12. Hakeem Belo-Osagie
Net Worth: $600
Rank In Nigeria: #12
Rank In Africa: #41 (#34 in 2013)
Hakeem Belo-Osagie is the chairman of Etisalat Nigeria.
His father was the gynecologist to the family of former Nigerian military president Ibrahim Babangida. Through that connection, he was able to secure a job as a Special Assistant to the Presidential Adviser on petroleum and energy and later as Special Assistant to the Minister of Petroleum and Energy, positions which he admits put him in a position to close on a few oil deals from where he made his first fortune.
In 1998, he acquired a controlling stake in the United Bank For Africa, but was ousted out by the Central Bank in the wake of allegations of fraudulent practices orchestrated by him.
He also owns First Securities Discount House, a money markets and Treasury bill trading and financial services firm in Nigeria.
He is one of the sponsors of a new $120 million shopping mall currently being developed in Jabi Lake in Abuja, Nigeria’s capital.