government support & cooperation”.
The Special Adviser to President Bola Tinubu, Mr. Daniel Bwala, told CNN: “The U.S. and Nigeria are on the same page in the fight against terrorism.”
Trump has focused for the last several months on terrorist activities, including calling in November on his secretary of defence to “prepare for possible action” and warning the U.S. would enter Nigeria “guns-a-blazing” to protect the Christian population of Africa’s most populous country.
On Christmas Eve, Tinubu shared a “Christmas Goodwill Message” in which he wished Christians across his nation and the world a merry Christmas and prayed for peace among individuals of differing religious beliefs.
“I stand committed to doing everything within my power to enshrine religious freedom in Nigeria and to protect Christians, Muslims, and all Nigerians from violence,” President Tinubu said in a post on X.
A delegation of senior Nigerian officials had visited the U.S. to hold talks with their counterpart.
The team, led by the National Security Adviser (NSA), Mallam Nuhu Ribadu, had explained the government position.
The team said the terrorists have no specific target.
A delegation made manily of U.S Congressmen had also visited Nigeria.
Both countries had raised a joint committee to deepen talks
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Update : • $7m School Fees Controversy: ICPC Invites Dangote Over Claim Against Ex-NMDPRA Boss
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ICPC invites Dangote and ex-NMDPRA boss
Pushes ahead despite ex-CEO’s resignation
Raises panel, opens investigation on Monday
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has invited businessman, Aliko Dangote for more information in respect of his petition against the immediate past managing director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed.
Dangote is expected to appear or send his lawyer, Ogwu Onoja (SAN) tomorrow when ICPC’s investigation of the petition formally commences.
The commission raised a panel of crack investigators on Friday to handle the probe,
The ICPC ,according to sources ,has asked Dangote to submit his evidence to the anti-graft agency.
Dangote had accused Farouk of corruption and misappropriation of funds, including spending millions of dollars on his four children’s education in expensive and exclusive schools in Switzerland.
The businessman accused Farouk of economic sabotage by undermining domestic refining by colluding with international traders and oil importers through the continued issuance of import licences.
Farouk has since resigned his appointment.
But the commission said it is going ahead with the investigation, Farouk’s resignation notwithstanding.
“All is set for the investigation, ” a well- placed source in ICPC told The Nation yesterday.
“ICPC has set up a panel of crack investigators on Dangote’s petition. The Chairman of the commission, Dr. Musa Adamu Aliyu (SAN) asked the trusted team to stay action on a case and focus on Dangote’s petition. This underscores the importance attached to this case,” the source said.
“We have also invited Dangote or his lawyer to come on Monday to adopt the petition. “Either of them is to present relevant documents or evidence to support the petition.
“He who alleges must prove or provide lead on the allegations which our investigators must act on.
“We have acknowledged the receipt of the petition in line with our guidelines or mandate to do so within 48 hours.”
Continuing, the source said :”after formal adoption of the petition, we will isolate issues and ask Ahmed to respond to the allegations.
“We have been inundated with enquiries but I can assure you that ICPC will be fair to all the parties.”
Responding to a question, the source added: “The resignation of Ahmed does not affect this probe which is in the public interest.”
“Section 19 of the Corrupt Practices and Other Related Offences Act (ICPC Act 2000) makes it an offence for any public officer to use his/her position to confer an unfair or corrupt advantage on himself, his relatives, associates, or other public officers.Anyone found guilty of any such offence is liable to five years imprisonment without the option of a fine.
“The enabling law also stipulates harsh punishment for individuals deemed to have wasted ICPC’s time and resources by making malicious or frivolous petitions against others.”
In the petition submitted on Tuesday through his lawyer, Ogwu Onoja SAN), Dangote demanded the arrest, investigation and prosecution of Farouk for allegedly living above his means as a public servant.
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He accused Farouk of “spending without evidence of lawful means of income amounting to over $7 million for the education of his four children” in Switzerland.
The document named the children and their schools and provided specific amounts paid for verification.
“Engr Farouk Ahmed spent without evidence of lawful means of income humongous amount of money of over $7million of public funds, for the education of his four children in different schools in Switzerland for a period of six years upfront,” Dangote alleged.
“It is without doubt that the above facts in relation to abuse of office, breach of the Code of Conduct for public officers, corrupt enrichment and embezzlement constitute gross acts of corrupt practices, for which ICPC is statutorily empowered under section 19 of the ICPC Act to investigate and prosecute,” Dangote added.
The cold war between Dangote and petroleum regulators had earlier sparked a N100billion suit.
The Dangote Petroleum Refinery and Petrochemicals FZE filed a N100 billion lawsuit at the Federal High Court in Abuja challenging import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and others, including the Nigerian National Petroleum Company Limited (NNPCL).
The refinery accused the regulator of granting licences to import refined petroleum products despite domestic production capacity.
It alleged that the action of the regulator has violated some sections of the Petroleum Industry Act.
The suit, FHC/ABJ/CS/1324/2024, was discontinued in July 2025 by Dangote’s lawyers.
ICPC petition guidelines say: “Any person anywhere in the world may make a complaint against any other person (corporate or non- corporate) in Nigeria, where reasonable grounds exist for suspecting that such a person has conspired to commit or attempted to commit or has committed an offence under the Corrupt Practices and Other Related Offences Act 2000.
Complaint/petition is made through oral/written report submitted through post, physically to any ICPC office in Nigeria.
A complaint made orally or by an illiterate shall be reduced into writing and read over to the complainant by an officer of the Commission.
The report shall set out details of the complaint , date, time and place where the offence was allegedly committed.
The complainant shall provide the names and addresses, phone number, email and other relevant information that may assist the Commission in locating the person or persons against whom the complaint is made.
The complainant shall state his/her full address, email or phone number or any other information that will assist the commission in contacting him/her, whenever necessary.
Reports can also be made online through any of the commission’s reporting platforms.
The commission shall acknowledge receipt of any petition within 48 hours.
Spokesperson of ICPC , John Okor Odey confirmed that the commission “received a formal petition on Tuesday, 16th December, 2025 from Alhaji Aliko Dangote through his lawyer. The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated.”
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JUST IN : N2.2bn Fraud, Court Upholds Ngige’s EFCC Bail, Insists on Senior Civil Servant as Surety
The Federal Capital Territory High Court sitting in Gwarinpa, Abuja, on Thursday, granted a former Minister of Labour and Employment, Chris Ngige, to continue to enjoy the administrative bail earlier granted him by the Economic and Financial Crimes Commission.
The trial judge, Justice Maryam Hassan, made the order while delivering a ruling in the bail application filed and argued on behalf of the former minister by his lead counsel, Patrick Ikwueto (SAN).
Justice Hassan in the ruling directed Ngige to produce a surety who must be a director in the employment of the Federal Government and own a landed property.
Justice Hassan ruled that the surety is to deposit the title documents of the landed property, as well as his travel documents, with the court pending the time Ngige completes the retrieval of his own international passport.
The EFCC had previously granted Ngige bail on self-recognition and directed him to submit his travel documents to the commission, in addition to providing one surety.
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