Nigerian Billionaire Abdulsamad Rabiu Becomes $650 Million Richer After Cement Firm Merger

Nigerian cement and sugar tycoon Abdulsamad Rabiu has become at least $650 million richer after merging Kalambaina Cement, a subsidiary company of his BUA Cement, with publicly traded Cement Company of Nigeria (CCNN), where he was the controlling shareholder. On Monday, CCNN announced that it has received approval from the Nigerian Securities and Exchange Commission (SEC) as well as via IFTTT