He explained that the investment banker had taken a bet against the dollar, a decision which caused him a devastating loss.
The owner of Bukka Hut, Olalolu Martins, died by suicide at his residence in Lekki area of Lagos around 3:00 a.m. Wednesday morning.
His family confirmed the development in a statement saying: “We hereby solicit the support and understanding of everyone as the family grieves the loss of our beloved Laolu in our privacy.
“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.”
Though the family did not state the cause of his death, his friend John Edgar confirmed that the entrepreneur took his life after he fell into depression following a bet loss.
Mr Edgar claimed that he got a call from his sister that Mr Martins committed suicide around 3:00 a.m. on Wednesday.
He explained that the investment banker had taken a bet against the dollar, a decision which caused him a devastating loss.
Mr Martins was one of the co-founders of Bukka Hut, a leading fast-food chain in Nigeria. He started his career with PricewaterhouseCoopers in 1999.
He joined Investment Banking & Trust Company Plc now Stanbic IBTC Bank Plc where he served in the Financial Control and Trade Finance/Foreign Operations units of the Bank.
He advanced his career at Stanbic IBTC Asset Management Ltd before he resigned in 2005.
He later joined Shell Nig. CPFA Ltd, the Fund Manager of the Shell Companies in Nigeria Pensions Scheme where he was Head, Investments up till 2008.
He resigned to join Nigeria International Security Limited, NISL, an independent financial services firm specialising in investments within Nigeria.
