Moneyman Tunde Folawiyo’s Purchase Of N52.1m Guitar Of Juju Maestro Sunny Ade And His Raging Disagreement With Business Partners Over Lagos Oil Field

A report available has it

The blogosphere was on fire throughout last week. The news was everywhere that Tunde Folawiyo, the scion of Folawiyo dynasty, put smile on Sunny Ade’s face. Amid the raucous of commerce and evilly disposed strife, oil magnate, Tunde Folawiyo, shuffled his way to the sound of music. According to the report, Folawiyo discarded the garment and mien of cutthroat commerce to celebrate Juju maestro, King Sunny Ade. As the musician celebrated his 70th birthday at the Federal Palace Hotel, Ikoyi, Folawiyo made a grand gesture to him by purchasing his guitar for a whopping N52.1million. But in another news, the Temple Management Company said that its chairman, Tunde Folawiyo did not participate in the bid contrary to widespread reports that he purchased it.

However, Folawiyo, the son of late Nigerian businessman, Wahab Folawiyo, was recently enmeshed in bitter disagreement with his business associates over proceeds of the newly operationalised Aje oil fields in Lagos. Few weeks after investors shared the first income from the Aje oil field, offshore Lagos, a dispute has arisen among the partners, calling the future of the project into question. Several weeks after the sharing of the income from the first export from the oil field, a disagreement erupted among the joint venture partners over cash call. One of the partners, Panoro Energy, an independent exploration and production company with assets in Nigeria and Gabon, disclosed this in an update.

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