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AFIG Funds CEO, Papa Ndiaye, Receives 2018 Private Equity Africa’s Outstanding Leadership Award
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Private Equity Africa (PEA) awarded Papa Ndiaye, CEO of AFIG Funds, the 2018 Outstanding Leadership Award at a ceremony held in London Tuesday night. PEA is the pre-eminent magazine on Private Equity in Africa. It is in recognition of PE professionals who have helped shape the industry.
“It is quite an honor to be recognized by my esteemed peers for Private Equity Africa’s Outstanding Leadership Award. I have had the privilege of seeing the African PE industry blossom from its very humble beginnings in the 1990s, and I firmly believe that the best years are ahead of us, particularly with African capital markets evolving rapidly and the African PE LP base broadening to include a more diverse base of local as well as international institutions in recent years,” said Papa.
“This award is a strong testament to the commitment and hard work of my colleagues at AFIG Funds, who have accepted the challenge of promoting private equity both in established and frontier markets on the continent. Thanks to their hard work and excellence, we have invested across 12 countries to-date and impacted the development of African blue-chip companies in several sectors, while providing healthy returns to our Limited Partners. I also thank my peers in the industry, whose support and friendship and contributions have been essential in fostering a collective vision for a stronger PE sector in Africa.”
It has been a remarkable year for AFIG Funds with one of the company’s LP Old Mutual also being recognized for a House of the Year Award, as well as INJARO (an AFIG Funds strategic partner) for the Small Cap/VC category.
https://iso.keq.mybluehost.me/cnbc-africa-receives-award-for-best-business-television/
Gail Mwamba, Awards Chair &Managing Editor of PEA said: “The Private Equity Africa awards celebrate industry leaders who are doing exceptional work on the continent, and highlighting their achievements helps develop the continent. The Outstanding Leadership Award is the only category that is voted on by industry peers. Papa was selected by the industry leaders for his consistent contribution to the growth of the industry. We would like to thank Papa for his contribution to the industry and congratulate him on winning this prestigious award.”
Papa has been a leader in the Private Equity landscape for three decades. Before AFIG Funds, he was a founding member and Investment Director of EMP (now ECP). Prior to that, he had investment responsibilities in IFC’s Africa Department and helped launch several landmark funds in Africa.
He also worked at Salomon Brothers in 1988 before joining JP Morgan’s Emerging Markets Group in 1992 in the Latin America M&A Group and served as Economic advisor to President Wade of Senegal in 2000. In 2004, Papa was selected as a “Young Global Leader” by the World Economic Forum of Davos, and then as one of the “Frontier 100 CEOs” of the Initiative for Global Development in 2009.
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Kano Court Bars CBN from Withholding LG Funds
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A high court in Kano State has issued a permanent injunction restraining the Central Bank of Nigeria (CBN) from withholding funds allocated to the 44 local government areas (LGAs) of the state.
Justice Ibrahim Musa-Muhammad delivered the ruling on Monday after an ex parte motion filed on November 1 by the National Union of Local Government Employees (NULGE), Ibrahim Muhammed, and five others. The applicants sought to prevent the respondents from delaying or withholding allocations crucial to local governance.
Respondents in the case included the Accountant-General of the Federation (AGF), the CBN, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the 44 Kano LGAs, and commercial banks such as United Bank for Africa and Access Bank.
In November, the court had granted an interim order preventing the CBN and AGF from withholding funds. In his final judgment, Justice Musa-Muhammad ruled in favor of the applicants, affirming that they had established their case.
“The AGF, CBN, and RMAFC are duty-bound to disburse monthly allocations to the 44 LGAs as democratically elected councils,” the judge ruled, emphasizing that withholding the funds would violate the fundamental rights of residents.
Citing sections 33, 42, 43, 44, 45, and 46 of the 1999 Constitution, as well as Articles 13, 19, 22, and 24 of the African Charter on Human and Peoples’ Rights, the court reinforced the constitutional requirement that local government funds be disbursed without interference.
Legal analysts and stakeholders in Kano welcomed the ruling as a landmark decision. NULGE Chairman Ibrahim Muhammed hailed it as a victory for grassroots governance, stating, “This ruling ensures that local governments receive their rightful allocations without political or bureaucratic interference.”
Senior legal practitioner Barrister Amina Yusuf described the judgment as “a reinforcement of the principle of fiscal federalism,” stressing that local government allocations are a constitutional right, not a privilege.
