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Tony Elumelu Foundation Disburses First Tranche of $5m Partnership Commitment from African Development Bank

Gbemileke Ajayi

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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 beneficiarieof 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.

BIG STORY

Killer Juice: Don’t Take Products Not Approved By NAFDAC, Lagos Warns Residents

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The Lagos State Commissioner for Information, Mr Gbenga Omotoso, on his part, advised residents to check the expiry dates of the products they consumed.

Omotoso, in an interview with one of our correspondents, also urged residents of the state not to consume products that were not certified by NAFDAC.

Reacting to the story of the sales of expired citric acid powdered drinks in Kano State, the commissioner said the state consumer protection agency would not allow the ‘killer drink’ to be sold in the state.

He said, “We have a consumer protection agency saddled with the responsibility of curbing fake products and prosecuting people selling such.

“People must watch out for expiry dates on the products they consume and they have to ensure that such products are NAFDAC approved.”

Omotoso also assured residents of the state that there was no need to panic about the ‘killer drink.’

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BIG STORY

BREAKING: IGP Disbands Police Monitoring Units In Lagos, Port Harcourt Over Complaints Of Harassments

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Acting Inspector-General of Police, Alkali Baba, has ordered the immediate disbandment of the IGP Monitoring Satellite Offices in Lagos and Port Harcourt over complaints of harassment and operating beyond their briefs by Nigerians.

Speaking at his maiden meeting with Command Police Commissioners and zonal AIGs, in Abuja on Thursday, Baba said the IGP Monitoring Units will be re-organized.

The development is coming 24 hours after the Police Service Commission asked the IGP to check the proliferation of police investigating units.

The commission stated that the units were bringing huge embarrassments to the force.

The commission Chairman, Musiliu Smith, said there must be proper and close monitoring of police investigative units to stem the atrocities its officials committed in the line of duty.

The retired IGP had also stressed the need to quickly treat cases of misconduct by the officers “so that those found wanting are brought to book”.

Details later…

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BIG STORY

JUST IN: Obaseki Blasts Finance Minister, Insists FG Printed N60bn

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Edo Governor Godwin Obaseki has faulted the Minister of Finance, Budget, and National Planning, Zainab Ahmed, for denying that the Federal Government printed N60 billion in March to support allocation to states.

Obaseki has said he won’t join issues with the Federal Government over his claim that N60 billion was printed in March to support allocation to states.

Obaseki had lamented the fiscal state of the nation, stating Nigeria is in financial trouble.

While speaking at the Edo state transition committee stakeholders engagement over the weekend, he claimed the Federal Government printed money to bridge FAAC allocation.

“When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share,” he had said.

But it was reported on Wednesday the Federal Government faulted his claim, dismissing it as untrue.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said Obaseki’s claim was very sad because it was “untrue”.

Reacting to the counter-reaction on Thursday, Obaseki, through his official Twitter handle, said: “We believe it is our duty to offer useful advice for the benefit of our country

“The Minister of Finance, Budget and National Planning, @ZShamsuna should rally Nigerians to stem the obvious fiscal slide facing our country.

“Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality so as to prevent the prevailing economic challenge from degenerating further.

“We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately time shall be the judge of us all.”

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