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Dangote Foundation, WEF Unveil 2024 Class Of Dangote Fellows—-Aliko Dangote Foundation (ADF), in conjunction with the World Economic Forum (WEF) and Forum of Young Global Leaders (YGL), has unveiled gifted and high calibre individuals for the esteemed 2024 class of the World Economic Forum Young Global Leaders (YGL) Dangote Fellows.

ADF and WEF, in a release, said, “With great excitement and anticipation, ADF and WEF announce this year’s cohort, a group of visionary leaders poised to make impactful contributions to global development, innovation, and leadership.

The WEF YGL Dangote Fellowship, a partnership between the Aliko Dangote Foundation and the World Economic Forum, identifies, engages, and supports outstanding individuals under the age of 40 who demonstrate exceptional leadership potential in various fields.

This year’s class, according to ADF and WEF embodies the diverse talents, expertise, and commitment to positive change that characterise the YGL community.

The selected young leaders are: Alloysius Attah, Co-Founder & CEO of Farmerline, Ghana; Angela Oduor Lungati, Executive Director of Ushahidi Inc., Kenya; Judy Sikuza, CEO of the Mandela Rhodes Foundation, South Africa; Lelise Neme Sori, Commissioner at the Ethiopian Environmental Protection Authority, Ethiopia, and Nomasonto Motaung, Deputy Minister in the Presidency Government of South Africa, South Africa.

 Others include: Oluwatosin Olaseinde, Founder & CEO of Money Africa, Nigeria; Veda Sunassee, CEO African Leadership University, Mauritius, and Thabile Ngwato, CEO & Co-Founder of Newzroom 405, South Africa.

A statement jointly released by ADF and WEF, indicated that “For the first time, the newly inducted Fellows will convene for a transformative three-day retreat in Geneva, Switzerland, organised by the World Economic Forum Foundation. The retreat aims to provide an unparalleled opportunity for the new class of Young Global Leaders to connect with their peers, deepen their understanding of the YGL community, and align themselves with its core values.

“This gathering underscore the commitment of the Forum of Young Global Leaders to foster collaboration, innovation, and sustainable leadership among the world’s most promising young change-makers.

 “We are thrilled to welcome the exceptional individuals who make up the Class of 2024 Aliko Dangote Fellows,” said Fatima Aliko Dangote, Aliko Dangote Foundation Board Trustee member. “Their diverse backgrounds, bold ideas, and unwavering commitment to driving positive change will undoubtedly enrich our community and contribute to shaping a more inclusive and sustainable future for all.

“We believe that these remarkable individuals will not only benefit from the resources and opportunities provided by the WEF YGL Dangote Fellowship but will also leverage their talents and expertise to address some of the most pressing challenges facing our world today,” she added.

Young Global Leaders are selected from a variety of sectors such as business, government, academia, media, non-profit organisations and arts and culture, and from all regions of the world. Young Global Leaders engage in initiatives that address specific challenges of public interest with the objective of shaping a better future.

The honour, bestowed each year by the Forum, recognises young leaders from around the world for their professional accomplishments, commitment to society and potential to contribute to shaping the future of the world.

The 2024 honourees will become part of the broader Forum of Young Global Leaders that convene at an Annual Summit, which are integrated into events organised by the World Economic Forum, and organise events of their own, as well as launch and lead their own innovative initiatives and task forces.

These activities enable YGLs to learn from and with each other; build knowledge and engender a better understanding of global challenges and trends, risks and opportunities; and further enhance their unique role as leaders within their own organisations, the World Economic Forum and the broader global community.

 Past YGLs include: Uche Pedro, Founder & CEO Bella Online Media, Tokini Peterside, CEO Art X Collective, Oluseun Onigbinde, Co-founder BudgIT, Adebola Williams, CEO Red Media Africa, Dr. Tolu Oni, Associate Professor University of Cape Town & University of Cambridge.

 Others are: Iyinoluwa Aboyeji, (ex-)CEO Flutterwave (now CEO Fund for Africa’s Future), Lois Auta, Founder & ED Cedar Seed Foundation, Ada Osakwe, Managing Partner Agrolay Ventures, Cynthia Mosunmola Umoru, Founder Honeysuckles PTL Ventures, Simon Kolawole, Founder & CEO Cable Newspaper, Tara Fela-Durotoye, Founder & CEO House of Tara, among many others.

 Since its inception in 2011, the partnership between the Forum of Young Global Leaders and the Aliko Dangote Foundation has been instrumental in nurturing Africa’s next generation of leaders. Over the past decade, the Foundation’s support has empowered over 115 YGL Dangote Fellows, enabling them to accelerate their impact and catalyse lasting change across the continent and beyond.

