Toke Makinwa’s ‘Big god’ Festus Adeyi Loses Mansions, Company Over N240bn Debt

Toke Makinwa
Toke Makinwa

It is no longer News that Toke Makinwa is the small girl with a Big ‘god’.

Always dressed to the nines in designer labels and living like a princess, this On-Air Personality has become the toast of many due to her ‘baby girl lifestyle’ which she flaunts on social media.

Though Toke Makinwa still lives like a ‘baby girl’ and even had a cosmetic surgery that gulped millions of naira, her big daddy, 73-year-old former oil mogul,  Festus Fadeyi, who is also the chairman of Pan Ocean Corporation, an indigenous independent oil and gas company, has become a former billionaire.

Already, he has lost his private home on Modupe Alakija, street in Victoria Island, Lagos.

Not only that.

The mouth-watering mansion, which had served as the Fadeyi family’s home for several decades alongside others, has been confiscated by the Assets Management Corporation of Nigeria, AMCON.

The federal government agency took over Fadeyi’s Pan Ocean Corporation’s assets and those of its subsidiaries over bank loans totalling about N240billion.

Other properties seized from him include 33b, Adebayo Doherty Street, off Admiralty Way Lekki Phase 1; FF Towers, Plot 13/14 Ligali Ayorinde Avenue, Victoria Island; No. 8, Modupe Alakija Crescent, Ikoyi; No. 14, Modupe Alakija Crescent, Ikoyi, Lagos; Ark Towers situated at No. 17, Ligali Ayorinde Avenue, Victoria Island, and Plot 5 and Plot 822, Samuel Manuwa Street, Victoria Island, Lagos.

Fadeyi was a director cum shareholder at Skye Bank.

The oil and gas businessman was sacked, alongside other members of the board of directors, by the Central Bank of Nigeria, CBN, due to the bank’s liquidity and non-performing loans.

But Pa. Fadeyi, a father of five, allegedly spent extravagantly on Toke.

For instance, in 2017, he allegedly bought her a brand new Range Rover 2016 model worth over N50 million.

He is also responsible for her acquisition of top of the line and very expensive designer bags, shoes and apparels. From Louboutin, Bottega, Chanel, Louis Vuitton to Hermes among others,

‘Big god’ Fadeyi spoilt Toke silly with the most pricey stuff.

Thus the world’s most expensive designer brands became mere names on Toke’s list.

Whenever she visits London, United Kingdom (UK) via business class or first class flights paid for by Fadeyi, she spared no expenses at the city’s posh shopping points.

It is very interesting to note that Fadeyi foots such outrageous bills for Toke while he wallows in loan debt to his bank.

Despite the opposition of his family to the relationship with the divorced social media celebrity, Fadeyi went headlong and invested emotions and good money. 

In fact, it got to a stage that  Fadeyi’s children declared war against her, warning her to leave their father alone.

Toke Makinwa was said to have benefitted immensely from Fadeyi, earning herself a plush apartment on Bank Road, Ikoyi.

Little wonder, some weeks ago, Toke posted on twitter, urging women to be financially free, writing on social media that she bought her dream house at 35!

She wrote in parts, “Dear woman, I see you, you rock, keep raising the bar. Keep shattering the ceiling, keep pushing that envelope.

Financial freedom is a “must” for us women, being able to do for yourself certainly has to be the goal, it’s nice to have help, it’s nice to come from wealth but it is important to raise women to believe that wealth is not gender based

I am super proud of all the women out there steady building, I bought my dream home at 35, (not my first property) while there certainly isn’t an age cap, seeing young ladies do it in their 20’s is such an inspiration, I love you all, keep doing you.

Back to her ‘big god’ who has been stripped bare of his home and other properties, where does Pa Fadeyi go from here?

Meanwhile, Toke Makinwa is having a ball about town and still dishing out advice to girls on how to make money from ‘big gods.’

Additional reports: TheCapitalNG



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