Nigeria’s First Bank appoints billionaire businessman Femi Otedola as non-executive director
The move cements Otedola’s position as a leading figure in Nigeria’s business landscape and underscores his influence in the country’s financial sector.
Nigeria
Segun Agbaje’s stake in Nigeria’s most valuable lender, GTCO, is worth $2 million
Agbaje, the group CEO of GTCO, holds a minority 0.14-percent stake in the company, amounting to a total of 41,628,001 shares.
5 assets owned by Nigerian-Lebanese billionaire Gilbert Chagoury
Gilbert holds a prominent position in Nigeria’s business landscape, and his philanthropic contributions have earned him respect and recognition.
Nigerian businessman Tony Elumelu gains nearly $4.3 million in single day from UBA stake
Elumelu holds a substantial 7.17-percent stake in UBA, equivalent to 2,450,603,739 ordinary shares with a market value of $47 million.
Startup led by Nigerian entrepreneur Adebowale Banjo raises $1.25 million in pre-seed funding
Since its inception, MyCover.ai, under Banjo’s leadership, has established itself as a trailblazer in innovative insurance solutions.
U.S.-Nigerian telecom tycoon Sam Darwish nets $40 million from IHS Holdings stake
Darwish holds a substantial 4.17 percent stake in IHS Holdings, amounting to 13,905,235 shares.
Bank linked to Nigerian billionaire Femi Otedola rakes in $240 million in profit in six months
Otedola holds the largest stake in the Lagos-based financial services holding group, with a 5.57-percent stake as of June 30, 2023.
5 companies owned by Africa’s fifth-richest billionaire Abdul Samad Rabiu
Boasting a net worth of $5.6 billion, Rabiu now ranks as the fifth-richest man in Africa.
Adidas claims Kanye West squandered $75 million intended for Yeezy collection marketing
Adidas claims that $75 million was transferred to two of Yeezy and West’s bank accounts, but both parties “mishandled virtually all of the marketing funds.”
Nigerian multi-award-winning artist Davido donates more than $300,000 to orphanages across Nigeria
While Davido’s philanthropic efforts are commendable, his music career continues to soar to new heights.
America’s second-richest Black man David Steward’s wealth soars above $6 billion
Steward’s fortune has skyrocketed by more than $1.1 billion recently, rising from $4.87 billion on May 9 to $6 billion.
Aliko Dangote reclaims title of richest investor on NGX, as Dangote Cement stake skyrockets to $6.6 billion
The surge in the shares of Dangote Cement, Africa’s largest cement company, was the driving force behind Dangote’s resurgence.
Nigerian tycoon Wole Oshin loses $1.2 million in one week from stake in Custodian Investment
As the company’s largest shareholder, Oshin holds a 26.81-percent stake in Custodian Investment.
SpaceX, led by world’s richest man Elon Musk, launches satellite Internet service in Kenya
Starlink officially launched in Africa in 2022, with Musk claiming that the satellite Internet service provider will operate anywhere on Earth where it is legally permitted.
Top Black CEO Marvin Ellison rakes in almost $7 million from Lowe’s shares
Ellison’s minority 0.038-percent stake in Lowe’s translates to a total of 224,800 shares.
Meet Calvin Butler, Jr., one of the newest Black executives leading America’s biggest companies
As corporate America embraces change and inclusivity, Calvin Butler, Jr. stands at the forefront, leading with purpose and vision.