In a stark illustration of the rising digital risks facing Africa’s wealthiest leaders, hackers have reportedly infiltrated the mobile phones of Aliko Dangote and Femi Otedola, two of the continent’s most powerful business figures.
According to reports by TheCable, the breaches occurred within the last week. Dangote’s device was compromised twice in two days, while Otedola’s phone was accessed once. Insiders say the cybercriminals have made financial demands, though it remains unclear whether the billionaire executives have regained full control of their devices.
The timing is significant. Dangote is currently working to scale up his refinery to a massive 1.4 million barrels per day, while Otedola recently expanded his position in First HoldCo Plc, acquiring 64.87 million shares valued at N2.01 billion.
A High-Profile Friendship Pulled Into a Cyber Crisis
While cyberattacks on wealthy individuals are becoming more frequent, this particular incident draws unusual attention due to the relationship between the two men. Dangote and Otedola, known for publicly calling each other “brothers,” now find themselves targeted almost simultaneously.
“The hackers are asking for money from both men,” a source told TheCable, highlighting the boldness of the attackers.
The coordinated breaches reflect a worrying trend: cybercriminals increasingly view high-net-worth Africans as prime targets for exploitation.
A Window Into the Digital Vulnerabilities of Africa’s Elite
The attack underscores a growing concern within corporate circles, even the wealthiest and most protected leaders are far from immune to cyberthreats.
High-profile individuals face heightened risks because they often carry:
- Strategic business documents
- Direct access to high-value investment platforms
- Confidential communications
- Sensitive negotiation details
- Financial data stored across personal apps and devices
Mobile phones, often treated as private tools, now function as entry points to massive corporate ecosystems. A single successful breach can derail major business plans.
The High-Stakes Impact: More Than Just Ransom
For cybersecurity experts, the ransom itself is only the beginning. The real danger lies in what the attackers might expose or manipulate.
In Dangote’s Case
His refinery expansion, a multibillion-dollar endeavour, could face:
- Delayed timelines
- Exposure of confidential engineering or financing documents
- Competitive interference
- Pressure on corporate negotiations
For Otedola
His growing stake in First HoldCo Plc could become vulnerable to:
- Market manipulation
- Public speculation about strategy leaks
- Misuse of sensitive investment data
Even rumours of compromised information can trigger fluctuations in investor sentiment and stock performance.
Experts Say Wealth Offers No Cybersecurity Immunity
Cybersecurity professionals caution that Africa’s corporate giants must strengthen their digital resilience. Recommended measures include:
- End-to-end encrypted communication channels
- Layered device security systems
- Routine security audits by independent specialists
- Dedicated secure devices for high-risk transactions
- Real-time monitoring for suspicious activity
As cybercriminals evolve, so must the defences of the region’s top executives.
This latest breach sends a clear message: in today’s digital world, influence and wealth don’t guarantee protection, they increase the target size.
