Nigerian-born British business mogul, Alafaa Kariboye-Igbo, alias Oilmoney, said he had been nursing the idea of floating a charity organisation for years but the advent of the Covid-19 pandemic catalysed the founding of his Oil Money Foundation. He disclosed this in a recent Instagram video chat with fans of Oil Money Records.
Oilmoney, who hails from Asari Toru, Rivers State, but have been a London resident for years, shed light on the circumstances leading to the founding of his charity organisation.
“Oil Money Foundation was founded on November 5, 2020, just in time to provide succour to those devastated by challenges arising from the nationwide Covid-19 lockdown in Nigeria.
Our immediate objective back then was the provision of relief materials to indigent families affected by the pandemic across the country. However, we have since recalibrated our objectives and expand our programmes to focus more on orphans and widows,” Oilmoney outlined.
Speaking further, he said: “You will notice that Oil Money Foundation has been up and doing with visits and donations to orphanages. We have done this in Lagos and Calabar, recently. At the same time, we are lending helping hands to widows, this we have done in Lagos and Edo states.”
He added: “In the case of orphans, we usually donate to orphanages cash, food and other needful materials like when we visited Friends of Jesus Orphanage in Lekki, Lagos, last month. And for widows, we give cash, foodstuff and empowerment materials, just as we did with 20 widows in Lagos and Edo.”
Asked by some of his Instagram followers, for clarification about rumours that he is abandoning his record label and other businesses to focus on philanthropy, Oilmoney clarified: “There is time for everything.
Once upon a time, I was strictly an oil and gas businessman; then there came a time when I diversified into auto sales and real estate, and music, but presently, my focus is philanthropy. That doesn’t mean I am jettisoning my other business activities. I am simply focusing on philanthropy for the foreseeable future.”