General News
Dangote Makes History, Becomes First African to Enter Top 25 Richest List

Alhaji Aliko Dangote, Nigerian business magnate and owner of the Dangote Group can’t just stop making money. His reported wealth now is $25 billion from $16.1 billion in 2013 and enough to help him break into the rank of top 25 richest people in the world.
He is like the most famous King Midas, popularly remembered in Greek mythology for his ability to turn everything he touched with his hand into gold.
According to the recently released Forbes Magazine lists of the richest people in the world, Dangote now occupies 23rd position in the list of the world’s richest people.
And for the fourth year running, Dangote also retained his position in Africa as the richest man on the continent.
Dangote who was number 43 on the top 100 world billionaires list in 2013 made a quantum leap as he moved up 20 spots to retain his position in Africa.
According to Forbes, the Africa’s richest man is looking beyond cement, sugar and flour–the three commodities that built his fortune–to the oil business.
In April, he announced $9 billion in financing from a consortium of local and international lenders to construct a private oil refinery, fertilizer and petrochemical complex in the country.
His publicly traded Dangote Cement is also grabbing new markets in Africa, with $750 million in new plants planned for Kenya and Niger.
He made his first fortune more than three decades ago when he started trading commodities with a loan from his powerful uncle.
Elsewhere, Mike Adenuga was next to Dangote on the lists with a wealth of $4.6 billion, maintaining 325 positions in the world, while Folorunsho Alakija with $2.5 billion was 687 in the world and Abdulsamad Rabiu ranks 1,372 in the world with $1.2 billion.
But Bill Gates came back on top after a four-year hiatus, reclaiming the title of world’s richest person from telecom mogul Carlos Slim Helu of Mexico, who ranked No. 1 for the past four years.
Gates, whose fortune rose by $9 billion in the past year, has held the top spot for 15 of the past 20 years.
Spanish clothing retailer, Amancio Ortega (best known for the Zara fashion chain), retains the No. 3 spot for the second year in a row, extending his lead over Warren Buffett, who is again No. 4.
The year’s biggest dollar gainer was Facebook’s Mark Zuckerberg, whose fortune jumped from $15.2 billion, to $28.5 billion, as shares of his social network soared. Tech. and more specifically, Facebook, helped propel numerous fortunes lately.
The company’s COO, Sheryl Sandberg, joins the ranks for the first time, as does Facebook’s longtime Vice President, Jeff Rothschild. Also, thanks to a $19 billion deal (including restricted stock) with Facebook, WhatsApp founders, Jan Koum and Brian Acton, join the ranks of Silicon Valley’s wealthiest for the first time.
They are four of 26 newcomers whose fortunes come from technology, 10 of whom are American, including Dropbox CEO, Drew Houston and Workday cofounder, Aneel Bhusri.
US once again leads the world with 492 billionaires, as a result of the tech boom, and strong stock market, then followed by China with 152 and Russia with 111. But wealth is spreading to new places.
Also for the first time in the history of Forbes rating, billionaires were found in Algeria – Issad Rebrab, who is into food business, with $3.2bn worth; Rostam Azizi from Tanzania with $1 billion and Sudhir Ruparelia from Uganda with $1.1 billion worth of assets.
General News
FBI Sends Team to Nigeria to Track Down ‘Sextortion’ Scammers

Sextortion scams have become so widespread that the Federal Bureau of Investigation (FBI) is sending agents to Nigeria to help track down the perpetrators.
The agency’s “Operation Artemis” has led to the arrest of 22 Nigerians, half of whom are “directly linked” to sextortion incidents in which victims died by suicide.
Sextortion scams often begin on social media, where perpetrators pose as attractive young women to lure victims—typically unsuspecting teenage boys—into sending nude photos or explicit videos.
Once the images are obtained, the scammers turn to blackmail, threatening to leak the content unless the victim pays up.
In some cases, the sextortion results in teenage victims taking their own lives over fear of the nudes leaking.
In Thursday’s announcement, the FBI noted it’s been “observing a significant increase over the last three years in financially motivated sextortion schemes targeting young males ages 14-17, resulting in more than 20 minor victims dying by suicide.”
The agency is also facing a 30% year-over-year increase in sextortion-related tips.
“According to the FBI’s Internet Crime Complaint Center or IC3, there were over 54,000 [extortion-related] victims in 2024, up from 34,000 in 2023,” it said.
“Over the last two years there have been nearly $65 million dollars in financial losses due to this crime.”
In response, the FBI says 55 agency field offices came together to identify “nearly 3,000 victims of financially motivated sextortion,” which led investigators to track down the culprits in Nigeria.
The US has since extradited at least three suspects from Nigeria.
“These subjects will now be held accountable in the American justice system, with more subjects still awaiting extraditions in Nigeria,” the FBI added.
General News
FBNQuest Trustees Hosts Estate Planning Summit in Port Harcourt

