Wale Tinubu’s Oando kicks off 2025 with $601.5 million in first-quarter revenue
Oando kicks off 2025 with a 90.51% profit surge to $70 million, powered by finance income, tax gains, and strong E&P performance.
West & Central Africa
Nigerian tycoon TY Danjuma’s IMG gets backing for $4.2 million rights issue
TY Danjuma’s IMG wins shareholder support for $4.2 million rights issue after revenue surge; expands investments in power, gas, and agribusiness sectors.
Adaora Umeoji acquires $2.1 million in additional Zenith Bank shares
Zenith Bank CEO Adaora Umeoji deepens her stake with a $2.1 million share buy, affirming long-term faith in the bank’s growth and profitability.
Otedola's FirstHoldCo pumps nearly $10 million into cybersecurity defenses
The bold move underscores the group’s commitment to safeguarding customer assets amid rising cyberattacks targeting financial institutions across Nigeria.
Burkinabe tycoon Idrissa Nassa’s Coris Bank launches operation in Central Africa
The new subsidiary, Coris Bank International Chad, takes over from Société Générale Chad following the completion of its acquisition on Feb. 31, 2024.
Zenith Bank, led by Adaora Umeoji, plans forbearance exit in first half of 2025
The lender disclosed this in a statement filed on the NGX on Wednesday, reaffirming its commitment to meeting all supervisory requirements.
Africa’s richest man Aliko Dangote to export Nigeria’s first gasoline cargo to Asia
A 90,000-metric-ton cargo of gasoline is scheduled to leave the refinery for Asia, marking the first time fuel from the Lagos-based facility will be sold outside the region.
150 Nigerian workers sacked after protest at firm owned by billionaire with political ties
The layoffs followed a protest at one of the company’s construction sites in Lagos, where workers stopped work and marched to demand better conditions.
Access Holdings, led by Aigboje Aig-Imoukhuede, takes over Gambian bank
Access Holdings, led by Aigboje Aig-Imoukhuede, has acquired Standard Chartered Bank Gambia, ending the British bank’s 130-year presence in the country.
Aliko Dangote's refinery to begin nationwide fuel distribution in August
It is ready to deploy 4,000 new Compressed Natural Gas (CNG)-powered tankers to enhance last-mile delivery and fuel accessibility across Nigeria.
Indimi sons back father in explosive $435 million oil battle with sisters
Indimi family feud escalates as sons side with father in $435 million Oriental Energy oil dividend dispute against sisters Ameena and Zara.
British-Nigerian entrepreneur Ladi Delano's Moove eyes unicorn status
The fresh capital comes on the heels of Moove’s $100 million raise in 2024 at a $750 million valuation.
Aliko Dangote's Dangote Cement, Tetracore increase focus on clean energy solutions
As part of the latest phase, Tetracore installed a mobile AutoGas refueling unit at Dangote Cement’s Ibese Plant in Ogun State.
Nigerian billionaire Femi Otedola pursues bigger stake in First Bank’s parent company
Sources familiar with the matter say both Otudeko and Odukale, have agreed to sell their shares to Otedola at N31 ($0.02) apiece.
Aliko Dangote plans to list Africa’s largest fertilizer plant this year
When asked about the possible listings of his refinery or other Dangote Group businesses, Dangote said, “Yes, definitely."
Power meeting in Accra: Mike Adenuga holds talks with President Mahama
While details of their conversation were kept private, aides on both sides confirmed the visit, with Adenuga returning to Lagos that same evening.