R-E-V-E-A-L-E-D: Late Laolu Martins not Founder of Bukka Hut but ‘Minority Shareholder’

The Management of Bukka Hut, a Lagos-based leading Nigerian fast-food chain have explained that the company is owned by Rasheed Jaiyeola and not Late Laolu Martins.

NewsClick Nigeria reports that Martins died on Tuesday from injuries sustained after hitting his head on the stairs.

However, in a bid to clear air on its ownership status, the company in a statement released on Thursday said ‘Jaiyeola is the Founder, Chief Executive Officer (CEO) and a majority shareholder (jointly with his family) of Bukka Hut, a proudly Nigerian brand he built from one outlet in August 2011 to 24 outlets today’.

It further revealed that Jaiyeola and Martins were co-owners of Nigerian International Securities Lid (NISL) before the former resigned from his position as director in NISL to focus on Bukka Hut in 2016.

“Rasheed and the late Olaolu Martins were co-owners of Nigerian International Securities Lid (NISL) and naturally Laolu was one of the three people he invited to invest in Bukka Hut when he founded it in 2011, Rasheed resigned from NISL as a director in 2016 to focus solely on building Bukka Hut while Olaolu remained the MD/CEO of NISL and its related businesses”, the statement partly reads.

The statement added that the Bukka Hut business is run and operated solely by Rasheed Jaiyeola with the support of the senior management team.

It said contrary to viral reports, the late Olaolu was a minority shareholder and a valued supporter of the business who was not involved in the day-to-day operations of Bukka Hut.

The statement reads further: “The Board, Management and Staff of Bukka Hut continue to mourn the unfortunate passing of Mr. Olaolu Martins, who was an initial investor and a minority shareholder in BukkaHut.

“While Olaolu was not involved in the day-to-day operations of Bukka Hut, he was a valued supporter of the business, and he will be sorely missed by all staff and management. We pray for the strength and fortitude to bear this great loss.

“As we try to come to terms with the reality of Olaolu’s untimely passing, it is unfortunate that we are also constrained to address the gross misrepresentation of verifiable facts making the rounds on various social media platforms at this time.”

“While we urge all media platforms to refrain from disseminating unverified and inaccurate information, we also enjoin members of the public to kindly respect the privacy of the Martins family at this very difficult time.”