5 Richest Igbo Men in Lagos
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African CEOs - April 19, 2023

5 Richest Igbo Men in Lagos

The Igbo people are known for their entrepreneurial spirit and business acumen, and this is reflected in the number of successful Igbo businessmen and entrepreneurs based in Lagos.

No doubt, Lagos is home to some of the wealthiest individuals in Africa, and the Igbo community has played a significant role in the economic development of the city. These Igbo men have made their mark on the Nigerian business landscape, and their stories serve as an inspiration to many aspiring entrepreneurs. So, without further ado, let us dive into the world of the five richest Igbo men in Lagos.

Tony Elumelu

Tony Elumelu is a businessman and philanthropist of Igbo descent who owns a controlling interest in Transcorp, a publicly traded Nigerian conglomerate with interests in hospitality, agriculture, oil production and power generation. He became popular in 1997 when he led a small group of investors to take over a small, floundering commercial bank in Lagos.

Elumelu turned the commercial bank into a profitable venture and later merged it with the United Bank of Africa in 2005. He is the founder of Heirs Holdings, an investment firm that focuses on the development of Africa’s economy. Elumelu said, I started my career as a salesman, a copier salesman to be specific, young, hungry, and hardworking, but the reality was that I was just one of the thousands of young Nigerian graduates, all eager to succeed.“

The Nigerian business mogul founded The Tony Elumelu Foundation in 2010. The foundation is committed to creating 10,000 entrepreneurs across Africa over the next 10 years through the Tony Elumelu Foundation Entrepreneurship Programme. 

ABC Orjiako

Ambrose Bryant Chukwuemeka Orjiako is the chairman and co-founder of SEPLAT, a leading Nigerian independent oil and gas company listed on the London and Nigerian stock exchanges. Before venturing into business, he trained as General Surgeon at the Lagos University Teaching Hospital, Lagos. Reports say he worked in various companies in the upstream, downstream and service sectors of the oil and gas industry in the country.

His company, Shebah Exploration and Production Company and Platform Petroleum Limited co-founded SEPLAT in 2009. Orjiako who hails from Anambra State, Nigeria, has led his company to record massive growth in oil and gas production which has earned global recognition, including the fact that SEPLAT produces over 8,000 barrels of crude oil per day and owns up to 40% of the offshore block.

Orjiako is also the chairman of Zebbra Energy Limited, the CEO of Ordec Group, Helko Marine Services and Shebah Exploration and Production Co. Ltd. Mentioned as a silent multi-millionaire, Orjiako reportedly has investments in other sectors like real estate, banking, and the pharmaceutical industry.

Leo Stan Ekeh

Leo Stan Ekeh is the founder of Zinox Technologies Limited, Africa’s most integrated ICT firm. At the launch of Zinox Technologies, the Nigerian serial digital entrepreneur ensured that Zinox Computers already had the WHQL certification, the first in sub-Saharan Africa. It was later consolidated with the attainment of the NIS ISO 2000: 9001 QMS Certification.

Ekeh was honoured with the Forbes Best of Africa Leading Tech Icon Award in 2021 for pioneering entrepreneurship in the Information and Communications Technology (ICT) space in Africa. Ekeh’s Zinox boasts the first and only computerized digital assembly plant in West Africa with a daily production capacity of over 5,000 units installed in Gbagada Industrial Estate, Lagos.

Cosmas Maduka

Cosmas Maduka is the founder and CEO of Coscharis Group, a conglomerate with interests in automobile sales and services, agriculture, and real estate. From almost zero capital, Maduka built his business from scratch into a conglomerate. He once said,” In every difficult situation, an entrepreneur knows his destiny is not in the hands of his state but in his own hands so he creates his own opportunities.”

Maduka who hails from Anambra, Nigeria, found his way to greatness when he joined his uncle in selling motorcycle parts, as an apprentice. A few years later, his uncle dismissed him with just 200 Naira. He took advantage of the relationship he built with all the major automobile wholesalers at that time and established his company. 

Coscharis Motors is a leading distributor of several brands of luxury cars including Range Rover, Ford, and Jaguar. He seats on the board of several reputable companies and organizations and was featured in Forbes Africa TV Series “Worst Day with Peace Hyde.” Coscharis Group is headquartered in Awoyaya, Lekki, Lagos Nigeria.

Pascal Dozie

Pascal Dozie is the founder of the Diamond Bank, a commercial bank that was acquired by Access Bank in 2019. Before Diamond, Dozie founded the Africa Development Consulting Group (ADCG), where he spent long hours conducting marketing research/surveys for clients like Nestle and Pfizer.

Pascal who was Chairman of MTN Group reportedly owns shares in the company. He is a recipient of the National Award of the Order of the Niger (OON), and Commander of the Order of the Niger (CON). Dozie was also featured in Forbes Africa Magazine where he talked about succession and the next generation as sons start taking reigns from fathers. 

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