FBNQuest Trustees Limited, a subsidiary of First HoldCo Plc, provider of trust solutions to individuals, corporate and government institutions, recently hosted its inaugural Estate Planning Summit in Port Harcourt.
The maiden event, themed: Wealth Preservation and Transfer without Hassle, was organised to strategically enlighten and empower the participants with the necessary knowledge required to seamlessly manage and successfully transfer their assets and legacies to their beneficiaries.
Speaking at the event, the Acting Managing Director, FBNQuest Trustees, Babajide Fetuga, stressed the critical importance of seeking professional guidance on estate planning, preservation and transfer of wealth to successive generations and other beneficiaries. He stated that a professionally drafted estate plan gives no room for any form of ambiguity; hence, it provides clear directives on what to do at any time.
‘’The potential consequences of not having an estate plan include perennial family disputes and protracted court cases, which may result in a huge financial burden and foster long-lasting resentments among loved ones if proactive steps are not undertaken to protect individuals, families and loved ones from avoidable stress.
‘’Understanding the values of wealth preservation is crucial. It is vital to recognize the importance of having a strategic estate planning blueprint, and we are determined to educate you with knowledge that not only informs but inspires you to take the necessary actions as you move forward,” he added.
FBNQuest Trustees is dedicated to promoting effective estate planning solutions. The company has a track record of successfully hosting estate planning summits in Abuja, Lagos, Minna and Ibadan and continues to emphasize the importance of thoughtful planning through initiatives like the Legacy Series Campaign and the Legacy Room podcast.
The summit featured industry experts who delivered valuable insights on the significance of wealth preservation and transfer, addressing the residents of Port Harcourt and its environs. The discussions focused on practical approaches and proactive measures attendees can adopt to manage their estates effectively and minimize potential future challenges.
General News
Meta Tightens Spam Controls to Elevate Original Content on Facebook

Meta has announced new measures to tackle spammy content on Facebook, aiming to enhance the Feed experience and support authentic creators. These updates are part of Meta’s broader commitment to fostering a platform where meaningful interactions thrive.
The initiative includes reducing the visibility of spammy content. Accounts that share duplicate posts, irrelevant captions, or excessive hashtags will lose reach and monetization eligibility. Spam networks that create multiple accounts to share identical content will also face decreased visibility.
Meta is increasing efforts to detect and remove fake accounts and pages involved in coordinated engagement or impersonation.
In 2024, the platform removed millions of such accounts. Features in Moderation Assist have been enhanced to auto-hide comments from suspected fake identities, and creators can now report impersonators directly in comments.
To further support original content, Meta continues to improve its Rights Manager tool, helping creators protect their work. Updated guidance aims to encourage creators to share authentic and engaging content to ensure their success on the platform.
Oluwasola Obagbemi, Head of Communications for Sub-Saharan Africa at Meta, emphasized the importance of creating an environment where creators who invest in meaningful content are recognized and rewarded.
Meta remains committed to fostering a positive and authentic environment for creators and users alike. Let me know if you’d like more adjustments!
- Telecom3 days ago
Nigeria Hits 1 Terabit Internet Traffic Milestone
- E-Financial3 days ago
FCMB Capital Markets Leads ₦11.85bn GLNG Bond for LNG Plant Expansion
- General News3 days ago
FG to Introduce New Tax Credit Scheme to Replace Pioneer Status Incentive
- Telecom3 days ago
MTN Nigeria Faces Class Action Lawsuit over Alleged Data Mismanagement
- News3 days ago
IMF Downgrades Nigeria’s Economic Growth Forecast Amid Oil Price Decline
- News3 days ago
NITDA Fixes Date for Inaugural Meeting of the Startup Consultative Forum
- E-Financial2 days ago
Union Bank’s Edu360 Initiative Scores Big for Nigerian Football Development
- Telecom3 days ago
Mart Networks Unveils Invinsense 6.0: AI-Powered Cybersecurity Revolution in Africa