Known for his diverse investments in oil, gas, telecommunications, banking, construction, and real estate, Mike Adenuga notably shook up the African telecom sector with the launch of his telecommunications network, Globacom Limited (Glo), in August 2003.
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Mike Adenuga: The Billionaire and His Entrepreneurial Consistency – $700m Better in 2024 –
Published
2 months agoon
By
Eric

By Eric Elezuo
The saying, when the going gets tough, the tough gets going, applies chiefly to a man, who has justifiably fits the term, ‘The People’s Billionaire,’ as a result of his humanitarian gesture to everything that pertains to life and living. He is Dr. Michael Adenuga Jnr. He is the brain behind the successes recorded at Glo. He is the Chairman, Globacom Group.
Rising from a year that has been replete with economic downturns, where several enterprises and entrepreneurs are counting their losses, Dr. Adenuga has significantly raked in over United States $700 million, to shove up his fortune. A feat, only fit for kings!
According to Billionaires.Africa, a news magazine that tracks the progress or otherwise of African billionaires, Adenuga, in spite of the harsh economic environment, occasioned by policy somersaults of the present administration, has proved that his business acumen supercedes environmental economic variables, giving him the leverage to not only have its head above water, but to smash every available class ceiling of average.
The magazine wrote, “Amid a year marked by currency depreciation across several African nations, including Nigeria, billionaire businessman Mike Adenuga solidified his position among the continent’s wealthiest individuals and the world’s 450 richest people. Adenuga, who built his fortune in telecommunications and oil production, saw his net worth rise by $700 million in 2024, a testament to the resilience and diversification of his business empire.
“As of Jan. 1, 2024, Forbes, the U.S.-based business magazine renowned for tracking global billionaire fortunes, estimated Adenuga’s wealth at $6.1 billion. By Dec. 31, 2024, his net worth had grown to $6.8 billion, ranking him as the 448th richest person in the world. Adenuga’s wealth is anchored in his control of Globacom, Nigeria’s second-largest mobile telecommunications and digital services provider, which boasts over 60 million subscribers.”
Known by so many appellations including the Spirit of Africa for his philanthropic gestures across board, and The Bull, for his resilience and ability to dare the impossible, Adenuga has proved over the years that he is not the regular billionaire. He is of the stock that is not regulated by stock market figures, but by liquid cash. And that explains why his wealth and net worth supercedes whatever figures churned out by any institution, or any position he is placed in the billionaires’ list.
Adenuga is, for all intent and purpose, in a world and class of his own. This is because his business trajectory and personal philosophy are uniquely his, and therefore worthy of emulation.
Sitting atop one of the most cherished and subscribed network, Glo, Adenuga has not only inspired lives, and practically lifted not a few to enviable heights.
Also referred to as The Guru, Adenuga is like the proverbial Iroko tree, who is unlike any other. In terms of humility, pedigree, magnanimity, wealth and portfolio of investments, he is one of a kind.
His story is like a movie: When the Federal Government decided to give indigenous businessmen licences in the dollar-denominated but capital-intensive upstream oil sector, Adenuga was one of those who applied.
Unlike others who sold their licences for quick money, Adenuga was vision personified, and decided to go into full scale prospecting and exploration. The gamble paid off as one of the wells that was being drilled struck oil, making his company, Consolidated Oil, the first indigenous Nigerian company to discover oil in commercial quantity. The epoch making discovery on December 24, 1991, changed many narratives.
Despite his success, Adenuga believes business must have a human face, it must add value, it must have an impact and ultimately, be socially responsible. These are some of the core values that he considers before throwing his money into any investment.
That is not all, he also firmly believes that the world is a field of battle and you must prepare to win, not some time but all the time. He’s a mountain climber like the Tibetan Monk, who believes that you must survive all odds to get to the top.
Incredible tales have been told about his amazing capacity for work. He is known to sleep very little when there is work to be done, and he expects his staff to imbibe the same work ethic. Though generous, he is said to have zero tolerance for incompetence or sloppiness. With him, one must be on their toes every time.
It is therefore, no surprise that his targeted investments and the grace of God Almighty have placed him well ahead of the authentic list of billionaires. His never-give-up spirit is well known and it is this force that has driven him to achieve feats many mortals will think are impossible.
Adenuga has no rival. He is a symbol of endurance, entrepreneurship, extraordinaire and self-made business titan, who is certainly one of the wealthiest black men in the world.
HIS EARLY LIFE
Born on April 29, 1953 to Oloye Michael Adenuga Sr and Chief (Mrs) Juliana Oyindamola Adenuga, the Yeyeoba of Ijebuland, Otun Gbadebo of Ikija and Iyalaje of Ijebu-Igbo, Dr. Mike Adenuga Jnr was not a silver spoon kid, but his parents were comfortable.
