Tony Elumelu’s UBA stake falls below $60 million
Elumelu faced a similar setback in 2024 when UBA’s 32.55% stock gain was erased by naira devaluation, cutting his stake’s value $17 million.
Nigerian businessman
Nigerian businessman Oba Otudeko summoned to court over $24 million fraud
The case adds to his growing legal troubles, marking another chapter in the challenges facing the former FBN Holdings chairman and founder of Honeywell Group.
Why Tony Elumelu isn't a dollar billionaire yet
Reports have speculated that his net worth stands at $2.15 billion, but Forbes remains the recognized authority in wealth rankings—anything else is just speculation.
NNPC acquires stake in $7 million CNG Plant owned by Nigerian businessman Greg Ogbeifun
NNPC acquires a 15% stake in Starzs Gas’ $7 million CNG plant, strengthening Nigeria’s clean energy drive, domestic gas expansion, and industrial development.
Aradel, led by Nigerian businessman Ladi Jadesimi, reports $160 million profit in 2024
This milestone secured it a spot as one of Nigeria’s most profitable companies, showcasing a dramatic 361.1 percent increase in profitability compared to the prior year.
Aradel Holdings acquires 5.14-percent equity stake in Chappal Energies to strengthen its position in Nigeria’s energy sector
Aradel Holdings strengthens its energy sector footprint with a 5.14 percent stake in Chappal Energies, gaining access to Nigeria's key oil assets and driving future growth in the industry.
Aradel Holdings sees $517-million market cap drop amid investor sell-off
The selloff coincides with Nigeria’s decision to reject Shell’s plan to offload its onshore oil assets to a consortium that includes Aradel, alongside ND Western and Waltersmith.
Aradel Holdings lists on NGX, hits $1.9-billion market cap
This listing expands investment opportunities for Nigerians, aligning with Aradel’s mission of enabling broader participation in the oil and gas sector.
Nigerian tycoon Tony Elumelu's UBA posts $189.6-million profit in H1 2024
The double-digit decline in profits can be attributed to UBA’s higher expenses, coupled with a drop in trading and foreign exchange gains.
Nigerian businessman Tony Elumelu's UBA targets $20-trillion revenue in 25 years
The goal, announced by UBA Group Managing Director and CEO Oliver Alawuba, underscores the bank’s vision to become one of the world’s top 10 banks over the next 25 years.
Nigerian businessman Ladi Jadesimi’s Aradel to acquire NNPC, TotalEnergies oil fields
The acquisition marks a significant expansion for the integrated energy group.
