Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 - Business (4) - Nairaland
Nairaland Forum › Nairaland General › Business › Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 (46998 Views)
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by pride4legacy(m): 3:00pm On May 07, 2025 |
Where is Pa Innocent Okala ( The Merchant of Calabar) |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Raf4: 3:07pm On May 07, 2025 |
Adebisi of Idi-Ikan and Agbaje (both from Ibadan) Jimoh Odutola Daniel Taiwo Olowo Henry Fajemirokun Adekoya Okupe Balogun Belo Kuku |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Obiedun(m): 3:07pm On May 07, 2025*. Modified: 10:07pm On May 07, 2025 |
franchasng:For where? You haven't read at all |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by okeyfx(m): 3:11pm On May 07, 2025 |
From Chat GPT 4o How rich was Sir LouisSir Louis Odumegwu Ojukwu (1909–1966) was a pioneering Nigerian entrepreneur and is widely regarded as the country's first billionaire. His wealth and influence during the mid-20th century positioned him as one of the most prominent figures in Africa's business landscape. --- ### 💰 **Estimated Net Worth** At the time of his death in 1966, Sir Louis's wealth was estimated to be around **$4 billion**, which, when adjusted for inflation, equates to approximately **$40 billion** in today's terms. This immense fortune was amassed through diverse ventures spanning transportation, real estate, manufacturing, and finance. --- ### 🏢 **Major Business Ventures and Assets** 1. **Ojukwu Transport Company**: Established as one of Nigeria's largest transport firms, it boasted a fleet exceeding 5,000 trucks, facilitating goods movement across the nation. 2. **Ojukwu Stores and Ojukwu Textiles**: These enterprises dominated the retail and textile sectors in Eastern Nigeria, catering to a vast consumer base. 3. **Real Estate Holdings**: Sir Louis invested heavily in property, owning significant assets in major Nigerian cities, contributing to his substantial wealth. 4. **Board Memberships**: He held influential positions on the boards of several major corporations, including: - Shell Nigeria - Guinness Nigeria Limited - Nigerian National Shipping Line - Nigerian Cement Factory - Nigerian Coal Corporation - Costain West Africa Ltd - John Holt plc - Nigerian Marketing Board 5. **Financial Institutions**: He served as the president of the African Continental Bank and was the founding president of the Nigerian Stock Exchange, playing a pivotal role in shaping Nigeria's financial sector. --- ### 👑 **Recognition and Honors** - **Knighthood**: In recognition of his contributions, especially during World War II when his transport company supported British logistics, Sir Louis was knighted by Queen Elizabeth II. - **Luxury Symbol**: He was reputedly the first Nigerian to own a Rolls-Royce, a testament to his affluence and status. cite --- ### 🌍 **Standing Among Africa's Wealthiest** During his era, Sir Louis Odumegwu Ojukwu was arguably the richest man in Nigeria and among the wealthiest in Africa. His diversified investments and expansive business empire set a precedent for future African entrepreneurs. --- For a more in-depth look into his life and achievements, you might find this video insightful: --- |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by razzydoo(m): 3:25pm On May 07, 2025 |
New Money, they looking down on me... ![]() |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by sharone21(f): 3:35pm On May 07, 2025 |
Others: Dehinde Fernandez Fela( Baba 70): Very rich ... He would be in Lagos and when hungry for moimoi, send people to Benin Republic to buy moimoi for him from those he patronizes. His money in Naira then converted to dollars was huge. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Love800(m): 3:45pm On May 07, 2025 |
What do they bake actually? tommy589: |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Oloniyan(m): 3:46pm On May 07, 2025 |
Thunderfayamods:I was born and brought up in Ekiti and I do hear my grandmother said it that she's not as rich as darosa any time I demanded for something extravagant from her. I only got to know the meaning when the era of Internet came. I've witnessed almost 4 decades o ![]() |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Love800(m): 3:46pm On May 07, 2025 |
The govt was nice and supportive then. Pre-colonial times! QuinQ: |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Warmaterial(m): 3:59pm On May 07, 2025 |
Goalnaldo:Ajeh no loud am ![]() |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by QuinQ: 4:34pm On May 07, 2025 |
