Nigerian Billionaire Abdul Samad Rabiu Gifts Employees $20.7 Million in Cash Rewards
Nigerian billionaire Abdul Samad Rabiu has awarded $20.7 million in cash gifts to 510 employees of his company, BUA Group.
He gave five senior staff members $690,000 each, amounting to $3.45 million of the total payout.
The remaining $17.25 million was distributed to 505 employees, with each receiving approximately $34,158.
Rabiu, who is the founder and chairman of BUA Group, said the gesture was aimed at appreciating loyalty, dedication, and performance across the organisation.
His company is one of Africa’s largest industrial conglomerates, with major interests in cement production, sugar refining, flour milling, and real estate.
He is also the second richest man in Nigeria with a net worth of $8.5 billion.