Dangote urges African business leaders to drive continent’s transformation

The President and Chief Executive of the Pan-African conglomerate, Dangote Group Aliko Dangote, has called on African business leaders to take the lead in transforming the continent. Speaking at the just concluded African Renaissance Retreat held in Kigali, Rwanda, Dangote pointed out that despite significant challenges besetting Africa, its youthful population and abundant resources, including about 30% of the world’s mineral reserves and the largest reserves of gold, cobalt, uranium, platinum, and diamonds, offer opportunities for substantial and inclusive growth. “Additionally, we have 65% of the world’s arable land and 10% of the planet’s internal renewable freshwater sources. Together these present a myriad of opportunities for robust, inclusive growth that harness our abundant human potential and natural resources to increase prosperity, not just in Africa but across the globe,” he said. Dangote added that Africa is at a crucial inflection point, with the world’s youngest and fastest-growing population, rapidly expanding cities, and a growing embrace of innovation and new technologies, including Artificial Intelligence. Dangote noted that despite dealing with multiple barriers such as visas, inconsistent change in government policies, inadequate technical talent, lack of critical infrastructure, foreign exchange crises, inflation, cost of capital and other conflicts of differing dimensions, the Dangote Group has expanded from Nigeria to 14 countries across the continent, spanning multiple sectors from cement to fertilizers, sugar to oil refineries, petrochemicals, agriculture and more.  “The good news is that despite these challenges, we have succeeded in building a pan-African Group that employs over 50,000 people and generates revenues that should exceed $30bn by the end of 2025,” he said. Dangote who initiated the retreat noted that he had long contemplated bringing together a group of dedicated African business leaders to address the continent’s challenges, identify concrete solutions, and showcase Africa as a viable investment destination despite its obstacles.  He emphasized that the objective of the retreat was to offer an opportunity for collective action in tackling various issues, including persistent conflicts, energy and food security, supply chain disruptions, the debt crisis, and access to long-term concessional funding for development. “This small private and high-level gathering to discuss these issues and align on how we will own and shape our narrative for development is long overdue. With the foremost entrepreneurs on the continent, the leaders of the largest pan-African companies, those at the helm of the most important development institutions in Africa, our brothers and sisters leading global institutions, our leading investors, our pre-eminent civil society activists and a few of our most respected political leaders, this first step will be an opportunity to have a frank and honest dialogue amongst ourselves to consolidate what we see as our common ground” said Dangote. He added “we are coming together not just as leaders in our respective institutions but as visionaries and catalysts for transforming our societies. It is our collective responsibility to play our role in transforming our continent. Nobody will do it for us but us – especially us in this room”. While expressing his hope that the retreat would produce initiatives capable of significantly shaping Africa’s future and benefiting its people, Dangote acknowledged the contributions of President Paul Kagame of Rwanda, former President Olusegun Obasanjo, former President Ellen Johnson Sirleaf, and former Prime Minister Hailemariam Dessalegn. However, he cautioned that it is crucial for the leaders present to move beyond dialogue to decisive implementation and tangible impact. The Retreat participants resolved to urge African private sector and political leaders to engage in regular high-level dialogue. Additional proposals included supporting the ratification of the free movement of people protocol, launching the African Renaissance Companies Gender Compact, and convening top global business leaders of African descent. The leaders also aimed to champion an initiative aimed at significantly reducing logistics costs across the continent and one focused on ensuring internet access for a broader segment of Africa’s population. Participants at the retreat , which took place from September 6 to 8, included Amina J. Mohammed, Deputy Secretary-General of the United Nations; Prof. Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank; former Liberian President Ellen Johnson Sirleaf; Adebayo Ogunlesi, Chairperson of Global Infrastructure Partners; former Ethiopian Prime Minister Hailemariam Dessalegn, Samaila Zubairu of the African Finance Corporation, Makhtar Diop of IFC, and Jeremy Awori, CEO of Ecobank Transnational Incorporated. Others were Bernie Mensah of Bank of America; Dr. James Mwangi of Equity Group Holdings; Alain Ebobisse of Africa50; Aigboje Aig-Imoukhuede of Access Holdings; Genevieve Sangudi of Alterra Capital Partners; Jim Ovia of Zenith Bank; Tony Elumelu of Heirs Holdings; Naguib Sawiris of Orascom Telecom Holding; Dr. Vera Songwe; Jonathan Oppenheimer of Oppenheimer partners; Dr. James Manyika of Google;  Clare Akamanzi of NBA Africa; Fred Swaniker of Africa Leadership Group; Professor Hakeem Belo-Osagie of Harvard Business School; Myma Belo-Osagie of Harvard Africa Studies Centre; Patrice Motsepe of African Rainbow Minerals; Mohammed Dewji of METL; Moussa Faki Mahamat of Africa Union; Graca Machel of the Graca Machel Trust; Wamkele Mene of African Continental Free Trade Area Secretariat;  Tope Lawani of Helios Partners; Masai Ujiri of the Toronto Raptors; Mimi Alemayehou of Three Cairns Group; Dr. Donald Kaberuka of Southbridge Group; Precious Moloi-Motsepe of Africa Fashion International; Richelieu Dennis of Sundial Group of Companies; Louise Mushikiwabo, Secretary General of Organisation Internationale de la Francophonie; Hassanein Hiridjee of Axian Group; Kate Fotso of Telcar Cocoa; Nkosana Moyo of Mandela Institute for Development Studies; Nku Nyembezi of Standard Bank Group.

