Obi Cubana set to buy nigerian social media app Banter for $1billion
Renowned Nigerian businessman and serial entrepreneur Obi Iyiegbu, popularly known as Obi Cubana, is reportedly in advanced discussions to acquire the fast-growing Nigerian social media platform Banter (banter.ng) for a staggering $1 billion. If finalized, this acquisition would mark one of the biggest tech deals in Nigeria’s digital space and further expand Cubana’s already vast business empire.
Who is Obi Cubana?
Obi Cubana, whose real name is Obinna Iyiegbu, is a billionaire entrepreneur, investor, and philanthropist with a diverse portfolio spanning hospitality, real estate, manufacturing, and entertainment. He is the founder of the Cubana Group, which includes luxury lounges, hotels, and event centers across Nigeria. His ventures include:
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Cubana Lounge (high-end nightlife spots in major cities)
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Cubana Hotels & Suites (luxury hospitality)
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Obi Cubana Farms (agribusiness)
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Enviable Royal Furniture (luxury furniture manufacturing)
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Erisco Foods (investment stake)
Known for his flamboyant lifestyle and strategic investments, Cubana has been actively diversifying his portfolio, particularly in the tech sector. Acquiring Banter would position him as a major player in Nigeria’s digital economy.
Why Banter?
Banter is a rapidly growing Nigerian social media platform designed to foster engaging discussions, content sharing, and networking. With its user-friendly interface and increasing popularity among Nigerian youth, the app has been gaining traction as a homegrown alternative to global platforms like Twitter and Instagram.
Sources close to the negotiations reveal that Cubana sees Banter as a key addition to his business ventures, aligning with his vision of promoting indigenous brands while tapping into Africa’s booming digital market. The $1 billion valuation suggests strong confidence in Banter’s potential to scale both locally and internationally.
What’s Next?
While talks are still ongoing, insiders suggest that the deal could be finalized in the coming weeks. If successful, this acquisition would not only solidify Obi Cubana’s status as one of Nigeria’s most influential businessmen but also signal a major shift in Africa’s tech investment landscape.
As the digital space continues to evolve, all eyes are on Obi Cubana and Banter—will this be the next big move in Nigeria’s tech revolution?
Stay tuned for updates on this developing story.
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