7 Silent Nigerian Billionaires Who Keep Their Massive Wealth On A Low Key

1. Chief Ade Ojo. Source of wealth – Car Dealership

Chief Michael Ade Ojo was born on June 14, 1938 and was one of the pioneer students of the University of Nigeria, Nsukka where he graduated from with a degree in Business Administration in 1965. In 1975, he cofounded Elizade Independent Agencies, with his late wife, Chief (Mrs.) Elizabeth Wuraola Ojo.

The name originated from the first four letters of his wife’s name “Eliz” as well as the first three letters of his own name “Ade.” Today, the company has grown into ELIZADE Group of Company with as much as seven subsidiaries. He is also solely involved in the construction of a polytechnic; Elizade Polytechnic, Ilara Mokin which is aimed at giving the average Nigerian child quality education

2. Jim Ovia. Source of wealth – Banking

Mr. Jim Ovia was a co-founder of Zenith Bank Plc and he served as its Group Managing Director and Chief Executive Officer for 10 years. In July this year he returned as chairman of Zenith Bank Group and he remains the bank’s largest individual shareholder with a 9.3% stake.

He is also the founder of Visafone Communications Limited and in August 2014, he started construction on a $1.5 billion petrochemical complex in Akwa-Ibom in Nigeria. He is a holder the Member of the Order of Federal Republic (MFR)

3. Pascal Dozie. Source of wealth – Banking, Telecoms

Pascal Dozie was born to a country court interpreter in Owerri Imo state on April 9, 1939. He established Diamond Bank which commenced operations in 1991 and the multi-billionaire has once revealed in an interview that the first customer was his wife.

He pioneered electronic transfers in Nigeria to enable traders transfer their cash easily without having to carry it around. The real source of his wealth came when a South African cellphone company, MTN partnered with him to setup a cellphone network in the Nigerian market.

Taking the huge risk at the time, he raised the necessary funds with MTN completing the rest and today Nigerians can attest to the success of MTN Nigeria. He is currently Chairman of MTN Nigeria and is a founding partner of Africa Capital Alliance, the first Nigerian private equity fund manager.

4. Leo Stan Ekeh. Source of wealth – Computing

The chairperson of Zinox Technologies Limited, Leonard Stanley Nnamdi Ekeh was born on February 22, 1956 in Ubomiri Mbaitoli of Imo State. He is fondly referred to as Bill Gates of Nigeria because of his exploits in the field of information technology.

The astute business man used his school fess to start his business several years ago, a decision which made him miss sitting for his LLM in Business Law which he spent more than a year to prepare for.  He started Task Systems Ltd, which is now one of the companies under the Zinox Group.

In addition to Zinox, he has been involved with companies like ICT Brokers, TD Plus, ICT Connect and Buyright AFRICA Dotcom. He is also behind the fast growing e-commerce site, Yudala.

5. Prince Samuel Adedoyin. Source of wealth – Manufacturing, others

Samuel Adedoyin is a Kwara born businessman and the founder of Doyin Group of Companies. The Doyin Group of companies is a conglomerate that is wholly indigenous comprising of 15 subsidiaries.

He started out as a small trading business before growing into a conglomerate. The group’s business interests spans manufacturing, real estate, banking, hospitality and energy.

6. Oba Otudeko. Source of wealth – Manufacturing

Oba Otudeko is the founder and chairman of Honeywell Group as well as the chairman of Airtel Nigeria, and Fan Milk of Nigeria. He was born on the 18th of August, 1943 and he is one of Nigeria’s most successful investor and entrepreneur.

He retired as the Chairman of First Bank of Nigeria Plc after 12 years on the Board of the Bank. Between September 2006 and August 2009, he was the 16th President and Chairman of Council of the Nigerian Stock Exchange. His conglomerate’s operations stretch across oil and gas, flour milling, real estate and marine transportation.

7. Fola Adeola. Source of wealth – Banking 

Tajudeen Afolabi Adeola is a businessman and politician and he alongside Tayo Aderinokun established Guaranty Trust Bank in 1990 which he managed as director/CEO up till July 2002. The bank became listed on the Nigerian Stock Exchange in 1996.

He retired from the bank in 2002 after twelve years. He is a member of the Commission for Africa, the founder and chairman of the FATE Foundation a non-governmental organisation which aims to encourage entrepreneurship through trainings, mentoring, loan support and consulting to support young Nigerians.