Business mogul and chairman of the Ibru Organisation, Olorogun Oskar Ibru, has passed away at the age of 67.

According to a statement by his family, reported by Arise News on Wednesday, Ibru died after a brief illness, with further details on the circumstances of his death not disclosed.

As a key figure in Nigeria’s corporate world, Ibru was one of the most prominent heirs of the Ibru dynasty, instrumental in sustaining and expanding the conglomerate established by his late father, Olorogun Michael Ibru.

The Ibru business empire covered various sectors, including shipping, oil and gas, real estate, and commerce. Oskar Ibru’s passing comes less than a decade after the death of the family patriarch, Michael Ibru, in 2016.

Funeral arrangements are expected to be announced soon. Media entrepreneur and publisher of Ovation International, Dele Momodu, reacted to the news, describing Ibru as “an extremely friendly gentleman and a socialite per excellence.”

In a post on his Instagram page, Momodu wrote, “News has just reached me in the skies that one of Nigeria’s most recognisable businessmen, OLORUNGUN OSKAR IBRU, has passed on… He was an extremely friendly gentleman, and a socialite per excellence, who was loved so passionately by families and friends… He was the son of the business Titan, OLOROGUN MICHAEL IBRU… Rest in peace, dear Brother…”