Nigerian billionaire Femi Otedola locks horns with Zenith Bank over alleged debt fraud
Otedola, who ranks among Africa’s billionaires, accuses Zenith Bank of perpetrating banking fraud.
West & Central Africa
Africa’s richest man Aliko Dangote’s refinery seeks dual listing in Nigeria, London
The choice to pursue a dual listing on both exchanges reflects considerations arising from the NGX’s current limitations in accommodating the scale of the refinery.
U.S.-Nigerian telecom mogul Sam Darwish’s stake in IHS rises by $2.8 million
This follows a $9.63 million loss he recorded between May 7 and 16, when his holding fell from $55.13 million to $45.50 million.
Bank led by Nigerian billionaire Femi Otedola partners with French financier on climate initiative
This collaboration aims to establish FBN Holdings as a frontrunner in African climate finance.
Nigerian billionaire Femi Otedola’s FBN Holdings posts $149.7 million profit in Q1 2024
Femi Otedola’s leadership continues to be a driving force behind the group’s sustained growth and expansion, with high expectations for the remainder of the fiscal year.
Bank with Kenya’s wealthiest backing launches trustee services to enhance investment options
This move allows NCBA to enter the trustee services market, providing clients with more investment options and reinforcing its commitment to comprehensive financial services.
Exclusive: Nigerian president initiates highway project by controversial billionaire tied to Sani Abacha – What you need to know!
With the construction of this highway, Nigeria is poised to unlock vast economic potential, foster unity, and build a legacy of prosperity for future generations.
Lagos-based Greek businessman gains $14.4 million from Flour Mills stake
The increase in the market value of John Coumantaros’ stake reaffirms his position as a leading investor on the Nigerian Exchange
Asia’s richest man Mukesh Ambani eyes African telecom market with Ghanaian 5G venture
NGIC’s approach appears to mirror the success of Mukesh Ambani’s Jio Infocomm Ltd. in India. Jio is currently India’s largest mobile operator with 470 million users
Nigerian industrialist Samuel Adedoyin donates ICT building to Lagos State University
Explaining his motivation for the generous donation, Adedoyin expressed his desire to give back to society in gratitude for the divine blessings he has received throughout his life.
Cameroonian-American NBA superstar Joel Embiid earns $57.7 million in past year
The 29-year-old’s significant earnings stem from a lucrative NBA contract. He secured his future with the Philadelphia 76ers with a five-year, $178 million deal (including incentives)
Nigerian tycoon Tony Elumelu to reinvest $4-million dividend in UBA rights issue
“I’m advising shareholders, as you get your dividends, reinvest a significant part of it,” Tony Elumelu said.
Senegalese superstar Sadio Mane rakes in $52 million in past year
This hefty sum comes after his move to Saudi Pro League club Al Nassr, joining Cristiano Ronaldo in the lucrative league.
Nigerian businessman Tony Elumelu’s UBA distributes $53.4-million dividend to shareholders
During the AGM, the board presented UBA Group’s outstanding financial performance for 2023, which saw the bank become Nigeria’s second-largest lender by assets.
Nigerian energy tycoon Austin Avuru’s Seplat extends $1.28-billion ExxonMobil acquisition deal
Investor confidence remains shaky due to ongoing legal and regulatory issues.
Nigerian gambling magnate Kessington Adebutu loses $2.8 million on Wema Bank shares
This comes after a surge in the market value of his stake in Wema Bank between May 1 and 7, when it increased by N6.01 billion ($4.35 million)