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CAF President bags highest Ivorian Award

The Confédération Africaine de Football (CAF) President Dr. Patrice Motsepe has been conferred with the highest Award in Cote d’Ivoire, which is the “Commander of National Order” by the Head of State of Cote d’Ivoire, President Alassane Ouattara, and the Chancellor of National Orders in Abidjan. The CAF General Secretary Veron Mosengo-Omba was conferred with the “Officer of the National Order” Award. President Ouattara said Dr Motsepe has played a key role not only in the successful delivery of the CAF Africa Cup of Nations but also in changing the face and fortunes of African Football. The Award by the Ivorian Government is also in recognition of Dr Motsepe’s commitment and leadership for delivering the most successful CAF Africa Cup of Nations (AFCON) in the history of this competition. President Ouattara said: “We are exceptionally proud of the work President Motsepe has done since taking over at CAF. The success of the Africa Cup of Nations is thanks to his and CAF’s leadership. The Award is in recognition of the excellent work he is doing at CAF and in promoting football development in Africa.” Dr Motsepe was joined by the President of FIF Yacine Idriss Diallo, Veron Mosengo-Omba  and the leadership of Football in Cote d’Ivoire. President Motsepe said: “I am deeply honoured and humbled to receive this Award on behalf of the CAF Member Associations representing the 54 African countries that are Members of CAF. My deepest gratitude to President Ouattara, the Government and people of Cote d’Ivoire for this distinguished Award.  The enormous success of the  AFCON Cote d’Ivoire was based on the visionary leadership of President Ouattara, the commitment of his Government as well as the support of CAF’s 54 Member Associations, the CAF EXCO, the Secretary General and staff of CAF, President Idriss Diallo, the LOC, the Football Leadership in Cote d’Ivoire, CAF sponsors and the passionate Cote d’Ivoire and African football supporters.  The AFCON Cote d’Ivoire was also an excellent example of football’s capacity to bring together and unite people from different racial, ethnic and religious backgrounds in Africa and worldwide.  The 1.4 billion people in 180 countries who watched the AFCON Cote d’Ivoire clearly indicates that African football is globally competitive and is as good as the best in the world. We will continue to invest in academies for boys and girls, schools football, trainers and coaches, the building of stadiums and other football infrastructure and facilities and support our Member Associations.” Mosengo-Omba also thanked the Ivorian Government for his award.

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President Tinubu meets with King Charles III at Buckingham Palace 

President Bola Tinubu was warmly received on Wednesday in London by His Majesty King Charles III at Buckingham Palace for a private meeting, highlighting the enduring and cherished relationship between Nigeria and the United Kingdom.   This will be the two leaders’ first meeting since they met in Dubai at the COP 28 Climate Summit last year. The latest meeting was at the King’s request. Both leaders discussed global and regional matters of shared priority, focusing on the urgent and complex challenge of climate change.   President Tinubu and His Majesty also explored opportunities for collaboration in anticipation of the upcoming COP 29 Summit in Azerbaijan and the Commonwealth Heads of Government Meeting (CHOGM) in Samoa.  President Tinubu reiterated Nigeria’s firm commitment to addressing climate change in a manner that aligns with the country’s energy security objectives whilst affirming Nigeria’s readiness to adopt global strategies for sustainability.  During their dialogue, the two leaders shared ideas for innovative approaches to climate financing and funding, expressing mutual interest in strengthening partnerships by harnessing Nigeria’s leadership position in Africa and the Commonwealth.

