The Ikoyi Club, an elite social organisation in Lagos has announced the suspension of Mr Modupe Alakija, the husband of billionaire and business mogul, Mrs. Folorunsho Alakija, for allegedly assaulting a fellow member.
Mrs. Alakija, a woman of enormous wealth and power, had in 2019 emerged as the richest African woman, according to Forbes Black Billionaires List, with a net worth of $1.1 billion, even though the figure has dropped in the last two years.
Ikoyi club made the announcement suspending Alakija’s husband in a press statement signed by its Secretary, Bamidele Ibironke and sighted by The New Diplomat.
In the statement, the club said the suspension of Alakija took effect from December 1, 2021 and will last till November 30, 2022.
The club said the popular socialite was slapped with a one-year suspension for allegedly assaulting a fellow member. He was alleged to have slapped a prominent member of the group, over being rude.
The statement reads, “The above-named member of the Club is hereby placed on a one year suspension from the Club for physically assaulting and abusing a fellow member, conduct injurious to the interest of the Club, thereby violating Rule 9(C) of the Club’s Rule Book.
“This suspension takes effect from Decemebr 1″, 2021 to November 30 2022.”
Folorunsho Alakija is the Vice Chairperson of Famfa Oil Exploration Company incorporated in September 1991 and was awarded the leasehold rights to OPL 216 in the lucrative Agbami oil fields on the 10th of August 1993.
Her husband, Modupe Alakija is the Chairperson of the company and her children, Dele Alakija and Ladi Alakija sit on the Board as well.
Although Forbes pegged her net worth at $1bn it also reported that the figure dropped in 2021 due to lower oil prices as her business interests revolve largely around black Gold, The New Diplomat learnt.
Also, the 2020 list of Africa’s Billionaires had placed her at 20th position in Africa.
