The Court of Appeal sitting in Ado-Ekiti on Thursday upturned the judgment of the Federal High Court which unfrozen Governor Ayo Fayose’s two accounts at Zenith Bank. Fayose The three-man panel led by Justice Joseph Ikyegh allowed the appeal filed by the Economic and Financial Crimes Commission (EFCC) against Fayose’s victory at the Federal High Court, Ado Ekiti.
In a suit number, CA/EK/8/2017, the EFCC had urged the Appellant court to set aside the judgment delivered by Justice Taiwo Taiwo of the Federal High Court Ado-Ekiti. The panel held that the EFCC in its brief of appeal had convinced it that the accounts were used to keep funds suspected to be proceeds of crime. It would recalled that on December 13, 2016, Justice Taiwo Taiwo of the Federal High Court, Ado Ekiti had ordered the EFCC to immediately unfreeze the accounts of the governor, saying the action of the EFCC was against due process and that the anti-graft agency did not follow the laid down regulations in freezing the governor’s accounts. EFCC had appealed the judgment of the Federal High Court and sought an injunction, restraining the governor from operating the accounts pending the determination of the appeal but the appeal was dismissed by the Appeal Court, in a unanimous ruling delivered by Justice Fatima Omoro Akinbami, on the ground that EFCC did not attach notice of appeal and the ruling of Federal High Court Ado Ekiti.
The court also said that the alleged damning intelligent report by the EFCC, which it claimed to have received concerning money purportedly paid into Governor Fayose’s account by Senator Musiliu Obanikoro was not provided nor attached for the court to see. But at Thursday’s hearing at the Appeal Court, the EFCC in its brief argued that Fayose is a citizen of Nigeria and his accounts could be frozen if they are found to be used to hold proceeds of crime. The Commission contended that the immunity enjoyed by the governor does not preclude his account from being frozen. The Appeal Court allowed the appeal and held that Fayose’s accounts which were unblocked by the Federal High Court be frozen.
According to Justice Ikyegh, “In the final analysis, I find the appeal meritorious and having resolve all three issues agitated in the appeal in appellate’s favour ,I allow the appeal and hereby set aside the judgement delivered by Taiwo J of the Federal High Court, Ekiti Judicial Division on 13/12/2016 granting the claims of the 1st respondent in suit FHC/AD/CS/27/2017″ On Monday, the EFCC had filed an application before the court to adduce fresh evidence but the court turned down the motion. The briefs of the parties in the appeal, the EFCC (the appellant) and Fayose (1st Respondent) and Zenith Bank (2nd Respondent) were adopted with the court adjourning to Thursday for judgment.
Tony Elumelu Foundation Disburses First Tranche of $5m Partnership Commitment from African Development Bank
Tony O. Elumelu, CON, has congratulated the African Development Bank (AfDB), and AfDB President Akinwumi Adesina, on their commitment to African entrepreneurship, with the disbursement of $2.5million seed capital to the AfDB-sponsored beneficiaries of the 2019 TEF Entrepreneurship Programme. $2.5m was released today, with the remainder expected to be disbursed to the entrepreneurs in Q12020.
The AfDB commitment follows the recent $8.5 million disbursements from the United Nations Development Programme (UNDP) to 2,648 entrepreneurs in the Sahel region and Africa more broadly and further accelerates the economic empowerment generated by the Tony Elumelu Foundation. In 2019, the Foundation significantly increased the scale and reach of it impact, with the number of beneficiaries of its flagship Entrepreneurship Programme rising from its annual commitment of 1,000 to 5,150, in collaboration with global and African partners.
With its commitment to strengthen small and medium-sized enterprises and develop young entrepreneurs, AfDB joined the growing list of global development institutions benefiting from the Tony Elumelu Foundation’s unique model of identifying, training, mentoring and funding entrepreneurs and start-ups across Africa. The partnership demonstrates the implementation of the AfDB’s ten-year “Jobs for Youth in Africa” strategy, launched in 2016, to support the creation of 25 million meaningful jobs across the continent.
The partnership illustrates TEF’s willingness to share its infrastructure and know-how, with others who share the mission to empower young African entrepreneurs and TEF’s goal of creating millions of jobs, as well as generating
billions in revenue, to catalyse economic growth across the continent.
The Foundation is currently accepting applications to the 2020 cohort of its flagship Entrepreneurship Programme on TEFConnect.com, Africa’s digital hub for entrepreneurs.
