Mohamed Fouani, the billionaire founder and CEO of the prestigious Founani Group, has been abducted in Lagos.
Mr. Mohamed Fouani is the sole franchise owner of LG and Hisense products in the country, he has played a vital role in the introduction and establishment of these brands in Nigeria for the past 24 years. Moreover, Mr. Fouani’s business acumen is evident in his success with Yara Diapers, which not only operates a factory in Lagos but is also one of Nigeria’s leading diaper brands.
According to reports, Mr. Mohamed Fouani and three other Lebanese individuals were abducted near Falomo Bridge while on their way from Apapa to Victoria Island in Lagos.
The kidnappers, believed to be motivated by financial gain, have demanded a ransom of $1.5 million in US dollars for the release of the billionaire.
The Lagos State Police spokesperson, Benjamin Hundeyin, remained unreachable for comment on the kidnapping of Mr. Mohamed Fouani.
