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AFRICA POISED TO BECOME THE ENGINE OF ECONOMIC GROWTH – TONY ELUMELU

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7 years ago

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At the 51st Annual meeting of the board of governors of the African Development Bank (AfDB), African philanthropist Tony Elumelu, urged the private sector to tackle unemployment among African youths on the continent.

Mr. Elumelu, the Chairman of United Bank for Africa (UBA) and pan-African investment company Heirs Holdings said during a panel session at the event on Jobs for African Youths that “The solution to the problem of unemployment is going to come first from within and then from all of us working collectively. I believe entrepreneurship can solve the problem of job creation.”

Other speakers at this session include H.E. Professor Yemi Osinbajo, Vice President of the Federal Republic of Nigeria; H.E Hailemariam Desalegn, Prime Minister of the Republic of Ethiopia; Akinwunmi Adesina, President, African Development Bank; Carlos Lopes, Executive Secretary of the United Nations Economic Commission for Africa; Mo Ibrahim, Founder of the Mo Ibrahim Foundation and Thomas Silberhorn, Parliamentary State Secretary, Federal Ministry for Economic Cooperation and Development(BMZ).

Mr. Elumelu charged the audience and co-panelists: “If we are serious about cultivating jobs, let Africans who want to help deal with this issue. The Tony Elumelu Foundation Entrepreneurship Programme (TEEP), is my foundation’s 10-year, $100 million commitment to empowering the next generation of African entrepreneurs and surely, there are more private sector leaders that are willing to invest in our continent’s future.”

“I see great entrepreneurship potential in many of the 45,000 applicants that applied for TEEP this year alone, but the level of training, mentoring and networking that we offer means that we can only select 1,000 each year. I call on everyone here to support those who missed the cut. This is a clear path to sustaining African economic growth.”

Also contributing to the panel discussion, the AfDB president, Akinwunmi Adesina, noted that Africa has a job crisis.

“Unemployment rate is a crisis. Africa is in a job crisis. I believe the solution is right here in Africa” Akinwunmi, who is also Nigeria’s immediate former Minister of Agriculture, emphasized that the future of Africa lies in a more “prosperous and inclusive Africa.”

The panelists were focused not only on creating jobs for the youths but also harnessing the skills available on the continent to ensure good use is made of the natural resources available. Thomas Silberhorn wants the world to take note of the fact that “$150bn worth of goods is exported each year outside the continent(of Africa) which is much more than the aid given” as Elumelu opined that “International Aid organisations need to re-evaluate the way they engage Africa in the 21st century”.

 

According to Mo Ibrahim “We are wonderful at wasting natural resources. The same way we waste our youth. We send our natural resources overseas where they add no value until they are refined’. In support of this, Lopez added that “African migrants, if properly trained, can return to the continent to add value just like the entrepreneurs being trained by the Tony Elumelu Foundation”.

 

“Young people need a helping hand, the kind that will make them self- reliant and self- confident so that they can add their quota to the development of the continent” said Tony Elumelu. He commended the AfDB for launching the New Deal on Energy for Africa initiative.

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EFCC: 58 Ex-Govs Embezzled N2.187 Trillion [Full List]

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8 hours ago

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May 4, 2024

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According to the EFCC’s allegations, a significant number of former governors, totaling at least 58, have alleged to been involved in the misappropriation, embezzlement, or laundering of approximately N2.187 trillion over a span of 25 years.

This amount does not include properties seized worldwide or those currently being investigated, which amount to billions of Naira.

The amount of N2.2 trillion that was looted is similar to the combined budgets of Lagos State and the South-East states for 2024, totaling N2.25 trillion and N2.29 trillion respectively. This figure exceeds the budgets of the North-Central states and North-East states for 2024, which are N1.89 trillion and N1.60 trillion, by several billion.

The EFCC is currently investigating, probing, and prosecuting 58 ex-governors from various regions of the country. Since the restoration of civilian government on May 29, 1999, there have been at least 170 governors serving in the 36 states of Nigeria.

The 58 ex-governors who are currently or have previously faced investigations by EFCC, with alleged amounts in question, consist of:

late Abubakar Audu (N10.966 bn),

TA Orji and sons (N551 bn)

Yahaya Bello (N80.2 bn)

Chimaroke Nnamani (N5. 3 bn)

Sullivan Chime (N450 million)

Kayode Fayemi (N4bn)

Ayo Fayose (N6.9 bn)

Abdullahi Adamu (N15bn)

Danjuma Goje (N5bn)

Aliyu Wamakko (N15 bn)

Sule Lamido (N1.35 bn)

Joshua Dariye (N1. 16 bn)

Timipre Sylva (N19.2 bn)

Saminu Turaki (N36bn)

Bello Matawalle (N70 bn)

Lucky Igbinedion (N4. 5 bn)

Musa Kwakwanso (N10bn)

Peter Odili (N1000 bn)

