News
Dangote More Powerful Than President Jonathan in Forbes Ranking

Aliko Dangote, founder, Dangote group and the richest man in Africa has been named by Forbes magazine as the 64th most powerful person in the world.
The 56-year old Kano born multibillionaire is the only African on the first 70 meaning he is more powerful than all African heads of state, including Nigeria’s President Goodluck Jonathan.
Dangote with interests in every profitable pie built his fortunes from diversified interests in cement, sugar, flour, salt, petrochemicals, oil and gas.
He along with Larry Ellison, founder of Oracle rated number 58 is the latest billionaire-entrepreneurs to join the list alongside 27 CEOs.
But who is the most powerful? Okay wait!: it is Vladimir Putin , Russian President who climbed one spot ahead of U.S. President Barack Obama, who held the title in 2012.
The Most Powerful People in the World list is an annual snapshot of the heads of state, financiers, philanthropists and entrepreneurs who truly rule the world.
It represents the collective wisdom of top FORBES editors, who consider hundreds of nominees before ranking the planet’s top 72 power-brokers – one for every 100 million people on Earth — based on their scope of influence and their financial resources relative to their peers. (See full methodology here).
This year’s list features 17 heads of state who run nations with a combined GDP of some $48 trillion — including the three most powerful people, Putin, Obama and Xi Jinping, the general secretary of the Communist Party of China. The 27 CEOs and chairs control over $3 trillion in annual revenues, and 12 are entrepreneurs, including new billionaires on the list, Nigeria’s Aliko Dangote (No. 64), founder of Dangote Group, and Oracle’s Larry Ellison (No. 58). Speaking of, this year’s class has 28 billionaires valued in excess of $564 billion.
Here, a quick peek at the Most Powerful People in the World 2013:
Newcomers: Among the 13 newcomers are Pope Francis (No. 4), Samsung Chairman Lee Kun-Hee (No. 41), Volkswagen’s Martin Winterkorn (No. 49), South Korean President Park Geun-hye (No. 52), IBM CEO Virginia Rometty (No. 56), and Janet Yellen (No. 72), nominated by President Obama as the next leader of the U.S. Federal Reserve. Rosneft CEO and Putin confidant Igor Sechin (No. 60) and Jill Abramson (No. 68), the executive editor of the New York Times, make a return appearance after dropping of the list in years past.
He’s Not No. 1: This is the first year that Putin carries the crown. Obama has been on the top of the list for every year with the exception of 2010, when Hu Jintao, the former political and military leader of China, was No. 1.
Women Moving Up In Numbers: This year there are nine women on the list, representing 12% of the world’s most powerful — in stark contrast to being 50% of the world’s population. Both 2011 and 2012 featured six women leaders, and the inaugural list from 2009 included only 3 — or just 4.4%. Recently elected Park of South Korea joins the other female heads of state German Chancellor Angela Merkel No.5), Brazil’s Dilma Rousseff (No. 20)and de facto head of India Sonia Gandhi (No. 21). Two of the world’s most important NGO’s are run by women: Christine Lagarde (No. 35) leads the IMF and Margaret Chan (No. 59) steers the World Health Organization.
Billionaires: Worth a cumulative $564 billion. Sure they’re rich but many of these billionaires deserve special attention for their philanthropic work, including Warren Buffett (No. 13), Michael Bloomberg (No. 29), Li Ka-shing (No. 30), Charles and David Koch (No. 31), and Mohammed Ibrahim (No. 71).
Entrepreneurs Represent: There are 12 in total. As expected, many are headquartered on the West Coast: Google’s Larry Page and Sergey Brin (No. 17), Mark Zuckerberg (No. 24), Elon Musk (No. 47), Ellison and Reid Hoffman (No. 65). Global entrepreneurial spirit spans from Japan’s Masayoshi Son (No. 45) and China’s Robin Li (No. 61) to Africa’s Dangote and Ibrahim.
News
DBN Awards N13m in Grants to Tech Startups

Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).
The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million
Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.
The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.
In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN, described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.
“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”
Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.
He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.
Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”
A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.
The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.
Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”
News
FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations

In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.
The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.
Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”
Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.
TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.
Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.
News
How and Why N210 Trillion is Missing in NNPCL – CFO

Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
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