The indigene of Oru, Ijebu-Igbo, Ogun State was born and schooled in Ibadan. He attended the famous Ibadan Grammar School. He had his university education in the United States. He majored in Business administration with emphasis on Marketing.
While in school, to augment the allowance sent by his parents, he worked as a cabbie (Taxi Driver), putting in many hours of work a week. This culture of back-breaking hard work shaped him for his ambitious business adventures later in life.
HIS FAMILY
Dr. Mike Adenuga Jr is married to Mrs. Titi Adenuga (nee Adewale). She provides the comfort and stability that such an incredibly busy man requires. His children are Oyin, Babajide (Bobo), Paddy, Bella, Eniola, Bimbo, Sade and ‘Niyi Jnr. He also has grandchildren.
HIS BUSINESSES
As soon he finished his studies in the United States, Dr. Mike Adenuga Jr. returned to Nigeria. His mother was into business, and it was under her tutelage that he began trading. It is probably because of the tremendous impact that she had in his life as Business Adviser that he adored her so much. She passed on in 2005.
Dr. Adenuga Jr, who is the youngest of his parent’s five children, began by selling removable car stereos. Probably sensing his business acumen, he was allowed to run the family saw mill factory in Ogun State.
He began to steadily grow the business. First, he went into the importation of saw mill equipment, then veered into importation of beer eventually hitting it big with his importation of lace.
Recounting those early days, the businessman extraordinaire said he was returning home from a trip in the United States when he missed his British Airways flight and had to fly Swiss Air. On that flight, he was lucky to sit next to the owner of one of the biggest lace manufacturing companies in Austria.
He, it was, who convinced him before the flight touched down to give lace importation a shot. He took this advice and the reward was good. Later, he also went into tomato puree and vegetable oil. He was a sort of Jack of all trades and master of all. By the age of 26, he was already a millionaire.
As he grew older with more financial muscle, he decided to streamline his operations and look for investments in key sectors of the economy to concentrate on. That was how he began to structure the Mike Adenuga Group where he is Chairman.
When General Ibrahim Babangida decided to break the monopoly of foreigners in the oil industry and encouraged Nigerians to participate, Adenuga was one of those who took up the challenge.
His company, Consolidated Oil applied for and was granted some oil blocs. It was a very risky decision and even his mother advised him against it. He spent over $100 million on evaluation, interpretation and drilling. His courage and tenacity paid off when Consolidated Oil became the first Nigerian company to explore, discover and produce oil in large commercial quantities. Now called Conoil Producing Limited, it is currently the leading indigenous oil and gas exploration and producing company in Africa.
Years later in year 2000, he bought over the moribund National Oil and Chemicals Company (NOLCHEM), taking over the government’s majority shares. He has since injected fresh funds into the company and rechristened it Conoil Plc.
Conoil Plc has over 450 retail outlets all over the country and is the acknowledged leader of development in modern retail outlets such as mega stations and non-space pumps in new-look retail outlets. It is the market leader in aviation fuels.
Adenuga’s most ambitious project yet is in telecommunications. His company, Globacom is the Second National Operator in the country. The first is the government-owned NITEL. It is obvious that with Globacom, Adenuga is not interested in short-term profit, he is there for the long haul and of course, his desire is to give Nigerians and Africans world class telecommunication services.
When he launched the network, he was two years behind the others, Adenuga’s entry strategy was to be innovative and aggressive. He waged a price war, democratized and demystified telephone services. Today, the ultimate risk taker has taken Globacom from the nadir to the zenith of the industry.
Glo was the only operator in Africa to launch its operations on the superior 2.5G network which enabled the convergence of voice, data and multimedia technologies.
But more importantly, it launched operations on Per Second Billing, thus ensuring subscribers only pay for actual time spent on a call instead of the practice of billing customers N50 per minute even when the call cuts off at just 2 seconds. It also crashed the cost of SIM card from N30,000 to N6,999 and later N100, thereby making it possible for low income earners, students and artisans to own GSM lines today. It is now one of the most recognizable brands across the continent.
The network currently has over 60 million subscribers, and is the most preferred network in Nigeria, with a vast network of already laid fibre crisscrossing all parts of the country.
The Globacom network comprehensively covers over 400,000 communities, all the 36 states and all major highways. Globacom has highly successful subsidiary networks operating in other West African countries.
Reputed to be very hands-on in the operations of his businesses, Dr. Adenuga, whose daughter, the cerebral Mrs. Bella Disu is the Executive Vice Chairman, Globacom, still gets briefs on the day-to-day running of his business empire.
Glo 1 – This is the only solely-owned high capacity submarine cable with connection to the USA and running from the UK through African and European countries. It has been and continues to be a huge commercial success at the heart of the socio-economic development of Nigeria.
It is remarkable that it is a Nigerian company that has pulled off this ambitious project. One of Adenuga’s close associates said the idea of building a submarine cable berthed when the entrepreneur went on a business trip to Paris, the French capital, sometime around 2008.
