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THE TONY ELUMELU FOUNDATION CONVENES AFRICA’S LARGEST GATHERING OF ENTREPRENEURS

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THE TONY ELUMELU FOUNDATION CONVENES AFRICA’S LARGEST GATHERING OF ENTREPRENEURS

  • 2ND ANNUAL TEF ENTERPRENEURSHIP FORUM OPENS IN LAGOS, NIGERIA
  • NEARLY 1,000 AFRICAN ENTREPRENEURS FROM 54 COUNTRIES ATTENDING

 

Lagos, Nigeria, October 28, 2016 – Today, The Tony Elumelu Foundation (TEF) opened the 2nd TEF Entrepreneurship Forum – the largest gathering of African entrepreneurs and the highlight of the annual TEF Entrepreneurship Programme.

 

The Forum celebrates the 2016 cohort of Elumelu Entrepreneurs – selected from over 45,000 applicants in 54 African countries – and their completion of the Programme’s innovative 12-week online training. On completing the programme Elumelu Entrepreneurs become members of the largest entrepreneurial alumni network in Africa.

 

“The TEF Forum is the centrepiece of the TEF Entrepreneurship Programme, and through it, we are giving from the perspective of empowering the recipient, instead of making them dependent on us,” explained Tony O. Elumelu, CON. “As a result, our entrepreneurs will change the face of Africa, creating a wave of dynamic African businesses, bringing wealth to their communities and countries, and driving economic growth across the whole continent.”

 

As part of the TEF Entrepreneurship Programme’s 10-year, $100 million commitment, participants are now eligible to receive up to $10,000 seed capital to implement their business plans. Elumelu Entrepreneurs represent sectors as diverse as agriculture and fashion. Thirty-six per cent of those chosen were women, a significant increase on the first year’s twenty-four per cent. Entrepreneurs range from 18 to 54 years old.

 

TEF CEO Parminder Vir OBE said: “We are proud to have established a uniqueplatform for African entrepreneurs to forge relationships and business partnerships. In doing so, we are creating an ecosystem that fosters innovation and collaboration, on a scale few believed possible.”

 

The Forum allows entrepreneurs to share and gain knowledge, build cross border partnerships, and connect with investors and policymakers. The first day features plenary panels, masterclasses, TED-style talks and sector specific networking opportunities. The second day is a policy-led gathering, focused on improving the enabling environment.

 

The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.

 

Press Kit: http://tonyelumelufoundation.org/teep/media/teep-2016-press-kit/

Documentary: http://bit.ly/TEEPdocumentary

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Diezani challenges EFCC’s forfeiture orders, demands return of seized property

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The Former Minister of Petroleum, Diezani Alison-Madueke, on Monday urged the Federal High Court in Abuja to order the Economic and Financial Crimes Commission to retrieve her seized assets from their current buyers.

The former minister specifically requested that the court direct the anti-graft agency to recover the seized properties from the individuals or entities to whom they were sold.

Alison-Madueke made this request through an amended application filed on her behalf by her lawyer, Chief Mike Ozekhome (SAN), before Justice Inyang Ekwo.

She sought an order to set aside the EFCC’s public notice, which served as the basis for the public auction of her assets.

She further asked the court to declare the public auction conducted by the EFCC as a violation of statutory provisions, including the EFCC Act of 2004 and the Proceeds of Crime Recovery and Management Act of 2022.

Alison-Madueke argued that the auction breached her right to fair hearing as guaranteed under Section 36(1) of the 1999 Constitution (as amended).

Additionally, she sought an order restraining the EFCC from disposing of her properties as listed in the public notice and asked the court to vacate the notice issued by the EFCC, which was based on various judgments and orders in favor of the agency.

She contended that the final forfeiture orders issued against her properties violated her proprietary rights due to a lack of jurisdiction and denial of fair hearing.

The former minister also requested an extension of time to seek the court’s leave to vacate, discharge, or set aside the public notice issued by the EFCC.

The EFCC had announced in a public notice that Alison-Madueke’s assets were up for sale between January 9 and January 13, 2023. Following this announcement, Alison-Madueke initiated legal action against the EFCC.

In an originating motion marked FHC/ABJ/CS/21/2023, filed on January 6, 2023, she sought an extension of time to apply for an order to set aside the public notice and prevent the auction of her assets.

However, in a counter-affidavit filed on March 14, the EFCC urged the court to dismiss the suit.

The affidavit, deposed to by litigation officer Oyakhilome Ekienabor, refuted several claims made by Alison-Madueke.

Ekienabor stated that extensive investigations into the former minister’s activities during her tenure had led to criminal proceedings against her in various courts, including the Federal High Court.

He cited charges filed in 2017 and 2018 as part of the evidence against her and explained that the properties were sold in compliance with final forfeiture orders issued by the Federal High Court on July 9, 2019, and September 10, 2019.

According to Ekienabor, these forfeiture orders were not issued in violation of Alison-Madueke’s rights to fair hearing, and the properties were disposed of in accordance with due process.

“The cases leading to the forfeiture orders were actions in rem, and the decisions are binding on all,” he said.

He added that during the forfeiture proceedings, the court had instructed the EFCC to publish a notice inviting interested parties to show cause why the properties should not be forfeited.

