Nigeria, Oct. 19 -- Nigerian billionaire investor Tony Elumelu has revealed that he transferred $1 million to Afrinvest West Africa without a written agreement or specified repayment terms after the 2008 global financial crisis, relying solely on his confidence in the company's leadership.

Mr Elumelu, chairman of Heirs Holdings, said the investment had recently been repaid with interest, more than a decade after he extended the financial support to the investment firm during a difficult period.

In a post published on his verified Facebook page on Thursday, Mr Elumelu said he made the unsolicited investment because he believed in the leadership and resilience of Ike Chioke, Afrinvest's group managing director, and his partners.

He said ...