While there, he found out that telephone calls to Nigeria were epileptic unlike the connection between France and other parts of Europe. When he made enquiries about what could be done to solve the problem, he was told it was to have an international submarine cable. There and then, Dr Adenuga decided to build Glo 1, and the rest is now history. The project is a testament to the entrepreneurial spirit and foresight of ‘The Guru’.
Dr. Mike Adenuga Jr also has vast holdings in the banking, real estate and infrastructure sectors of Nigeria.
It is not hard to imagine that Adenuga is the richest man in Nigeria, and indeed Africa, and of course when one quantifies wealth in terms of liquidity, and not stocks. He is unmatchable.
HIS SUPPORT FOR SPORTS
His passion for giving is not only personal, the culture has also been imbibed by his companies especially Globacom. Through Globacom, he became the biggest supporter of football in Africa.
For so many years, the company supported the development of Nigerian sports through the sponsorship of the Nigerian Premier League and the national football teams of Nigeria when no other corporate organisation wanted to touch the assets.
Globacom spent billions of naira in developing the Nigerian league and clubs, and this culminated in Enyimba Football Club winning the prestigious Champions League twice in a row, while the Super Eagles won the Nations Cup in 2013.
In that same 2013, the company signed a N1.9 billion deal with Nigeria’s league Management Committee. The company also did same for other associations and major leagues in Africa.
Dr. Mike Adenuga Jr. also started a football revolution with the sponsorship and transformation of the yearly Glo/CAF Footballer of the Year Awards. He is the undisputed pillar of sports in Africa.
HIS GIANT STRIDES IN CULTURE AND CREATIVE INDUSTRY
Nigeria’s entertainment industry has also received a massive boost through Adenuga’s love for the arts expressed through Globacom.
No company in the nation’s private sector in the last two decades, has consistently invested largely in Nigeria’s entertainment industry like Globacom Limited.
Adenuga’s vision is reflected in Glo’s youth-driven ecosystem. There is no strata of Nigeria’s entertainment industry that you will not find the signature of Glo on it: from music to acting to comedy to sports, etcetera, the list is long.
Glo has come to be regarded as a network of stars. No corporate organization has had the kind of constellation of entertainment heavyweights as it brand ambassadors as Globacom. All through the years, the cream of the country’s musicians, footballers, literary icons, actors, actresses and comedians have either be signed on as brand ambassadors or featured in the company’s commercials.
Some celebrities who have graced Glo’s Hall of Fame include: King Sunny Ade, Ebenezer Obey, Osita Osadebe, Oliver d’ Coque, Prof Wale Soyinka, Yusuf Maitama Sule, Nelly Uchendu, Onyeka Onwenu, D’Banj, MI Abaga, PSquare. Others are Rita Dominic, Ini Edo, Juliet Ibrahim, Matter Ankomah, Davido, Wizkid, Flavour, Gordons, Basketmouth, I go Dye, Teniola, Brother Shaggi, Mikel Obi, Victor Moses, Osaze Odemwingie, Joselyn Dumas, Michael Essien, Anthony Joshua, etcetera.
The most recent in the list of Glo’s ambassadorial list is Ime Bishop Okon, better known as Okon, a favourite comedian among entertainment buffs.
While the commercials that featured these stars helped to market the Glo brand and make it a household name, the partnership benefited these celebrities very well as it served as strategic public relations for their individual brands and its attendant financial gains.
So far, no corporate organization has touched the lives of these celebrities like Glo. The advent of Glo has really been a blessing to celebrities in the industry and beyond. The most interesting factor is that Glo is still in the business of investing in the industry despite excruciating economic realities in the country.
This explains Glo’s humongous investments in talent hunt shows in the last eighteen years. It has sponsored shows like: Rock ‘n’ Rule, GloNaiga Sings, Laffta Fest, and the world number one music singing talent reality TV show, X Factor, which birthed in Africa for the first time in 2013.
Others are Slide and Bounce concert, an entertainment tour which went round all the geopolitical zones of the country as well as Glo Mega Music Show and Glo’s Battle of the Year, which gave the winners a life-changing N9 million prize money, a Toyota Hiace bus valued at N25 million and other prizes.
Similarly, the nation’s art and culture have also been positively touched by Globacom. From Ojude Oba in Ijebu-Ode, Ofala in Onitsha, Lisabi in Abeokuta, Imeori in Abriba, Oru – Owerri in Imo state, Afia- Orlu In Nnewi, Anambra State and Abia –Ugwa in Isialangwa in Abia State among others. The company has through sponsoring the festivals not only brought them to international limelight, but has also turned the host cities into major tourist attractions.
HIS PASSION FOR PHILANTHROPY
He is without doubt, the most generous Nigerian alive. He gives ceaselessly and carelessly. He is an angel of mercy; giving is living for him.
