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Tony Elumelu, Adeleke missing from Forbes? Here’s why

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A financial expert has explained why some of Africa’s most well-known business figures, including Tony Elumelu and Adedeji Adeleke, do not appear on Forbes’ Billionaire List, despite their companies being worth billions of dollars.

According to Innocent Tino, a self-acclaimed investment banker and communications specialist, a company’s total valuation does not equate to the personal net worth of its largest shareholder.

“People like Tony Elumelu and Adeleke, whose companies are worth billions, are not on the Forbes list because they are just majority shareholders. That doesn’t mean the entire company’s valuation belongs to them,” Tino stated in a Facebook post.

He further clarified that companies like Adeleke’s, valued at $2.5 billion, are owned by multiple investors.

“His share is not up to a billion dollars in that $2.5 billion. But they will mention him as the owner because he has the largest share—even if it isn’t up to a billion dollars,” he added.

Tino emphasised the distinction between personal wealth and corporate valuation, particularly for executives leading publicly traded companies.

“The companies’ worth is not their personal worth. It is called PLC (Public Limited Companies), owned by many,” he explained.

Tony Elumelu, the chairman of Heirs Holdings, Transcorp, and United Bank for Africa (UBA), is widely recognised for his investments and leadership in Africa’s financial sector.

However, according to Forbes’ methodology, his shares in Transcorp and UBA are not enough to place him in the billionaire category when measured in U.S. dollars.

Forbes’ Billionaire List evaluates individuals’ personal net worth, considering only assets directly owned by them, including shares, private businesses, and other holdings, while excluding assets tied to publicly traded companies they do not fully control.


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Tino’s remarks remind us that while these business leaders wield significant influence and control in major corporations, their financial standing on global wealth rankings is dictated by precise valuation methods.


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The shrinking intellectual spaces: Nigerian universities have traded their intellectual minds for ritual and identity (2)

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University graduates

If you walk through the gates of a typical Nigerian university today, you might be forgiven for thinking you have

read more The shrinking intellectual spaces: Nigerian universities have traded their intellectual minds for ritual and identity (2)


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Meet itel A90: The only colorful & durable smartphone you can get for under N100k

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In a world where smartphones are becoming increasingly expensive, the new itel A90 is a breath of fresh air. Combining stunning aesthetics with unbeatable durability and performance, this device proves that you don’t need to spend a fortune to own a phone that’s reliable, stylish, and packed with smart features.

Whether you’re a student, entrepreneur, or everyday user, the itel A90 delivers top-tier value – and it’s available now in Nigeria for under 105,000 Naira.

But affordability is just the beginning. The itel A90 isn’t just another budget phone – it’s a durability beast, a style statement, and a smart companion, all rolled into one. With its vibrant color options – Starlit Black, Space Titanium, Aurora Blue, and Cosmic Green – this smartphone lets you express your personality while enjoying peace of mind, knowing your device is built to last.

Truly Durable Protection That Goes the Distance

The itel A90 redefines ruggedness for its category. Featuring IP54 dust and water resistance, it can confidently tackle splashes, sweat, and dusty environments – perfect for Nigeria’s diverse weather and everyday hustle. The phone also comes with a 24-month warranty guarantee and promises 36 months of lag-free performance, thanks to optimized software and storage technology.

Accidents happen, but the A90 is ready. Each unit comes with a free anti-drop case right in the box, offering extra protection from those unexpected slips and tumbles.

Truly Durable Performance for All Your Needs

Power meets efficiency in the A90. It boasts up to 256GB storage with 12GB extended RAM support via Atom Storage Tech 2.0, making it ideal for multitasking, media consumption, and app use without hiccups. Whether you’re watching movies, working remotely, or scrolling through social media, the 6.6-inch display remains responsive – even with wet or oily hands, a game-changer in hot climates or busy kitchens.

Running on a robust Octa-Core T7100 processor, the itel A90 is equipped to handle your daily tasks effortlessly. Plus, with a 5000mAh big battery and 15W fast charging, you get extended screen time and minimal downtime. The power-saving mode ensures you stay connected when you need it most.


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Truly Easy to Use with Smarter Tech

itel has always believed in making technology accessible and user-friendly, and the A90 is no exception. It includes DTS sound effects for immersive audio, whether you’re on calls, watching videos, or listening to music.

Connectivity and smart usage are further enhanced with Super WiFi 1.0 and Smartlink+, giving you better internet stability even in tricky areas. The AI Voice Assistant 3.9 adds a layer of hands-free convenience, helping you perform tasks on-the-go with just your voice.

Availability and Exclusive Launch Offers

The itel A90 is officially available at itel Home Stores (https://bit.ly/4hzIfmG) nationwide for 89,900 Naira (64+3 GB) and 99,900 Naira (128+4 GB). As a special launch bonus, MTN users who purchase the A90 will enjoy a 50% data bonus for six whole months, making it easier than ever to stay online, stream, and share.

The Smart Choice Under 100,000 Naira

Colorful, capable, and crafted to last, the itel A90 is more than just an affordable smartphone – it’s a lifestyle upgrade. With industry-leading durability, generous specs, and smart features, it sets a new standard for entry-level phones. Whether you’re buying for yourself or as a gift, the itel A90 is a choice you can trust.

itel A90: Truly Durable. Truly Colorful.

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Adamawa govt approves recruitment of 4,000 into civil service

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Ahmadu Umaru Fintiri

In an effort to tackle unemployment and boost economic growth, the Adamawa State Governor, Ahmadu Umaru Fintiri, has approved the

read more Adamawa govt approves recruitment of 4,000 into civil service


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