Folawiyo is the CEO of the Yinka Folawiyo Group, a Nigerian conglomerate with interests in energy, agriculture, oil exploration, insurance and real estate. He’s a major shareholder of MTN Nigeria, the country’s largest mobile telecoms provider, which was recently hit with a $5.2 billion fine for failing to disconnect the lines of more 1 million unregistered mobile phone users in Nigeria. His shares in Access Bank, a Nigerian commercial bank, took a beating since 2014 and the drop in oil prices reduced the value of assets owned by the Folawiyo Group.
Folawiyo doesn’t like being in the limelight, according to NationalMirror. In 2013, he was No. 50 on the Forbes Africa rich list, and in 2014, he was at No. 39. He is the first son of Yinka Folawiyo, the late billionaire, business guru and philanthropist.
Sources: NationalMirror, Forbes