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Private Equity Africa Honours Papa Ndiaye of AFIG Funds
By Modupe Gbadeyanka
Chief Executive Officer (CEO) of AFIG Funds, Mr Papa Ndiaye, has been announced winner of the 2018 Outstanding Leadership Award.
He was bestowed with this honour at a ceremony organised by the Private Equity Africa (PEA) in London last 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 honour 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 Mr Ndiaye.
“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,” he added.
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.
Ms 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,” Ms Mwamba said.
Mr Ndiaye 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, Mr Ndiaye 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.
General
Nigeria Confirms US Airstrikes On ISWAP Targets in Sokoto
By Adedapo Adesanya
Nigeria’s Ministry of Foreign Affairs has confirmed that the latest United States airstrikes on Islamic State West African Province (ISWAP) targets in northwest Nigeria were conducted at the request of the Nigerian government.
According to reports, the US struck at ISWAP targets in Jabo, Sokoto State, on Christmas night.
The ministry described the operation as a product of established counterterrorism cooperation between both countries.
In a press statement issued on Friday, the Ministry said the strikes were “undertaken following formal engagement and with the full knowledge and coordination of the Government of the Federal Republic of Nigeria.”
“The Government of Nigeria wishes to clarify that the airstrikes conducted by the United States against Islamic State elements in parts of northwest Nigeria were carried out at the request of Nigerian authorities and in line with existing bilateral security cooperation frameworks,” the statement said.
The Ministry stressed that Nigeria “remains firmly in control of all counterterrorism operations within its sovereign territory,” adding that international partners only provide support “where such assistance aligns with Nigeria’s national security objectives.”
According to the statement, the strikes form part of Nigeria’s broader strategy to “degrade terrorist capabilities, disrupt logistics networks, and protect civilian populations from violent extremist threats.”
The Foreign Ministry further emphasised that the federal government “will continue to work with trusted international partners to confront terrorism, banditry, and transnational criminal networks that threaten national and regional stability.”
Reacting to concerns around sovereignty, the Ministry said:
“At no time was Nigeria’s sovereignty compromised. All actions were conducted with due respect for Nigeria’s laws, institutions, and command structures.”
The statement also cautioned against mischaracterising Nigeria’s security challenges, noting that extremist violence “has affected communities across religious and ethnic lines and should not be framed in sectarian terms.”
Nigeria reaffirmed its commitment to a multi-layered response combining military operations, intelligence sharing, community engagement, and socio-economic interventions, adding that counterterrorism efforts remain focused on protecting lives and restoring stability.
The US Africa Command (AFRICOM) said the strikes were carried out in Sokoto State and that multiple militants were killed.
US President Donald Trump described the strikes as “powerful and deadly,” saying they were directed at Islamic State militants responsible for violent attacks on Christians in Nigeria.
The Nigerian government has clearly denied that only Christians are affected by the killings, saying the terror spread across all faiths.
Meanwhile, US Defence Secretary Pete Hegseth has warned that “more to come” as part of sustained efforts against extremist groups.
General
US Strikes Terrorists in Sokoto on Trump’s Directive (VIDEO)
By Aduragbemi Omiyale
The United States government gave some terrorists in Nigeria a Christmas gift that sent many of them to the great beyond.
On Thursday, December 25, 2025, the United States President, Mr Donald Trump, directed his country’s military to launch air strikes on camps of members of the dreaded Islamic State in Iraq and Syria (ISIS) in Sokoto State.
According to Mr Trump, the military action, which he threatened to carry out a few weeks ago if the Nigerian government does not stop the killing of Christians in the country, occurred on Thursday night.
“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even Centuries!
“I have previously warned these Terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.
“The Department of War executed numerous perfect strikes, as only the United States is capable of doing.
“Under my leadership, our country will not allow radical islamic terrorism to prosper. May God bless our military, and Merry Christmas to all, including the dead terrorists, of which there will be many more if their slaughter of Christians continues,” Mr Trump wrote on his Truth Social platform.
In a video on X, formerly known as Twitter, the Department of War of the United States posted the below video of the air strikes;
https://twitter.com/DeptofWar/status/2004351717131903272
General
Gbajabiamila Remains President Tinubu’s Chief of Staff—Presidency
By Modupe Gbadeyanka
The presidency has reacted to speculations that Mr Femi Gbajabiamila has been removed as the Chief of Staff to President Bola Tinubu.
It was alleged that Mr Gbajabiamila has been replaced with the President’s Principal Private Secretary, Mr Hakeem Muri-Okunola.
Mr Muri-Okunola went to Abuja to take up this role after leaving as the Head of Service of the Lagos State Civil Service.
Reacting to the reports on social media on the purported removal of Mr Gbajabiamila, a former Speaker of the House of Representatives, the presidency said no such change has been made.
In a statement signed on Thursday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, members of the public were advised to disregard the report as “there is absolutely no truth to this story.”
“The Chief of Staff remains in his position. The Principal Private Secretary likewise remains in his role. Hakeem Muri-Okunola has not replaced Femi Gbajabiamila as Chief of Staff.
“The viral claim is a fabrication by mischievous purveyors of fake news whose sole aim is to create disharmony within the government.
“We reiterate that news media should always verify their information before publishing or sharing on social media,” the statement said.
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