An African billionaire is reportedly on the verge of taking over English Championship club Sheffield United.

The takeover is worth £90million ($109m), and the buyer is the subject of the EFL’s owners’ and directors’ test at present but no problems have been flagged so far.

The African investor is Nigerian billionaire Dozy Mmobuosi, the founder and Group Chief Executive Officer of Tingo Inc., the parent company of Tingo Mobile Plc.

Mmobuosi, who is worth $7.6 billion, is also the founder of Africa’s leading Agri-Fintech company and digital platform, Nwassa.

The 43-year-old is involved in football in his home country as he has funded scouting schemes, training programmes and talent management for Nigeria’s top tier side Nasarawa United.

His Dozy Mmobuosi Foundation bankrolled an inaugural ‘Super Cup Tournament’ for clubs in the Nigeria Professional Football League (NPFL) for $217,000.

Meanwhile, Sheffield are on course to win promotion back to the Premier League automatically, as they sit in second place with a 12-point cushion to Middlesbrough in third with a game in hand.