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Meet Adeniyi Makanjuola, the brain behind Caverton Helicopters

His name is Adeniyi Makanjuola and he is our corporate personality of the week. Get to know him.



Some of us cannot get enough of the Makanjuola brothers and their father, and this is understandable. They are all successful businessmen who are shaping Nigeria’s corporate environment, albeit silently.

But while two of the brothers- Olabode and Rotimi Makanjuola- seem to be the most visible ones, there is yet another Makanjuola brother who is equally doing great things in the business world.

His name is Adeniyi Makanjuola and he is our corporate personality of the week. Get to know him.

Adeniyi Makanjuola’ background

Born on the 16th of February, 1980, Adeniyi Ibraheem Makanjuola is a 38-year old Nigerian entrepreneur and business executive who is passionate about identifying “systemic gaps in hypercompetitive markets.”

Consequently, he has over the years developed and implemented innovative business models which are aimed at filling up identified gaps.

Adeniyi studied Financial Economics at the University of Essex, graduating in 2001 with a degree in Financial Economics. He is also an alumnus of the University College London, where he studied Urban Planning and Development Economics, graduating in 2002 with an M.Sc.

How he co-founded Caverton Helicopters

As you may already known, Caverton Helicopters is an integral part of Caverton Group which generates a lot of its revenues and profit. But not a lot of people are in the know that the company is the brainchild of Adeniyi Makanjuola.

Following his return to Nigeria upon the completion of his studies in the United Kingdom, he identified a major gap in Nigeria’s oil and gas sector and set about solving it.


While he was still a student in the UK, he learnt how to fly helicopters, and took rotary wing flight training and other aviation industry courses. This experience availed him of an understanding of the aviation industry, even as he came to the realization that he could disrupt the oil and gas sector in Nigeria using the new skill he had acquired. Note that at this time, the oil and gas industry had no active helicopter services provider.

Today, Caverton Helicopters has successfully leveraged the status of its parent company (Caverton Offshore Support Group Plc) to become one of the biggest players in the sector. The company currently has the largest fleet of ultramodern helicopters operating in Nigeria and Sub Saharan Africa.

Adeniyi Makanjuola

On his professional attainments

Chairman/Co-Founder of Caverton Helicopters, 2002 to present: Since about sixteen years ago when he co-founded Caverton Helicopters, Adeniyi has worked hard to position it for success. Some of the roles he performs in the company are listed below:

  • He is responsible for the corporate governance and general statutory corporate compliance issues of the company. Also, as part of his corporate governance role, he oversees the incorporation of new subsidiaries of the company.
  • He is also responsible for contract management and oversight tenders; he played a major role in securing the company’s long-running  contract with oil companies like Shell, Total, etc.
  • He has also negotiated loans and supervised other similar transactions, including security trust documentation and debentures.  
  • It is also his responsibility to be on top of any impending acquisition by the company. He oversees all the pre-acquisition procedures and carries out background studies on companies that Caverton wants to acquire. In the same vein, he advices on corporate/legal compliance.
  • Adeniyi also oversees employment and labour matters by providing advice and documentation pertaining to appointment and separation of employees.

Mr Makanjuola is the Chief Operating Officer at Caverton Offshore Support Group Plc. This is based on information contained in the company’s 2017 full year financial report.

He is also a Director in Visionscape, a UAE-based sanitation company in which his family has stakes. One of the company’s subsidiaries recently secured a lucrative contract with the Lagos State Government to manage waste in the city.

He is also a Director at Raven General Petroleum LLC, a UAE-based energy-trading commodity company. He has held this position since 2010.

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Not much is known about Adeniyi’s personal life as he seems to be a very private person. As a matter of fact, he literarily minds his businesses, and as we can see from the foregoing, he has quite a few of them, with sizable amounts of personal investments in different public and private companies in Nigeria, the Middle East and Europe.

Caverton Offshore Support Group (COSG) Plc ‘s results for the first quarter ended March 2018 show a dip in revenue. Revenue declined by 10.66%, standing at ₦4.5 billion as against ₦5.1 billion in Q1 2017. Profit after tax for the period, however, increased 36.64%; ₦293 million compared to ₦214 million.

Caverton is currently trading at ₦1.90 in today’s NSE session.

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

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Billionaire Watch

Meet King Maha of Thailand, the richest royal figure in the world

The Thai king, Maha Vajiralongkorn is several times wealthier than his British counterpart.  



When it comes to monarchies and royal families, the British Royal Family is easily the most revered of them all. One might begin to think they are the wealthiest. Well… they are not! 

They are not even in the top five list of wealthiest royal families. 

In today’s article, we will look at a monarch who is several times wealthier than his British counterpart.  

