After Failing To Grab Headlines On Traditional Stool Claim, Obat Boss & Traditional Ruler Obateru Akinrutan Trends Over Alleged Threats To Possess His Abuja Properties By Those He Owes In Lieu Of Huge Debt

…sons femi, yomi roped into unravelling mess

A couple of weeks back, oil baron and traditional ruler of Ugboland in Ondo state, Oba Obateru Akinrutan came to town.

He claimed his stool predates that of the revered Ooni of Ife.

Ile Ife (in Osun state) is adjudged the cradle of the Yoruba and the throne posited as front runner.

Oba Akinruntan’s claim upsets this historical balance, especially in view of going the extra length to document his assertions in a new

book titled “A History of The Oldest Stool in Yorubaland” .

But strangely the attempt didn’t grab headlines such an action ordinarily should.

Checks by societynowng.com revealed the Oil baron turned monarch got a couple of mentions and his claims went to bed.

But he currently trends on another front.

Information filtering about has it that the Ugbo monarch is at the centre of a property takeover in lieu of huge debt reports.

According to information monitored here and there financial institution Ecobank is described as ‘’good as taken over’’ the shopping mall of the flamboyant monarch.

The traditional ruler is said to have taken huge loan facility using the property as collateral and is now defaulting in payment to the point the financial institution has adopted a hard stance of takeover to recoup it’s fund.

Other properties of the traditional ruler at a time dubbed ‘’wealthiest’’ in Africa are reportedly being targeted in the loan recovery efforts of the bank.

This development is said to be outside efforts by Assets Management Company (AMCON) to recoup acquired loans owned by Monarch Obateru and his company.

Trending details have it the efforts of AMCON is such that ‘’ the oil and gas aspect of the business is struggling for breath’’.

Added revelations have it the attempts by AMCON were part of what sparked off interest of anti corruption agency, Economic and Financial Crimes Commission in the Monarch’s business activities.

‘’it was this interest that resulted in invitations that resulted in reports of arrest by EFCC at a time…though he has other cases with them like the mess with petrocam where a N1.2billion proceeds of joint business was reportedly diverted into private pocket’’ a source explained

According to the trending details part of the reasons the monarch’s present travails are linked to the administrative acumen of his sons, Femi and Yomi.
The due currently oversee their father’s business interests while as on the job overseers while he attend to his ‘’kingly duties’’ full time.

‘’both the duo are constantly at logger heads in war of relevance and superiority staffers and business associates are cashing in on..and that has not really helped the businesses handed over to them to grow, not to talk of paying back debts’’ trending information revealed.