8 Richest Men In Nnewi (2023)

Forbes Africa stated that the first billionaire Nigeria ever had was Louis Odumegwu Ojukwu who hailed from Nnewi, Anambra State. Chukuemeka Ojukwu, who was his biological son and that had led Biafra to a civil war in the country, was another billionaire from Nnewi.

Our findings and research have shown to us that Chief Innocent Chukwuma is the current richest man in Nnewi and one of the wealthiest in Anambra.

Richest Men in Nnewi

1. Cosmas Maduka

Nnewi is so blessed with so many business tycoons. Mr. Cosmas is yet another business tycoon who has a net worth of over 900 million dollars and is currently the richest man in Nnewi. Mr. Cosmas is the sole owner of Coscharis group located in Nigeria. What do you know about the group or what does this group offer?

Well, it is a group that combines so many fruitful organizations. Shockingly, he also owns the Coscharis motor which in turn, is a license holder to so many car brands in Nigeria. These car brands include Range Rover, Rolls Royce, Jaguar, BMW, and Ford.

In terms of his educational background, he could not further his education at some point. There was even a time in his life he had to drop out of school to sell Akara in the market. (Akara is another word for bean cake).

An amazing report coming from Forbes stated that Mr. Cosmas was the one who turned 1 dollar to 500 million dollars. Finally, he is known to be a very committed Christian who goes to the Redeem church every Sunday.

2. Ifeanyi Ubah

Another wealthy billionaire you can find in Nnewi is the popular Ifeanyi Ubah. Even if you have not come across him in person, you should have come across his football club. Yes, that’s right! He owns a football club in Nnewi.

Mr. Ifeanyi Ubah is not only involved in sports but also oil and politics. As a matter of fact, he is the chief executive officer of Capital oil. If you make research about oil companies in the country, then you should know about Capital oil because it is a very popular company.

In addition to that, Mr. Ifeanyi Ubah currently has the biggest petroleum storage facility in Nigeria. All of his businesses are so broad. If you must also know, he is also in possession of Authority FM and Newspaper. What this indicates is that he is into the broadcasting business too.

Finally, Mr. Ifeanyi Ubah’s current net worth is over 700 million dollars and the second richest man in Nnewi.

3. Cletus Ibeto

Mr. Cletus Ibeto began his career as an apprentice and worked so hard as an automobile spare parts dealer. In the late 80s, he put to an end the importation of lead-acid car batteries in the country. During that same period, he also discovered the Ibeto group.

What does this group offer? Well, it is a corporation or firm or even business that deals in motor products, hospitality, petrochemicals, real estate, cement, and agriculture.

4. Gabriel Chukwuma

You will be surprised to know that Gabriel Chukwuma and Innocent Chukwuma are siblings. Innocent Chukwuma who is currently the richest man in Nnewi is the younger brother of Gabriel Chukwuma. That being said, Mr. Gabriel has so many investments around the country.

He has invested in real estate, sports, and also the hospitality sector.

5. Alexander Chika Okafor

Who is Alexander Chika Okafor and what does he do? Well, he discovered Chicason Industries. Mr. Alexander being the chairman of this industry controls the mining, production, and real estate in two countries. These two countries include Sierra Leone and Nigeria.

6. Augustine IIodibe

Mr. Augustine led the way to the luxury bus transport service that moves from one state to the other. During the civil war held in 1967, Mr. Augustine gave out his full support to the Biafran side by assisting them with lots of vehicles.

He didn’t stop there especially after the civil war; Mr. Augustine established a popular transport otherwise known as Ekene Dili Chukwu transport. After some time, he decided to invest in agriculture and a brewery.

7. Louis Onwugbenu

If you have ever heard about Louis Carter industries, just know that Mr. Louis Onwugbenu is the sole owner. At the time he was growing up, he made sales of spare parts beneath the carter bridge located in Lagos.

After some time, he broadened his horizons by investing in agriculture, producing car batteries, food processing, producing pipe fittings, and real estate.

8. Obiajulu Uzodike

Here is another top wealthy man from Nnewi. Mr. Obiajulu is an alumnus of Harvard Business School. His company otherwise known as Cutix Nigeria became the first company to be listed in NSE (Nigeria Stock Exchange).



Nnewi which is also known as the Japan of Africa is currently where you can discover entrepreneurs, investors, and also numerous automobile spare parts dealers.

A brief history on Chief Innocent Chukwuma

Chief Innocent Ifediaso Chukwuma was born in the year 1961, in Nnewi. He was the last child in the family of Chukwuma Mojekwu. He is well recognized in his hometown because he is an investor and business magnate. As a matter of fact, he is the founder of IVM (Innoson Vehicle Manufacturing).

Looking at how his career began, Chief Innocent started trading in spare parts after concluding his education in 1981. Indigenes of Nnewi all know that spare parts are a very lucrative business especially in the eastern region of the country.

In the year 2013, Chief Innocent became the deputy chairman of the board of Trustees National Coalition for Goodluck Jonathan Presidency by appointment. What was the aim of the group? Well, the group was formed to support or help the election of Goodluck Jonathan, former Nigerian president.

In terms of Chief Innocent Chukwuma awards and honours, he is currently the officer of OFR (Order of the Federal Republic), also, the Enugu Chamber of Commerce Industry, Mines and Agriculture (ECCIMA) recognize him as the most outstanding entrepreneur in the Production sector, and finally, he is the honorary life vice president of NACCIMA, that is, Nigerian Association of Chambers of Commerce Industry, Mines, and Agriculture.

Lest we forget, Chief Innocent Chukwuma’s net worth is estimated at 1 billion dollars.