This Nigerian Billionaire Paid £500,000 To Bail His Friend From Prison

He was the man who held down Nigeria and Europe with his flamboyant lifestyle in the early 2000s. Nicknamed "Mr Versace" by his friends, he was one of the biggest boys in Nigeria, with connections in high-ranking places. Before the advent of social media platforms like Instagram, and before the rise of famous Nigerian socialites like Hushpuppi and Mompha, Nigeria had prominent men who covered magazines due to their extravagant lifestyles; one of them was known as Terry Waya.

Terry is a 55-year-old businessman who hails from the Tiv speaking part of Benue State but is currently based in London, United Kingdom. Typically known for his love for Versace, Terry Waya has been regarded as a well-respected socialite, ranking among top Nigerian billionaires like Dangote and Otedola. Terry Waya is also the father of Kiddwaya, one of the 2020 Big Brother Naija housemates. He reportedly has high-income businesses worldwide and has sponsored many Nigerian politicians. 

Everything in Terry Waya's house is made of Versace.

Terry Waya's mansion

During his 40th birthday in London, Terry Waya threw a lavish party with 10 Nigerian governors in attendance. Due to its sheer opulence, Terry’s birthday was popularly referred to as the “mother of all birthdays” in the UK and, contemporarily, still remains a point of reference to high-octane parties.

Even at his age, Terry Waya has maintained his unrepentant lifestyle of partying worldwide with different ladies. The self-made billionaire is usually seen in the company of governors, senators and celebrities. In fact, he once boasted in a publication that he only drinks from water bottles made in Paris. As if that was not enough, he offered £500,000 to bail out a former governor of the oil-rich Bayelsa state who was detained in London on corruption and money laundering charges. Although Terry does not make it to the news as much as in his prime days, he still notoriously flaunts his wealth on his Instagram page

In 2020, the billionaire's son, Kiddwaya, revealed to housemates on a Nigerian reality TV show, Big Brother Naija, that he has been to every continent in the world. On a different occasion, Kiddwaya said he once paid $8000 to charter a private plane from Abuja to Lagos (and it's only one hour of flight time).
Segun Alabi

Segun Alabi is a news reporter at HotNaija. He covers a wide range of topics including news and celebrity showbiz

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