READ: The UK Royal Family is worth $28bn, here’s how they make their money

Meet King Maha Vajiralongkorn 

The 63-year-old king of Thailand who took over his father’s throne is currently the wealthiest royal figure in the world. His late father King Bhumibol Adulyadej passed in 2016 and was the longest-serving monarch in the world. 

After the coronation of the new King Maha Vajiralongkorn, a strange communique was published on the royal website. The entire portfolio of the Crown Property Bureau was to be transferred into the hands of the new king.  

Before this announcement, The royal portfolio worth over 40 billion dollars was held by the king on behalf of the nation but now it was to be transferred to the new king. Subsequently, King Maha officially became the richest monarch in the world with a personal net worth and assets valued at $43bn according to the South China Morning Post.  

READ: There are only 15 black billionaires in the world, here are the top 10


King Maha’s major assets  

The bulk of King Maha’s net worth comes from three major assets:

  • A 23% stake in Siam Commercial Banks, one of the largest commercial banks in Thailand. The bank is valued at $1.7bn according to the Financial Times.  
  • A 33.6$ stake in Siam Cement Group which is the country’s largest industrial conglomerate.  
  • 16,000 acres of prime Thai land and over 40,000 rental leases with developers. 

READ: Queen Elizabeth II Isn’t As Rich As You Think

A call for change  in Thailand

According to Financial Times, recent protests and critics have called for a serious review of the monarchy’s grip on the country and its finances. The protesters led mostly by students are of the opinion that public funds should not be made available for a king.  

Thailand runs a system of government known as Constitutional Monarchy where the king is the Head of State.  

King Maha’s lifestyle of luxury  

King Maha spends most of his time in Germany and has a stunning fleet of 38 aeroplanes and helicopters. His second wife Queen Sineenat is a trained military pilot.  

King Maha owns the largest faceted diamond, a 546.67-carat brown diamond.  

READ: A Look back at Jay Z’s Road to Billionaire Status

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What you should know  about the Thai economy

Thailand is the eighth largest economy in Asia and the 22nd largest export economy in the world.  

The GDP of Thailand is calculated as $505 billion, which results in a GDP per capita of $7,274.  

King Maha is the richest royal figure in the world and he is closely followed by the Sultan of Brunei Hassanal Bolkiah and the king of Saudi Arabia Salman bin Abdulaziz Al Saud.  

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Ibiene Okeleke: A diva in HR and Management

Ibiene Okeleke is an Executive Coach passionate about people development, career development and youth empowerment.



With about three decades of a rich and boisterous career across the financial and the energy sector, Ibiene Okeleke has earned bragging rights not just for her skills but her results and accomplishments across human resources and retail banking.

Through the years of working in different firms, Okeleke has shown skills in business development, negotiation, succession planning, talent management, organisational development and job evaluation.

READ: Nigeria’s Energy boardrooms: Why are the women outside? 


Ibiene got admitted into the University of Lagos in 1989 and obtained her first degree in Industrial Relations & Personnel Management from the University of Lagos in 1993. Okeleke got a quick career start immediately, obtaining the rest of her degrees while working.

She completed an MBA at the IESE Business School, University of Navarra, Spain in 2002, and also got an Advanced Human Resources Executive Degree from the Ross School of Business, University of Michigan.

Okeleke has also completed a Strategic Human Resource Training course at Harvard Business School, and she is a certified Prince 2 Practitioner.

She has a LinkedIn certification in Leadership Foundation: Leadership Styles and Models; Creating a Communications Strategy; and How to Create and Run a Brilliant Remote Workshop. She also has a Coursera certification in the Electric Industry Operations and Markets.

READ: 7 female executives under 40 in FinTech


Career Progression

Okeleke started out her career in 1994, at Inlaks Computers as HR Officer and spent 5 years in the position.  She joined FSB International Bank Nigeria as a Human Resources Officer and spent nine months in the role before heading the Liability Generation Unit of the bank until Feb 2001.

She went on to lead the Human Resources department at Bond Bank Nigeria for the rest of 2001 and later, at Assurance Bank Nigeria Ltd between 2002 and 2006.

Her foray into the energy and power sector started with a role as the Group Head of Human Resources at the Sahara Group in 2006. After the privatisation of the power sector in 2013, she moved to Ikeja Electric as the Chief Human Resources and Administrative Officer and positioned the company to become one of the most notable and leading distribution companies in Nigeria.

In May 2019, she resumed at Energy Training Center (ETC) as the Managing Director. As the leader of this strategic learning academy, she has positioned the institution to provide a wide range of learning interventions for the entire Energy sector. The Academy is focused on capacity building through bespoke learning experiences with the perfect blend of technologies and techniques to achieve organizational and personal success.

Ibiene Okeleke is also an Executive Coach passionate about people development, career development and youth empowerment, and serves as an adviser on some Not-For-Profit Boards.

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