Tension in Ondo kingdom as rumours spread about death of Billionaire monarch Oba Frederick Akinruntan

Anxiety has gripped the Ugbo Kingdom in Ilaje Local Government Area of Ondo State following unconfirmed reports of the death of Oba Frederick Enitiolorunda Akinruntan, Okoro Ajija I, the Olugbo of Ugbo and founder of Obat Oil.

Sources told SaharaReporters that the 75-year-old monarch had been battling an illness for some time. However, at the time of this report, his alleged death could not be independently verified.

“We heard that he was flown out of Nigeria late last year because of his sickness. But maybe because he is a king, they are trying to keep his death hush-hush,” a source claimed.

Another source said, “People in his area are saying that he is dead, but they decided to keep the news from the public. Since last November or December, nobody has heard from him. We also heard that they have performed some rituals in his kingdom, but it was done in secret. They are only saying he travelled out.”

Oba Akinruntan, a well-known oil magnate, is the founder of Obat Oil, one of Nigeria’s largest privately owned oil companies. Born in 1950, he ascended the throne in 2009 following the traditional rites of the Ugbo Kingdom.

In 2014, Forbes estimated his net worth at $300 million, ranking him as the second richest king in Africa at the time, behind Morocco’s Mohammed VI.

In September 2019, the late Ondo State Governor, Oluwarotimi Akeredolu, appointed Oba Akinruntan as Chairman of the Ondo State Council of Obas for a two-year term.

For now, there is no official confirmation of his passing, but uncertainty continues to grow among residents of Ugbo Kingdom.