U.S.-Nigerian telecom tycoon Sam Darwish says there is room for further acquisitions in Latin America
His Lagos-based telecom company reported a profit of $16.9 million in the first quarter of 2022.
Nigerian businessman
Nigerian gaming tycoon Kunle Soname ventures into aviation
Soname is a Nigerian gaming tycoon and chairman of Bet9ja.
Nigeria rejects proposed acquisition of ExxonMobil assets by Bryant Orjiako’s Seplat Energy
The government cited overriding national interests as one reason for rejecting the $1.58-billion deal.
Sam Darwish’s IHS Towers posts $16.9-million in profit in Q1 2022
IHS Towers is a Nigeria-based telecom infrastructure firm.
Jumia shares surge 14.8 percent following speculation of takeover by Nigerian tech tycoon Leo Stan Ekeh
Ekeh’s takeover of Jumia would likely make Zinox the largest e-commerce owner in Africa.
Nigerian logistics tycoon Taiwo Afolabi becomes chairman of Sifax Group
After working for Nigerian Express Agencies Limited in the 1980s, Afolabi founded SIFAX Group in 1988.
Abdul Samad Rabiu’s BUA Foods acquires shipping vessels to drive West African sugar exports
The new vessel will depart and berth at BUA’s port and terminal.
Nigerian tycoon Oba Otudeko pockets $53 million from Flour Mills-Honeywell deal
Otudeko owns 66.8 percent of Honeywell Flour Mills.
Herbert Wigwe’s Access Holdings posts $138.2 million in profit in Q1 2022
Access Holdings ranks as one of the most capitalized financial services institutions on the Nigerian Exchange.
Nigerian banking tycoon Jim Ovia’s Zenith Bank posts $140.1 million in profit in Q1 2022
Ovia owns a significant 16.2-percent stake in the company.
Nigerian tycoon banker Herbert Wigwe gains over $1.2 million in seven days
Four weeks ago, the bank completed its transformation from Access Bank Plc to Access Holdings Plc.
Nigerian billionaire Mike Adenuga gains $5.2 million from stake in oil company
Conoil is a Nigerian petroleum marketing company led by Adenuga, who owns 74.4 percent of the company.
Nigerian tycoon Obafoluke Otudeko gains $6 million in 17 days from flour-milling business, Honeywell
The recent increase in Otudeko’s stake can be attributed to a 13.9-percent increase in the company’s stock price.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods posts $167.8 million in profit in 2021
The increase in the group’s profit can be attributed to a significant increase in the sales of its products.
MTN Nigeria, led by Karl Toriola, receives approval to launch payment service bank
The approval comes five months after MTN Nigeria received preliminary approval from the Central Bank of Nigeria.
Nigerian telecom mogul Bashir Ahmad El-Rufai controls $11-million stake in IHS Towers
The businessman played a key role in the deregulation of the country’s telecom industry in the early 2000s.