Jolly Nyame (N1.64 bn)

James Ngilari (N167 m)

Abdulaziz Yari (N84 bn)

Godswill Akpabio (N100bn)

Abdul fatah Ahmed (N9 bn)

Ali Mode-Sheriff (N300bn)

Willie Obiano (N43 bn)

Ibrahim Dankwambo (N1. 3bn)

Darius Ishaku (N39bn)

Ramalan Yero (N700m)

Achike Udenwa (N350m)

Rochas Okoro ha (N10. 8bn)

James Ibori (N40 bn),

DSP Alamieyeseigha (N2.655bn)

Gabriel Suswam (N3. 111bn)

Samuel Orton (N107bn)

Murtala Nyako (N29bn)

Rashid Ladoja (4.7bn)

Christopher Alao-Akala (N11. 5 bn)

Abdulkadir Kure (N600m)

Babangida Aliyu (N4bn)

Abubakar Audu (N10bn)

Idris Wada (N500m)

Ibrahim Shekarau (N950m)

Adamu Aliero (N10bn)

Usman Dakingari and wife (N5. 8bn)

Attahiru Bafarawa N19. 6bn)

Jonah Jang (N6. 3bn)

Aliyu Doma (N8bn)

Tanko Al’Makura (N4bn)

Boni Haruna (N93bn)

Bindow Jibrila (N62bn)

Adamu Muazu (13bn)

Isa Yuguda N212bn)

Mohammed Abubakar (N8. 5bn).

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Dangote University explains how female student died in her off-campus apartment

Published

9 hours ago

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May 4, 2024

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Tragedy struck on Thursday at the Aliko Dangote University of Science and Technology, Wudil, Kano State, when a female student, Aishat Yahaya Olabisi, was found dead in her off-campus apartment.

Olabisi, a 300-level female student of Food and Science Technology, was said to have been found dead after she returned to her room from the school.

The deceased student was said to have written her first examination in the ongoing first-semester examination at the university on the fateful day.

One of the male students who spoke to PUNCH Online on condition of anonymity on Saturday blamed her sudden passing away on examination pressure.

“The deceased was hale and hearty before she went out to write her first examination in the ongoing first-semester examination,” the student said.

However, following reports in the media that the female student died in the university students’ hostel, the Management of the university clarified the misinformation.

In a statement by the Dean, Students Affairs of the university, Prof. Abdulkadir Dambazau, dated 3rd May 2024, refuted the media claims.

The statement titled “Clarification Regarding False Statement About Student’s Death” read, “It has come to our attention that a recent statement made by DLC Hausa and some media outlets regarding the discovery of a student’s corpse at the students’ hall of residence is entirely false. We wish to address this matter promptly and unequivocally refute these claims.

“On 23 April 2024, we received news about the untimely passing of Yahaya Aishat Olabisi, a diligent and bright student of ADUSTECH Wudil. Aishat spent her last evening engrossed in her studies, diligently preparing for upcoming examinations. The following morning after a shared breakfast with her roommate and a heartfelt conversation with her father, she expressed her intent to rest briefly before resuming her studies. However, destiny had a different plan.

“In the early afternoon of the same day, concerns arose when Yahaya Aishat Olabisi did not respond to attempts to reach her. Upon investigation, it was discovered that she had passed away in her sleep in her off-campus residence. Immediate measures were taken, and she was swiftly taken to the university clinic, where her passing was confirmed by medical professionals.”

The statement added that Olabisi’s remains had been transferred to the Aminu Kano Teaching Hospital for postmortem analysis.

“Given the circumstances, her remains were transferred to Aminu Kano Teaching Hospital for postmortem analysis to ascertain the cause of her sudden demise. Meanwhile, her grieving parents, who hail from Ilorin arrived the following day to bid farewell to their beloved daughter.

“In honouring her memory and bidding her farewell, Aishat was laid to rest on 24 April 2024, surrounded by family, friends, and members of the academic community who mourned her loss deeply,” the statement added.

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Court Sentence FCMB Branch Manager to 121 years in Prison for embezzling Customers Funds

Published

17 hours ago

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May 4, 2024

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FCMB is a leading financial institution in Nigeria has received a big shock of the year as one of its staff has been thrown to prison for fraud and embezzlement.

Justice S. Odili at the Anambra State High Court in Onitsha, Anambra State, sentenced Mr Nwachukwu Placidus, a bank manager at First City Monument Bank FCMB, Onitsha Anambra State to 121 years in prison for embezzling N112 million from a customer’s fixed deposit account.

The Honorable justices delivered the verdict resulting in the conviction and sentencing of a former manager at the First City Monument Bank’s branch in Onitsha, who has now been sentenced to a total of 121 years in prison for misappropriating fixed deposit funds totaling N112,100,000 from a customer for personal use. This is tantamount to a breach of trust by the former manager which has attracted a huge jail term.

 

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