₦airaland Forum

When we posted Mike Adenuga: The heartless tyrant? many nairalanders believed we were trying to smare the big man's name. Some poster even called us liers. Thanks to nairaland for taking the story to the front page. This afternoon, received a text message that the board approved the 1.01B agreed in the court since January 27 last night! Can you believe this? Who is the board but Adenuga? He controls 75% of conoil shares.How come it is when we are about to picket him that he signs the agreement that even a senior high court judge had written more than twice urging him to sign. The text said the agreement was signed last night. When has board members started meeting in the night? Anyway, we told the secretary to the board that until we see the agreement and the time frame for payment that should not exceed 15th December, the picketing is still on course. They are all scared. If this condition is met, the picketing may be cancelled afterall it is necessity that compell us on that course of action.(I am typing on chinko phone so pardon my mistakes and lack of paragraphs) Now to the question of why we allow Adenuga total control of our pension fund. When the man bought into National oil in 2000, many of us who detest Adenuga style of leadership opted out. This include Ajimobi the present governor of Oyo state who was the MD. Adenuga treats him like an errand boy. He was a trustee of the fund. 95% of the staff left including all the trustees leaving Adenuga with N2B he knew nothing about. Even though the fund is independent of the company, no one remain to challenge him when he appropriated the money in the fund. He stopped the yearly 12% annual increase that was about to be increased to 25%. This is why 75% of pensioners are still on below N7500 per month. This made us take the man to court in 2009. Adenuga quickly opted to settle out of court. We agreed and the Lagos high court appointed a senior judge as an abitrer(?) Agreement was reached after three years to pay 1.01B.

Oya, remove the subsidy now now

Why the hue and cry 'bout subsidy?
What if petrol is N300 per litre?
And diesel N700 per gallon?
God do not them do a rethink
Cause the country is due for a change.

So petrol cost N16 in war turn Libya
An even less in trouble beset Guinea
So what? Nigeria is the big brother
My people can afford a higher and higher price
For our rulers to live in luxury and affluence.

What if president spend 2M to feed?
And David Mark N1 to wash hand
What if first lady adorn hair with 4M
And first daughter in N30M SUV
Bad belle shut up and die.

Shut up all ignoramus
Who gave you wisdom to talk
What if Abacha fear to tred
Where GEJ is about to put his foot
Ride on GEJ you are bold and fear no man.

Let Nwela collect her $600
The lawbreakers their N100M
Let my brother eat his 1.0.0
And even me my 0.0.1
O.k if our rulers had their fill and contented.

Production cost of petrol N45
But the landing of imported N145
Why should we produce at N45 and sell N65
When we can import and sell at N64
Then our rulers can live as befit their status.

Let them increase the price to N300
And put it at even N500
How else can we chase them crazy
How can we do what is long overdue
And send them all to the land of no return.

Please dear father, father in heaven
Do not their mind change
Only them I can live in the country I dream
Only then I can have my freedom
And give my children the country they deserve.

Let all the Beef beware and watch
Time for suya is round the corner
When the anger is let loose in town
And all reason take to flight
Then the Beef better pray or run
Cause the revo will consume all the Beef.

Nigeria Corruption Index


If Newton could be here

To behold his theory debunked

To everything that goes up

Down must all come

But in Nigeria, corruption

Knows of only one way to go.


When less money the country made

From the source of our cause of doom

Time to tighten our belt they say

For the country to grow and grow

But our leaders theirs they loose

And continue to steal and loot.

help, my presdent is mad again.

The way things are going there may not be any Nigeria in the next few years talk less of forever. Fool. Maybe the old cargo lives in the moon or is talking of another Nigeria but definitely not this one where everything is spiraling fast out of control.

abujazz why are you always derailing all serious posts with your borehole business? Are you the only one with his own private business in Nairaland? Please, post your advert in the relevant section and stop disturbing serious minded people with your advert.

I joined a fast growing Pentecostal church located in Majidun when I moved to Ikorodu in 2004 which is the aftermath of my retirement by Otunba Mike Adenuag when he bought National Oil known as Conoil. A year later the church opened another branch at Itamaga. The General Overseer of the church is no doubt blessed with the gift of healing which made the growth of the church rapid. But just like most human being that have one gift or the other, pride started having the best of this G.O. Before I forget, I was the Men Leader at the headquarters which by implication makes me next in line to the resident pastor.

I was in-charge of the bible study and Sunday school. The church grew so fast at a point that seats were never enough for people to sit on Sundays. This made people come to service that would normally start at 9 o’clock by sometimes 6 o’clock. The G.O became swollen headed. Sometimes when he is preaching, he will make reference to some churches that had started years ago but don’t have half of the congregation he has. I would caution him not to see the growth of the church as his handwork but Gods. The colour of his eyes would change. In most cases whenever he is on the pulpit preaching, he will stylishly rebuked me for this quoting the bible to back him up. Nobody in the congregation except the resident pastor would know he was referring to me.

The resident pastor sometimes when he feels offended by the G.O, will come to me because I was the only voice of truth who can talk to him without fear or intimidation. While he will threaten others will damnation and brimstone, he knew I am not moved by such treat. In spite of this, I believe in the biblical injunction of ‘touch not my anointed’ so I tolerated most of his outbursts.

Then sometimes last year, he called the elders to his office and told us God revealed to him that his wife of many years who already had four children for him is not the woman who will complete his journey with him. I told him to explain this to us in plain language. God told him to divorce his wife. He made a lot of damaging allegations against her. You could hear a pin drop in the office. What did the bible say? Is the wife an adulterer?