Describing Adenuga’s large heart in an article, The Boss Newspaper Publisher, Dele Momodu, wrote “Everyman should wake up and pray to meet and become good friends with the Spirit of Africa. Trust me, it is worth every second of it. Just imagine a man who dashes out the same kind of cars he drives to friends.
“Dr. Adenuga believes that his friends are entitled to the same kind of material things that he wishes for and buys for himself. He has no jealous or mean streak in him in that respect,” he wrote.
Adenuga’s former close aide, Bode Opesietan also stated “Dr Adenuga’s generosity is legendary. He gives personal rewards like no other billionaire. If God has given you this kind of resources, it is not for you and your family alone” he would say”.
Also during the peak of the COVID-19 pandemic, Adenuga was the first to donate N1.5 billion to fight the dreaded coronavirus scourge. He set the stage for other Nigerians to contribute to the management of the scourge. That is typical of the Guru, he leads, others follow.
According to Adenuga “How much money can one individual or his family enjoy? You must spread it and touch lives…that is what brings true happiness and joy. What’s the point if your friend is wealthy and it doesn’t show on his friends”.
There is nothing more to add. When it comes to philanthropy, Adenuga is in a class of his own! Indeed generosity is in his DNA!
HIS PHILOSOPHY OF LIFE
Dr. Adenuga loves integrity and loyalty. Because he hardly goes out, he is able to monitor people and events quietly from his desk and home.
Aside from this, He has had to navigate his way through the murky waters of Nigerian politics. Dr. Adenuga avoids and shuns politics like the plague. He does not believe that he must be involved in politics for his businesses to survive or thrive.
All he campaigns for is an avenue to do business on a level playing field because he knows that he can survive and outlast most people. He considers himself one of the fittest and the best, if not the fittest and the best since he is methodical, calculating and highly industrious and energetic, and does not like attracting unnecessary attention to himself or his business.
Among many of his pluses, Adenuga is sagacious, methodical man, and rewards excellence. He does not suffer fools gladly. Most of his offices around the world are open 24 hours.
HIS LIFE STYLE
You can call him an enigma and you will not be wrong. He is a very shy gentleman, a trait that many mistake for arrogance. Before Globacom, Dr Adenuga Jnr was one of Nigeria’s silent billionaires. He was making his money without fanfare. Then came Glo, and he became one of the most recognizable Nigerians alive.
Till date, he hardly attends public functions and even if he does he sneaks in without any fuss and leaves even before the Master of Ceremonies recognizes his presence.
Despite this elusive persona, those who have met him can attest to his ebullient nature. He is one man who catches his fun when he is in the mood. He has very fine and elegant taste. A connoisseur through and through.
Contrary to what many think, he still finds time to unwind most times only in the company of his inner circle of friends and family.
Dr. Adenuga is neither ostentatious or extravagant in his style and dress. For him moderation is the value of life. In the early days, it was obvious he loved safari suits, but these days nice flowing shirts which mostly have his personal crest emblazoned on them are the norm.
Of course like all billionaires, he loves powerful cars, nothing over the top or attention-seeking. And as per flying, he has the accoutrement that fits his jet set, super executive lifestyle, which means he has long forgotten what it looks like to fly commercial.
HIS LOVE FOR FRANCE
Dr. Mike Adenuga has always had a great affection for France, and had long established a cordial relationship with the nation between the recent President Bola Tinubu incursion into French territory. He often visits the country, where he also owns property, and has maintained a productive and valuable relationship with French interests.
It was out of this desire, love and affection for France that he ardently supported the development of Alliance Française in Lagos, in the wish to see that its activities, efforts and initiatives could be enhanced, and its reach and appeal increased.
The brand new, ultra-modern Mike Adenuga Centre was unveiled by French President, Emmanuel Macron in 2019.
It is for this great act and his humongous investments that the French president deemed it fit to bestow on him the country’s highest national honour.
HIS HONOURS ROLL
For his contribution to economies and communities across the globe, Dr. Mike Adenuga has been appreciated with so many awards, traditional titles and honours. The most prominent are the national honours from Nigeria, Ghana and France.
In Nigeria, he holds the highest civilian honour of Grand Commander of the Order of the Niger (GCON), this honour was hitherto reserved for mostly vice presidents.
In Ghana, he was awarded the highest civilian honour of Companion of the Star of Ghana (CSG). According to then President John Mahama, who conferred the indefatigable businessman with the honour at a state ceremony: ”You have touched many lives in Ghana. You have provided employment for our teeming youths, artistes, footballers and many more. I am particularly proud of you. This award is our way of a saying a simple thank you.”
The entrepreneur extraordinaire was also decorated with the Chavalier de la Legion d Honnuer (CdrLH), the highest National honour of France, by French President, Emmanuel Macron.
Explaining why the French Government decided to confer the honour on Adenuga, President Macron, who described the consummate businessman as a true model of Africa, noted that he had contributed immensely to the African and French economy.
