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Top 5 Most Richest Nigerians - Business (1) - Nairaland

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Top 5 Richest Nigerians According To Forbes / Folorunsho Alakija, Missing From Forbes List Of 21 Richest Nigerians / Top 10 Richest Nigerians (1) (2) (3) (4)

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Re: Top 5 Most Richest Nigerians by QuotaSyste(m): 10:04pm On Sep 12, 2008

Would have love to answer but am still trying hard to understand the question. Kindly break it down.
Break it down? Ok, here i go. I made refference to Adenuga running away to Ghana sometime ago because of EFCC which is common and undeniable knowledge in nigeria. You came back and said no, that he went to Ghana to invest. Then i asked you, how is someone running from the law and into refuge in Ghana equates to him going to Ghana to invest? Hope you get it now? Ok, answer the question.
Re: Top 5 Most Richest Nigerians by RibaduFan(m): 10:10pm On Sep 12, 2008
and on top of that start celebrating like some group use to do[quote][/quote]

Y do u always have to refer to my people in a derogatory manner.

Anyway, it is because of bigots like u that ethnicity and religion were not included in the last census.
Re: Top 5 Most Richest Nigerians by QuotaSyste(m): 10:16pm On Sep 12, 2008

and on top of that start celebrating like some group use to do

Y do u always have to refer to my people in a derogatory manner.

Anyway, it is because of bigots like u that ethnicity and religion were not included in the last census.
There is no derogatory any where in my comment. I am only calling a spade a spade. Read through the line and uderstand what i mean. You are not from Cameroun. Meanwhile, you didn't answer my question, The question is "Run and invest in the same equation"? Oya answer. Your excuse for excluding ethnicity and religion during census count is lame
Re: Top 5 Most Richest Nigerians by RibaduFan(m): 10:18pm On Sep 12, 2008
Do u know Glo was hjust launched in Ghana? How do think that happened?
Re: Top 5 Most Richest Nigerians by QuotaSyste(m): 10:21pm On Sep 12, 2008

Do u know Glo was hjust launched in Ghana? How do think that happened?
That does not answer my question. My question is "Running away from law and investment in the same equation"?
Re: Top 5 Most Richest Nigerians by BigB11(m): 11:36pm On Sep 12, 2008
"Running away from law and investment in the same equation

My man, you have a very good point, but why don't you go ahead and explain what "law" Mike was running away from?
Re: Top 5 Most Richest Nigerians by QuotaSyste(m): 11:43pm On Sep 12, 2008
Big B1:

My man, you have a very good point, but why don't you go ahead and explain what "law" Mike was running away from?
If he doesn't have any skeleton in his cupboard, he should have stayed back and face the EFCC. Why run to Ghana?
Re: Top 5 Most Richest Nigerians by Nigeria10: 11:45pm On Sep 12, 2008
I know this topic was started again by the EFCC to lock yoruba men up. una no dey stop, THE EFCC is a disgrace.
Re: Top 5 Most Richest Nigerians by BigB11(m): 11:46pm On Sep 12, 2008
If he doesn't have any skeleton in his cupboard, he should have stayed back and face the EFCC. Why run to Ghana?
My man, you sound very sensible, but why did you ignore my question?
Re: Top 5 Most Richest Nigerians by Queenisha: 11:50pm On Sep 12, 2008
what is Top  5 most richest? shocked shocked shocked
Is this a reflection of how bad our schools have gotten ? cry cry cry cry cry
Re: Top 5 Most Richest Nigerians by BigB11(m): 12:00am On Sep 13, 2008
You haven't answered my question; are you scared?
Re: Top 5 Most Richest Nigerians by DeepZone: 4:32am On Sep 13, 2008
You haven't answered my question; are you scared?

