EFCC transfers $60 million recovered from Ernest Azudialu-Obiejesi's Nestoil to lenders
Nestoil has paid $60 million to its lenders under an EFCC-brokered plan, ten weeks after the Supreme Court dissolved its asset freeze.
Dorcas Adeodun
News Reporter
Dorcas Adeodun is a journalist covering finance, public policy, and economic development. She has more than five years of reporting experience and has worked across business reporting and institutional analysis.
Zimbabwean tycoon Billy Rautenbach may bid for the safari camp his rival was forced to leave
ZimParks will tender Chewore Lodge after courts voided Terry Kelly's lease. Billy Rautenbach's Big Five Safaris can bid for it.
Australian mining billionaire Gina Rinehart's biggest US bet is now Elon Musk's SpaceX
Gina Rinehart bought 8 million SpaceX shares worth $1.37 billion in the second quarter, making it her largest US-traded holding.
Indian billionaire Mukesh Ambani's Reliance will build fighter jet engines with Rolls-Royce
Reliance Industries, controlled by billionaire Mukesh Ambani, will partner Rolls-Royce on engines for India's fifth-generation fighter jet.
Elon Musk's SpaceX turns Alphabet's $900 million investment into $94 billion, a 100-fold return in 10 years
Alphabet's $900 million bet on SpaceX in 2015 has grown more than 100-fold to $94 billion, making Google's parent the largest single institutional holder of Elon Musk's rocket company.
South African billionaire Christo Wiese says the infamous Stellenbosch Mafia controls nothing
Christo Wiese told a conference that members of the so-called Stellenbosch Mafia may be mafiosi but control nothing in South Africa.
South African billionaire Patrice Motsepe says only an election can remove FIFA's Infantino
CAF president Patrice Motsepe says FIFA's 211 members should decide Gianni Infantino's future at the ballot box, not his critics.
Lavish $20 million wedding of son of sanctioned Zimbabwe tycoon Kudakwashe Tagwirei lays bare elite state capture
Kudakwashe Tagwirei gifted his son $17.5 million in cash and prime land at a $20 million wedding attended by Zimbabwe's president, exposing the architecture of elite wealth accumulation in one of Africa's most impoverished economies.
Fidson founder Fidelis Ayebae targets Sub-Saharan Africa's biggest drug factory after record N119 billion revenue
Fidson Healthcare founder Fidelis Ayebae says ongoing expansion will make the company Sub-Saharan Africa's largest pharmaceutical manufacturer after a record N119 billion revenue year.
Coleman boss George Onafowokan says manufacturing is the missing link in Nigeria's $1 trillion economy push
Coleman Technical Industries managing director George Onafowokan says Nigeria's $1 trillion economy target by 2030 is achievable but hinges entirely on manufacturing, affordable power and patient capital.
Madagascar billionaire Hassanein Hiridjee joins IFC in Jumia's $50 million capital raise
Hassanein Hiridjee's Axian has backed Jumia's $50 million raise alongside the World Bank's IFC, as the e-commerce group narrows its losses.
AfDB-backed Africa50 raises $50M from Italy and France for green infrastructure fund targeting $10B
AfDB-backed Africa50 has secured $50 million from two European development finance institutions for a fund targeting $400 million to unlock $10 billion in green infrastructure investment across Africa.
Ibrahim Mahama's Damang mine employs 400 locals in four months as airstrip and roads take shape
Ibrahim Mahama's Damang Gold Mine has employed nearly 400 locals in its first four months of operation, with an airstrip, road corridor and sports facilities already taking shape in surrounding communities.
Rihanna's Fenty Beauty opens first Australian concept store inside Myer Melbourne
Rihanna's Fenty Beauty has opened its first Australian concept store inside Myer Melbourne, marking the brand's fourth concept store globally and its deepest retail push yet into the Australian market.
South African billionaire Christo Wiese blames Pick n Pay's decline on its dividends
Christo Wiese says Pick n Pay's habit of paying out cash rather than reinvesting left it unable to keep pace with Shoprite.
Nigerian tycoon Maher Jarmakani's Lagos port lands $1 billion from the world's biggest shipping line
Maher Jarmakani's Nigerdock has signed the world's biggest shipping line to a 45-year terminal deal at Snake Island Port in Lagos.