Sulaiman Adebola Adegunwa’s Rite Foods slams $1 million lawsuit on rival
Rite Foods sues Mamuda Beverages for $1 million, accusing the company of copying its Fearless Energy Drinks’ design and infringing on its trademark.
West & Central Africa
15 companies owned by Nigerian energy tycoon ABC Orjiako
ABC Orjiako built a vast empire spanning oil, logistics, and healthcare, despite legal battles tied to his exit from Seplat Energy.
Adaora Umeoji leads Zenith Bank to $194.4 million profit in Q1 2025
Adaora Umeoji led Zenith Bank to a $194 million first-quarter profit in 2025, reinforcing its position as Nigeria’s most profitable lender.
Elon Musk’s Starlink wins Congo license after earlier ban
Congo lifts ban on Elon Musk’s Starlink, clearing the way for satellite internet in underserved regions amid efforts to expand access across Africa.
Aliko Dangote reaffirms $30 billion revenue target amid U.S. tariff
Aliko Dangote reaffirms his $30 billion revenue target by 2026, undeterred by shifting U.S. tariffs and global trade tensions under Donald Trump.
Abdul Samad Rabiu signs deal to boost Nigeria's food security
Abdul Samad Rabiu's BUA Group has partnered with Turkish firm Agrimac Makina Limited to install wheat handling equipment with a 2 million metric tonne annual capacity.
Fidson stake held by Nigerian tycoon Fidelis Ayebae tops $10 million
Since the start of the year, his stake has risen by N4.94 billion ($3.08 million), thanks to a steady rally in Fidson’s share price.
Aig-Imoukhuede leads Access Holdings to $113 million profit in Q1 2025
The group's diverse structure has found fresh momentum under the leadership of Aig-Imoukhuede, who returned to the helm after the passing of Herbert Wigwe.
Aliko Dangote's sugar empire posts $133 million revenue in Q1 2025
The strong performance expands its lead as Nigeria’s top food conglomerate.
Karl Toriola-led MTN Nigeria posts $658 million revenue in Q1 2025
The surge in revenue was fueled by robust demand across voice, data, fintech, and digital services, with particularly strong performance in its data and voice segments.
Before the billions, Aliko Dangote was Nigeria’s rising trading magnate
Before Aliko Dangote became Africa’s richest man, he quietly built a trading empire in Nigeria, mastering supply chains and laying his industrial legacy.
Zenith Bank pays Jim Ovia $12.7 million in dividends
Jim Ovia takes home $12.7 million in dividends as Zenith Bank delivers record profits and boosts shareholder payouts.
Nigeria’s central bank fines Paystack, co-founded by Shola Akinlade
CBN fines Paystack N250 million ($0.19 million) for allegedly running a wallet service via its Zap app, breaching its switching and processing license.
15 companies owned by Nigerian tycoon Emeka Offor
Emeka Offor's empire spans key sectors like oil, gas, power, logistics, and media, driving Nigeria’s economic development and creating lasting industry impact.
Jim Ovia’s stake in Zenith Bank rebounds above $150 million
Recent stock gains have boosted Ovia’s stake by $12 million, raising its value from $139.59 million to $151.48 million.
Africa’s richest man Aliko Dangote’s jet could fetch up to $78 million
The 2020 Bombardier Global 7500 stands as the epitome of modern business aviation, known for its outstanding range, sleek design, and unrivaled comfort.