He doesn't have the answer.
Re: Top 5 Most Richest Nigerians by QuotaSyste(m): 10:30am On Sep 13, 2008
Big B1:

You haven't answered my question; are you scared?
If he doesn't have any skeleton in his cupboard, he should have stayed back and face the EFCC. Why run to Ghana? It's a question. I guess you are dodging it like your compatriot yemmyse.
Re: Top 5 Most Richest Nigerians by Jarus(m): 12:47pm On Sep 14, 2008
This is another topic I like to discuss. I ahve read about Nigerian's richest men in many newspapers,magazines and other publications:
All the publications are unanimous that Dangote is the richest Nigerian, followed by Adenuga. Only Dangote appears in Forbes magazine's(a US magazine) 1000 richest men in the world. He was rated 313th in the world,7th in Africa and 1st in Nigeria.
Dangote is almost twice as rich as the Adenuga,number two.

Reliable publications in Nigeria puts the order like this:
3,Femi Otedola
4,Jim Ovia(Know Jim Ovia and FO share 3rd and 4th places,but can't remember who is 3rd and who's 4th)
I can't recall the order of the other men that made the top 10 but vivdly remember Okoya,Folawiyo,Igbinedion Snr,Oba Otudeko,this Ibo man that invested heavily in stocks(can't recall his name) are in top 10.

1,Jimoh Ibrahim is overrated, not yet in top 10 in Nigeria.No publication has put him in top 10 in Nigeria.Finance his business majorly by loans. He only talks too much,unlike Dangote and Adenuga.
2,I'm still trying to understand why many publications put Jim Ovia as no 3. Does he have more than Zenith Bank and lately Visafone. I learnt he's building a university now. I'm always surprised seeing these publications rate him that high, but i atke their opinion because i believe they know more, and they would have done some research before publishing the list.
3,Honourable mention to Chief Kase Lawal, the Ibadan-born Texas-based oil-magnate and second biggest black entrepreneur in US. Ditto for Deinde Fernandez.I think the list published are for Nigerians based in Nigeria, because I think Kase Lawal and Fernandez will fight for no 2 spot with Adenuga, if they are based in Nigeria.
4, The oft-quoted report that BBC published a list of richest people in the world, and Harry Akande was no 7 in the world,and Fernandez no 19, was nothing but a fallacy. The Punch reported the story in 2000, saying they got it from BBC. But the next day, BBC refuted the story. But people never read the refutation. I'm still surprised that people still quote that Punch report till today, even though BBC(Punch's acclaimed source) has refuted the story the next day.
5,I have excluded the Generals and the politicians because their wealth are not as verifiable as these businessmen's. Many reports also don't consider them.

Nigerians rich list

Listed two years consecutively as Nigeria's richest man, his net worth in 2005 was $1.6 billion, and $4billion in 2006, now he's valued at $8billion in 2007.

The chairman of Dangote group, a conglomeration that manufactures everything from cement to sugar is the biggest private employer of labour in Nigeria with over 25, 000 employees.

He is today said to be ranked on the top 20 richest men in the world.

He has an all-glass and granite house in Victoria Island, a yacht, two private jets and many choice properties.

The Kano-born businessman is married with kids

Billionnaire Mike Adenuga

He is the Chairman of the Globacom Limited, Otunba Mike Adenuga, and may have relocated to London late last year.Most rich and influential Nigerians own houses at the avenue.
“Mike Adenuga is a serious businessman, who is pursuing his business in a way that is no Nigerian had done before. He is doing his best to contribute to the development and progress of this country.

Billionnaire Tony Elumelu
Mr. Tony O. Elumelu, MFR, is the chief executive officer of the Nigeria-based United Bank for Africa headquartered in Lagos, Nigeria. Elumelu was recently named the winner of the African Business Leader for 2006 for his ebullient contribution to African renaissance and economic development.
He is an efficient and a stalwart banker, a scholar of free enterprise and devoted capitalist. “A research economist with honors degrees at both graduate and post graduate levels in Economics. Tony obtained additional academic exposures from the Harvard Business School, USA and the Institute of Management Development (IMD) Lausanne, Switzerland.
His banking / financial career spans close to two decades and has seen him work in virtually all areas of banking. He was appointed MD/CEO of Standard Trust Bank Plc in 1997, a position he held till the successful completion of its merger with United Bank for Africa Plc in August 2005. He was recently appointed Group Managing Director/Chief Executive.
In the private sector, he is a founding Director of Transnational Corporation Plc and a member of the governing council of the Financial Institutions Training Center. He is also the President of the West African Bankers' Association (Nigerian chapter) and Vice Chairman of Standard Trust Bank (Ghana) Limited.