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Ibadan North Bye-Election Aspirant, ‘Socrates’, Bags NANS Southwest Award
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The National Association of Nigerian Students (NANS) Zone-D (Southwest), the umbrella body representing students across Oyo, Lagos, Ogun, Osun, Ondo, and Ekiti States, has conferred an Award of Honour on one of its former leaders and a frontline aspirant in the forthcoming Ibadan North Federal Constituency bye-election, Hon. Monsuru Akintunde Adeyemo, popularly known as Socrates.
The prestigious recognition was bestowed during the NANS Zone-D inauguration ceremony held on Monday, February 10, 2025, at the FUOYE Part-time Centre, Federal University of Oye-Ekiti, Ayegbaju, Ekiti State.
While presenting the award, Com. Owolewa Taiwo, NANS Zone-D Coordinator, lauded Adeyemo for his selfless leadership and unwavering commitment to the association and Nigerian students. He described him as a pro-people thinker who served meritoriously and empowered many.
“Our amiable leader, Sir! Indeed, we’re proud of you, and we want to say thank you for all you’ve done for Nigerian students and humanity in general,” Owolewa said.
“On behalf of myself, the executives, leaders here present, and the entire Nigerian students in Yoruba land, I present this Award of Honour to you, Sir, Hon. Monsuru Akintunde Adeyemo (Socrates), in recognition of your invaluable contributions and meritorious service to NANS Southwest (Zone D).
“You’re being honoured with much appreciation and gratitude. May you continually flourish. Congratulations!”
In his appreciation and solidarity message, the politician, Adeyemo who was represented by the immediate past NANS/JCC Chairman in Oyo State and the current NANS Zone-D Contact and Mobilisation Secretary, Comrade Ridwan Ademola Adegoke (Pa Solution), thanked the association for recognising his contributions to students and humanity.
Describing the honour as a challenge to do more, he reaffirmed his commitment to serving the people.
“Indeed, I dearly use this medium to appreciate the current leadership of NANS Zone-D, capaciously led by our own valued brother and esteemed comrade, Owolewa Taiwo. Thank you for this wonderful meritorious ‘Award of Honour’ that was bestowed on me in recognition of my invaluable contributions and meritorious service to NANS Southwest (Zone D) as a leader and former coordinator of the zone.
“I remain pro-people, and I promise to do more.
“I’m humbled by your encomiums and acts of honour. Of course, this award is a testament to my selfless service to the people, and it is dedicated to all my fellow constituents of Ibadan North Federal Constituency and all my supporters at home and in the diaspora. Thank you all.”
Adeyemo, a renowned pan-African activist and communication professional, has been a pillar of support for student activism and youth empowerment, making him a celebrated figure in the Nigerian student movement.
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Afenifere Chieftain, Pa Ayo Adebanjo, Passes Away at 96
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Elder statesman and Afenifere leader, Pa Ayo Adebanjo, has passed away. The renowned nationalist died peacefully on Friday morning at his residence in Lekki, Lagos, at the age of 96.
His family confirmed the development in a statement, expressing gratitude for a life dedicated to the service of God, the nation, and humanity.
“With a heart full of gratitude for a selfless life spent in the service of God, the nation, and humanity, we announce the passing on of our beloved patriarch, Chief Samuel Ayodele Adebanjo,” the statement read.
“The foremost nationalist, elder statesman, distinguished lawyer, very distinct politician, apostle of true federalism, former organising secretary of the Action Group, and national leader of Afenifere is survived by his 94-year-old wife, Chief Christy Ayo-Adebanjo, children, grandchildren, and great-grandchildren.
“We will forever cherish his commitment to fighting for truth, equity, and justice. His belief and struggle for a truly independent and progressive Nigeria was total, and this he fought for until he breathed his last.”
The family noted that consultations are ongoing with Pa Adebanjo’s associates, political allies, and various interest groups to plan a befitting funeral. Details of the burial arrangements will be announced in due course.
Meanwhile, a condolence register has been opened at his Lagos residence (8, Ayo Adebanjo Close, Lekki Phase 1) and his country home in Isanya Ogbo, near Ijebu-Ode, Ogun State.
Pa Adebanjo was a towering figure in Nigeria’s political history, known for his unwavering advocacy for true federalism, democracy, and justice. His passing marks the end of an era in Yoruba and Nigerian politics.
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