TEN ANCIENT BILLIONAIRES IN NIGERIA


9. Joshua Ade Tuyo
He was portrayed as Nigeria’s most pre-eminent baker in the mid-1960s. According to Times magazine, he was running a business that would have “first priority in people’s spending.”
“The firm’s unusual name – De Facto Works Ltd. – was shrewdly chosen by Tuyo to impress Nigerian bankers with the fact that he was seriously in business,” it said.
Trained as a teacher, Tuyo left the profession to work for 24 years in the Nigerian Railway Corporation, the British Bank of West Africa and the Ministry of Commerce. He retired in 1953.
The bakery was started by his wife. After his retirement, he took over the catering business. By 1969, his bakery service was the largest in the country.

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