Has Nigeria’s Tech Industry Created 10 People with a Net Worth of $100M+?

[Gigabyte Computer Solutions]

Nigeria’s tech sector has become a powerhouse of innovation and wealth creation, reshaping the nation’s economy and producing a new wave of affluent entrepreneurs.

Nigeria’s Tech Trailblazers
Olugbenga Agboola (GB) – CEO of Flutterwave

Olugbenga Agboola, popularly known as GB, is the driving force behind Flutterwave, a fintech giant facilitating payments across Africa and beyond. By 2022, Flutterwave’s valuation soared past $3 billion, with the company processing over 630 million transactions worth more than $31 billion. GB’s leadership and equity in this unicorn strongly suggest his net worth exceeds $100 million.

Tosin Eniolorunda – CEO of Moniepoint
Tosin Eniolorunda co-founded Moniepoint (formerly TeamApt), a fintech platform transforming banking and payment solutions. As of mid-2023, Moniepoint was processing around $10 billion in monthly transactions, up from $500 million in 2021. With significant funding and explosive growth, Tosin’s wealth is likely well above the $100 million mark.

Mitchell Elegbe – CEO of Interswitch

Mitchell Elegbe who founded and leads this digital payments pioneer. Interswitch became Nigeria’s first tech unicorn in 2019, valued at over $1 billion. Elegbe’s long tenure and the company’s dominance point to a net worth comfortably exceeding $100 million.

Austin Okere – Chairman of CWG, ALA, and a Bank
Austin Okere founded Computer Warehouse Group (CWG), a major IT solutions provider in Africa. His roles also span ALA and a banking institution, reflecting his broad influence. CWG’s success and Okere’s diversified ventures make it plausible that his net worth surpasses $100 million.

Funke Opeke – Founder of MainOne
Funke Opeke established MainOne, delivering vital undersea cable infrastructure that revolutionized internet access in West Africa. When MainOne was acquired by Equinix in 2021 for a reported $1 billion, Opeke’s stake and legacy cemented her as a tech titan, likely with a net worth topping $100 million.

Somto Ifezue – CEO of PiggyVest
Somto Ifezue co-founded PiggyVest, a savings and investment app launched in 2016 that now boasts millions of users and $79.5 million in funding. While exact figures for Somto’s wealth are private, PiggyVest’s meteoric rise suggests he’s either nearing or has crossed the $100 million threshold.

Leo Stan Ekeh – Owner of Konga and Zinox Computers
Leo Stan Ekeh, a tech industry veteran, founded Zinox Technologies, Nigeria’s first certified computer brand, and later acquired Konga, a top e-commerce platform. With an estimated net worth of $1.2 billion in early 2025, Ekeh far exceeds the $100 million benchmark, making him one of Nigeria’s richest tech moguls.

Tayo Oviosu – Founder and CEO of Paga
Tayo Oviosu launched Paga in 2009, building a mobile money service that now serves millions. With over $34 million raised and a vast customer base, Paga’s scale implies Oviosu’s net worth is either approaching or has surpassed $100 million.

Babs Ogundeyi – CEO of Kuda
Babs Ogundeyi heads Kuda, a digital bank disrupting traditional finance with its no-fee model. With over 5 million users and $90 million in funding, Kuda’s trajectory hints that Ogundeyi’s personal wealth could be in the $100 million range as the company continues to grow.

Could There Be a Tenth?
Odunayo Eweniyi, co-founder of PiggyVest with Somto, shares in that company’s success and could push the count to ten. Alternatively, Iyinoluwa Aboyeji, a serial entrepreneur who co-founded Andela and played a key role in Flutterwave’s early days, is another strong candidate. His track record with unicorns suggests a net worth potentially exceeding $100 million.

The Tech Wealth Phenomenon in Nigeria
Pinpointing exact net worths is challenging due to the private nature of many tech companies and limited public financial disclosures. Unlike traditional sectors like oil or real estate, tech wealth often hinges on company valuations, equity stakes, and funding rounds rather than liquid assets. Still, the achievements of these nine—plus potential additions like Eweniyi or Aboyeji—demonstrate that Nigeria’s tech industry has likely produced at least 10 individuals with net worths of $100 million or more.

Conclusion
Nigeria’s tech boom has not only transformed how business is done but also who holds the nation’s wealth. From fintech to e-commerce and infrastructure, these entrepreneurs have harnessed technology to build empires, many valued in the billions. While the original question aimed for a list of 10, the evidence suggests that Nigeria’s tech ecosystem has already surpassed this milestone, heralding a new era of prosperity driven by innovation.

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