A toast to the impressive African treasure, business phenomenon and this generation’s Mr. Consistency.
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Bella Disu: The Rise and Rise of a Boardroom Guru
Published
5 days agoon
March 9, 2025By
Eric

By Eric Elezuo
Nigerian women have shown resilience, strength and character in administration, government and entrepreneurship, contributing more than their quota, and giving vent to the growth and development of the nation’s socio-economic sector. Among them is the Executive Vice Chairman of the A-list communications outfit, the Globacom Group, Mrs. Bella Disu.
A strong purpose-driven professional and boardroom guru, whose administrative skills, intellect, experience and academic trajectory have remained a subject of reference, Bella, as she is fondly called, is a woman, who though has a privileged background, carved a niche for herself, climbing through ladders and cadres to get to where she presently is, and more importantly, can boast of the desired leverage and ability to defend her position.
Born Belinda Ajoke Adenuga, on May 29, 1986 to the duo of Emelia Adefolake Marquis, a Nigerian entrepreneur, and the global phenomenon, Dr. Mike Adenuga Jr., Bella received her early education in Lagos, at the prestigious Corona School in Victoria Island before enrolling at Queen’s College for her secondary education. In 1998, she transferred to Vivian Fowler Memorial College for Girls, where she concluded her secondary education.
She proceeded to the University of Massachusetts, Boston, USA, where she obtained a Bachelor of Arts degree in International Relations, and later, a Master of Science degree in Leadership from the Northeastern University, also in Boston.
In January, 2021, Abumet Nigeria Limited announced her appointment as Chairman of its Board of Directors. Abumet Nigeria Limited maintains worldwide partnerships with reputable manufactures and maintains a state-of-the-art production facility, located in FCT Abuja, fully equipped with cutting-edge machinery and technology.
Abumet is a subsidiary of Julius Berger Nigeria Plc, and a leading solutions provider for the planning, processing and installation of aluminium and glass products, from single standard windows to sophisticated facades and large-scale design masterpieces. She replaced Alhaji Bamanga Tukur, upon his resignation from the board. Bella is a Member of the Chartered Institute of Management of Nigeria (MNIM) and the Institute of Directors of Nigeria (MIOD).
In addition to her French National Honour if Chevalier dans l’ordre des Arts et des Lettres (“CAL”), and currently the Executive Vice- Chairman of Globacom Limited, she is also the Chief Executive Officer of Cobblestone Properties & Estates Limited, and a Director on the Board of Mike Adenuga Centre.
In less than four years of her leadership, Abumet’s profits, according to Billionaire Africa, surged 307% in 2024, marking a major turnaround from losses in 2021.
The paper reported of her exploits as follows: “As a Non-Executive Director, she helped boost Julius Berger’s revenue to N566.2 billion, pushing it into Nigeria’s top 50 listed firms.
“At Abumet, Disu is driving innovation in façade technology, deploying unitized curtain walls for improved insulation and energy efficiency in Nigeria’s construction sector.
“Nigerian business executive Bella Disu has led Abumet Nigeria Limited, an innovative glass and aluminum manufacturing company, to record-breaking earnings, with profits quadrupling at the end of the 2024 fiscal year. Her leadership has not only steered the company back to profitability but has also reinforced the business acumen that runs deep in the Adenuga family.
“In a LinkedIn post, Disu, who has served as chairman of Abumet since 2021, shared the company’s turnaround: “Abumet is reaching new heights, and I’m excited to share our latest achievements. I am especially proud of the remarkable turnaround we’ve achieved—transforming from a loss in 2021 to delivering a 307 percent increase in profit in 2024.
“At just 38, Disu has earned her place among Africa’s top executives under 40, proving her ability to drive business success while steadily stepping into the legacy of her father, billionaire Mike Adenuga, who ranks among the continent’s wealthiest individuals with a fortune of $6.8 billion. She took over as chairman of Abumet’s Board of Directors in January 2021, succeeding Bamanga Tukur at a time when the company was struggling with steep losses.
“Since then, Disu has orchestrated one of the most impressive corporate recoveries in Nigeria’s manufacturing sector. Under her leadership, Abumet returned to profitability by the end of the 2022 fiscal year, bouncing back from the impact of COVID-19 and the financial challenges of 2021. The company sustained its profit in 2023 before posting a fourfold increase in 2024.
“Reflecting on this achievement, Disu credited the success to strong leadership and teamwork: “This success is the result of strategic leadership at the Board level, the dedication of our management team, and the collective effort of every Abumet employee.”
“Bella Disu expands Abumet’s market reach
As a 90-percent subsidiary of Julius Berger Nigeria Plc, Abumet plays a key role in the construction giant’s success. Bella Disu, who also serves as a Non-Executive Director at Julius Berger, has played a ‘much more’ active role in driving growth in the building solutions sector. By the end of the 2024 fiscal year, Julius Berger’s revenue rose from N446.1 billion ($296.4 million) in 2023 to N566.2 billion ($376.2 million) in 2024.
