Kola Aluko’s ₦15B Yacht, Galactica Star, finally goes to the highest bidder  

07/31/2019

Posted by: Joshua-Philip Okeafor

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Kola Aluko's yacht was sold for ₦15B as part of Nigerian Government efforts to recover alleged looted funds from elements of the Goodluck administration. Check more details below!

Okay, the Naijauto News is that Kola Aluko’s $80m or ₦15B yacht has been sold in a hush-hush deal that was brokered by the Nigerian Federal Government and the Justice department of the United States.

Kola Aluku, along with others that include Diezani Alison-Madueke, formerly Nigerian Petroleum Minister, is under investigations on allegations of siphoning $1.8 b (₦648 billion) of public funds.

Galactica-Star-yacht

Galactica Star is over 200 feet of water borne luxury

Galactica Star is a 213 foot super-yacht that can house 12 guests in super luxury. Among other facilities, the yacht carries a bar, swimming pool, sauna and living quarters that include a VIP stateroom, master suite, as well as four double regular cabins.

The luxury super yacht was initially placed on classifieds at a list price of $42 million or ₦15 Billion in a bid to recover the alleged stolen funds. Galactica Star finally went to the highest bidder earlier this month, specifically on July 25th. The Buyer on record is Burgess, though the exact details of the deal remain shrouded in mystery as a result of the legal parameters of the exchange.   

>>> How is it in comparison with Aliko Dangote yacht: Inside Aliko Dangote’s ₦15.5 Billion Luxury Yacht - revealed by Anthony Joshua & sis!

 General-area-of-super-yacht

General area of the $80m super yacht

The transaction also had to be ratified by a United States Federal Court. It was estimated that combined dock rental fees per month come to about $170,000 or ₦61.2m.

Among other accusations leveled on Mr Aluko and company by the US Justice Department are allegations of money laundering, and using the same proceeds to purchase the Yacht, houses, 58 assorted vehicles, watches, as well as private jets.

The sale of the Galactic star will hit the global entertainment sector hard, as it has several times played host to a number of high net worth entertainment practitioners including music royalty, Beyonce and Jay Z.

>>> By the way, check Lion King: Beyoncé’s car collection, private jet & magnificent mansions, compiled by Naijauto.com!

Jay-Z-and-Beyonce-on-yacht

Jay Z and Beyonce have stayed on the luxury yacht 

>>> Get more celebrity News on Naijauto.com!

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Joshua-Philip Okeafor

Joshua-Philip Okeafor

Car buying & selling

Joshua, or KK as friends call him, is a Filmmaker, Writer and Director. A Christian, Joshua is a product of Nigeria’s foremost film school, the National Film Institute, Jos, where he majored in Writing/Directing. Joshua began his writing career at age 18 when an older brother gave him a four page outline of a children novel. Joshua intends to keep writing and directing. His screen name is sometimes Joshua Kalu Ephraim (Writing), and sometimes Joshua KK (directing).

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