Central Bank of Nigeria dissolves First Bank board, expels Oba Otudeko
The Central Bank of Nigeria has dissolved the board of First Bank, citing insider abuse.
West & Central Africa
Obi Emetarom’s pan-African fintech platform secures Series A funding
Appzone has announced the close of a $10-million round.
Nigeria’s First Bank fires CEO without regulatory approval
The Central Bank of Nigeria has queried First Bank over its abrupt removal of CEO Adesola Adeduntan.
Burkinabe tycoon Inoussa Kanazoe aims to contend with Aliko Dangote for Togo’s cement market
Burkinabe tycoon Inoussa Kanazoe is hoping to win over a large share of Togo’s cement market.
Nigerian Senate looks to promote cement market competition
The Nigerian Senate has called for liberalizing cement policy to boost production and reduce market prices.
Tony Elumelu’s Transcorp injects $120 million into hotel rehabilitation
After 30 years as Nigeria’s leading hospitality outfit, Transcorp Hotels is injecting more than $120 million into rehabilitating its five-star hotels.
Multimillionaire gambling mogul Kessington Adebutu adopts Nigeria’s national stadium in Lagos
Nigerian gambling mogul Kessington Adebutu has taken on the rehabilitation of Nigeria’s national stadium in Lagos.
Arsenal fans clamor for Aliko Dangote to become club’s new owner
Arsenal FC fans are calling for a new owner after Stan Kroenke’s decision to join the breakaway European Super League.
Abdul Samad Rabiu donates $2.6 million to University of Ibadan
A newly founded philanthropy established by Africa’s sixth richest man has donated $2.62 million to the University of Ibadan.
Property tycoon Tayo Amusan’s Persianas to acquire Shoprite Nigeria
Tayo Amusa’s Persianas Property Ltd. is buying Shoprite Nigeria as the South African retailer retreats from other African markets.
Abdul Samad Rabiu Africa Initiative appoints Ubon Udoh as managing director and CEO
The ASRi has announced the appointment of Ubon Udoh as its managing director and CEO.
Ernest Sampong’s pharmaceutical company launches herbal cough syrup
Ghanian pharmaceutical giant owner Ernest Bediako Sampong has introduced a new herbal cough remedy to the domestic market.
Nigerian-Lebanese billionaire Gilbert Chagoury reaches deferred prosecution agreement with DoJ, pays $1.8-million fine
Lebanese-Nigerian tycoon Gilbert Chagoury recently entered a deferred prosecution agreement with the U.S. Department of Justice.
UK court bars Nigerian media mogul Nduka Obaigbena from serving as Arise TV director
The judgment came on April 8 following the company’s compulsory liquidation.
Aliko Dangote, John Coumantaros demand Nigeria shut down fellow billionaire’s sugar refinery
A legal action has been launched against Abdul Samad Rabiu.
Abdul Samad Rabiu to take home sizeable $169 million dividend from BUA Cement
The billionaire mogul will earn a $169.4 million dividend from his stake in BUA Cement Plc.