Nigerian Oil Tycoon, Okoloko Reportedly Burdened By Multi-billion-naira In Debts To Estranged Wife’s Company, Enmeshed In Divorce Scandal
According to SaharaReporters, Nigerian businessman, Onajite Okoloko reportedly owes his estranged wife, Salma Okoloko, and her company, Techtonic Oil $37 million and N5.3 billion respectively through his company, Eroton Exploration.
The duo are currently enmeshed in a messy divorce following allegations of extra-marital affairs.
Onajite Okoloko
Okoloko is currently the Group Chief Executive Officer and Managing Director of Notore Chemical Industries Plc (“Notore”).
The oil mogul is a founding partner of the Ocean & Oil/Oando Group and a former member of the Board of Union Bank of Nigeria Plc.
He is also the Chairman of Midwestern Oil & Gas Limited (“Midwestern”) and the Chairman of Eroton Exploration & Production Limited (“Eroton”).
Eroton admitted to owing $14 million and N2.9 billion for the said contract executed. But his estranged wife’s company put the amount at $37,147,654.25 and N5,308,689,150.84, saying the “said amount is all-inclusive of the disputed and reconciled sums”.
Despite a US court ordering the Nigerian billionaire to pay his debt, family members of Salma claimed he filed for a divorce in 2020 and threatened to kick the wife out of their Florida home with their two kids.
“The funny part is, instead of filing for a divorce in Florida in the U.S. where they got married and where he confirmed as his place of residence, he went to Badagry, Lagos, paid a judge to assume jurisdiction and take the divorce case,” Salma’s relation alleged.
“The divorce case is now at the Appeal Court where Okoloko is also planning to pay judges to give him a favourable judgement.
“Okoloko and his Eroton Exploration have been in and out of the Economic and Financial Crimes Commission office (EFCC) after he is accused of mismanaging OML18, under-reporting production of the oil field which under him, fell from 30,000 barrels per day to 1,000 barrels per day.”