Ekienabor further stated that Alison-Madueke was represented during one of the proceedings, but the court ultimately issued the final forfeiture orders after considering submissions made by her counsel.

Justice Ekwo, on February 17, granted the former minister’s request to amend her suit following a motion by her counsel, Godwin Iyinbor.

At the resumed hearing on Monday, Iyinbor informed the court that an amended originating motion had been filed and served on the EFCC on February 20. He requested an adjournment to respond to the commission’s counter-affidavit, which was filed on March 14.

Justice Ekwo emphasized the need to expedite the case, considering its long duration since it was filed in 2023.

The EFCC’s counsel, Divine Oguru, apologized for the delay in responding and assured the court of readiness at the next hearing.

“We will be ready to go on in the next adjourned date my lord,” he said

The judge subsequently adjourned the matter to March 27 for hearing.

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Shuaibu: Obaseki duped me of $300,000 in guise of lobbying PDP leaders for ticket

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Philip Shuaibu, a former deputy governor of Edo State, has alleged that ex-Governor Godwin Obaseki defrauded him of $300,000.

In a recent interview with The Sun, Shuaibu claimed that Obaseki took the money under the pretense of lobbying party leaders ahead of their defection to the Peoples Democratic Party (PDP).

“When the issue of moving to PDP arose and the debate was about what the party would gain, I told him to go ahead, even if it meant sacrificing the deputy governor slot,” Shuaibu stated.

He further revealed: “I contributed $300,000. He told me he was adding it to $700,000 to lobby leaders in Port Harcourt, but we later found out from the zonal PDP Chairman that no such money was given.”

Expressing frustration, Shuaibu added, “He duped me. It took me seven months to repay the money in installments. I had to raise the alarm because I was repaying a debt for money that was never used. Till today, he hasn’t returned it.”

He named key PDP figures, including Chief Dan Orbih and Ogbeide-Ihama, as witnesses to the situation.

Obaseki and Shuaibu were once political allies but have been embroiled in a prolonged political battle.

Their fallout began after the 2020 Edo State gubernatorial election when tensions over succession planning emerged. Shuaibu, who had been loyal to Obaseki, reportedly sought to succeed him in 2024, but Obaseki resisted the move. This led to public clashes, allegations, and Shuaibu’s impeachment in 2024.

However, in a dramatic turn of events, the court later reinstated Shuaibu, declaring his removal unconstitutional. The ruling intensified the political crisis in Edo State, further widening the rift between the two former allies.

Despite Obaseki’s efforts to maintain political control, his anointed candidate, Asue Ighodalo, lost the Edo State governorship election to Monday Okpeboloh, the candidate of PDP.

The defeat marked a major political setback for Obaseki, further weakening his influence in the state’s political landscape.

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Former Lagos PDP Governorship Candidate Jandor Set To Join APC

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Dr. Olajide Adediran, popularly known as Jandor, a former Lagos State governorship candidate of the Peoples Democratic Party (PDP), is reportedly set to join the ruling All Progressives Congress (APC) today (Monday).

According to The Nation, Jandor has finalised plans to defect to the APC just two weeks after resigning from the PDP.

Reports indicate that the former Lagos PDP chieftain will formally announce his defection at a scheduled press conference at his campaign office in Ikeja.

 

Jandor had recently held consultations with President Bola Tinubu, former Vice President Atiku Abubakar, and other political figures following his resignation from the PDP.

 

His spokesperson, Gbenga Ogunleye, confirmed in a statement last Thursday that the meeting with the President took place on Monday.

 

The statement read, “I can confirm that Dr Abdul-Azeez Olajide Adediran Jandor met with President Bola Tinubu on Monday (last week).

 

“He has earlier met with Vice President Atiku Abubakar, former President Ibrahim Babangida, former Head of State, Gen. Abdusalami Abubakar, the presidential candidate of the SDP in the 2023 general elections, Prince Adewole Adebayo, among other prominent national leaders. It is part of his ongoing consultation after his resignation from the Peoples Democratic Party.

 

“The National Secretary of the PDP and other leaders of the party also visited him recently to appeal for the reconsideration of his resignation from the PDP.

 

“Dr Adediran will meet with his political associates and critical stakeholders in Lagos over the weekend and address the media by Monday, 17th March 2025.”

 

Adediran was the governorship candidate of the PDP in the 2023 Lagos State governorship election. He emerged as the party’s candidate after defeating other aspirants in the primaries.

 

Jandor, a former APC member and founder of the Lagos4Lagos Movement, had presented himself as a fresh alternative to the long-standing APC government in Lagos.

 

To bolster his chances and appeal to a broader electorate, he chose popular Nollywood actress and producer Funke Akindele as his running mate.

 

Akindele’s selection was strategic, aiming to leverage her massive influence in the entertainment industry and among Lagos’s youth and urban voters. However, their campaign faced significant challenges, including internal party conflicts.

 

Despite their efforts to present a strong opposition, the Jandor-Akindele ticket was unsuccessful in unseating the APC government. They finished behind both the incumbent governor, Sanwo-Olu, and Gbadebo Rhodes-Vivour of the Labour Party.

 

In March 2023, the Independent National Electoral Commission (INEC) declared Sanwo-Olu as the winner of the March 18 Lagos governorship election.

 

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