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Tony Elumelu Foundation To Host The Largest Gathering of African Entrepreneurs

Gbemileke Ajayi

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The Tony Elumelu Foundation (TEF), Africa’s foremost champion of entrepreneurship, will host its 5th Annual Forum — the largest annual gathering of African entrepreneurs – on July 26 – 27, 2019. The two-day event will take place at the iconic Transcorp Hilton Hotel, Abuja.

The Forum is the culmination of the annual Tony Elumelu Foundation Entrepreneurship Programme, which this year mentored, trained and seeded over 3,000 young Africans, selected from over [216,000] applicants.  The event provides a unique opportunity for young women and men, from all 54 African countries, to meet, learn and network with the broader African and global entrepreneurship ecosystem. It is also a critical opportunity for political leaders and policy makers to meet, face to face, a new generation of African business leaders, who are transforming Africa’s economic trajectory.

Keynote speakers at the highly anticipated Forum include His Excellency Paul Kagame, President of Rwanda, and His Excellency Macky Sall, President of Senegal, who will join Tony O. Elumelu, CON, TEF Founder and Chairman of Heirs Holdings and the United Bank for Africa (UBA) in an intimate open house discussion. The Presidential Convening is a highlight of the Forum,  allowing the African entrepreneurs in attendance to closely engage with political leaders, to give first hand testimony of the important role government can play in catalysing growth and encouraging business ambition.

The Forum agenda includes masterclasses and panel discussions with leading speakers and sector experts, from Africa and globally, who will engage attendees in specialised training sessions to share insights, deepen their knowledge and refine their skills. The Forum will also feature a pitching event, where select entrepreneurs will deliver exciting presentations on the goods and services they provide to a distinguished judging panel.

For first time the Forum will be hosted in Abuja, the Federal Capital of Nigeria and will bring together leading policymakers, business leaders, development agencies and the entire entrepreneurship ecosystem including alumni of the Foundation’s Entrepreneurship Programme. Last year, a significant highlight was the launch of TEFConnect, the digital networking platform for African entrepreneurs, which provides a unique digital hub for the African entrepreneurship, facilitating networking, mentorship and most importantly business beyond borders. Previous Forums have been headlined by African leaders, including President of Ghana, HE Nana Akufo-Addo, President of Kenya, HE Uhuru Kenyatta, Former President of Nigeria, HE Olusegun Obasanjo, Former Prime Minister of Benin and TEF Advisory Board Member, HE Lionel Zinsou, Vice President of Nigeria, HE Prof. Yemi Osinbajo. 

The Tony Elumelu Foundation’s determination to bring change in scale, across Africa and its relentless focus on entrepreneurship is rooted in the inclusive philosophy of Africapitalism, created by its Founder, which recognizes economically empowering Africa’s youth — the continent’s future wealth creators — and thereby creating sustainable economic and social wealth, as one of the most pressing issues of the 21st century. In 2015, the Foundation committed $100 million to empower 10,000 entrepreneurs from across the continent, over 10 years. Now in the 5th year, the Foundation has funded, mentored and provided business management training to over 7,500 start-ups and small businesses, from all 54 countries in Africa.

“The TEF Entrepreneurship Forum will not just convene the most important stakeholders in the African entrepreneurship ecosystem, it provides an opportunity for everyone to make a commitment to advance entrepreneurship and scale the impact of our entrepreneurs if we are to accelerate the development of the continent,” TEF CEO, Ifeyinwa Ugochukwu said.

She added: “We are constantly inspired by the stories we receive from our entrepreneurs who are creating jobs, employing people and impacting their local communities and ultimately, the continent. We believe that these entrepreneurs are our future. Invest in them now and reap the Africa of our dreams tomorrow. This is what we are committed to.”

For more information on the Forum, please visit www.tonyelumelufoundation.org.

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James Hope College Celebrates Its First Graduation Ceremony

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The James Hope College (JHC) recently marked a milestone in its history. From the Founders’ Dinner on Friday, 28 June 2019 to the Graduation Ceremony on Saturday, 29 June 2019, the college celebrated its pioneer graduating set.

The Founder/Chairman of Zenith Bank Plc, Mr. Jim Ovia who is also, the Founder/Chairman of James Hope College, while giving the Founder’s Address, described the graduating set as one that has spurred growth in academics and co-curricular activities for the College. According to him, from their impressive 100% score (A* – C) recorded in 14 subjects of the IGCSE to the Duke of Edinburgh award, the graduates have set the bar for other students to scale.

Mr. Ovia also awarded full scholarships to the outgoing Head Boy and Head Girl to the University they have gained admission into, as well as scholarships to all graduates to study in government and state-owned tertiary institutions in Nigeria. Co-Founder of the College, Mrs. Kay Ovia, encouraged the students to uphold the ethos they inculcated while in school and continually strive to be better versions of themselves.

The Principal of the College, Mr. Abraham Swart, also commended the tremendous contribution of the Founders to the development of the college, adding that the students have been given the right foundation to soar.

Other notable personalities in attendance were Former VC of the University of Lagos, Prof. Oye Ibidapo-Obe and Former Visiting Professor of Pharmacology at the University of Tennessee, Memphis, Prof. L. F. O. Obika. The graduation dinner was graced with performances from celebrities like Folarin Falana (aka FalzTheBahdGuy), Otolorin Kehinde Peter (aka Kenny Blaq) and BisolaAiyeola.

