Raheem Okoya, son of billionaire industrialist Razaq Okoya, has pushed back against claims that his lifestyle and ventures are funded solely by family wealth, insisting he earns his own income and attracts independent investors.
Speaking in an interview with BBC News Yoruba, the 22-year-old Executive Director of Eleganza Industries said he receives a personal salary and has secured financial backing for his music career.
“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,” he said.
Okoya revealed that he spent a decade understudying his father in preparation for his leadership responsibilities at the company, describing the transition as years in the making rather than an overnight appointment.
“I’ve been learning this position my whole life. From when I was in school, I’ve been shadowing my dad.
It’s been 10 years in the making,” he explained.
He credited his father for instilling financial discipline and entrepreneurial values, noting that the Eleganza founder built his business empire from scratch and expects his children to create wealth rather than depend on inheritance.
Despite his corporate exposure, Okoya acknowledged that his age presents challenges. “It’s definitely challenging.
People already look at you — you’re young — and they want to doubt you. You always have to prove yourself,” he said.
Beyond business, the Isale-Eko-born executive discussed his musical influences, citing Fuji icon King Wasiu Ayinde Marshal as a strong presence during his upbringing.
Okoya also addressed media portrayals of his life, criticising what he described as “fake news” and narrative distortions that paint him unfairly.
“They will take a little thing or completely change the narrative and perspective on me. It’s not nice. It’s painful,” he said, adding that his ultimate goal remains making his father proud.