False Death Report Sparks Confusion
A Nigerian financial community was rocked by false reports of the death of Mr. Daniel Odoviano Oniko, Group Managing Director/CEO of Parofund Multipurpose Cooperative Society Limited and former Heritage Bank regional executive, towards the end of 2025.
The Atlantic Post can authoritatively confirm that Mr. Oniko is alive and well, having returned from the United Kingdom on Sunday to dispel the rumours.
The erroneous news circulated online in December. It claimed that Oniko had “slumped and died” suddenly. It even cited a memorial website and condolence messages as “confirmation” of his demise.
In reality, these tributes and a memorial page were dedicated to Mr. Oniko’s cousin, Mr. Daniel Okeoghene Oniko, who passed away on 13 December 2025.
This case of mistaken identity led to an outpouring of premature condolences. Friends and colleagues in Nigeria’s financial sector offered these condolences. All of them have since been retracted or corrected.
Mr. Oniko’s reappearance has decisively debunked the death hoax. Speaking with Atlantic Post upon his arrival in Lagos, the Parofund founder expressed relief and a touch of bewilderment:
“It’s surreal to read your own obituary,” he said wryly, “but I’m grateful to God and everyone who checked the facts. I am very much alive.”
He further clarified that he had been on a business and family trip to the UK during the holidays. This perhaps made him unreachable. It unintentionally fuelled the false report.
Mr. Oniko extended condolences to his late cousin’s family and gently chastised those behind the rumour for poor fact-checking. “We must be careful with information,” he urged, noting how easily unverified news can spread panic.
Official Denials and Misinformation Fallout
Parofund’s management moved quickly to squash the false news. A spokesperson for Parofund Multipurpose Cooperative condemned the death report. The spokesperson described it as “malicious and utterly false.” They urged the public to rely only on official channels for news about their executives.
Insiders say the company’s communication lines were inundated with calls from investors and cooperative members concerned about the founder’s “death.” Similarly, Heritage Bank colleagues were alarmed by the rumour, remembering Oniko’s tenure as a respected Regional Manager in Abuja.
One former colleague admitted to Atlantic Post that the situation was “a nightmare scenario”:
“In our industry, losing a leader of his calibre would be huge. Thank God it was fake news.”
Financial industry observers note that this incident highlights the dangers of misinformation in the digital age. Just as Hollywood actor Danny Trejo recently had to publicly debunk a death hoax, Nigeria’s business figures are not immune to viral falsehoods.
Analysts warn that unchecked rumours can affect not only reputations but also business operations – from stock prices to stakeholder confidence.
“Someone literally declared the man dead without verification,” an analyst said, adding that the confusion could have unsettled Parofund’s stakeholders if it had persisted.
Cousin’s Passing and Name Mix-Up
The real tragedy behind the confusion was the death of Mr. Oniko’s cousin, Mr. Daniel Okeoghene Oniko, in December 2025. Family sources confirm that the late Mr. Okeoghene Oniko (aged 57) “slept in the Lord” on 13 December 2025, after a brief illness.
He was a beloved member of the extended Oniko family – a prominent Isoko dynasty – and the founder of an oil and gas firm. In fact, the illustrious Oniko family of Irri Kingdom had multiple high-achieving members sharing the name Daniel. This contributed to the mix-up when news of “Daniel Oniko’s death” surfaced online.
Crucially, Mr. Daniel Odoviano Oniko (the Parofund CEO) is a different person from the late Mr. Daniel Okeoghene Oniko. The two are cousins, and both were influential in their respective fields.
Sources close to the family revealed that a few well-meaning condolence posts on social media omitted the middle name or context. This led readers to assume the high-profile cooperative CEO had died.
One emotional tribute on Instagram, for instance, referred to “Daniel Oniko.” It spoke of plans for a “victory dance” that would never happen. Insiders say this was a reference to a personal celebration the late cousin had planned.
