Most Nigerian billionaires are corrupt – Akinyemi

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A former Minister of External Affairs, Prof. Bolaji Akinyemi, on Saturday said it was not possible for any Nigerian to be a billionaire without being corrupt. Akinyemi stated this in Akure, the Ondo State capital while delivering the second term inauguration lecture of Governor Olusegun Mimiko.

The professor of International Relations and Diplomacy spoke on the topic, ‘Leadership, Democracy, and Development.’ He said at the event chaired by  a former Nigerian High Commissioner to United Kingdom, Dr. Christopher Kolade, that “being a billionaire in Nigeria today without corruption is impossible.”

Akinyemi said, “No one can be a billionaire in Nigeria today without being corrupt. If you are a businessman, you would have evaded tax or other levies like import duties with the active connivance of those in charge.

Check Out Top 21 Richest Nigerian Billionaires

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Very few Nigerians have made the Forbes list of richest people in the world the reason been that Forbes estimates the wealth of individuals and rank them based on the value of shares they have in quoted companies (companies listed on the stock exchange)

The few Nigerians that have the list are Aliko Dangote, Mike Adenuga and Femi Otedola.

The list of top 21 Richest Nigerian billionaires has been based on:

The value of their shares held in quoted companies, the size and market share of their companies, the number of companies they own and its assumed value, the market value of their company’s brand and the impact of their companies on the Nigerian economy.