This is the only ground for which Jesus allowed divorce. The G.O said he never had any cause to suspect his wife. Why then did he want to send his wife away because all the allegations are what most husbands accuse their wives of doing?
We called the wife the following Sunday to hear her side of the story. The G.O was infuriated that we ordinary mortals had the temerity to dabble into his marital affairs.

He made us the topic for his preaching that Sunday. This time no one in the congregation was left in doubt as to whom he was referring to. I told him pointblank after the service that I don’t like the way he painted us on that day but he was without remorse.

I continued to reconcile him and his wife until I gave up because I realized the man had already made up his mind and nothing anyone say would make him change it. A couple of weeks later, he packed out of his house and moved to Itamaga. The wife came crying to me but I told her to continue to pray.

One year later, the church in Majidun is closed. Only the Itamaga now exists. I heard from the wife that even that one now operates with a quarter of its original members. Some of his fellow pastors have accused me of not keeping faith with him. They said I should have stayed back in the church since I am the only one who used to advise him. They said that was God’s purpose for bringing me to the church. What would I have done? The man at the point when he wanted to divorce his wife saw anybody who voiced a contrary opinion as an enemy.

Should I have stayed back in the church when it was obvious the G.O would not have tolerated my critical view of his wanting to send his wife away? I had written a book on his exploits which a publisher had accepted because it is a very unusual story. What do I do with this book? Do I tell the publisher to go ahead and publish even though I don’t believe in what I wrote anymore?

i mistakingly suscribed for the daily easy net plan on etisalat for which n100 is deducted everyday. i want to stop this deduction but i dont know how. is there anyone who know ? i am thinking of throwing away the sim. called the network several times no show.

Tobila got nearly all the facts but not all. I am an insider because I am one of the pensioners involved. When Adenuga bought the majority shares in National oil in 2000, the pensioners made the mistake in not letting the government know that there is a trust fund that is set up for the staff by shell Nig. Ltd. the former majority shareholder in the company. This trust fund is run independent of the company like a different company on its own. A percentage of the company profit before tax is paid into this fund every year. This fund at a point became so rich that it borrowed the parent company 1.5B when the then National oil was having financial trouble for which the company pledged the Eagle house as collateral. Adenuga transferred the building back to the company without paying the loan when he took over majority shares in the company. The fund had investment both in Nigeria and overseas companies. Its shares in Nigeria alone are worth almost 2 billion Naira. It is from the profit from these investments that pensions are paid

When the man called the bull came into National oil, he saw the over 2.6B in the fund and appropriated it as part of the company he bought. The pensioners instead of taking him to court at this time protested to El Rufai who did nothing. This is the point at which the pensioners should have taken Adenuga to court but they failed to do this. This emboldened him to cancel the 12% annual increment approved by shell which was about to be reviewed to 50% when Federal Government increased pensioners pay. This is why 70% of the pensioners on his payroll are still on N3600 and below.

Mike Adenuga is a wicked and greedy man. When he came into National Oil in 2000, he saw the whole staff he met there as thieves. I think it takes one to know one. The man is a bloody dictator. He treated the M.D of the company Mr. Ajimobi who is now by the grace of God the governor of Oyo State like an errand boy. Mr. Ajimobi used to complain bitterly about the man’s dictatorial attitude. We had to force him by downing tools before he agreed to pay the 25% salary increase that was approved by the management of the all the oil companies.

When we saw that he had no intension of improving the welfare of the pensioners or pay our yearly increment, we sacked our executives who were colluding with him and took him to court. Because the man knew the bad publicity the case would generate if it gets to the open court, he quickly opted to settle at the court without the case going to the open court. I told my fellow pensioners that you don’t negotiate with people like Adenuga. If you want to collect what belong to you from people like him: you force then to release it.

Three years after, our people have now come to realize how wrong they were. The man agreed to pay only N1.033B out of the N2.6B remaining in the fund. There is no justification for this. He did this because he knew our people were desperate because many of us are above 70 years old. Adenuga had no respect for anybody or group as long as it is not a source to make money.

At a point we reported him to the then Awujale of Ijebu-Ode who was his uncle. He was so furious he threatened to stop the pension for which we told him to go ahead because we knew he had no power to do this. He sacked all the staff he met on ground in National Oil for the simple fact that we had two unions over which he had no control. When Awujale reprimanded him for treating old people the way he was doing he became furious.

The N1.033B he agreed to pay was agreed in January after over 3 years of insipid negotiations. We had to sign individual agreement that we will not take him to court after he must have us paid us his miserable N1.033B. Since then he has not even release the money. 15 pensioners died after we signed the agreement. We have now decided to do what we should have done before: take the man to court where Nigerians will know the kind of greedy man Adenuga is. We will wash his dirty clothes in the open court and we will expose all his dark secrets in public. I am not afraid of him because I have God on my side. The current chairman ran out of Lagos because of incessant threatening mails. I will not do this because I am not afraid of who can kill the body and not the soul. By the time this case is settled people will know the kind of man Mike Adenuga Jr is.

mike adenuga foundation is a big joke. go there nothing is happening.

If the man is so filthy rich as they said, how come he is paying 75% of conoil pensioners less than N4000 and he is even holding on to their N2.6b trust fund set up by Shell for the pensioners. His appologists can go to conoil and verify this facts.

If you are sure you are not one of those -------- e-mail me @ ajibola4olutisr@gmail.com but if you are forget it because I am not one who lose a kobo and keep quiet.