Chief Bayo Kuku
While some people excel in academics, some do in business, but this multi-faceted tycoon has been able to accomplish both. With luck and hard work, he has been able to attain an enviable height on the nation's economic terrain. But out of a characteristic humility, he refuses to flaunt his wealth and achievements. Instead, he maintains a low profile. However loud or intriguing the name Bayo Kuku might sound to you, the truth is that he has affected far too many lives to be ignored.

In spite of his philanthropy, the Ogbeni-Oja of Ijebuland, Chief Bayo Kuku has religiously held on to his slogan of "living a life of moderation".

Royal and majestic are the best words to describe his homes in Lagos and Ijebu-Ode. And for those who have been opportuned to have a glimpse into Chief Kuku's Ikoyi residence located on old Waring Road, since renamed after him as Bayo Kuku Road, you'D marvel at the luxury of his taste. Chief Kuku has been around for decades, yet his wealth and energy haven't waned a bit. He can compete favourably with today's emerging billionaires.

Otunba Olasubomi Balogun
Otunba Subomi Balogun who is regarded as one of the foremost bankers in Nigeria today having established the first indigenous bank, doesn't need introduction. Born in Ijebu-Ode Ogun state, Otunba, as he is fondly called, read law in England and happens to be the first Nigerian to receive special training in Legal Drafting. He is a trained lawyer whose tremendous success in the financial sector has since overshadowed his law profession.

In 1982, he founded the First City Merchant Bank (FCMB). After 18 years of unbroken success as a merchant bank, FCMB widened its doors to retail customers in January 2001 and adopted universal banking. The bank has since changed its name to First City Monument Bank and is one of the leading post-consolidation banks in Nigeria today. There is no doubt that today he is a man with plenty of cash. His eye popping edifice in both Lagos and Ijebu-Ode, his home town, further confirm his style and taste as a man of means. Otunba's case is that of an old money mixed with new money that continues to wax stronger.

I agree with you for the first two, but disagree with you on the last two. Bayo Kuku and Subomi are definitely super rich but definitely not up to making Top 5. They are in the same class with the Folawiyos and Okoyas, but I doubt if they are as rich as them. This is the first place I'll be seeing Tony Elumelu listed among Nigeria's richest. He's not even the richest banker. It is an open truth that Jim Ovia is the richest banker in Nigeria and I'm sure Tony himself will tell you that. Even, rich as Ovia is, I'm still trying to understand why he's rated the country's no 4(I don't know his business interests other than Zenith bank and Visafone), not to talk of Tony Elumelu.

Quote from: DeepZone on September 12, 2008, 08:13 PM
What made bayo Kuku a billionaire? His joint ownership to EKO hospital?
Another reason why I disagree that Deepzone is among the top analysts in politics section of nairaland. Not versed enough!
Sony Folorunsho Kuku, not Bayo Kuku, jointly owns Eko Hospital. They belong to the same Kuku dynasty in Ijebu.

Jimoh Ibrahim
Tony Ezenna(Orange Drugs)
Aliko Dangote(Dan Nigeria)
Mike Adenuga(GLO)
Orji Uzor Kalu
Cosmas Maduka(coscharis)

Bankers that are richer than Elumelu are:
Mike adenuga
Pascal Chukudozie
Jim Oviah

Remove Dangote and Adenuga from that list. Those were people that their bank accounts were stuffed with government stolen money. Their system is not how millionaires are made.