Such posts were quickly taken out of context by blogs eager for sensational headlines. The memorial website (on ForeverMissed) further compounded confusion as it listed only “Daniel Oniko” in its title, which many mistook for the Parofund CEO.
It is now clear that all these memorials were for Mr. Okeoghene Oniko, and the family is reportedly considering a clarifying statement to prevent future misunderstandings.
Evidence of Life: Title Honours and UK Engagements
Ironically, one of the key claims of the false report – that Mr. Oniko had been honoured posthumously by his community – is disproven by facts on record. On 5 December 2025, Sir Daniel Odoviano Oniko received the prestigious traditional title of “Ogba of Irri Kingdom”. This title means “Strong Warrior of Irri”. The conferment took place in his hometown in Delta State.
This chieftaincy title was bestowed in person, during a well-attended ceremony to celebrate Mr. Oniko’s contributions to business development and community leadership. Photos from the event and coverage in national media show Mr. Oniko alive, resplendent in traditional regalia, receiving his staff of office amid cheers.
This honour was in fact bestowed upon Mr. Daniel Odoviano Oniko, recognising his impactful contributions to the community and the Isoko nation.
Contrary to some reports that mischaracterised this as a posthumous award, the title was conferred while Mr. Oniko was very much alive and present.
The traditional council of Irri Kingdom has also refuted any suggestion that the ceremony was in memoriam.
“We celebrate our sons when they are alive,” an Irri palace official said, “Chief Oniko’s title was a celebratory milestone, not a memorial.”
These incontrovertible facts underscore the importance of verifying information. A man cannot be receiving honours in early December. He cannot be “confirmed dead” later that month, as the rumour suggested.
Additionally, Mr. Oniko’s professional engagements in late 2025 further prove he remained active. In November 2025, while rumours of his health swirled, he was actually focused on expanding financial inclusion programmes.
Paroflex Multipurpose Cooperative Society Ltd, an affiliate of Parofund, rolled out new Contributory and Micro-Credit Schemes to empower communities nationwide.
As Group Managing Director of Paroflex and CEO of Apices Finance Ltd, Oniko spoke with journalists about these initiatives in Abuja. He emphasized his commitment to helping everyday Nigerians achieve financial stability. This will be done through structured savings, affordable microloans, and investment opportunities.
“Our goal is simple – we want to see more Nigerians achieve financial freedom through the power of cooperative strength, savings discipline, and access to credit,” Oniko said at the time.
Far from being on his deathbed, he was actively championing new projects and was even overseas networking.
In September 2025, the Central Bank of Nigeria officially licensed Apices Finance (Oniko’s company) to operate as a finance company. This was a milestone. He celebrated it enthusiastically.
“My joy knows no bounds… Our vision is to empower Africa’s next generation of business leaders,”Oniko declared upon receiving the CBN licence.
He highlighted plans to support small businesses and startups – “the lifeblood of Nigeria’s economy” – noting that “they create jobs, drive innovation, and build communities. When we invest in them, we invest in our future”.
These statements, made just months ago, ring hollow any notion that Mr. Oniko had “passed away” prior to year-end.
A Legacy of Leadership in Finance and Community
Mr. Daniel Odoviano Oniko’s survival is not just a personal relief. It is also significant for Nigeria’s financial sector. This is due to his prominent role in the cooperative finance movement.
An experienced banker-turned-entrepreneur, Oniko carved out a niche in inclusive finance after over 20 years in commercial banking. He had risen to become a Regional Manager at Heritage Bank by 2020, known among colleagues as “an astute and vibrant professional…a financial expert with flair”.
In 2024, he launched Parofund Multipurpose Cooperative Society Limited, which is recently branded as PAROFLEX. It is headquartered in Abuja. The cooperative aims to provide innovative financial solutions for underserved populations.
Under his leadership, Parofund/Paroflex quickly became a household name in cooperative finance, offering services from micro-loans to “Save & Pick” thrift schemes.
