Was Nairahost Acquired By New CEO, Adeolu Akinyemi?
Update: We contacted Nairahost’s Emmanuel who emailed to say that Nairahost will release an official press statement later. We are eagerly looking forward to that.
I’m wondering how we missed the story about Nairahost appointing a Chief Executive Officer in January. But wait, didn’t they have a CEO before?
We didn’t know that Nairahost has faced a lot of problems regarding running the company smoothly, managing funny customers and financial limitations not until we saw the information posted on their blog.
Nairahost is the leading web hosting company in Nigeria founded in 2004 by Emmanuel Oluwatosin and Kayode Muyibi and two other people who we don’t know.
Nairahost recently sought for external funding (due to financial limitations, I guess) and in a deal that fetched them $500, 000 (about N85 million), according to information on their blog, they were able to appoint a CEO who’s supposed to oversea the company’s goals and visions.
Does that mean the newly appointed CEO invested in Nairahost? We think so. But, according to Nairahost’s blog:
Appointing a CEO into a company does not indicate a company has been sold out, rather it indicates that the company has take measures to take its business very seriously and achieve all its goals towards its ultimate vision. You might have heard or not, that Deolu Akinyemi is the current CEO of Nairahost Nig Ltd.
Deolu was a pioneering team member of Virgin Nigeria involved in building the airline from the scratch and setting up people systems. He now heads Generis Solutions as Managing Director.
So how did Nairahost possibly get half a million dollars, if they didn’t sell the company?
Well we think that the current CEO of Nairahost, Adeolu Akinyemi may have invested in the company for a stake, which gave him the top position. Whether Deolu bought Nairahost from the founders, Emmanuel Oluwatosin and Kayode Muyibi is uncertain, although they both still have a stake in the company as Kayode is the new Chief Technology Officer of Nairahost.
Funny that there was no official press release!
Again, the company’s about page doesn’t have the names of the Founders/Directors, except for Kayode as Chief Technology Officer. Now that we know who the CEO is, can we get a profile of the Boss?
Hey Roy, I never knew you could pry this deep
I never knew you had acquired a new role as “investigative journalist” in Nigeria’s web industry. Well, it was about time since the mainstream media simply ignores web-based companies. I guess the fellows behind nairahost would be glad to answer your questions.
$500, 000 is a huge pile of dough to throw at an obscure Nigerian web hosting company…I’m not buying this. Sorry.
Loy,na waa For this your investigation.Well you are right,There Must have been @ least am update the website about page/
and may i ask if nairahost has an obligation to answer all these???
As long as they remain a private company (not PLC), they have a right not to put up press releases nor put the names of company owners on their website. The last time i checked, most webcompanies do not put details of their founder/owner on their website officially.
Jeezzzzz…..