₦airaland Forum

Anxiety Grips Ondo Community Over Reports Of Controversial Oil Magnate, Olugbo Of Ugbo, Oba Frederick Akinruntan's Death

Anxiety has gripped the Ugbo Kingdom in the Ilaje Local Government Area of Ondo State due to rumours about the death of the controversial oil magnate and founder of Obat Oil, Oba Frederick Enitiolorunda Akinruntan, Okoro Ajija 1, the Olugbo of Ugbo Kingdom.

Sources informed SaharaReporters that the 75-year-old monarch has been ill for some time, though SaharaReporters could not independently verify his demise at the time of this report.

“We heard that he was flown out of Nigeria last year ending because of his sickness. But maybe because he is king, they are trying to keep his death hush-hush,” one of the sources said.

“But people in his area are saying that he is dead but they decided to keep the news from the public.

“Since last November or December, nobody has heard from him up till now. We heard that they have performed some rituals in his kingdom, but it was on a lowkey. They are only saying he travelled out.”

“I heard that he has been very ill and that he has been afflicted for some time,” another source said.

Obateru Akinruntan is a prominent oil magnate and the founder of Obat Oil, one of Nigeria’s largest privately owned oil companies.

Obateru Akinruntan is a significant figure in the oil industry and the founder of Obat Oil, one of Nigeria's largest privately-owned oil companies.

Born in 1950 into the royal family of Sir Frederick Adetolugbo in Ugbo, a riverine area in Ilaje, Obateru was the fourth of eight children and lost his father in 1964 at the age of 14.

In 2009, he was appointed king in line with the traditions of the Ugbo Kingdom.

In March 2014, Forbes estimated his net worth at $300 million, ranking him as the second richest king in Africa and the wealthiest in Nigeria.

The only African monarch wealthier than him at the time was Mohammed VI of Morocco.

On September 13, 2019, Governor Oluwarotimi Akeredolu, SAN, approved the formation of a new council and appointed Oba (Dr.) Fredrick Eniolorunda Obateru Akinruntan, Okoro Ajija I, CON, the Olugbo of Ugbo, as Chairman of the Ondo State Council of Obas for a two-year term.

iamnotillicit:
Money king...

nairavsdollars:
Very controversial man. May his soul RIP

BloomingDale:
Fake drugs, food and drinks have killed him.

Blackshared:
He’s not dead I just spoke with him

Gotocourt:
OBAT OIL,

IF True, you came, you saw, you conquered. Go forth in peace.

iwaeda:
https://saharareporters.com/2025/02/11/breaking-anxiety-grips-ondo-community-over-reports-controversial-oil-magnate-olugbo-ugbo