Showing posts with label Mike Adenuga. Show all posts
Showing posts with label Mike Adenuga. Show all posts

Wednesday, July 12, 2023

The Game of Thrones at First Bank Nigeria

 By Ijeoma Nwogwugwu

Billionaire businessman, Femi Otedola, must be excreting bricks. In recent weeks, the often-ebullient businessman has told anyone who cares to listen that he is about to emerge Chairman of FBN Holdings Plc (FBN Holdco) – one of Africa’s largest diversified financial services groups and parent of First Bank of Nigeria Limited, the country’s oldest lender. Otedola, from all indications, was recently nominated a Non-executive Director of FBN Holdco, subject to the approval of the Central Bank of Nigeria (CBN), as is always the case with all financial institutions regulated by the banking system regulator.

His hope was that after his nomination is approved by the CBN, at the next annual general meeting of FBN Holdco slated for August 15, 2023, other shareholders/directors of the group will elect him chairman. It remains uncertain how Otedola intends to be elected chairman, given that the current holdco chairman, Adamu Abdullahi, is an appointee of the central bank, albeit on an interim basis. 

Friday, December 8, 2017

How Rich Are The Super-Rich In Nigeria?

By Dan Amor
I think it was John Paul Getty, the American-born British billionaire, philanthropist and heir to oil industry fortune, who quipped, when asked how rich he was: “No one is really rich if he can count his money.” In Getty's days, anyone with one million British pounds (or even one million dollars) was rated as “rich” and anyone with more than five million pounds was “very rich”.
*Adenuga and Dangote
Above that and you were in the “super rich” category, and when you got above the fifty million pounds level, you rated as a “can't count”. Nelson Bunker Hunt, who with his brother inherited a fortune even greater than Getty's, was a “can't count” man before he tried to corner the silver market. Asked by a Senate Committee how much he was worth, he snapped, “Hell, if I knew that, I wouldn't be worth very much”.