Mr Fouani Mohamed, CEO Of Founani Group, Kidnapped In Lagos

Mr. Mohamed Fouani, a Lebanese billionaire businessman, founder, and CEO of Founani Group, has been kidnapped in Lagos.

He runs the Fouani Group, which is the sole franchise owner of LG and Hisense products in Nigeria.

He personally introduced LG and Maxi electronics products into the Nigerian market 24 years ago.

Hisense later followed.

He also owns Yara Diapers, with its factory in Lagos.

While he was travelling by boat in Lagos, armed men kidnapped him and his companions.

While travelling from Apapa to Victoria Island, Mr. Fouani and three other Lebanese with him were abducted around Falomo Bridge in open daylight.

His abductors have established contact with the Fouani family, and they are demanding a ransom of $1.5 million to be paid in dollars for the release of the businessman.