Kola Aluko’s Dwindling Fortunes

By bayo adeoye 

His story will definitely make a good box office hit, if turned into a movie by a creative director. Kola Aluko was the oil magnate who used to live life like a super star. Stupendously wealthy, he spoiled himself with good things of life; drove expensive cars, flew private jets around the world and sailed across the sea with eye-popping luxury yacht

Given his status, he also commanded a lot of respect and his popularity literally soared beyond the shores of Nigeria. He partied hard and hanged out with Hollywood super star. At a time, he was ranked by Forbes Africa as one of the 40 Richest Africans.

But that was when his benefactor, Diezani Allison Madueke, a former Minister of Petroleum Resources, was in power. As soon as power changed hands and the former President, Goodluck Jonathan, was sent packing by the incumbent, President Muhammadu Buhari, he literally poked the law in the eyes

Today, the billionaire, who was once described as a jolly good fellow, is battling for survival, since his company, Atlantic Energy, was slammed and indicted by the Nigerian anti- graft agency, Economic and Financial Crimes Commission, EFCC, for allegedly laundering billions of Naira for the former Petroleum Minister.

Consequently, many of his assets were seized, while his banks accounts scattered around the world were frozen.

This has been a serious headache too many for the man who loved to spend money as if it was going out of fashion. He has reportedly run out of circulation and crawled into his cocoon, even though he was sighted recently in Mexico partying with some of his old friends.