Love800:But govt was nice to all, so how come all were not rich. See below how Rockefeller explained his wealth (the richest man in the world all his life)
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| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by judewrites: 4:52pm On May 07, 2025 |
ogaemma:Good old days when hard work pays...truth. Now many seek soft work and want to be rich overnight. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by denjjy(m): 5:28pm On May 07, 2025 |
Maxymilliano:. My dad used to tell me when I'm about leaving for school. "If you like start behaving like darocha when you get to you, wo ebi ma pa ori" |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Ofemannnu: 5:49pm On May 07, 2025*. Modified: 2:31pm On May 08, 2025 |
VEHINTOLAR:Yoruba have always been the richest people from inception not only in Nigeria but Africa especially amongst black Africans. Till date they are the only people who have up to 4 dollar billionaires according to Forbes and Bloomberg also the greatest number of billionaire musicians,Nollywood people etc. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Wickedlywicked: 5:59pm On May 07, 2025 |
ogaemma:Who told you this? You sound so sure that they were all clean Na only yourself you know o.My friend, almost no generational wealth comes from healthy sources. Often times, generational wealth starts with one big thief whose legacy is later built upon. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by joshuaadron: 6:06pm On May 07, 2025 |
You mean my grandfather no make the list 😭... I will surely make the list of prominent people and billionaires in my generation |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by ogaemma: 6:22pm On May 07, 2025 |
Wickedlywicked:Deep words to really ponder about.
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| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by placeofallure(f): 6:36pm On May 07, 2025 |
Davoneskay:Could be, you don't mix well with the people. Even for the Yoruba-speaking part of Kogi, they use the slang "Darosa" for someone who spends generously. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by kay29000(m): 7:19pm On May 07, 2025 |
Maxymilliano:It must be an old slang cos I don't know about it. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Love800(m): 7:21pm On May 07, 2025 |
I don't know how to answer it best. But these guys leverage on the government's good-will(incentives), because they got the information about it. Is not like the others were maltreated by govt, but them(others) didn't have anything to develop. They were just going about their everyday job and living their normal lives! QuinQ: |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Kdon2: 8:24pm On May 07, 2025 |
franchasng:Have you heard of mansa kankan Musa before! |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by QuinQ: 8:49pm On May 07, 2025 |
Love800:What you mean to say is that even the poor were doing ok, enjoying good governance |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Love800(m): 9:00pm On May 07, 2025 |
Yes, exactly. QuinQ: |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Davoneskay(m): 10:08pm On May 07, 2025 |
placeofallure:Thanks so much for your clarification, madam. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Augustenite(m): 11:36pm On May 07, 2025 |
franchasng:Y always showing stupidity at every slightest opportunity? |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by lenghtinny(m): 4:34am On May 08, 2025 |
Davoneskay:The first time I heard “ ma nawo yafun yafun bi Darocha” was in that same Ibadan you mentioned… Trust me, the name was a popular slang outside Lagos back then… I didn’t even know the Darocha was a real human until I grew older… I thought it was just some metaphor ![]() |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Blazebond(m): 8:13am On May 08, 2025 |
If you think because they made their money in 1600 eras then that makes them saints or their monies clean then your are a delusional clowns, atrocities or atrocious acts didn't start today, it started from the beginning of time,the difference between now and then is that the "now" have things like "social media" which helps to expose most of the thieves and manipulators among them easier than in the past. If you know the things people did in the earlier times to build their wealth and power ehn,you will cringe in your soul. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Konquest: 11:13am On May 08, 2025 |
