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Billionaire list : BUA boss, Rabiu, edges out Adenuga, becomes Nigeria’s 2nd richest person
Billionaire list : BUA boss, Rabiu, edges out Adenuga, becomes Nigeria’s 2nd richest person
Abdul Samad Rabiu, the Nigerian billionaire and Chairman of BUA Group, has surpassed Mike Adenuga to claim the position of the second-richest person in Nigeria.
This shift in rankings is attributed to the significant surge in Rabiu’s fortune, now estimated at $7.2 billion, according to Forbes’ list of global billionaires, where he ranks 343rd.
The remarkable increase in Rabiu’s net worth, with an addition of nearly $1.9 billion in the past week, is primarily associated with the valuation of BUA Foods.
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BUA Foods’ shares witnessed substantial growth, soaring over 10% from N40 ($0.0968) to N44 ($0.1065) in early January 2024, contributing to the surge in market capitalization to N792 billion ($1.92 billion). This propelled Samad ahead of Adenuga, whose net worth currently stands at $6.6 billion.
The recent reassessment of Adenuga’s mobile phone network, Globacom, by Forbes resulted in a temporary shift in rankings earlier in January. However, Adenuga’s wealth has seen a decline since then, dropping by $400 million to $7 billion.
Samad’s rise to the second-richest position in Nigeria underscores the dynamic nature of wealth rankings and the influence of market fluctuations.
As Rabiu takes this prominent position, Aliko Dangote retains his status as the wealthiest individual in Nigeria.
Billionaire list : BUA boss, Rabiu, edges out Adenuga, becomes Nigeria’s 2nd richest person
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Tinubu jets out to France on three-day visit
Tinubu jets out to France on three-day visit
President Bola Tinubu will travel to France today (Wednesday) for a three-day state visit at the instance of the French president.
A statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed this.
It said, “The Nigerian leader’s three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.”
Onanuga said Tinubu and Macron would harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.
“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication,” he added.
“They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.”
The presidential adviser stated that the Nigerian first lady and her French counterpart would discuss solutions for empowering women, children, and the most vulnerable through the Renewed Hope initiative.
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Yahaya Bello reports to EFCC office with lawyers
Yahaya Bello reports to EFCC office with lawyers
A former Governor of Kogi State, Yahaya Bello, on Tuesday visited the Economic and Financial Crimes Commission (EFCC) to honour another invitation extended to him over alleged misappropriation of funds.
Bello went to the anti-graft office with his lawyers in the morning.
The ex-Kogi governor reportedly drove himself to the EFCC’s office in a black Toyota Hilux van with some lawyers.
He was said to have been taken by some operatives of the agency and are currently being grilled.
This is coming after the Supreme Court judgment which dismissed a suit brought by some state governments challenging the constitutionality of the agency.
The EFCC at the last hearing on November 14, sought the adjournment till November 27 in the fresh case it instituted against Bello.
It stated that the 30-day window was still running for the summons earlier issued.
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Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct
Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct
Ebonyi State Governor Francis Nwifuru has announced the immediate suspension of two commissioners with a permanent secretary among others for gross misconduct.
Those suspended are the Commissioner for Housing and Urban Development Francis Ori, and the Commissioner for Health, Moses Ekuma, with the Permanent Secretary of the Ministry of Health.
The suspension followed an incident on Saturday night, when the governor reportedly visited the Ministry of Health’s premises and was said to have found six officials diverting government materials.
Others suspended for three months are the Executive Secretaries of the State Primary Healthcare Development Agency and the Ebonyi State Health Insurance Agency
The suspension order was announced by the state Commissioner for Information, Jude Okpor, who cited alleged misconduct and dereliction of duties as the reasons for the disciplinary actions.
Okpor made the disclosure on Tuesday during a press briefing on the outcomes of the State Executive Council meeting held on Monday at the New Government House in Abakaliki, the state capital.
“Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three months suspension of the Honourable Commissioner for Health, respectively
“In view of the development, the Special Assistant to the Governor on Primary Health was directed to take charge of the ministry in the absence of the suspended commissioner.
Governor Nwifuru directed the suspended government officials to hand over all government properties in their possession including vehicles to the Secretary to the State Government.
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