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CATEGORY

Wealth

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...

The Elumelu Effect: Seplat Stake Surges $222m in 45 Days as Heirs Energies Consolidates Power

The strategic acquisition of a 20.07% stake in Seplat Energy Plc by Heirs Energies—the integrated energy vehicle of billionaire Tony Elumelu—is already yielding massive...

Otedola Doubles Down as Billionaire Chairman Raises First HoldCo Stake to 18%

Femi Otedola, the billionaire Chairman of First HoldCo Plc, has significantly consolidated his control over Nigeria’s oldest financial institution (First Bank of Nigeria), raising...

Single Shareholder Takes ₦10bn Bet on GTCO’s Growth With Private Placement

Guaranty Trust Holding Company Plc (GTCO) has allotted a ₦10 billion private placement to a single, undisclosed institutional investor. Sources tell MoneyCentral the stake...

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