'I'm not a millionaire, I'm a billionaire. I became a billionaire 20 years ago.". Nigerian businessman and socialite Terry Waya has renewed his claim that he created Banana Island, Lagos’s exclusive residential enclave. Banana Island is a man-made peninsula reclaimed from the Lagos Lagoon and connected to Ikoyi. Known for its luxury residences, high property values and wealthy occupants, the estate features planned roads and underground utility systems.