Haba, let's be fair to these men. Where are the government money they stole. You can say they influenced govt policy to favour them,but to say they stole money, it's unfair. Did they hold any post? Tell me a contract they were given? These men are pure businessmen and living examples of astute businessmen. The fact is that when you become rich to an extent, you dine with the presidents and top government officials, and become so influential to influence govt economic policy. It is recognised in Economics and it is called POLITICAL ECONOMY.That is a product of capitalism. The truth is that these men made their money before getting to the extent of becoming so influential enough to dine with govt, and of course, become richer. This is the practice in all capitalist sytems, and Us in particular.
I laugh at times when I hear some uninformed 'analysts' say its glo that made Adenuga or it's OBJ that made Dangote. It can't be the Adenuga I had known since 1991, when at just 38 years, won oil license along with 10 other well established billionaires then(Abiola,Folawiyo,Arisekola,can't recall the others but I think late haruna Abubakar was also there). Adenuga had been a Multi-Millionaire(if not billionaire) since late eighties, in his mid-thirties.So if you heard about Adenuga when glo came up, then you were not a follower of Nigerian economy since the eighties. I first knew Dangote in 1996. And he had also been rich for a while, even though his licence to import rice, during Abacha regime, people have argued, shot up his wealth. But if he was not rich to the extent of meeting the president, he wouldn't have secured such licence in the first place.

FYI, Niyi(Adenuga) was once a cab driver in UK, while schooling, while Dangote came to Lagos with just 500,000, given to him by his maternal grandfather Alhaji Aminu Dantata(then reputed to be Nigeria's richest man at that time, before Henry Fajemirokun surfaced in the late 1970s, and Abiola in eighties to mid-nineties).

So the summary is that, while not denying the fact that they became richer by befriending the presidents, Dangote and Mike were already made-billionaires, that got their wealth from their businesses. You have to be rich to certain extent before you can parley with govt in the first place. It is also almost impossible that people that are that rich stay neutral, politically. A single unfavourable policy can make them lose the billions they had got from hardwork.We call it POLITICAL ECONOMY.

NIGERIA'S RICHEST MEN BY TRIBE(order not important):

DANGOTEsadNo further discussion)
INDIMI(Maiduguri-rich enough to befriend Bush family)
ISYAKU RABIUsadStupendously rich kano man, IRS airline)
MANDARA: Another moneybag from maiduguri
DANTATA:Their late patriach was reputed to be the Nigeria's richest man in the 50s through 70s. Still has fabulously rich children. I came across their investments in one single company, while working in an Investment bank, early last year, and I can't believe what i saw!! i no talk oooo)
RAMANIYYA: Watch out for this upcoming billionaire from Sokoto. He's just in his early thirties and an oil-magnate
DAN KABO:Jarman kano, now late. Kabo air
AHMADU CHACHANGI: Chachangi airline. Stinking rich


IBO(East generally plus Mid-West):
This man that has great investments in stocks,can't recall his name
Diette spiff and a number of PHC billionaires, whose anme I can't recall

MY OBSERVATION:IJEBUS ARE THE RICHEST IN YORUBALAND. Produce the Adenugas,Kukus,Subomis,Onafowokans etc
Kano has also consistently produced stupendously rich men(From Dantata to Dangote to Isyaku Rabiu,Dan kabo, Chachangi etc)
Re: Top 5 Most Richest Nigerians by Nigeria10: 1:00pm On Sep 14, 2008
i help seperate igbo list
ishaya rabiu
the list from the north is endless

IBO(East ):
ikele dili chukwu
the young shall grow

Up bendle

include my name i am going to be on forbes list very soon in jesus name. amen.
Re: Top 5 Most Richest Nigerians by amaikama(m): 4:10pm On Feb 18, 2009
You are all inspired about people who made their millions either from scratch or dupious means when you all should be thinking of your own millions or its poverty you all want your children and grand children will be inheriting angry
Re: Top 5 Most Richest Nigerians by ilaugh1: 4:13pm On Feb 18, 2009
Call then the 5 top people who stole the most from Nigeria and from Nigerians.
Re: Top 5 Most Richest Nigerians by banom(m): 4:23pm On Feb 18, 2009
Re: Top 5 Most Richest Nigerians by Muza(m): 8:43pm On Feb 18, 2009

thats wat i wanted to say
Re: Top 5 Most Richest Nigerians by Jyrator: 9:15pm On Sep 07, 2009
The essence of a 'Rich List' is to rank the people according to their Net Worth.

The first post failed to do so, save for Dangote.

Regarding Bayo Kuku, he's not the one who co-owns EKO hospital, that would be his brother Chief Sunny Kuku.

Chief Bayo Kuku is a major player in the oil and gas industry [dunno the name of the company but I have heard gist about his wealth - short version: dude's loaded!

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