Nigerian billionaire Jim Ovia’s Zenith Bank stake loses $65.5 million in October
Jim Ovia’s Zenith Bank stake lost about $65.5 million in October as the lender’s shares fell 11.2% in a broad Nigerian banking selloff.
Nigerian billionaire
Africa's richest man taps Botswana to sell $500 million of refinery shares
Africa's richest man is using Botswana's stock exchange and Access Bank Botswana to bring Southern African investors into his record refinery share sale.
Billionaire Aliko Dangote gained $2.3 billion in 3rd quarter, excluding refinery revaluation
A 19.7% rally in Dangote Cement lifted Aliko Dangote's listed stakes by $2.31 billion in the third quarter, separate from Forbes' refinery revaluation.
Nigerian billionaire Femi Otedola gains $138 million on Friday as FirstHoldCo shares hit record high
First HoldCo rose 10% to N162.80 on Friday morning, a record, adding about N182.6 billion to Femi Otedola's stake in a single session.
Billionaire Femi Otedola spends another $14.9 million on First HoldCo as stake hits 27.5%
Femi Otedola bought 147.7 million First HoldCo shares at N140, lifting his stake to about 27.5% and his holding past 12.2 billion shares.
Africa's richest man will break ground on a $16 billion Kenyan refinery by October
Aliko Dangote says groundbreaking on the 700,000 barrel-a-day Lamu refinery will take place by October, at a cost revised down to about $16 billion.
Nigerian billionaire Femi Otedola signals he wants 51% of First HoldCo after investing $432 million
Femi Otedola says his investment threshold is always above 51% and that he is on the same trajectory at First HoldCo, where he now holds 25.8%.
Nigerian lottery magnate Kessington Adebutu's Wema and Vitafoam stakes exceed $300 million
Kessington Adebutu's Wema Bank stake is worth $291.27 million and his Vitafoam holding $21.08 million, built entirely on lottery money.
Nigerian billionaire Abdul Samad Rabiu's BUA Foods lifts half-year profit 12% to $210 million
BUA Foods lifted half-year profit 12.4% to ₦292.27 billion as gross margins widened sharply, taking Abdul Samad Rabiu's stake to $11.26 billion.
Tony Elumelu's Transcorp H1 profit falls 17% to $39 million as power revenue slides
Tony Elumelu's Transcorp posted a 16.6 percent drop in first-half profit to $39.4 million as gas shortages cut output at its power plants.
Nigerian billionaire Femi Otedola's First HoldCo stake tops $700 million as best-performing bank stock hits record
First HoldCo shares hit a record N105.50 on Monday, lifting Femi Otedola's stake past $700 million after a 120 percent rally this year.
Billionaire Femi Otedola's First HoldCo stake hits $641 million as shares hit record high
Femi Otedola's stake in First HoldCo climbed to about $641 million after the Nigerian bank's shares surged 9.97% to a record N95.95 on Friday.
Africa's 3rd richest man Abdul Samad Rabiu loses $1 billion as Nigerian stocks suffer their worst day of 2026
A brutal session on the Nigerian Exchange erased more than a billion dollars from the BUA Group founder's fortune, reshuffling Africa's wealth rankings overnight.
Cosmas Maduka dropped out at six and turned a 1977 N300 bet into a $500 million fortune
Cosmas Maduka dropped out of school at six, was dismissed with N200 by his uncle and built a $500 million empire from a single spare parts stall.
Billionaire Femi Otedola buys 680 million more FirstHoldCo shares and tightens his grip with a 20.42 percent stake
Femi Otedola has acquired approximately 680 million FirstHoldCo shares through its recently completed N45 billion private placement, lifting his total stake to 20.42 percent.
Nigerian billionaire Mike Adenuga's Conoil proposes N2 dividend per share after profits fell 75% in 2025
Mike Adenuga's Conoil Plc has proposed a N2 per share dividend for 2025, down 43% from N3.50 in 2024, after profits fell 75% year-on-year.