Raheem Okoya Dismisses Claims of Wealth Dependence

Raheem Okoya wealth claims dismissed as Eleganza executive says he earns a salary and attracts independent investors for music career

Raheem Okoya, Executive Director of Eleganza Industries and son of billionaire industrialist Chief Razaq Okoya, has rejected claims that his lifestyle and ventures are funded solely by inherited wealth.

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He earns a salary and secures independent investment for his music career.

Raheem Okoya addressed persistent speculation about privilege and financial dependency, insisting that his professional and creative pursuits are built on structured earnings and investor confidence.

“I’m not just spending the chairman’s money; I work. I earn a salary. I have investors. People believe in my music and put money behind it,” Raheem Okoya said.

The 22-year-old executive disclosed that he spent a decade shadowing his father in preparation for leadership responsibilities at Eleganza Industries.

According to Raheem Okoya, Chief Razaq Okoya was deliberate about instilling financial discipline and entrepreneurial values in his children.

Raheem Okoya emphasised that the Eleganza founder built the conglomerate from modest beginnings and encouraged his children to generate wealth rather than depend on inheritance.

“I’ve been learning this position my whole life. It’s been 10 years in the making,” Raheem Okoya said, describing the responsibility as both demanding and transformative.

Beyond corporate duties, Raheem Okoya acknowledged that age remains a formidable challenge in commanding authority within the business environment.

He noted that scepticism often accompanies youth, requiring constant proof of competence.

In the interview, Raheem Okoya also spoke about his musical influences, citing Fuji icon King Wasiu Ayinde Marshal as a strong presence during his upbringing.

Raheem Okoya concluded by expressing admiration for his father, describing Chief Razaq Okoya as his mentor and primary source of motivation.

He also criticised what he termed “fake news” and misrepresentation in sections of the media, arguing that public narratives sometimes distort reality for attention.

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The interview offers a rare personal insight into the pressures of succession, legacy and public perception surrounding one of Nigeria’s most prominent business families.