Dangote Farms Commissions Tomatoes Nursery To Provide Seedlings For Farmers
In a bid to make Nigeria self-sufficient in tomato production, Dangote Tomatoes Processing Limited, owned by the younger brother of Africa’s richest man, Sani Dangote, has unveiled a N2.8 billion greenhouse nursery in Kano to supply the best quality tomato seedlings to Nigerian farmers.
Speaking on the project, Sani Dangote said the nursery is designed to use the automated Pat Moose planting technology, the first of its kind in Nigeria and has the capacity to process 350 million tonnes of hybrid tomato seedlings per season enabling the planting of 12,000 hectares of tomato farm. The pat moose process takes three weeks before proceeding to the next stage reducing the whole process of growing tomatoes to just 3 months.
He stated that Nigeria consumes about 2.3 million tonnes of tomatoes annually and with the establishment of the nursery, “we have created a capacity to triple tomato production, attaining self-sufficiency in tomato production as well as a potentially exporting surplus to neighboring countries.
“Furthermore, this nursery will produce the highest quality tomato seedling available meaning that the farmers can grow the highest yield tomatoes. Currently, the yields produced by Nigerian farmers are less than the global standard. As a result, farmers will be able to earn more income from selling higher volumes of harvests each season.
“Nigeria is on a trajectory to becoming self-sufficient in rice, tomatoes and poultry production. This means that millions of jobs will be created for her citizens.”, Sani Dangote explained.
The African continent imports $40 billion of food annually despite having 65% of the world’s arable land. The public-private model on-going in Nigeria could be adopted by other African countries to also attain self-sufficiency in food production.
Tony Elumelu Donates Technology Centre To AAU
Chairman of UBA Group, Tony O. Elumelu, has made the donation of a multipurpose information technology center to his alma mater, Ambrose Ali University.
Through the UBA Foundation, the corporate social responsibility arm of the United Bank for Africa Plc (UBA), Elumelu has championed the construction of a state-of-the-art multipurpose information technology building, which will benefit the students of Ambrose Alli University in Ekpoma, Edo State. The hall, to be named The Tony O. Elumelu multipurpose hall, is furnished with computers, desks, and chairs measure 839 square meters and have adjoining offices and conveniences.
Elumelu highlighted his motivation: “Education is crucial to Nigeria’s human capital – whether our young people join our national institutions, the private sector or, as I did, take the entrepreneurial path, no one can afford to be cut off from the digital world. It has been a personal mission to ensure that the hall was delivered to specification, for the benefit of the students at the AAU. Success brings with it the duty to give back, and I am just grateful that I am now in a position to meaningfully help the next generation”.
The multipurpose hall was formally handed over to the University, at a ceremony attended by members of the University’s governing council and staff, led by Vice-Chancellor, Prof Ignatius Onimawo.
Speaking at the commissioning, UBA’s Directorate Head, South Bank, Mr. Chris Ofikulu, who represented the UBA Group Chairman, highlighted the contribution of UBA, through its Foundation, to education and development across Africa.
‘As a pan-African bank, operating in 20 countries across our continent, UBA is committed to being a socially responsible institution, and a role model for businesses in Africa. The UBA Foundation actively promotes the socio-economic improvement of the communities in which UBA operates, with a particular emphasis on development in the areas of “Education, Environment, and Economic Empowerment”. We believe in intervening and building capacity within communities, facilitating projects that will act as catalysts for social and economic development’ he stated.
“Tony Elumelu is a product of this great university and is conscious of the need to give back and there is no substitute for world-class educational infrastructure, and this is what has informed the construction of these facilities, that will help equip the future leaders of our great nation Nigeria,” he said.
The AAU Vice-Chancellor, Prof Ignatius Onimawo, who expressed his heartfelt gratitude towards the gesture by the UBA Group Chairman, noted that one of the most pressing needs of the University for 2020 had been met, and thanked UBA and Mr Elumelu.
He challenged students to make proper use of the facilities provided by UBA and to ensure that they emerge great leaders and mentors like Elumelu, whose commitment to catalyzing entrepreneurial growth across Africa, through the Tony Elumelu Foundation, and institutionalizing African philanthropy, had created a strong positive role model. ‘We at Ambrose Ali university are so proud of our son Tony Elumelu and every time we see him doing good across Africa, we feel joy and accomplishment’ said Onimawo.
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