Within a short span, the cooperative amassed hundreds of members. It partnered with government platforms like the federal IPPIS payment system. This partnership aimed to reach public servants with easy credit.
Oniko’s approach exemplifies the broader trend in Nigeria’s financial landscape: the rise of microfinance and cooperative societies to bridge gaps left by traditional banks.
According to Central Bank data, Nigeria’s microfinance industry has been experiencing explosive growth – total assets reached ₦2.8 trillion by mid-2024, up 91% from the previous year – reflecting public demand for accessible, community-based finance.
Parofund’s initiatives align with this trend, focusing on grassroots impact. Late last year, the cooperative introduced a Food Items Target Savings plan. This initiative enables low-income families to save as little as ₦200 daily. These savings are directed towards bulk food purchases.
This scheme helps households plan ahead. It reduces the pressure of food inflation. Oniko explained this in November, highlighting his keen awareness of the everyday challenges Nigerians face.
Oniko’s model strives to combine digital platforms with age-old community solidarity. These platforms include real-time tracking and AI-driven budgeting tools. The aim is to “restore dignity, stability, and hope in the lives of our people”. Such was the ongoing work and vision of the man some outlets mistakenly claimed was no more.
Continued Service and Reputation
As the air clears around the death hoax, Mr. Oniko’s focus is firmly back on his twin missions: enterprise and empowerment. In a statement released on Sunday afternoon, he reaffirmed his commitment to Parofund/Paroflex’s projects. He thanked clients and partners for their concern. He assured them that operations remain uninterrupted.
“I am back, re-energised and ready to continue our work of building lasting wealth for Nigerians,” he stated.
Indeed, industry watchers suggest that the wave of support Mr. Oniko received amid the confusion may even bolster trust in his brand.
The Atlantic Post business desk notes that public figures in Nigeria’s finance sector have weathered similar storms of rumour. They emerged with greater visibility.
For Mr. Oniko, the episode has unwittingly shone a light on his contributions. These stretch from his Heritage Bank days to his current role as a “financial inclusion crusader.”
Meanwhile, tributes that were mistakenly directed at him have now been redirected appropriately to honour the late Mr. Daniel Okeoghene Oniko.
The family has scheduled a celebration of life for the late Okeoghene Oniko in coming weeks, and Mr. Odoviano Oniko is expected to play a key part in those ceremonies, paying respect to his fallen cousin.
Despite the initial mix-up, relatives say the Oniko family remains united. They are using the occasion to educate the public about each family member’s unique legacy.
“We lost one Daniel, but not the other,” a family elder told reporters, “and we thank God for the life of Odoviano.”
Media Responsibility and Conclusion
This incident comes as a cautionary tale for media practitioners and social media enthusiasts. Before Mr. Oniko personally quashed the rumour, the erroneous report had been copied across blogs. It was even tweeted by a few notable personalities. This illustrates how quickly unverified information can gain traction.
Analysts advocate for stricter adherence to journalistic ethics, especially in an era where clickbait culture often trumps accuracy.
Atlantic Post reiterates its commitment to fact-checking: The originators of the story should have taken a moment to verify with family. Checking recent public records would also help. They would have found the narrative implausible.
It is noteworthy that some respected outlets did not publish the death news. This includes major Nigerian newspapers. They refrained precisely due to lack of confirmation.
The Atlantic Post urges readers and newsmakers alike to “trust, but verify”. Trust your sources. Verify the details before disseminating.
In the end, the truth prevailed: Daniel Odoviano Oniko is alive, and his legacy in Nigeria’s finance sector continues to grow. This close call with a death hoax has reinforced the importance of his work. It has perhaps added a new facet to it.
“If anything,” Oniko mused with a slight smile, “reading my own obituary has made me even more determined to make an impact. I’ve seen what people might say about me; now I want to earn those kind words many years from now, in a far future.”
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