Nigerian tycoon Orji Uzor Kalu and family hold $20 million of US property, report says
A new report says 61 Nigerian officials hold 284 US properties worth $271 million, including more than $20 million linked to Orji Uzor Kalu.
Nigeria
Nigerian billionaires Dangote and Rabiu face a Chinese-owned rival as cement prices double
HBM Nigeria, formerly Lafarge Africa and now owned by China's Huaxin, wants distributors with N250 million each as cement tops N12,500 a bag.
French billionaire Vincent Bolloré promises President Tinubu more investment in Nigeria
Vincent Bolloré told Bola Tinubu his group will deepen its Nigerian operations, in a market where DStv and GOtv have been shedding customers.
Africa's richest man says fuel import licences are squeezing his Nigerian refinery
Dangote Refinery says imported petrol took 43% of Nigeria's market in July and that licences are still being issued despite ample local capacity.
Aliko Dangote is $5 billion richer since the Iran war closed the Strait of Hormuz
Aliko Dangote's Lagos refinery has become Europe's largest supplier of jet fuel and diesel since Iran closed the Strait of Hormuz.
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.
Late Nigerian banker Herbert Wigwe's university has a fifth of the students he planned
Herbert Wigwe planned 1,400 students in his university's first year. As tributes marked his 60th birthday, it has about 300.
Late Nigerian billionaire Bode Akindele's estate placed under state control in will dispute
A Lagos court has placed Bode Akindele's estate under the state Administrator-General while his first son challenges the validity of the will.
Nigerian billionaire Muhammadu Indimi joins court fight against his twin daughters over $43.5 million
Muhammadu Indimi has applied to be joined personally in the appeal against a $43.51 million judgment his twin daughters won from Oriental Energy.
Nigerian tycoon Samuel Bolarinde's Vitafoam stake hits $25.3 million after 747% share surge
Samuel Bolarinde's 12.03% stake in Vitafoam Nigeria is worth ₦35.16 billion, or $25.3 million, after a 747% share price surge since 2025.
Billionaire Femi Otedola's First HoldCo to pay out 60% of profit as dividends
First HoldCo will pay out at least 60% of profit as dividends, a policy worth roughly ₦83 billion to chairman Femi Otedola on half-year earnings.
Africa's richest man Aliko Dangote turns to exports as Nigeria's petrol imports triple
Nigeria's gasoline imports tripled in June as Aliko Dangote's refinery cut domestic supply to sell abroad and earn the dollars it needs to buy crude.
Nigerian tycoon Rasheed Sarumi's Presco stake hits $1 billion after Belgian buyout
Rasheed Sarumi's Presco stake is worth $1.03 billion after buying SIAT from a Belgian family in court restructuring, but his debt position is unknown.
Africa's richest man Aliko Dangote's refinery runs at half capacity as exports fall
Aliko Dangote's refinery is operating at roughly half throughput after an equipment fault, pushing product exports to their lowest level in three months.
Billionaire Folorunso Alakija unveils six books at Lagos thanksgiving marking her 75th birthday
Nigerian oil magnate Folorunso Alakija unveiled six books on marriage and faith at a thanksgiving service marking her 75th birthday in Lagos.
Nigerian multimillionaire tycoon Cosmas Maduka, Asia Star deepen electric bus partnership
Cosmas Maduka is positioning Coscharis Group at the center of Nigeria's electric mobility push, deepening his partnership with Chinese bus manufacturer Asia Star.