James Hope College is one of the educational initiatives of the Jim Ovia Foundation, which offers its students world-class education at a subsidized rate. James Hope College is supported by an endowment fund and currently has 40% of its students on a full scholarship. It is located in the serene environment of Agbor, Delta State. Visit JHC online to learn more.

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I Slept With My Brother-In-Law Thinking It Was My Husband —- Woman Tells Court

Gbemileke Ajayi

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A trader, Mrs Kuditat Ajayi, 52, told an Igando Customary Court that she slept with her brother-in-law because she thought he was her husband.

Ajayi’s husband, Akande is seeking the dissolution of their 35-year-old marriage, accusing her of infidelity, NAN reports.

”I was in bed in the night when my husband’s younger brother came to the house my husband rented for me.

“I thought it was my husband who normally comes to the house at that particular time between 9 p.m. and 10 p.m. to play and sleep with me.

“It was after he finished making love to me that I realized that he was not my husband.

“When I queried him, he claimed that my husband had traveled that was why he came to have sex with me.

“I reported the case to my brother’s wife, who advised me not to tell my brother so that peace can reign in the family.”

The respondent said that her husband treats the children of the other wives better than hers.

The mother of four denied being fetish as claimed by husband.

Ajayi prayed the court not to grant her husband’s wish for the dissolution of their marriage that she still love him.

The petitioner, Akande approached the court to terminate his 35-year-old marriage accusing wife of infidelity.

He said that his wife was wayward and adulterous that her man friend was claiming paternity of one of their children.

“When I married her, I rented an apartment for her because I have other wives and I don’t want them to live together.

“I started hearing from people in the area that my wife was having affair with a man, initially I ignored it until her lover came claiming ownership of one of my children.

“The man eventually came to the house but I refused to open the door for him.

“When I questioned my wife, she confessed that the man slept with her but it did not result in pregnancy.”

The 71-year-old businessman said that his wife was fetish.

“I once caught her burying something in my compound, I accosted her and tried to remove what she buried there but I could not.

“I went out before I returned, she had cemented the place.”

He begged the court to end the marriage that he was no longer interested that the love he once had for her husband had faded.

The president of the court, Mr Adeniyi Koledoye, urged the two parties to maintain peace and adjourned the case until August 22 for judgment.

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Again, Oando Floors Securities Exchange Commission

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Again leading oil and gas company, Oando has floored Securities Exchange Commission, SEC as Justice Ayokunle Faji, sitting at a Federal High Court in Lagos, Friday, 5  July 2019 granted leave to Oando Plc to file a motion for a judicial review of the SEC’s decision imposing a fine of N89,675,000 on it.

Justice Faji, granted “an order of certiorari bringing up to the Federal High Court for the purpose of being quashed, the decision of the first respondent (SEC) contained in its letter dated 31st May 2019”.

SEC Acting Director-General Mary Uduk, SEC and Mutiu Sunmonu, who was appointed as Oando’s interim head, are the first to third respondents. 
 

The court also granted an order of certiorari for the quashing of SEC’s directive to Oando to convene an extraordinary general meeting on or before July 1 to appoint new directors and articulate remedial measures for alleged corporate governance lapses.  The court further granted an order of certiorari for the quashing of a press release by SEC on June 1 appointing an interim management team to be headed by Mr Mutiu Sunmonu (the third respondent) to oversee Oando’s affairs.

The judge granted “an order of prohibition and/or an injunction restraining and preventing the first and second respondents by themselves, agents, servants or whomsoever, howsoever from enforcing or seeking to enforce the decision contained in the letter dated 31 May 2019.”

Justice Faji also granted “an order of prohibition and/or an injunction restraining and preventing the second respondent from enforcing or seeking to enforce the decision of the first respondent contained in the press release made on Sunday, 2 June, 2019 appointing an interim management team to be headed by the third respondent to oversee the affairs of the applicant.”

The court made “a declaration that the first and second respondents acted ultra vires and without jurisdiction in making the decision contained in the letter of 31 May 2019 which conveyed the imposition of a fine of N89,675,000 on the applicant…”

Also granted was “an order directing that the leave sought herein if granted shall operate as a suspension and or stay of the decision of the first respondent contained aforesaid in its letter of 31 May 2019 as it relates to the applicant and as contained in the press release made on 2 June 2019 appointing an interim management team to be headed by the third respondent.”

Justice Faji directed Oando to ensure service on the respondents of the order and the application for judicial review within 48hours. 

He adjourned until July 22 for the hearing of the application for judicial review before the vacation judge. SEC had on May 31 announced the conclusion of an investigation of Oando and ordered its Group Chief Executive Officer, Mr Wale Tinubu, his deputy Mr Omamofe Boyo, and other affected board members to resign. It barred Tinubu and Boyo from being directors of public companies for a period of five years.

SEC subsequently set up an interim management team headed by Sunmonu to oversee Oando’s affairs and to conduct an Extraordinary General Meeting on or before July 1.

In an ex-parte application filed through their counsel, Olasupo Shasore (SAN), Tinubu and Ojo prayed for an order of certiorari to quash SEC’s purported imposition of N91,125,000 fine on Tinubu.

The application was granted. Oando, also through Shasore, filed the latest application seeking for judicial review of the SEC decisions against it with a view to quashing them, which Justice Faji granted

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