Ace journalist and chieftain of the Peoples Democratic Party (PDP), Dele Momodu, has dismissed rumours of the death of billionaire businessman, Mike Adenuga.

Adenuga ranked as the fifth richest person in Africa by Forbes, is the founder of Globacom, Nigeria’s second-largest telecom operator with a presence in Ghana and the Benin Republic.

Speculations about the 71-year-old billionaire’s demise began to spread online earlier this week. However, in a tweet on Tuesday night, Dele Momodu dismissed the reports, confirming that Adenuga is alive and well.

He added that he had a telephone conversation with the businessman, who mentioned that he is still an active stakeholder in the Nigerian economy.

The false reports had sparked reactions across social media, with many expressing concern over the health of the reclusive billionaire. Adenuga, known for his significant contributions to Nigeria’s economy, has maintained a low public profile in recent years.

The politician wrote: “Ignore the fake news… The Spirit of Africa DR MICHAEL ADENIYI AGBOLADE ISOLA ADENUGA is hale and hearty. He’s right now at his desk working round the clock in support of the Nigerian economy… He just called me to thank everyone for their concern…” – DELE MOMODU.”

Adenuga reportedly made his first million in 1979, at age 26, selling lace and distributing soft drinks.