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.
Nigerian billionaires
Nigerian billionaire Mike Adenuga's Conoil lifts half-year profit 472% as margins widen
Conoil lifted half-year profit 472% to ₦5.15 billion, yet paid ₦8.29 billion in finance costs, more than the company earned before tax.
Nigerian billionaire Victor Odili to pocket $19.9 million MTN interim dividend
Victor Odili's 5.08% stake in MTN Nigeria will earn ₦27.69 billion from the ₦26 interim dividend, on a holding now worth about $657 million.
Billionaire Femi Otedola spends $160 million again on First HoldCo shares, lifting stake to $1.07 billion
Femi Otedola has spent another $160 million, on 1.78 billion additional First HoldCo shares, lifting his stake to $1.08 billion.
Nigerian billionaire Rasheed Sarumi's Presco sees profit falls 20% to $23.8 million in second quarter
Presco's second-quarter profit fell 20% to ₦33 billion as revenue declined, with earnings per share dropping to ₦28 from ₦41 a year earlier.
Nigerian billionaire Aliko Dangote's cement sales rose 22% last quarter, profit just 4%
Dangote Cement lifted half-year profit 24% to ₦640.2 billion, but second-quarter profit growth slowed to 4.4% even as revenue rose 22.2%.
Nigerian billionaire Aliko Dangote pitches Cameroon fuel terminal to reach landlocked Central Africa
Nigerian billionaire Aliko Dangote has proposed a fuel storage terminal in Cameroon to serve landlocked Chad and Central African Republic.
France looks to Nigerian billionaire Mike Adenuga to fund its Abuja cultural institute
France is in talks with Nigerian billionaire Mike Adenuga over funding a new Institut Français in Abuja, where Macron will lay the foundation stone.
Nigerian billionaire Femi Otedola's fortune has grown $400 million this year on a single bank stock
Femi Otedola is worth about $1.7 billion, up $400 million since March, with just over half of that now sitting in a single bank stock.
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.
Nigerian billionaire Femi Otedola spends $56 million on First HoldCo shares in his largest single purchase
Femi Otedola spent about $56 million on 706 million First HoldCo shares, his largest single purchase since taking the bank's chairmanship.
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.
Billionaire Abdul Samad Rabiu's BUA Foods embarks on largest expansion in company history
BUA Foods, controlled by billionaire Abdulsamad Rabiu, has begun the largest expansion in its history, entering the noodles market and scaling wheat milling capacity.
Nigerian anti-graft agency re-arraigns tycoon Tunde Ayeni a third time in $11.2 million fraud case
Nigeria's EFCC has re-arraigned former Skye Bank chairman Tunde Ayeni a third time on amended charges of diverting N15.6 billion. He pleaded not guilty.
Billionaire Emeka Okwuosa's Oilserv completes Nigeria's landmark AKK gas pipeline
Oilserv, owned by Nigerian billionaire Emeka Okwuosa, has completed construction of the 303-kilometre AKK gas pipeline, a centrepiece of Nigeria's Decade of Gas.
Billionaire Tunde Folawiyo's Aje oil field partner PetroNor moves to exit Nigeria
PetroNor has appointed Talanger to sell its stake in Nigeria's Aje oil field, unwinding its partnership with billionaire Tunde Folawiyo's Yinka Folawiyo Petroleum.