News Makers

Forbes-listed rich man is debtor

The Central Bank of Nigeria (CBN) yesterday published a list of high-profile debtors of the five ailing banks whose management were sacked last week.

In a published advertisement yesterday, the CBN said billionaire tycoon Aliko Dangote, rated by US Forbes magazine as one of the world's richest Africans, was among the debtors. The CBN said Dangote had a non-performing loan of 2.5 billion naira (about $1.57 million) in Ocean Bank through his Dangote group of businesses. The 52-year-old owner of the Dangote consortium was recently unanimously elected president of the Nigeria Stock Exchange.