Why They Say Billionaire Mike Adenuga Is On The Verge Of Becoming Totally Unstoppable

According to information floating around in the business community, formidable economic power Mike Adenuga is on the verge of becoming totally unstoppable.

Societynow.ng gathered the large heart that those familiar with his ways insist he is far and above the $6.2Billion valuation by Forbes (as of May 2021) has secured a tremendous edge.

“That is what the boardroom maneuver at FirstBank has done” societynow.ng learned.

The Guru as the billionaire is hailed in recognition of his mastery of business just waged a boardroom war at the 127years old bank that put him at the forefront of the side in control of things.

The move – once all details are done with – will see Adenuga have a strong voice behind the scene at the financial institution with over 30million customers and strong international presence through its subsidiaries.

“The big gain would be the ability to create the perfect business relationship between Globacom and First Bank ” societynow.ng gathered.

Telecommunication operators like MTN, Airtel and Globacom (owned by Adenuga) face stiff opposition from Nigerian Banks over attempts to make an incursion into the banking world.

The Bank owners continue to lobby hard against operators in the Telecommunication sector getting a Banking License because of the dire threats, particularly economic it poses for the lenders societynow.ng gathered.

Insiders disclosed that this is the root of the ceaseless fights between operators in the telecommunication sectors and the banking industry, including the recent USSD fee mess that got many Nigerians of both sides at the receiving end.

Those who should know disclosed that Adenuga might have just secured a backdoor solution to the problem for Globacom with his new status at First Bank, the financial institution which boasts of 10million people on its USSD quick banking platform as well as 750 branches and 100,000 Banking Agents across the country.

Globacom founded in August 2003 by Adenuga is a multinational telecommunication company that has adopted the status of national pride. It has an increasing presence outside the shores of Nigeria.

It is owned by the Mike Adenuga group, the umbrella body for the money spinners of the 68yr old uncommon wealth who refuse to claim his rank in the committee of billionaires home and abroad.

According to checks by societynow.ng on Wikipedia, other enterprises operating under the cover of Mike Adenuga Group include “Cobblestone Properties and Estates, a real estate and property development company, Conoil PLC, a petroleum marketing company, and Conoil Producing, a crude exploration and production company”.

Further checks revealed that First Bank is not the only financial institution that Adenuga who was given one of France’s greatest recognition of Commander of the Legion of Honour by President Emmanuel Macron has a stake in.

He is one of the key investors in Sterling Bank – which acquired of Equatorial Trust Bank owned by Adenuga – but obviously, Sterling Bank is no First Bank in terms of Size, capacity as well as apparent and inherent gains societynow.ng gathered.

“The growing talk is that backed by Adenuga’s ingenuity and relentlessness of purpose the new status at First Bank properly married with the dream for Globacom and aided by perks from the likes of Sterling Bank just made the generous giver also fondly hail as Chairman of chairmen absolutely unstoppable”