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TONY ELUMELU FOUNDATION SELECTS 1,000 ENTREPRENEURS FOR 2018 PROGRAMME – RED CROSS, UNDP & INDORAMA PARTNERSHIPS SUPPORT FURTHER 250 BENEFICIARIES – RECORD 151,692 REGISTRATIONS

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More than 150,000 Africans from 114 countries worldwide applied to join the 4th ‎cycle of The Tony Elumelu Foundation’s (TEF) 10-year, $100 million TEF Entrepreneurship Programme. Today, the Foundation announced the African entrepreneurs with the most innovative, high-potential business ideas.

The 2018 cohort includes an additional 250 entrepreneurs to the standard selection of 1,000 – thanks to: a $1,000,000 partnership with the International Committee of the Red Cross (ICRC) to support 200 entrepreneurs in conflict and fragile zones of Nigeria (the North East where the Boko Haram scourge is felt and the Niger Delta region which suffers environmental degradation from oil spillage) a $200,000 agreement with the United Nations Development Programme (UNDP) to support 40 pan-African entrepreneurs; and a $50,000 partnership with Indorama to support 10 Nigerians.

TEF Founder, Tony O. Elumelu, CON, commented : “The number and quality of applicants, 151,000 ‎ in total, was outstanding – it illustrates the strength and depth of entrepreneurial promise and commitment on our continent. Selection is never easy, and we profoundly regret that we cannot help all. Our partnerships with the Red Cross, UNDP and Indorama, alongside ongoing discussions with other international organizations, reflect the growing global recognition of what we have known all along – that entrepreneurship is the most effective path to sustainable development on our continent and our Programme is the model to follow.”

There was a near 50-50 split between male and female applications, ‎reflecting the entrepreneurial ambition of Africa’s women. Agriculture was the leading sector among selected entrepreneurs at 30.5%, followed by technology (10.5%) and Education&training (9%).

TEF CEO, Parminder Vir OBE, said: “Over the next nine months, the entrepreneurs will receive online training and mentoring, and will use the skills acquired to develop business plans prior to receiving $5,000* in seed capital. This will bring TEF’s total Programme investment so far to $15 million in direct funding to entrepreneurs and $5.8 million in Programme & technology development and operations.

Our beneficiaries have created more than 55,000 jobs and counting, and will convene from across all of Africa’s 54 countries to Lagos this October for the TEF Forum – the largest gathering of African entrepreneurs in the world.‎

For a list of the selected 2018 Tony Elumelu Entrepreneurs and information on our applicants, please visitwww.tonyelumelufoundation.org

* $5,000 seed capital is calculated on the official Central Bank of Nigeria naira equivalent value at the date of selection for the programme.

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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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