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Court jails internet fraudster in Enugu

Justice Mohammed Garba Umar of the Federal High Court, sitting in Independence Layout, Enugu has convicted and jailed one Okwudili Joseph for fraud. He was prosecuted on a one-count charge bordering on impersonation and cybercrime by the Enugu Zonal Directorate of the Economic and Financial  Crimes Commission, EFCC. The charge reads: “That you, Okwudili Joseph, on or about the 5th day of June, 2024 at Enugu, Enugu State, within the jurisdiction of the Federal High Court of Nigeria, fraudulently impersonated one Jim Warren, a gas  detection specialist from the United States of America with intent to gain advantage for yourself and thereby committed an offence contrary to Section 22 (3) (a) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015 and punishable under Section 22 (4) of the same Act.” He pleaded “guilty” when the charge was read to him, following which prosecution counsel, Mohammed Shehu reviewed the facts of the case and prayed the court to convict and sentence him accordingly, while the defence counsel, G. C. Ugwele prayed the court to temper justice with mercy, arguing that her client has become remorseful of his action and has learned his lesson as well. After listening to both sides, Justice Umar convicted and sentenced Joseph to two years imprisonment with hard labour or to pay a fine of N200,000.00 (Two Hundred Thousand Naira). The convict’s road to jail began with his arrest by EFCC operatives on June 5, 2024 in Nike, Enugu, following credible intelligence that linked him to fraudulent internet activities. He admitted to the commission of the crime upon arrest and willingly tendered his confessional statements.

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Court jails 17 Internet Fraudsters in Benin City

Justice Igho Braimoh of Edo State High Court, sitting in Benin City has convicted and sentenced 17 internet fraudsters to various jail terms.  The convicts are Oserei John Vianny, Osaro Moses, Desmond Okoduwa, Obi Isaac, Joshua Omoruyi, Iyabosa Omoruyi, Jeffery Omoruyi, Odion Alex Idada, Aisosa Aiyeki, Prosper Aimiomwona, Others are Cherish Omoruyi, Kelly Omoruyi, Victor Osaze, Obobor Moses, Timothy Ogie, Osemuahu Godspower, and Bonny Stephen. They were prosecuted by the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC on separate one-count charges bordering on obtaining by false pretence and possession of fraudulent documents. The charge against Oserei John Vianny reads: “That you Oserei John Vianny (m) on or about the 10th of June, 2024 within the jurisdiction of this Honourable Court did have in your possession documents which you knew or ought to have known contained false pretence, thereby committed an offence contrary to Section 6 and 8 (b) of the Advance Fee Fraud and other Fraud Related Offences Act 2006 and punishable under Section 1(3) of the same Act.” All the defendants pleaded “guilty” to their charges when they were read to them, prompting the prosecution counsel, I.K. Agwai, Ibrahim Faisal and Ahmed Salihu to pray the court to convict and sentence them accordingly. However, counsel to the defendants pleaded with the court to temper justice with mercy, stating that they have become remorseful for their actions. Justice Braimoh afterwards convicted and sentenced Vianny, Idada, Cherish Omoruyi, Kelly Omoruyi, Aiyeki, Obobor Moses and Osaro Moses to two years imprisonment or to pay a fine of N200,000.00 (Two Hundred Thousand Naira) each, while Iyobosa Omoruyi, Joshua Omoruyi, Aimiomwona, Ogie, Godspower, Stephen, Jeffery Omoruyi, Osaze and Isaac bagged three years imprisonment or to pay a fine of N200,000.00 (Two Hundred Thousand Naira) each. Desmond was handed three years imprisonment or to pay a fine of N500,000 (Five Hundred Thousand Naira). Furthermore, the judge ordered the forfeiture of a Toyota Camry, Mercedes Benz 350, Rav4 Toyota, Mercedes Benz C300 recovered from Desmond Okoduwa, Isaac, Aiyeki being proceeds of their crime to the federal government. In addition, all the convicts forfeited their phones, laptops, and money in their respective bank accounts to the federal government and undertook in writing to be of good behaviour henceforth. The convicts’ journey to the correctional centre began with their arrest by operatives of the Benin Zonal Directorate of the EFCC following credible intelligence on their involvement in fraudulent internet activities.

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Ogun to release 100 CNG Buses -Abiodun

