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Reclusive billionaire businessman, Mike Adenuga has made a rare public appearance after being photographed with fellow tycoon, Femi Otedola in Monaco.
Otedola shared the images on Friday via his X handle, @realFemiOtedola, showing the two businessmen posing together outside and inside a luxury hotel in the principality.
“The Chairman of Chairmen is in Monaco… Grand Commander of the Order of the Niger, Commandeur de la Légion d’honneur, Companion of the Order of the Star of Ghana, Michael Adeniyi Agbolade Ishola Adenuga Jr,” Otedola captioned the photos.
The pictures mark a rare sighting of Adenuga, founder of telecommunications giant Globacom and oil company Conoil, who is known for his extremely low public profile despite being one of Nigeria’s most-respected entrepreneurs.
The 73-year-old has no known social media presence and rarely appears at public events or in photographs.
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Forbes estimates Adenuga’s net worth at between $6.5 billion and $6.8 billion, ranking him among Africa’s richest individuals, with his wealth derived mainly from telecoms and oil.
Otedola, Chairman of FirstHoldCo Plc, parent company of First Bank of Nigeria, maintains a residence in Monaco and is a more public-facing figure. He has previously hosted other Nigerian business leaders in the principality, including Aliko Dangote earlier this year.
Otedola, whose fortune has risen sharply in 2026 on the back of his stake in FirstHoldCo, was estimated by Forbes at about $2 billion as of late September.
The two billionaires share a longstanding relationship. In April, Otedola celebrated Adenuga’s 73rd birthday with a tribute recalling how Adenuga had predicted his future success 24 years earlier at a family event in Epe, Lagos.
“True African icon whose vision continues to inspire us all,” Otedola described him at the time.
Monaco, known for its privacy, luxury and favourable tax regime, has become a regular meeting point for Africa’s business elite.
