United Bank for Africa did not fund OML-17 acquisition: Nigerian mogul Tony Elumelu
The businessman and philanthropist addressed the subject during an interview with Arise TV.
West & Central Africa
Controversy over First Bank of Nigeria’s clash with regulator stirs bank run
A bank run has started at First Bank of Nigeria after a recent scandal concerning its board of directors and the Central Bank.
Honeywell Group releases statement on recent First Bank loan controversy
The Central Bank has dissolved the defunct board of First Bank of Nigeria, expelling Honeywell Group founder Obafoluke Otudeko and Ibukun Awosika as chairpersons.
Nigerian authority clears Abdulmunaf Yunusa Sarina’s Azman Air to resume business
The Nigerian Civil Aviation Authority has given the thumbs-up to the airline after a series of incidents.
Ghanian multimillionaire Joseph Siaw Agyepong unveils sanitation fund
The fund will provide grants to public universities for environmental sanitation research in Ghana.
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.
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.