The Governor, Prince Dapo Abiodun has announced that his administration would make available 100 brand new 18-seater Compressed Natural Gas (CNG) buses for the use of transporters in the state. The Governor, who made this known in his office at Oke-Mosan, Abeokuta on Monday, also said that the Federal Government would make available 20 CNG-enabled buses and 500 conversion kits to the state government during the week. Governor Abiodun disclosed this at a meeting with transport unions on how to ensure fair transportation pricing in the state. Abiodun also announced the inauguration of an enforcement committee, comprising the State Police Commissioner, his counterpart in the Department of State Security Service (DSS), the Traffic Compliance Agency (TRACE), and heads of transport unions, as well as representatives from the Ministries of Transportation and Trade and Investment. He said that the meeting was called because of events over the last week, including fuel scarcity, which is already abating, and the associated increase in the pump price of the product. Abiodun noted that there has always been an astronomical rise in transport fares anytime there is a slight adjustment in the pump prices of fuel. According to him, the federal government, led by President Bola Ahmed Tinubu, is not unmindful of the impact of the recent hike in the pump price, adding that the government is putting in place measures to lessen the impact on the people. “The plans that we have as a state government, our plans are to, in the first instance, make 100 buses—100 18-seater buses—available to our transport unions. These will be 100 brand new CNG buses, and these buses will be brand buses, not no-name buses. We are talking about Toyota Hiace buses that we will give to you under a purchase agreement. “We will make them available to you, and you can pay in installments over a period of time. You have demonstrated commitment and seriousness, and we are confident that when we give you these buses, you will utilize them responsibly and pay back on time. “The Federal Government has also started an Energy Transition Program through the Presidential CNG initiative, and I can confirm to you that the Presidency has confirmed that they are making 20 buses available to Ogun State in the first instance—20 CNG buses. We will be getting those buses in the next week. “They are also making 500 CNG conversion kits available to Ogun State for the immediate conversion of vehicles to CNG-enabled. “I have been assured that the conversion kits, which is the first batch of 500, will reach us in the next five days. You know that we have a conversion center in Ogun State. We are a major conversion center for the Southwest, and we will begin the conversion of vehicles in accordance with how we agree in terms of scheduling who will come first and what vehicles we will begin to convert,” he said. Governor Abiodun, while disclosing that the Federal Government is gradually leaving the business of sales and distribution of petroleum products to the private sector, noted that there was no need for transporters to increase transport fares by over 1000% when the price of PMS was just increased by 30%. “We’ve seen in the past that when there is a change in pump prices by maybe 10%, we have noticed that our transporters also naturally increase fares because the cost of their operational equipment—be it motorcycles, tricycles, trucks, or buses—is impacted. “What we’ve noticed is that when there is a change in the pricing of petroleum products by 10% to 20%, the impact that we see play out at times is like 2000%, and we want to dialogue to ensure the people are not stretched. “The change in price is about 25% or 30%, so if pump prices have changed by like 25% to 30%, we should not see a difference in transport fares that is more than 25% or 30%,” he said.

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EFCC boss, Olukayode tasks Auditors on due diligence

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has charged auditors across the country to always ensure due diligence and compliance in their operations. According to him, auditors are professional gate-keepers trained to keep watch over every system in order to achieve organizational goals through appropriate control measures. The EFCC’s boss spoke in Abuja  at the weekend while receiving a team from the Institute of Internal Auditors, IIA, that came to the Commission’s headquarters on a Courtesy Visit. The team, led by Ibrahim A. Anas, applauded Olukoyede on his achievements since he resumed office. Speaking through the Director, Internal Audit, Commander of the EFCC, CE Idowu Oluwole-Apejoye, Olukoyede pointed out that auditors are crucial in preventing corruption and ensuring that systems work for the good of all. “Auditors are crucial in ensuring that our systems are working effectively. They must be diligent in their work to prevent corruption and ensure that our policies are followed,” he  said. Affirming the Chairman’s commitment to due diligence, she stressed that, “The Executive Chairman is a compliance person who ensures due diligence and compliance in every aspect of what he does.” Director of Finance and Accounts, CE Ahmed Pate, also emphasized the importance of auditors in ensuring financial transparency. “Auditors play a critical role in ensuring that our financial systems are transparent and accountable. We must ensure that our financial reports are accurate and reliable.” Pate further advised the Institute to key into the national anti-corruption strategy of the Federal government of Nigeria.  “You have members across the Federation in both government and private sectors, so ensure your members join by becoming whistleblowers in their various organizations.” Also speaking, the Chief of Staff to the Executive Chairman, CE Michael Nzekwe, emphasized the importance of auditors in ensuring that systems work for the good of all. “Any organization that wants to succeed must get it right from their account and audit. You are good, but if the audit is in a mess, you are finished.” Earlier, Anas called on EFCC’s internal auditors to join the Institute to enhance their performance in the Commission, promising that his Institute would provide standard guidelines for internal audit. “We have heard over time the Chairman saying that the cost of investigation is on the high side. As internal auditors, we are expected to put some control measures before those crimes actually take place”,  he said.

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Ogun LGA Elections: COYOF drums support for Delu

The Coalition of Ogun Youth Forum (COYOF) has reassured of their unalloyed support for Honourable Babatunde Adeluola ahead of Abeokuta South Local Government Chairmanship poll.  According to the group, “Abeokuta South Local Government as one of the premier Councils in the country deserves no less but an astute, a technocrat and versatile man in charge.  “No one can fill this void than the man of the people, Babatunde Adeluola (Delu).  “Having served for decades as a financial expert, Delu will be prudent with public funds.  “Our incoming chairman is youthful, vibrant, energetic, listening and shall be useful for everyone, especially the youths in the LGA.  “Let’s join hands and support Delu to achieve great dreams for our beloved Local Government.  “Our iconic local government deserves the best brain and no other than Delu.  “Delu for sure!!! “Vote DELU, Vote Progress!,” the group stated.  Adeluola, a financial expert with several years of experience, is the candidate of the All Progressive Congress. 

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