Ibadan Billionaire, Alao Arisekola’s Financial Crisis Worsens *Cuts Children Monthly Allowances

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Alao Arisekola
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Alao-Arisekola
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Indication from the stables of one time Ibadan billionaire, Alao Arisekola popularly called the ‘Asiki of Ibadan’ (wealth of Ibadan) is that all is not well with his dynasty.
Perching birds authoritatively revealed to Societyreelnews that the Aare Musulumi’s financial crisis is getting worse by the day and as a result of that he has cut his children monthly allowance from a whooping sum of N2,000,000 (Two million naira) to N800,000 (Eight hundred thousand naira).
Aare’s philanthropic acts too have dropped recently. Information at our disposal has it that unlike is regular gesture of sending dozens on pilgrimage annually, he couldn’t afford to send a soul to the holy land this year.
Several debts are alleged to have been incurred by the multi billionaire and his children. Some of which have sent the EFCC (Economic and Financial Crimes Commission) watchdog on their tail.
Though, fingered in the subsidy scam, things have been different for the said billionaire as some now describes him as ‘the man that spends yesterday’s money’ meaning that his time of show-off has past.
Roadside radios revealed that some months back, a wealthy young girl donated a large sum of money at an event which also had the Aare present. The mouth watering donation of the lady got Aare infuriated as he did not contribute up to half of what the girl donated.
Companies that belonging to him, handed over to his children are reported to have been squandered to the extent that even machine parts are being sold leaving the company in huge debt mess.
Those close to the former ‘big-spender’ who preferred anonymity claimed he might bounce back with his involvement with a northern political big wig that is among beneficiaries of the Power Holding Company of Nigeria’s privatization.

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