“Profit after tax also increased from N12.74 billion ($8.5 million) to N14.97 billion ($10 million), boosting the company’s market capitalization on the Nigerian Exchange (NGX) to N202.1 billion ($134.3 million). This has placed Julius Berger among Nigeria’s top 50 publicly listed firms, ranking 35th on the NGX.
“Under Disu’s leadership, Abumet has strengthened its market position by expanding its sales and marketing efforts. The launch of its Lagos sales office has helped grow its market share for made-in-Nigeria window and door solutions, while its EVONIGGLASS insulated glass brand has gained wider recognition. Despite market challenges, the company has posted record-high revenue and profits, exceeding expectations.
Abumet deploys energy-efficient curtain walls
Looking ahead, Disu is focused on pushing innovation in advanced façade solutions, leading Abumet’s efforts in glass and aluminum manufacturing.
“Abumet is deploying unitized curtain walls that will completely envelop the façade, ensuring not just aesthetic excellence but also enhanced energy efficiency through modern insulation technologies,” she said.
With a strong record of turning businesses around and driving growth, Disu is cementing her leadership in Nigeria’s business world. Her influence now extends beyond construction, telecommunications, and real estate into the country’s broader manufacturing sector, where she continues to make a lasting impact.”
Bella’s trajectory in the world of enterprise is a clear case of the demystification of the proverbial a tree cannot make a forest’, as she has conscientiously turned tables around wherever she found herself, bring in new ideas, new innovations and structural discipline that completely overhauls a system for all the positive outcomes.
Hers, is a case of continuous rise in the business world, and the home front. She is a better definition of a virtuous woman, and at less than 40 in age, the sky holds no barrier to how much more Belinda Ajoke Olubunmi Disu nee Adenuga could achieve in the coming months.
Congratulations ma!
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Nigeria’s Who’s Who Joins Otedola to Turn Sod for FirstBank’s 43-Storey New Headquarters
Published
1 week agoon
March 6, 2025By
Eric




“The groundbreaking ceremony signifies the beginning of a transformative journey that reinforces FirstBank’s commitment to excellence, innovation, and customer satisfaction.
“We are proud to mark this significant milestone in our journey towards excellence. Our new Head Office is envisioned as a world-class structure that represents our dedication to innovation, customer satisfaction, and sustainability.
“We believe that this development will play a crucial role in fostering economic growth and development across Africa, creating long-term value for all our stakeholders,” Alebiosu said.
The statement by the bank further revealed that the new headquarters is designed with sustainability in mind, featuring a green-certified building that reduces operational costs, and positions the bank as a leader in sustainable banking practices.
In his welcome address however, Alebiosu said that “The groundbreaking ceremony is a momentous occasion for us to redefine our commitment to position solidly as the bank for the future. Therefore, this new headquarters is not just about a modern architectural masterpiece; it is reimagining banking for generations yet unborn. It will serve as a hub for financial innovation, digital transformation, and operational excellence, ensuring that FirstBank remains ahead in an era where technology is reshaping activities.
“Situated in the heart of Eko Atlantic City, the iconic FirstBank headquarters complex, a 43-story edifice, will become the tallest building in Nigeria upon its completion.”
In his speech, the chief host, who is also the Chairman FirstHoldCo, Mr. Femi Otedola, praised the resilience of his FirstBank team, the Chagoury brothers for ‘creating land’ for Nigerians, stakeholders and the banking community, who have supported the FirstBank brand in 131 years of existence.
He noted that the gathering highlights the importance of collaboration and support from various sectors in bringing ambitious plans for the new headquarters to life.
“I appreciate the CBN for its efforts in sustaining the stability of the Nigerian financial services industry. I commend the Chagoury Group for their commitment to the infrastructural growth of the Nigerian economy. Worthy of note is that Chagoury has always been an inspiration and business model to me. I have personally felt that the creation of Eko Atlantic City is the ninth wonder of the world, coming after the eighth wonder, which is the Dangote Petrochemical City. These two wonders continue to reaffirm that Nigeria is indeed a great nation.
“To our customers and stakeholders of the bank, we must constantly be reminded that FirstBank is and will continue to be a legacy to behold. We shall continue to invest in cutting-edge technology, vibrant human capital, strategic partnerships, and customer-centric innovation that will define banking globally even as we detail our footprint across Nigeria, Africa, and the world. Thank you all for being a part of our rich heritage as we unveil this iconic building that will serve as the engine room of the bank’s next phase of dominance in the financial services sector and efforts to contribute our quota to the financial inclusion,” Otedola said.
The gathering was boosted by goodwill messages from stakeholders present including governors Sanwo-Olu, Abiodun and Aiyedatiwa. Other goodwill messages were delivered by Senator Danjuma, Mr Folawiyo, Alhaji Dangote, Mr. Adeleke and others.
