The Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, Tony O. Elumelu, CON, has called on African leaders and development institutions to help address the deepening job and employment crisis bedevilling the continent by lending support and paying more attention towards the agricultural sector, creating access to electricity and developing entrepreneurship.
Elumelu who said this while speaking on the theme ‘How do we create 10 million jobs by 2020?’ at the Youth Connekt Africa Summit in Rwanda yesterday, opined that access to electricity and increased focus in the agricultural sector would enhance entrepreneurship and tackle the challenge of unemployment through the creation of more jobs in the continent.
Elumelu, a passionate advocate of entrepreneurship and Africapitalism, also upheld the notion that the private sector has the responsibility to play the lead role in contributing to job creation in Africa, and cited the example of the Tony Elumelu Foundation (TEF) and its various investments in these key areas, adding that this is visible from the $100million commitment towards supporting African entrepreneurs over the years.
He said, “Today we have businesses in 20 African countries and employ 30,000 people directly and 50,000 people indirectly. Agriculture, access to electricity and entrepreneurship have the potential to create more jobs in Africa”.
The TEF boss stated that Africa can be self-reliant and self-dependent if the right infrastructure and government support are put in place to boost these sectors. In this regard, he commended the effort of President Paul Kagame for his brilliant initiatives in the areas of entrepreneurship and attracting key investments to the African continent.
The President of the African Development Bank (AfDB), Akinwumi Adesina, who supported Elumelu’s stance, acknowledged that agriculture can create jobs for the teeming African population if youths approached the sector, not just as a way of life, but as a business.
He seized the opportunity to commend Elumelu for his work in entrepreneurship and pledged to support the work of the TEF in the creation of jobs. “I applaud Tony Elumelu’s work in entrepreneurship, because entrepreneurship is key. We will help to scale up what Tony Elumelu is doing. If others are doing same, we will succeed in Africa”.
The Rwandan Development Board also hosted Elumelu at a roundtable breakfast meeting with the Founder and Executive Chairman of Alibaba Group, Jack Ma to discuss investment opportunities in Afrcia.
The Youth Connekt Summit hosted by the President of Rwanda, H.E. Paul Kagame, gathered 2,500 invited guests from the private and public sectors.
The opening plenary session was moderated by Adeyemi Babington Ashaye, Head, Global Shapers Community, World Economic Forum; other panelists include; Akinwumi Adesina, President, African Development Bank; Vera Songwe, Executive Secretary, Economic Commission for Africa; and Diane Karusisi, CEO, Bank of Kigali.
Nigerian Government Drops Money Laundering, Cyberstalking Charges Against Sowore, Accuses Him Of Attempting To Pull Down Buhari’s Government In Fresh Charge
The Nigerian Government has amended the charges brought against rights activist and journalist, Omoyele Sowore, by dropping money laundering and cyberstalking from the case.
Counsel to the government, A. Aliyu, informed Justice Ijeoma Ojukwu of the Federal High Court, Abuja, of the development on Wednesday during the resumption of the trial, which was later adjourned until Thursday to accommodate the new charge against the defendant.
As a result, the Nigerian Government is now accusing Sowore of attempting to overthrow the administration of President Muhammadu Buhari through revolution.
The fresh charge reads, “That you Omoyele Stephen Sowore, Olawale Adebayo Bakare and others at large under the aegis of Coalition for Revolution sometimes in August 2019 in Abuja, Lagos, and other parts of Nigeria within the jurisdiction of this honourable court did conspire amongst yourselves to stage a revolution campaign on the 5th day of August 2019 tagged #RevolutionNow aimed at removing the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria during his term of office otherwise than by constitutional means.”
Recall that the government through the Department of State Services had on August 3 and 5, 2019 respectively arrested Sowore and Bakare in Lagos and Osun states for calling on Nigerians to take to the streets in peaceful demonstrations to demand a better country from the administration of President Buhari.
They were eventually released on bail in December after months of unlawful detention.
During proceedings on Wednesday, Justice Ojukwu ordered the Nigerian Government to pay Sowore and Bakare N200,000 each for the unnecessary delay in their trials.
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CBN To Nigerians: Don’t Pay N50 Charges On PoS Transactions [VIDEO]
The Central Bank of Nigeria has clarified the issue of payments of N50 charges by merchants who use Point of Sale machines for cashless transactions, insisting that nobody should pay extra on goods and services.
The CBN explained that the N50 stamp duty is a fee regulated by an act that directs merchants to pay all necessary taxes as regulated by government agencies.
Speaking on Channels Television’s Business Morning programme, the CBN Director of Payment System Management, Musa Jimoh, said the apex bank issued a circular and merchants have misinterpreted the directive.
Jimoh said: “Stamp duty has been misinterpreted, our circular that talks about merchants paying stamp duties according to the law do not say that the stamp duty should be paid by the consumer; that is a misrepresentation of CBN directive.
“What our directive says is that merchants should pay all necessary tax as regulated by government agencies, including stamp duty.
“What we told the merchants is that we would like the banks to ensure that the merchants comply with this directive by ensuring that every single payment that customers make to them, the merchants pay the regulated stamp duty of N50.
“What has happened is that they have actually transferred this fee blatantly and openly to the consumers; this is very wrong.
“No single individual should pay N50 in addition to the cost of the goods.
“Stamp duty is not to be paid by individuals that are consuming the goods and services of the merchants.
“The merchants who are receiving the money are the ones who are supposed to pay.”
Jimoh explained that because the stamp duty is not regulated by the CBN, there are no plans to stop stamp duties.
He said: “Stamp duty is not a CBN regulated fee.
“It is a fee regulated by an act and so we can’t change or push anything in that direction.
“To this end, the stamp duty remains and cannot be changed by the CBN.
“What we are doing is to ensure that the institutions we regulate (the banks) become more responsible to ensure that these fees are collected and given to the government.”
Video Credit: Channels TV
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