[1] The awards are intended to celebrate young people between the ages of 18 and 31, who have made outstanding achievement in the year under consideration.

[9][10] The audit committee includes Katja Schiller Nwator (Leadership Development and CSR Manager, The Tony Elumelu Foundation), Mahamadou Sy (founder and executive director of the Institut Supérieur de Développement Local (ISDL), Senegal), Wendy Luhabe (author), Abiola Alabi (MD, MNet Africa), Tonye Cole (executive director, Sahara Group), Ndidi Nwuneli (founder, LEAP Africa), Mo Abudu (CEO, EbonyLife TV), Gbenga Sesan (founder, Paradigm Initiative Nigeria), Eikem Nutifafa (founding partner, Oxford and Beaumont, Ghana), Chi-Chi Okonjo (publisher, Ventures Africa), Victoria Trabosh (founder, Ithafari Foundation), Taa Wongbe (managing partner The Khana Group), Ayo Ajayi (MD, PATH Global) and Jennah Scott (director, Liberia Philanthropy Secretariat, Office of the President).

[11] The awards are presented at a live televised ceremony that is also streamed on the internet, most commonly in February or March following the relevant calendar year, and six weeks after the announcement of the final shortlist of nominees.

[14] In 2009, an email exchange between a dancer and a former winner of the award, Qudus Onikeku and Chude, leaked on the Sahara Reporters website,[15] as the former sought to clarify comments he had made about the Young Person of the Year Award given to D'banj, in the year after his win, against the backdrop of the musician's controversial video for "Suddenly".

[16] In February 2013, its founders, Chude Jideonwo and Adebola Williams, were both named in Forbes' 30 Under 30: Africa's Best Young Entrepreneurs.