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CATEGORY

Wealth

Aradel General Counsel Omisore Dumps 5 Million Shares for ₦6.38 Billion After Stock Peak

In one of the largest single-day insider equity liquidations recorded on the Nigerian Exchange (NGX) this quarter, the long-serving Company Secretary and Group General...

Nigeria Faces Multi-Trillion Naira Wealth Cliff as Family Empires Confront Generational Handover

Nigeria has proven highly effective at generating first-generation private fortunes, but is systematically failing to preserve them, threatening to erase trillions of naira in...

Otedola Acquires 680 Million First Holdco Shares at N44.06 in Private Placement, Boosting Stake to 20.42%

Billionaire investor and Chairman of First HoldCo Plc, Femi Otedola, has acquired approximately 680 million shares in the company through its recently concluded private...

Premium Pensions Profit Jumps 73% to ₦6.1 Billion on Fee Growth

Premium Pensions Ltd., the country’s fourth-largest pension fund administrator, posted a 73% rise in full-year 2025 profit after tax to ₦6.14 billion, driven by...

BUA Chairman Rabiu Becomes Africa’s Second Richest Person with $19.1bn Net Worth

Abdul Samad Rabiu, the Chairman of BUA Group, has officially ascended to the position of Africa’s second-wealthiest individual as of May 7, 2026. According to...

Seplat’s 96% Dividend Hike Hands Elumelu $10.8M Q1 Payout as Stake Doubles to $1 Billion

Tony Elumelu and Heirs Holdings stand to pocket $10.83 million in first-quarter (Q1) dividends from Seplat Energy Plc, riding a share-price rally that doubled...

Sustainable Capital Trims Seplat Energy Stake to 6.18%

Sustainable Capital Ltd, a Mauritius-based investment firm, has substantially reduced its exposure to Seplat Energy PLC. According to a regulatory filing on April 3,...

Africa’s Billionaire Fortunes Hit $126.7bn as Dangote, Rabiu, Otedola Make 2026 Forbes List

The "Billionaire Club" in Africa has reached a historic milestone, with the combined net worth of its 23 members climbing to $126.7 billion—a 21%...

Heirs Holdings Nets ₦14.4bn Dividend From Seplat Stake to Anchor Returns

In a masterclass of "deep value" investing, Tony Elumelu, Chairman of Heirs Holdings, is set to reap a massive ₦14.37 billion ($10 million) dividend...

Rabiu’s Rise: BUA Chairman Fortune Hits $12.3bn as Foods, Cement Units Surge on NGX

BUA Group Founder and Chairman, Abdul Samad Rabiu’s net worth reached a record $12.3 billion, marking a staggering $2.3 billion gain in the first...

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