News
Dangote Made $9.2Bn in 2013, Bill Gates is World’s Richest

Aliko Dangote, Africa’s richest person and founder of Dangote Group, one of the continent’s largest conglomerates, added $9.2 billion during the year.
He’s the 30th-richest person in the world. His fortune is now well over $30billion.
Bloomberg’s billionaire’s index showed that the 300 richest people in the world increased their deep pockets with $524 billion.
But Bill Gates , the man who is the most generous giver on earth, is also the richest individual, according to the Bloomberg report.
Gates net worth ballooned by $15.8 billion to $78.5 billion, according to the index, as shares of Microsoft, the world’s largest software maker, rose 40 percent in 2013.
Bloomberg said that the 58 year-old software tycoon recaptured the title of world’s richest person on May 16 from Mexican investor Carlos Slim.
Gates’s fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co. and sanitizing-products maker Ecolab Inc., which rose 34 percent and 45 percent respectively.
Gate’s increasing wealth is typical of the experience of the world’s richest in 2013. Bloomberg says the world’s richest even got richer, in a trend that will further sadden the world’s poorest as the rich take everything away.
“The aggregate net worth of the world’s top billionaires stood at $3.7 trillion at the market close on Dec. 31, according to the ranking. The biggest gains came in the technology industry, which soared 28 percent during the year. Of the 300 people who appeared on the final ranking of 2013, only 70 registered a net loss for the 12-month period.
“The rich will keep getting richer in 2014,” John Catsimatidis, the billionaire founder of real estate and energy conglomerate Red Apple Group Inc., said in a telephone interview from his New York office. “Interest rates will remain low, equity markets will keep rising, and the economy will grow at less than 2 percent.”
Most of Gates’s assets are held in Cascade Investment LLC, an entity through which he owns stakes in about three dozen publicly traded companies and several closely held businesses, including Four Seasons Hotels and Resorts and Corbis Corp., a photo-archive company. Less than a quarter of Gates’s fortune is held in Microsoft. He’s donated $28 billion to the Bill & Melinda Gates Foundation.
Global stocks soared in 2013 for the best annual gain since 2009, with the MSCI World Index advancing 24 percent during the year to close at 1,661.07 on Dec. 31.
The Standard and Poor’s 500 Index rose 30 percent to close at 1,848.36, its best yearly gain since 1997. The Stoxx Europe 600 gained 17 percent to close at 328.26.
Companies in the S&P 500 are worth $3.7 trillion more today than they were 12 months ago following a year when Federal Reserve Chairman Ben S. Bernanke signaled the curtailment of economic stimulus.
The bull market, born at the depths of the credit crisis, enters its sixth year fueled by near-zero interest rates and conviction among investors that it’s finally safe to own equities again.
News
SERAP Sues INEC Over Alleged ₦55.9Bn Election Funds Diversion

Socio-Economic Rights and Accountability Project (SERAP) has dragged the Independent National Electoral Commission (INEC) to court over the alleged failure to account for ₦55.9 billion reportedly meant for the procurement of election materials for the 2019 general elections.

The grave allegations are documented in the latest annual report published by the Auditor-General on 9 September 2025.
In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel INEC to account for the missing or diverted N55.9 billion meant to buy smart card readers, ballot papers, and other election materials for the 2019 general elections.”
SERAP is also seeking: “an order of mandamus to direct and compel INEC to disclose the names of all contractors paid the N55.9 billion for the procurement of smart card readers, ballot papers, result sheets, and other election materials for the 2019 general elections, including the names of their directors and shareholders.”
In the suit, SERAP is arguing that: “INEC must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”
SERAP is also arguing that, “INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered.”
According to SERAP, “INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.”
SERAP is also arguing that, “These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law.”
SERAP also said, “Allegations of corruption in the supply of smart card readers, ballot papers, result sheets and other election materials directly undermine Nigerians’ right to participate in elections that are free, fair, transparent, and credible.”
The lawsuit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Kehinde Oyewumi, and Andrew Nwankwo, read in part: “These grim allegations by the Auditor-General suggest a grave violation of the public trust, the Nigerian Constitution 1999 [as amended] and international anticorruption standards.”
“According to the recently published 2022 audited report by the Auditor General of the Federation (AGF), the Independent National Electoral Commission (INEC) ‘irregularly paid’ over N5.3 billion [N5,312,238,499.39] ‘to a contractor for the supply of Smart Card Readers for the 2019 general elections’.
“The contract was awarded without prior approval from the Bureau of Public Procurement (BPP) and the Federal Executive Council. The payment was also ‘made without any document. There was no evidence of supplies to the commission.’”
News
FG Inaugurates N40Bn CCTV Control Centre for Third Mainland Bridge

Federal government has inaugurated a ₦40 billion closed-circuit television (CCTV) control centre for the Third Mainland Bridge in Lagos.

