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...Read the full article.

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I wouldn't be surprised if this story is true. It is an open secret that Adenuga fronts for IBB. It is convenient to refer to him as one of Nigeria's richest men. Although, he is an accomplished businessman, no one asks about how he (Adenuga) got the immense seed money to start off, in the first place.

IBB and Baba, it would appear, are not in the best of terms, currently. What better way of hitting at one of IBB massive investment stakes, than by antagonizing, piling pressure on, or even incapacitating Adenuga?

Hmmmm....election '07 is going to be really interesting.

DoubleWahala
P.S. PopQuiz: Who's interests(if any)does Barrister Jimoh Ibrahim(the current 'owner' of NICON) represent?

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This guys don come again oo..Is it sahara or Elendu? Well ,lets wait and see sha...

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O jigbi, jigbi, jigbi. I don dey shele oh! Mike Adenuga arrested by OBJ. O le gbe, O le gba!
No, serioulsy this is getting rather interesting. Although this EFCC arrest him today, leave him tomorrow makes one want to think twice with each passing arrest. Na wa oh. It is going to be interesting.

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Vito: Grow up, these guys write stories that are bettern than AP/BBC/Reuters but we don't give them their due. instead we harass them in the name of grammar and other stupid sentiments.

Here is a big story and we must start asking big questions. People become millionaires overnight and we must question the sources, the size of the wealth should and cannot justify an ill-gotten wealth.

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Mr. Sowore,

Why the phrase "Nigeria's so-called richest man" that reeks of sarcasm? Do you have any special interests in the matter? Can't you report without injecting your human elements? I assume you are a matured person. That's a turn off!

Mike Adenuga and his ilk should roast in jail if found guilty of any criminal charges!

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Multioption: Can't we for one momemnt take Sowore out of the reports he writes and focus on the substance of the report. What is Sowore's crime in this report?
Here is the definition of so-called (skôld)
adj.
1. Commonly called: "new buildings ... in so-called modern style" Graham Greene.
2. Incorrectly or falsely termed: My so-called friends were gossiping about me again.
Usage Note: Quotation marks are not used to set off descriptions that follow expressions such as so-called and self-styled, which themselves relieve the writer of responsibility for the attribution: his so-called foolproof method (not "foolproof method").

Thesaurus puts it below
Adj. 1. so-called - doubtful or suspect; "these so-called experts are no help"
alleged, supposed
questionable - subject to question; "questionable motives"; "a questionable reputation"; "a fire of questionable origin"
Can you tell me where the writer erred please! In the absense of reliable stats and our terrible world of dubious everything, I like to side with that sentence, makes a lot of sense to me.

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This fresh from the PUNCH newspaper. Showore was right afterall

EFCC arrests Mike Adenuga
By Yusuf Alli
Published: Monday, 10 Jul 2006
The Chairman of Globacom Limited, Chief Mike Adenuga, was on Monday arrested by operatives of the Economic and Financial Crimes Commission.

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File
Mike Adenuga

Investigations by our correspondent showed that about 70 riot policemen assisted the operatives in arresting Adenuga at his residence in Lagos.

A source said the arrest of the business mogul took a dramatic twist as there was a sudden outage at Adenuga’s mansion when the EFCC team arrived in the early hours of Monday.

The source, however, claimed that the commission’s operatives defied the outage to effect the businessman’s arrest.

He also said that one of the gates of the mansion was allegedly destroyed in the process.

The source added that the commission had been on the trail of Adenuga in the past few months.

It was learnt that Adenuga was later taken to the EFCC’s office at 15, Awolowo Road, Ikoyi, for preliminary interrogation at the commission’s New Conference Hall.

But at about 1pm on Monday, the EFCC decided to detain the businessman and relocated him to its annex at 7, Okotie Eboh Street, Ikoyi.

There was a strong indication on Monday night that Adenuga might be transferred to Abuja for what a source described as a “comprehensive interaction with the EFCC investigators.”

It could not be immediately ascertained why Adenuga was picked up.

Adenuga presides over a conglomerate of firms, including Consolidated Oil (an offshore company); Conoil and Equitorial Trust Bank.

It was uncertain which of the investments led to the arrest of the businessman.

As at press time, a source in the EFCC said that Adenuga was being held in connection with alleged evasion of Petroleum Profit Tax.

He could not give further details.

All oil companies are expected to pay PPT to the Federal Inland Revenue Service.

Another source said the businessman’s arrest had to do with the National Automative Fund deposited in his bank.

He said, “This is the second time he will be arrested. He was arrested in December 2005 but nothing was found against him.

But the EFCC source merely said, “It is too early to make any pronouncement on why Adenuga was arrested. But at the appropriate time, there will be a press release from the commission.

“We are still interacting with Adenuga. That is all I can tell you.”

When contacted, none of the public affairs managers of the firms owned by Adenuga was willing to react to the travails of their boss.

The spokesman of the EFCC, Mr. Osita Nwajah, could not be reached between 2pm and 10.30pm when the PUNCH went to bed.

The arrest of Adenuga, however, caused a major upset in the organised private sector, giving rise to speculations.

Some of the aides and associates of Adenuga alleged that his detention was politically motivated.

A source in the camp said, “I believe the detention has to do with the failed third term project. Some of his business colleagues felt that he was not keen on the agenda.

“At a point, some stakeholders in Transcorp were uncomfortable that he made a proposal that the nation’s business community should consider Plan B when it was evident that the third term project would fail.

“I think some people in the corridors of power thought Adenuga did not whole heartedly support the third term bid because he preferred some presidential aspirants.”

Adenuga is believed to be close to former military president, Gen. Ibrahim Babangida, and the Vice-President, Alhaji Atiku Abubakar.

A source in the Presidency confirmed last night that business associates and friends of Adenuga were desperately trying to reach President Olusegun Obasanjo over the matter.

They, however, could not have audience with the President, who is on a two-day visit to Kwara State.

It was learnt that the affected associates might meet with the President on Tuesday in Abuja.

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Mike Adenuga and his ilk should roast in jail if found guilty of any criminal charges!

MULTIOPTION- You committed the most egregious error by making this statement. You ought to know better. Nothing will happen to Mike Adenuga. You are just so ignorant.

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=Calche>Multioption: Can't we for one momemnt take Sowore out of the reports he writes and focus on the substance of the report. What is Sowore's crime in this report?
Here is the definition of so-called (skôld)
adj.
1. Commonly called: "new buildings ... in so-called modern style" Graham Greene.
2. Incorrectly or falsely termed: My so-called friends were gossiping about me again.
Usage Note: Quotation marks are not used to set off descriptions that follow expressions such as so-called and self-styled, which themselves relieve the writer of responsibility for the attribution: his so-called foolproof method (not "foolproof method").

Thesaurus puts it below
Adj. 1. so-called - doubtful or suspect; "these so-called experts are no help"
alleged, supposed
questionable - subject to question; "questionable motives"; "a questionable reputation"; "a fire of questionable origin"
Can you tell me where the writer erred please! In the absense of reliable stats and our terrible world of dubious everything, I like to side with that sentence, makes a lot of sense to me.

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Thanks for the lecture, but I'll pass! For starter: Who declares Mike Adenuga the richest man in Nigeria; and why can't we be objective and unbiased in our approach to issues of national interest? How can I separate the writer from the write-ups when all that screams at me in a report is the reporter? Oh well, maybe the enterprise - saharareports - is set up to flame just anybody - I wish them good luck!

It is in the interest of Mr. Sowore to separate human elements from his reports.

BTW: Mike Adenuga and his ilk should roast in jail if found guilty of any criminal charges!