Around 3.am in the morning on Wednesday, Olalolu Martins, the proprietor of Bukka Hut, committed suicide at his home in the Lekki neighborhood of Lagos.
In a statement confirming the news, his family asked for everyone’s support and understanding as they privately mourned the loss of their beloved Laolu.
“Our kind request is that you support the family – wife, children, aged mother and father and his siblings with your prayers at this difficult time.
“Further announcements will be made by the family.”
The cause of his death was not disclosed by the family, however his buddy John Edgar claimed that the businessman committed suicide after becoming depressed after losing a bet.
According to Mr. Edgar, his sister called him to say that Mr. Martins had killed himself at 3.am in the morning, on Wednesday.
He said that the investment banker had made a disastrous mistake by betting against the dollar.
One of the co-founders of Nigeria’s most well-known fast-food business, Bukka Hut, was Mr. Martins. In 1999, he began working with PricewaterhouseCoopers.
He joined the Financial Control and Trade Finance/Foreign Operations divisions of the Bank when it was still known as Investment Banking & Trust Company Plc, today known as Stanbic IBTC Bank Plc.
Before quitting in 2005, he boosted his career at Stanbic IBTC Asset Management Ltd.
Later, he merged with Shell Nig. He served as Head of Investments for CPFA Ltd, the fund manager for the Shell Companies in Nigeria Pensions Scheme, until 2008.
He left his position to work for Nigeria International Security Limited, a private financial services company that specializes in investments in Nigeria.