Speaking at the inauguration on Sunday, David Umahi, minister of Works, said the project followed extensive rehabilitation works carried out on the bridge after the current administration took office in 2023.
“When we came on board in 2023, we met a very terrible Third Mainland Bridge,” Umahi said, adding that the structure, along with Carter and Iddo bridges, required comprehensive re-evaluation and repairs both above and below water level.
He said President Bola Tinubu approved the total rehabilitation of the bridge, including replacement of expansion joints, noting that the completed work had improved driving conditions and extended the bridge’s lifespan.
Umahi said the CCTV system, first announced in 2025, was designed to curb dangerous driving, prevent suicide attempts and strengthen security.
He added that security personnel would monitor live footage from the control centre and enforce speed limits on the bridge.
The minister commended the China Civil Engineering Construction Corporation (CCECC), which executed the project, for what he described as high-quality delivery. He said the contract also included a surveillance boat and two Hilux vans, which would be handed over to the police to support monitoring and rapid response.
“The idea is that we can see everything that is happening on the bridge,” Umahi said, expressing concern over excessive speeding and urging motorists to comply with traffic regulations.
Earlier, Olufemi Dare, federal controller of works in Lagos, said the facility was the first of its kind on any bridge in Nigeria.
He said the system allows real-time monitoring of activities on the bridge and surrounding waters.
Dare said the project includes 240 solar panels, 10 inverters, a 300 KVA transformer, a standby generator, multiple monitoring screens and full air-conditioning for the control centre.
He added that the contract also covers 1,268 solar-powered street lights and a borehole facility.
According to Dare, the project was awarded at a cost of ₦40.17 billion, with about ₦36 billion paid so far to the contractor. He said the current inauguration marked the first phase, with additional commissioning planned once work on the bridge’s extension is completed.
He thanked the president for approving the project and praised Umahi for ensuring due process during its execution.
News
AI Founders and Developers to Converge in Lagos for AI in Action 2026 conference

As Africa stands at the threshold of a digital revolution, Carbon AI has officially announced the AI in Action 2026 conference, scheduled for January 22, 2026, at the Lagos Oriental Hotel.

In a statement in Lagos, Debola Ibiyode, Convener of AI in Action 2026 and CEO of Carbon AI, disclosed that the AI in Action 2026 conference aims to move beyond the typical industry hype to focus on practical, homegrown innovation under the theme: “Driving Productivity, Innovation, and Sustainability—Building the Future in AI Together.”
“AI in Action 2026 is designed as a high-impact platform where deep-tech innovation meets real-world application. The conference will specifically explore how Large Language Models (LLMs), Agentic AI Frameworks, and Generative AI can be harnessed to power Africa’s transformation,” she noted in the statement.
Debola also emphasizes that the time for mere discussion has passed, stressing that AI in Action 2026 is for people who want to do more than just talk about AI; it’s for those ready to build, apply, and lead.
“We aren’t chasing hype or funding; we are chasing real impact. Our mission is to empower budding founders to turn ideas into deployable solutions while championing responsible AI adoption that creates measurable social and economic change across the continent,” she added.
The statement explains that the conference features a curated experience designed to foster genuine collaboration. It includes keynote speeches and panels that offer deep dives into Generative AI, Agentic Frameworks, and their intersection with global sustainability.
Attendees can participate in practical workshops with hands-on sessions focused on building, deploying, and scaling AI tools. The event also features a startup and product showcase that highlights cutting-edge, African-built AI solutions.
Additionally, dedicated mentorship and networking sessions will connect early-stage founders with seasoned practitioners and industry leaders.
The event is a call to action for a diverse cross-section of the ecosystem, including Software and AI Engineers, Data Scientists, Business Leaders, Educators, Policymakers, Students, and ICT Infrastructure companies, enabling AI deployment, including datacenter providers. By bringing these groups together, the conference seeks to ensure the AI revolution is inclusive, ethical, and sustainable.
AI in Action 2026 Now offers tiered sponsorship packages for organizations looking to position themselves at the forefront of Africa’s technological future. Sponsors will gain direct access to a unique demographic of decision-makers and the next generation of AI talent.
“Africa’s digital revolution must be homegrown. Whether you’re building solutions, shaping policy, or mentoring young innovators, this is your platform. Together, we’re not just discussing the future, we’re building it,” she concluded.
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