Kemi Olunloyo, daughter of former Oyo State Governor Dr Victor Omololu Olunloyo, has reacted to her cousin Akinkunle Olunloyo's arrest and the N40 million fraud charge police brought against him last Friday.

Akinkunle Olunloyo was yesterday brought before an Igbosere Magistrates’ Court, Lagos, for allegedly defrauding a financial institution to the tune of N40 million.

According to Kemi, Akinkunle was defrauded of part of the N40m by some of his friends, who are now on the run.

She told The Nation that Akinkunle, a former night club owner and Chief Executive Officer (CEO) of Code Media Ltd, had repaid N26 million to his creditors.

According to the police, Akinkunle committed the offences in Lagos, “sometime in November 2014,” in connivance with unnamed accomplices.

Kemi said:

“Akinkunle owned a night club and when the economy nosedived, he sold it. He wanted to invest the money from the sale in a new venture: entertainment hall business. That’s what he wanted to do.

“Some boys, his friends that he thought were trustworthy, met him and advised him to take a bank loan. They promised to assist him through the process. But when he got the loan, the boys made away with part of the money. They did not give it to him.

The debt should ordinarily be owed by everyone involved in the loan deal, but the others are on the run. Nobody knows where they are, so he is the scapegoat for the offence.”

On Monday, it was widely reported that Akinkunle was a son of Dr Olunloyo, a mathematician who left office after three months as governor in December 1983, following a military coup.

But Kemi, a pharmacist and blogger, clarified the controversy surrounding Akinkunle’s identity and his relationship with her father.

She said:

“My grandfather, Horatio Olunloyo, who owns Molete House in Ibadan, had five children: three girls and two boys.

The ‘boys’ are my dad, Dr Victor Omololu Sowemimo Olunloyo, and his brother, the late Prof. Vincent Olusegun Sowemimo Olunloyo, or my Uncle Segun, as I call him.

My dad is the older sibling, Uncle Segun was the third born. Both sons have the same initials: V.O.S. Uncle Segun was famous in his own right. He was a top engineer, very popular at the University of Lagos, where he lectured. He died last October after an illness and was buried last December.

“Akinkunle Olunloyo is Uncle Segun’s second son. So, he is my dad’s nephew and my cousin. I saw him just after he was born in 1978. It was the last time I saw his mum and his two siblings. So, when I saw him being identified in stories online as my dad’s son, i.e. my ‘brother’, it was really weird.

“Akinkunle’s mother is Mrs Joko Olunloyo, wife of Prof. Vincent Olusegun Sowemimo Olunloyo. But they divorced after some years, so I don’t know if she still uses Olunloyo. I call her Aunty Joko.

“Aunty Joko told me Akinkunle has paid back N26 million out of the N40 million, so he owes something like 13 or 14 million naira.”

https://lailasnews.com/kemi-olunloyo-reacts-cousin-akinkunle-olunloyo-arrest/

lalasticlala

Guess the guy was so blind that his friends played a fast one on him without him knowing sad one......He should have started his business with his own funds so that what ever comes after will be his to decide.....Never you take a low to start up your business especially from the bank...... This is one of the reasons why I don't keep friends biko.....Don't have time for all those negative vibes..... girl gat so much on her mind

Eeeeyah.....

So sad you are scapegoat. SOrry.

Need a website design without advanced payments? Check my signature

Hahahahahaha,
Success has many friends, but even your kin will disown you if you are a failure.

It's sad and ironic,
Why is she giving us her genealogy just because she wants to extricate herself from the criminal.

What's the difference between first cousin and brother in a country like Nigeria where any man from your Local government area is called uncle.

Shame on Kemi Olunoyo.
I'd never disown my kin just because they were caught in a crime.

biacan:
Guess the guy was so blind that his friends played a fast one on him without him knowing sad one......He should have start his business with his own funds so that what ever comes after will be his to decide.....Never you take a low to start up your business especially from the bank...... This is one of the reasons why I don't keep friends biko.....Don't have time for all those negative vibes..... girl gat so much on her mind

dangote,adenuga nd co only use bank loans. Ben bruce collected 11b which he has refused to pay the collateral he used cant pay the loan . no real businessman uses their money o

ds

All this rich man pikin are bunches of slow pokes. they knew nothing about life.

Toh

Whoelse came here to read comments let's gather here for some assurance we deserve some accolades [color=#990000][/color]

At times debts are better than equity in running business

MMM deal or no deal

So what should we do now? Make all of us and each other rub mind commit suicide over ur cousin loan?
Una come NL tell us when una dey borrow the loan from bank?
Why una come dey involve each and each of us when the yawa gas now? Wetin concern us exactly?

Abeg, this no be topic to read jare. Next one.

NwaAmaikpe:



Hahahahahaha,
Success has many friends, but even your kin will disown you if you are a failure.

It's sad and ironic,
Why is she giving us her genealogy just because she wants to extricate herself from the criminal.

What's the difference between first cousin and brother in a country like Nigeria where you call a man your Uncle just because you are from the same Local government area.

Shame on Kemi Olunoyo.
I'd never disown my kin just because they [url]were[/url] caught in a crime.

she just clarified. The guy is her 1st cousin. Nothing bad in that.

This mama is an embodiment of brain and intelligence ,very analytical and historical ..studied pharmacy but became a journalist out of her personal passion for journalism..keep it up ma.

biacan:
Guess the guy was so blind that his friends played a fast one on him without him knowing sad one......He should have start his business with his own funds so that what ever comes after will be his to decide.....Never you take a low to start up your business especially from the bank...... This is one of the reasons why I don't keep friends biko.....Don't have time for all those negative vibes..... girl gat so much on her mind

...He should have started...

In business, when it comes to money, trust your friends from a long distance

NwaAmaikpe:



Hahahahahaha,
Success has many friends, but even your kin will disown you if you are a failure.

It's sad and ironic,
Why is she giving us her genealogy just because she wants to extricate herself from the criminal.

What's the difference between first cousin and brother in a country like Nigeria where any man from your Local government area is called uncle.

Shame on Kemi Olunoyo.
I'd never disown my kin just because they were caught in a crime.

Your stupidity can be annoying en.

The Greatness Of The Igbo



Nnedi Okoroafor wrote Black Panther

family iranu

I am sure if he had won a Nobel Prize we would not hear this lecture

Its A. to the A

So Aunty all these grammar are meant to disassociate you from a brother.
Its not your fault. Failure has no friend.

Like cousin like aunty

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https://www.youtube.com/watch?v=qooqbWMgToo

NwaAmaikpe:



Hahahahahaha,
Success has many friends, but even your kin will disown you if you are a failure.

It's sad and ironic,
Why is she giving us her genealogy just because she wants to extricate herself from the criminal.

What's the difference between first cousin and brother in a country like Nigeria where any man from your Local government area is called uncle.

Shame on Kemi Olunoyo.
I'd never disown my kin just because they were caught in a crime.

There is a saying "Loyal friends laugh at your jokes; when they're not too good and sympathize with your problems; when they're not too bad"

GrammarNazi1:

...He should have started...

Whoever you are... I think you're doing a very wonderful job..!!