Nigeria's Second Richest Man Denies Buying Kano Pillars for N1.5 Billion
- BUA Group has dismissed reports linking Chairman Abdul Samad Rabiu with a bid to acquire Kano Pillars
- The company described the widely circulated claims as inaccurate and urged the public to rely on official statements
- The rumoured takeover had generated widespread debate over private investment in Nigerian football
BUA Group has debunked widespread reports claiming its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a majority stake in Nigeria Premier Football League (NPFL) side Kano Pillars.
The company issued a statement on Tuesday, June 30, describing the reports as false after several Nigerian media outlets (not Legit.ng) claimed that Rabiu had offered about $1.1 million (approximately N1.5 billion at the current exchange rate) to purchase a 70 per cent stake in the four-time league champions.
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The speculation had dominated discussions among football fans and sports stakeholders, with many viewing the reported investment as a potential landmark moment for private ownership in Nigerian club football.
Reports claimed Rabiu wanted majority stake
Earlier reports alleged that Abdul Samad Rabiu, ranked as Nigeria's second-richest businessman by Forbes with a net worth of $12.9 billion (N17.8 trillion), had tabled an offer worth about $1.1 million to acquire a controlling 70 per cent shareholding in Kano Pillars.
According to the reports, the Kano State Government would retain the remaining 30 per cent if the proposal received official approval.
The rumoured takeover by Africa's third richest man was also said to align with ongoing efforts by the state government to reposition the former NPFL champions through increased private sector participation and improved financial sustainability.
The claims quickly attracted widespread attention, especially as discussions around reducing government ownership of football clubs continue to gather momentum across the country.
BUA dismisses report
However, BUA Group has now categorically denied the reports.
In a statement released via its verified X account and other social media platforms, the company said neither it nor its chairman had submitted any proposal to acquire shares in Kano Pillars.
"Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club.
"We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu."
The company insisted that no discussions had taken place regarding the club's ownership.
"No such bid has been made, and there has been no engagement with any party on this matter."
BUA also appealed to journalists and members of the public to verify information through its official communication channels.
"We kindly request that this report be disregarded, and we encourage the public and members of the press to rely only on official statements issued through BUA Group's verified channels for accurate information regarding our activities.
"We appreciate the continued interest in BUA Group and thank the public for their understanding."
Rumour sparked football ownership debate
Before the denial, the reported acquisition had reignited conversations about the future ownership model of Nigerian football clubs.
Many sports administrators have repeatedly argued that excessive dependence on state governments has slowed the commercial growth of NPFL clubs.
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Most teams in the domestic league rely heavily on public funding, leaving them vulnerable to changes in government priorities, inconsistent financing and administrative instability.
Football analysts believe greater private investment could improve club management, infrastructure, player welfare and commercial opportunities.
Supporters of the proposal had argued that investors with strong financial backing could help transform Nigerian football through better governance, enhanced marketing strategies and sustainable youth development programmes.
Kano Pillars remain one of Nigeria's biggest clubs
Founded in 1990, Kano Pillars are among the most successful clubs in Nigerian football history.
The Sai Masu Gida enjoyed a golden era between 2012 and 2014, winning three consecutive league titles while consistently representing Nigeria in CAF competitions.
The club is also renowned for its passionate fan base and intimidating atmosphere at the Sani Abacha Stadium in Kano.
However, like many government-owned clubs, Kano Pillars have faced financial and administrative challenges in recent years, leading to inconsistent on-pitch performances.
Only recently, per Daily Trust, Kano State Governor Abba Kabir Yusuf approved the appointment of a new State Sports Commission and a fresh management board for the club as part of broader reforms aimed at restoring its competitiveness.
Tinubu celebrates Enugu Rangers' title success
Legit.ng previously reported that President Bola Ahmed Tinubu congratulated Enugu Rangers after the Flying Antelopes won a record-equalling ninth Nigeria Premier Football League title.
Rangers secured the 2025/26 championship on the final day of the season with a 2-1 victory over Ikorodu City, finishing top of the table with 68 points from 38 matches.
Source: Legit.ng