 The Aliko Dangote Foundation Fellows join a prestigious network of over 1,400 Young Global Leaders from diverse fields including business, government, academia, and civil society. Together, they represent a powerful force for driving positive change and addressing the world’s most pressing challenges.

 The Forum of Young Global Leaders, established by the World Economic Forum in 2004, is a unique, multistakeholder community of more than 1,400 outstanding young leaders from around the world. Each year, the Forum recognises the most innovative, enterprising, and socially minded individuals under the age of 40 who are pushing the boundaries of global leadership and making a positive impact on society.

 The Aliko Dangote Foundation, established by foremost Nigerian industrialist and humanist Aliko Dangote, is committed to improving the quality of life for people across Africa by supporting initiatives in health and nutrition, education, and economic empowerment.

The World Economic Forum is the International Organisation for Public-Private Cooperation. The Forum engages the foremost political, business, cultural, and other leaders of society to shape global, regional, and industry agendas.

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FirstBank Reaches ₦500bn Capital Threshold Before CBN Deadline

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FirstBank Reaches ₦500bn Capital Threshold

FirstBank Reaches ₦500bn Capital Threshold Before CBN Deadline—-First HoldCo Plc says its commercial banking subsidiary, First Bank of Nigeria Ltd., has met the Central Bank of Nigeria’s N500 billion minimum capital requirement.

The disclosure was made in a statement on Wednesday by Mr Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications, FirstBank.

Ijabiyi said the milestone followed strategic capital initiatives, including a Rights Issue, Private Placement and proceeds from divesting the group’s merchant banking subsidiary.

He said the successful capitalisation reflected strong market confidence in FirstHoldCo’s business model, long-term vision and growth prospects.

“With a fortified capital base, FirstBank is positioned to accelerate real sector support, deepen financial inclusion and deliver innovative, digitally driven customer experiences,” Ijabiyi said.

He added that the recapitalisation strengthens financial resilience and provides a platform for earnings growth through expansion, technology and new opportunities.

In March 2024, the CBN directed commercial banks to raise minimum capital to N500 billion within 24 months to strengthen sector stability.

Ijabiyi said FirstBank had fulfilled the requirement well ahead of the regulatory deadline.

He said FirstHoldCo plans to raise fresh funding in 2026 to inject additional capital into subsidiaries and new business adjacencies.

According to him, the move aims to enhance service offerings and support strategic expansion.

Commenting, Chairman, Mr Femi Otedola, thanked shareholders for their trust and support throughout the capitalisation programme.

“Securing FirstBank’s capital base ahead of schedule positions us firmly for our next growth phase,” Otedola said, appreciating guidance from the CBN and SEC.

Group Managing Director, Mr Wale Oyedeji, said the capital raise strengthens execution of strategic priorities and delivery of lasting value to stakeholders.

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FBN Quest Repossesses Nestoil HQ As $1bn Debt Row Deepens

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FBN Quest Repossesses Nestoil HQ

FBN Quest Repossesses Nestoil HQ As $1bn Debt Row Deepens—-Nestoil’s financial woes have taken a turn for the worse as FBN Quest Merchant Bank and First Trustees Limited repossessed the company’s Lagos headquarters over a $1 billion debt. Armed policemen were stationed at the entrance of the building, and the multi-storey facility at 41/42 Akin Adesola Street, Victoria Island, Lagos, was sealed and marked as repossessed.

This latest development follows a Court of Appeal ruling that reversed an earlier Federal High Court decision, allowing the receiver-manager to take over Nestoil’s assets. The debt, reportedly exceeding $1.01 billion and ₦430 billion, has been a longstanding issue for the oil and gas services group.

Nestoil had previously stated that the matter was a commercial dispute being addressed through legal channels, assuring stakeholders that operations remain unaffected across all business lines. However, the repossession of its headquarters signals a new phase in the years-long battle between Nestoil and its creditors.

A federal high court in Lagos had earlier, on October 22, 2025, issued a Mareva order authorising First Trustees and its subsidiary, FBNQuest Merchant Bank, to assume control of the company’s assets.

Justice D. I. Dipeolu granted the injunction against the defendants — Nestoil Limited, its affiliate Neconde Energy Limited, and the principal promoters, Ernest Azudialu-Obiejesi and Nnenna Obiejesi.

Dipeolu restrained all dealings relating to $1,012,608,386.91 and N430,014,064,380.77 — the total indebtedness as of September 30, 2025.

There were also additional debts personally guaranteed by Azudialu-Obiejesi, including over N366.8 billion, $61.2 million, $152 million, and N10.4 billion owed to Access Bank, First Bank, and Zenith Bank.

However, Nestoil and its promoters later approached a federal high court seeking to set aside the Mareva order prior to the latest development.

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