In his charge, Sanwo-Olu ssaid, “First Bank, as usual, has led the way. I want to thank the visionaries who created a new city that will be Africa’s model city that all of us will be proud of. Mr. Femi Otedola, well done, well done to your board, well done to your management, and CBN Governor, thank you for the approval. We want you to give other financial institutions approval as well. There is space for them as well.”
One of the hallmarks of the event was the presentation of certificate to the FirstBank group by the Governor Sanwo-Olu, on behalf of the Lagos State government, to authorize commencement of construction.
In his keynote address however, the special guest of honour, President Bola Tinubu, who was represented by Vice President Kashim Shettima, lauded the building as representing and symbolising Nigeria’s ambition and progress.
“Today we lay the foundation for a monumental structure in Nigeria’s financial landscape, the First Bank iconic tower, a symbol of our nation’s progress and ambition. This tower will stand as a testament to our economic strength and vitality. The tower, which will be the tallest building in West Africa at 40 stories upon completion, is a symbol of confidence in our country’s future. For 130 years, FirstBank has been a pillar of our economy, empowering businesses, supporting families, and driving financial innovation. FirstBank has extended its reach from Lagos to London and all around major financial centres worldwide, proudly flying Nigeria’s flag on the global stage.
tower will symbolise ambition and excellence in Eko Atlantic, an investment that consolidates Lagos as a leading financial hub and showcases the dynamism of Nigeria’s private sector.
“As president, I reaffirm our unwavering commitment to fostering an environment where significant investment and transformative projects like this can thrive through bold economic reforms, strategic public-private partnerships, and infrastructure development. We are ensuring that Nigeria once again becomes the top destination for investment,” Shettima said on behalf of President Tinubu.
The event of the day was concluded with the turning of the sod to signify commencement of building activities for the 43-storey ambitious project, which will change the landscape of the Eko Atlantic City, banking industry and architectural intelligence.
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Olusegun Obasanjo: Celebrating Africa’s Influential Leader at 88
Published
2 weeks agoon
March 4, 2025By
Eric

By Eric Elezuo
Chief Olusegun Obasanjo, arguably, is the most influential African alive. He would have been the second most influential if the Madiba Nelson Mandele still lives.
Obasanjo has transcended generations of greatness ever since he joined the army as a career soldier, fighting in the Nigeria/Biafra Civil War before testing political power as the Chief of Staff Supreme Headquarters to the then Head of State, General Murtala Mohammed, and then becoming the Head of State in 1976 following the assassination of General Mohammed. He was in charge between 1976 and 1979 when he handed over to Alhaji Shehu Shagari.
Obasanjo has been described as one of the great figures of the second generation of post-colonial African leaders, and has received praise both for overseeing Nigeria’s transition to representative democracy in the 1970s and for his Pan-African efforts to encourage cooperation across the continent. He however, remains the most senior in Nigeria’s political leadership, behind General Yakubu Gowon.
A two-terms civilian president and former military head of state, Olusegun Obasanjo, has celebrated his 88th birthday, looking fit as a fiddle, and throwing banters among protégé, associates and leaders of thought, whobare his mentees.
As usual, Obasanjo’s birthday celebration was multi-faceted, and like every other year, accommodated praises and worship, get-together and sumptuous dinner among others, thereby igniting the Obasanjo Farm home of the former leader, located in Abeokuta, Ogun State, and the awesome The Delborough in Victoria Island, Lagos.
The birthday celebrations kickstarted with a special Global Breakfast Prayer session, which was in its 61st edition, on Saturday, March 1, 2025. It was a time of spiritual renewal and upliftment with representatives from about 29 countries in attendance both on ground and virtually.
The prayer session was facilitated by the Chairman of Christian Association of Nigeria, South West Zone, Bishop T. Akin-Akinsanya, and moderated by Rev. (Engr.) A. Ojeshina, with prayer and worship sessionsed by the Gatekeepers Worship Team.
Much as it was a spiritual exercise, the aura of greatness Obasanjo is known for was visible as ministers of God from different nations participated in the prayers, reflecting Chief Obasanjo’s far-reaching influence and the deep respect he commands across the globe, and well as the awesome glory to God for sparing his life for 88 eventful years.
Everyone, who was given an opportunity to share his thoughts about the African leader spoke glowingly, acknowledging Obasanjo’s role in fostering diplomacy, African development, and visionary leadership. Notable among these ministers that attended were Ven. O. Ogunremi from Kenya, Pastor M. Nwanegbo from Belgium, Bishop Francis Wale Oke, Bishop E. Adekunle, Rev. Mother Esther Ajayi, Apostle M. Oluwajoba from the United States of America, Dr. Juliet Hammond from the United Kingdom, and Bishop David Bakare.
The following day, the party shifted to Chief Stanley Ugochukwu’s The Delborough on Victoria Island where the creme de la creme of the society gathered to fete the octogenarian. They young entrepreneur was also present at the event.
