A source close to the family confirmed to The PUNCH that Aluko died at the University College Hospital, Ibadan, Oyo State, on Friday morning.
The source also confirmed that Aluko had been with a cerebrovascular ailment, commonly known as stroke, for a number of years.
Aluko, who was a trained Geologist, hailed from Ilesha, Osun State, where he was also installed as a high chief in the community.
Earlier in March, the Court of Appeal upheld the forfeiture of his assets to the Federal Government which were relinquished over alleged corruption and money laundering.
An Abuja mansion valued at $18 million by the Economic and Financial Crimes Commission was among the assets seized.
He was the father of the Co-Chief Officer and an Executive Director of Atlantic Energy, Kola Aluko.
Chief Aluko would have turned 79 on July 22, 2022.
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