Mike Adenuga is one of Nigeria largest house hold names that ring a bell and has an inspiring tales about his moves to the top as a financial GIANT...

THE NIGERIA BEST PRODUCT IS PROUD TO PRESENT ONE OF THE STRONG PILLARS OF FINANCE , TELECOM AND ENERGY IN NIGERIA AND BEYOND. THERE IS NO OTHER THAN.....
MIKE ADENUGA

Mike Adenuga Junior (b.April 29, 1953) is the Nigerian cHairman Chief Executice Officer of Globacom.

Adenuga's rise to wealth and accompanying fame is an interesting story. His resolve to succeed against all odds started when, while in America, he worked as a taxi driver and security guard to sustain himself in school.

Born on April 29, 1953, Michael Adeniyi Isola Adenuga had his secondary school education at the Ibadan Grammar School, Ibadan, Oyo State, before proceeding to the North-Western University in Oklahoma and Pace University, New York, both in the United States where he studied business administration.

At age 26, Adenuga had already become a millionaire with connections in high places. With his unique flair for risks and sheer tenacity of purpose, in no time he started reaping profits in billions. He owns Equitorial Trust Bank and Consolidated Oil, which carries out crude oil drilling, refining and marketing.

His first shot into the consciousness of Nigerians was when his company, Consolidated Oil became the first indigenous company to strike crude in December1991. He recently made foray into the telecommunications sector. With his Communications Investment Limited, CIL, he was issued a conditional licence in 1999 and frequencies to operate the Global System of Mobile Communications (GSM). The licence was later revoked. Again, when in 2002, the government through the Nigerian Communications Commission (NCC), organised new auction for the GSM licence, the CIL participated and was one of the four that won the bid. He paid the $20 million mandatory deposit.

However, in the process of effecting the release of the balance payment of $265 million, the company was adjudged to have failed to pay within stipulated time. CIL lost both the licence and $20 million deposit. He later went on to bid for the Second National Operator (SNO) licence, and deposited another $20 million. This time, he was lucky.

He won the bid in August 2002 through his Globacom Limited. The SNO has a wider range of operations as Globacom has the right to operate as a national carrier, operate digital mobile lines, serve as international gateway for telecommunications in the country and operate fixed wireless access phones.

Adenuga's estate business and company shares traverse several countries in Western Europe, North America and the Middle-East.

There is no question about Globacom chief, Dr. Mike Adenuga, being in the billionaires’ league. Indeed, some say with the telecommunications firm, it could have become so even within one month. It was a bit of an uphill task discovering this Ijebu man’s worth, especially as he rarely discusses his wealth or grants press interviews.

When banking was becoming the vogue in Nigeria, and most investors did not know what to do with one license, Adenuga alone grabbed two, and started Devcom Merchant Bank and Equitorial Trust Bank. Many years down the line, as even the biggest banks struggled to raise the mandatory N25Billion recapitalization, Adenuga effortlessly stunned the industry when he simply merged his two banks and fulfilled all righteousness as demanded by our Central Bank, and his two banks became one Equitorial Trust Bank.

Also, when Nigerians were allowed to bid for oil wells, Adenuga was bold enough to go for both on-shore and off-shore licenses. Characteristic of some of our people, they alleged that he had cashed in on his powerful contacts within the ruling military elite to win the best sites, and that while the voice belonged to Jacob, the hand clearly was that of Esau, as if they would have rejected such opportunities if indeed it came their way. No one was willing to consider his capabilities, or his propensity for hard work. He confounded his traducers when Consolidated Oil became one of the foremost indigenous firms to discover oil in commercial quantities; and he has maintained the lead many years after his so-called sponsors left power. We must learn to give honor to whom it is due, and seek to encourage hard work. Given the same opportunities, many would have found it difficult to excel like Adenuga.

As an entrepreneur who dared where others feared, Adenuga’s wealth increases by GSM calls. His estate business and company shares traverse several countries in Western Europe, North America and the Middle-East. Son of an astute trader, the late Ma Oyinkansola Adenuga, 54-year-old Adenuga is an astute businessman, who dabbled into telecommunications at a time the industry was going through teething problems. Having gone through the thick and thin of the industry to emerge the second national carrier, his Globacom is ruling Nigeria, and perhaps the world, as its name goes, just as its owner smiles to the bank.

He won the bid in August 2002 through his Globacom Limited. The SNO has a wider range of operations as Globacom has the right to operate as a national carrier, operate digital mobile lines, serve as international gateway for telecommunications in the country and operate fixed wireless access phones.

Adenuga will certainly continue to rule in years to come, especially with his Conoil, Equatorial Trust Bank Plc (ETB), GLOBACOM and other investments at home and abroad.