Dignitaries at the dinner included former President Goodluck Jonathan, former Vice President Atiku Abubakar, former Senate President, Bukola Saraki, former President of Sierra Leone, Ernest Koroma, Anambra State Governor, Chukwuma Soludo and Ooni of Ife, Oba Enitan Adeyeye Ogunwusi.
The event also drew an impressive lineup of business heavyweights, including Chairman of Ovation Media Group, Chief Dele Momodu; the CEO of Air Peace, Dr. Allen Onyema; E-Money and his brother, Kcee, and Obi Cubana, Cubana Chief Priest and renowned entrepreneur, Chief Rasaq Okoya.
The occasion underscored Obasanjo’s lasting influence in Africa, especially Nigeria’s political and economic landscape. Dignitaries, who took turns to extol the respected leader, harped on his leadership, contributions to national development, and his roles as a statesman.
Beyond speaches on the night, the event created an atmosphere of conviviality, camaraderie, networking and catching up, as distinguished guests shared fond memories, banters and experiences of working with the elder statesman. The birthday proper is scheduled for March 5.
It would be recalled that in 2024 in commemoration of the 87th birthday, Obasanjo unveiled a new book, titled: “The Art of Leading: Unconventional Wisdom from Biblical Leaders.”
In his tribute to the former president, Atiku took to his X account to share moments from the occasion, and expressed appreciation for Obasanjo, who is his former boss, and described the gathering as a momentous celebration.
“I joined others at the dinner hosted by my former boss, former President Olusegun Obasanjo, at The Delborough Hotel, Victoria Island, in Lagos,” he wrote.
Born on March 5, 1937, in Abeokuta, Obasanjo, who is arguably Nigeria and Africa’s biggest political brand, served as President of Nigeria from 1999 to 2007, during which time he played an instrumental role in bringing democracy back to the Nigeria.
His political and economic sagacity within the period has remained a reference point for subsequent administrations both in Nigeria and the African continent.
He was Chairperson of the African Union from July 2004 to January 2006, and was inducted by the UN as Special Envoy for Africa in 2008. Since then, he has overseen elections in countries across the African continent on behalf of the African Union and ECOWAS.
A man, who draws accolades, and sometimes criticisms as result of his fearless position on issues of both continental, regional and national importance, Obasanjo has received praise both for overseeing Nigeria’s transition to representative democracy in the 1970s and for his Pan-African efforts to encourage cooperation across the continent.
The Wikipedia captures Obasanjo’s personal life as follows:
Ethnically, Obasanjo is Yoruba, a cultural identification he reflected in his speech and choice of clothing. However, he always foregrounded his Nigerian identity above his Yoruba one, repeatedly stating that “I am a Nigerian who happens to be a Yoruba man. I am not a Yoruba man who happens to be a Nigerian.”
Throughout his life he expressed a preference for rural over urban life. He has been a lifelong teetotaller. He has been characterised as having a sense of discipline and duty, and emphasised what he saw as the importance of leadership. He was meticulous at planning, and Iliffe called him an “instinctively cautious man”. Obasanjo always emphasised the importance of deferring to seniority, a value he had learned in childhood. Iliffe described Obasanjo as a man with “great physical and intellectual energy” who “exercised power with skill and ruthlessness, sometimes unscrupulously but seldom cruelly”. Derfler similarly stated that, although Obasanjo could appear “boorish and dull”, he had a “sharply perceptive mind” and the capacity to be “tough and ruthless”. He had, according to Iliffe, a “remarkable capacity for work”. He was cautious with money, living modestly and seeking financial security by investing in property. He is softly-spoken.
In his sixties, Obasanjo would regularly work 18 to 20 hour days, getting very little sleep. He would start each day with prayers. Obasanjo suffers from diabetes and high blood-pressure. He enjoyed playing squash.
Obasanjo’s writings after his imprisonment reflected his commitment to Biblical literalism. He called the Darwinian theory of evolution a “debasing, devaluing and dehumanising” idea. After his release from prison his writings placed far less emphasis on traditional culture as a guide to morality, calling on fellow Nigerians to reject much of their pre-Christian “way of life”. Iliffe noted that Obasanjo’s born-again Christianity was “strikingly orthodox” and was aligned with Orthodox Pentecostal teaching. He rejected the prosperity gospel that was taught by some Pentecostalists in Nigeria.
Providentialism also became a key part of his worldview after his imprisonment.
In addition to a variety of other chieftaincy titles, Chief Obasanjo is the holder of the title of the Olori Omo Ilu of Ibogun-Olaogun.
A prolific writer and author of many books, Obasanjo is not a stranger to awards and honours as he has them in endless list.
A father to many children, including Iyabo Obasanjo, one of his children, Adeboye Obasanjo, took after him, and is presently a Brigadier General in the Nigerian Army.
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