Nigeria’s richest banker Jim Ovia’s Zenith Bank posts profit exceeding $500 million
This was driven by a combination of surging interest income and substantial gains from foreign exchange portfolio revaluations.
Nigerian businessman
Nigeria’s richest banker Jim Ovia gains $41 million from Zenith Bank stake
Ovia, ranked among Africa’s affluent individuals, has seen an impressive increase in the market value of his stake in Zenith Bank.
Nigerian banker Jim Ovia’s Zenith Bank partners with Mastercard to boost financial inclusion in Nigeria
The partnership marks a milestone for Mastercard, as it introduces its first domestic card in Africa and debuts the World Elite Credit Card in West Africa.
Nigerian businessman Tony Elumelu’s UBA stake nears $50 million
As his stake in UBA approaches $50 million, Elumelu’s influence and commitment to Africa’s economic prosperity remain undeniable.
Nigerian businessman Tony Elumelu awards $5-million seed capital to 1,000 African entrepreneurs
Each recipient is set to receive a $5,000 non-refundable seed capital to kickstart their entrepreneurial endeavors.
Dangote’s half-brother Sayyu Dantata eyes sale of lavish Banana Island mansion
The leading businessman known for his affinity for luxury and lavish assets, is reportedly contemplating a return to his hometown of Kano State.
Tony Elumelu advocates privatization of Nigeria’s electricity transmission lines
Elumelu urged the government to facilitate the transfer of idle gas assets or fields to capable Nigerian investors, fostering gas-related investments and efficient electricity production.
Nigerian gas tycoon Julius Rone advocates for foreign investment to drive African energy
A central figure in Nigeria’s energy sector, Rone outlined his vision for leveraging international partnerships to tap into the vast untapped natural gas reserves across the continent.
Companies owned by Nigerian multimillionaire businessman Tony Elumelu
Beyond his ventures, Elumelu champions entrepreneurship. The Tony Elumelu Foundation empowers African entrepreneurs through seed capital, training, and mentorship.
Dangote’s half-brother Sayyu Dantata’s oil firm exceeds $190 million in revenue in 2023
Similarly, the company’s profit saw a substantial increase of over 270 percent from $1.37 million $5.14 million, indicating improved operational efficiency and cost-effectiveness.
Nigeria’s richest banker Jim Ovia gains nearly $30 million from Zenith Bank stake
Ovia owns a 16.2-percent stake in the financial services group, comprising 5,072,104,311 ordinary shares, makes him the wealthiest banker in the country.
Tony Elumelu becomes third Nigerian businessman to hold stakes in two trillion-naira companies
This achievement, following in the footsteps of Femi Otedola and Abdul Samad Rabiu, highlights the growing influence of Nigerian business leaders.
Nigerian businessman Tony Elumelu gains $14 million from UBA stake
Tony Elumelu, with his 7.39-percent stake in UBA, equivalent to 2,527,372,285 shares, stands out as one of the Nigerian Exchange’s most affluent investors
Nigerian businessman Dozy Mmobuosi faces 45-year sentence in US
If convicted on all charges, Mmobuosi risks serving a maximum sentence of 45 years.
Nigerian businessman Dozy Mmobuosi charged by SEC in alleged massive fraud
The SEC accused him of inflating figures and and engaging in billions of dollars’ of fictitious transactions.
Arrest warrant issued for Nigerian tycoon Cletus Ibeto in $6.1-million fraud case
The issuance of a bench warrant signals a significant turn in the legal proceedings against Ibeto, adding a layer of complexity to the $6.1-million fraud case.