Great100000:Candido Da Rocha (who is of Ijesa-Yoruba descent but was born in Bahia, Brazil in the 1800s to an Ijesa father) was the FIRST EVER Nigerian Pound Sterling millionaire. He was a financier and wealthy businessmen who built the massive mansion on Kakawa Street, Lagos Island named "Water House" mansion because it was the first point on Lagos Island where potable water was first sold. The water facility was built by Candido Da Rocha himself. Second, and this is the problem I have with some young journalists who CLEARLY do NOT read historical materials and books OR do their research properly BUT end up in advertently and even deliberately spreading disinformation, Louis Ojukwu was NEVER the richest man in Nigeria and he was NEVER the first African billionaire as indicated irresponsibly in this "Pulse online publication." This is MISINFORMATION! Pulse has do urgently do a corrigendum so as NOT to further mislead impressionable people. Alhassan Dantata was CLEARLY the richest Nigerian man when he was alive NOT Louis Ojukwu who ONLY made his FIRST millions from Yorubaland by reselling the lands he bought at a cheaper cost from the indigenes of Iruland (Victoria Island, Lagos State) to the British Colonialists who needed land for development as CLEARLY stated in Frederick Forsyth's 1969 book on the Nigerian Civil War. Frederick Forsyth was Emeka Ojukwu's friend so the information in the book which I have read and a copy of the 1969 book is in my home library is very credible. |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Konquest: 11:49am On May 08, 2025 |
franchasng:This information right above is gross historical disinformation! Louis Ojukwu was NEVER the first documented richest man either in Africa or Nigeria. Candido Da Rocha is the FIRST EVER documented Nigerian to become a pound millionaire. Candido Da Rocha was a very wealthy businessmen and financier of Ijesa-Yoruba descent who was born in Bahia, Brazil, before he and his Yoruba parents returned in the late 1800s to live on Lagos Island (Eko) in Nigeria. This is the problem I have with some young journalists who CLEARLY do NOT read historical books and archival materials OR do their research properly BUT end up in advertently and even deliberately spreading disinformation online and offline. As CLEARLY stated, Louis Ojukwu was NEVER the richest man in Nigeria and he was NEVER the first African or Nigerian billionaire as indicated irresponsibly in this "Pulse Ng online publication." This is MISINFORMATION! Pulse has do urgently do a corrigendum so as NOT to further mislead impressionable people. Alhassan Dantata was CLEARLY the richest Nigerian man when he was alive NOT Louis Ojukwu who ONLY made his FIRST millions from Yorubaland by reselling the lands he bought at a cheaper cost from the indigenes of Iruland (Victoria Island, Lagos State) to the British Colonialists who needed land for development as CLEARLY stated in Frederick Forsyth's 1969 "Biafra Story" book on the Nigerian Civil War. Frederick Forsyth was Emeka Ojukwu's close friend so the information about Louis Ojukwu's first ever million pounds made from selling his Lagos land which he earlier bought on lease from the indigenes of Iruland (the Yoruba name of Victoria Island) to the British Colonialists as stated in the book (which I have read and I have a copy of the 1969 book in my personal home library for decades now is very credible). |
| Re: Meet The Real Old Money: 10 Nigerians Who Made Their Fortune Before 1960 by Konquest: 12:13pm On May 08, 2025 |
placeofallure:The young guy you quoted above stated clearly that he was still in the University in 2011, so he was born sometime in the 1990s and as you said, he probably "didn't mix well" with the people. The older folks in Yorubaland especially starting from Lagos Island (and those who are younger but mixed well know with older folks) know full well about the Bahia, Brazil-born, Candido Da Rocha [who is of Ijesa-Yoruba descent through his father Esan Da Rocha from the current Osun State who unfortunately fell victim to the trans-Atlantic slave trade in the early 1800s and was deported on a slave ship to Bahia in Brazil. He fortunately returned to Yorubaland in the late 1800s with his son, Candido Da Rocha and his wife] and Candido's name being used as a metaphor for many decades now since the time he was alive to describe his wealth and generosity from being the FIRST EVER Pound Sterling millionaire of Nigerian descent. Candido Da Rocha is the one who built the famous "Water House" or ,"Casa d'Agua" mansion located on Kakawa Street on Lagos Island. |
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