Connect with us

News and Report

Elumelu: Youth Restiveness Ticking Time Bomb for Africa, Others

Published

on

–      Tony O. Elumelu, CON, Chairman of United Bank for Africa, Heirs Holdings and Founder of the Tony Elumelu Foundation speaks to 21,000 youth at the Joshua Generation International Youth Conference at the University of Nigeria, Nsukka.

The Chairman of the United Bank of Africa (UBA), Mr. Tony Elumelu, has stressed the need to unlock the potential of youths in Africa, in order to catalyse the socio-economic development of the continent.

According to Elumelu, youth restiveness remains a ticking time-bomb in the continent, noting that countries in the region continue to face issues around extremism, banditry, robbery, senseless killing, kidnapping and political thuggery, among others.

The Founder of the Tony Elumelu Foundation said this in an address he delivered to 21,000 youth at the Joshua Generation International Youth Conference organised by the Anglican Church at the University of Nigeria, Nsukka, Enugu State, yesterday.

He pointed out that Africa is the world’s youngest continent, saying that almost 60 per cent of the country’s population is under the age of 25.

In Africa, youths of 35 years and under are estimated to constitute 70 per cent of the population of the country, he said.

“However, the jobless rate in Nigeria has now risen to about 30 per cent in March 2021. Some states have as high as 56 per cent of all their youth population as unemployed. In Africa, the situation is not much different: We have 65 per cent of all Africans below the age of 35 and many of these people are not gainfully employed.

“The Covid-19 pandemic and resulting lockdowns have exposed the vulnerabilities in our population structure. We now have, as a continent, the largest young generation in history – this youthful population is Africa’s hope, it is our pride and it is our potential. The urgency and need to unlock the potential of this generation is imperative for the security of our collective future.”

To the Chairman of Heirs Holdings, to address this challenge, there is need for a high sense of urgency, a dissatisfaction to what is happening presently as well as a commitment to improving things.

“We must accept that we face a crucial period in our history where youth issues must be the main and central issue of our time. Millions of our young people are entering the job market every year; and 20 million jobs are needed to be created annually to absorb new entrants in the labour market. Only about three million formal jobs are being created annually across Africa and this was even before the outbreak of Covid-19 pandemic outbreak,” he added.

While speaking on the power of entrepreneurship, Elumelu said: “For me and my colleagues at UBA, at TEF and the across the HH Group, we have come to believe that entrepreneurship-the power of entrepreneurship- is key to harnessing the potential of these young Africans

“By so doing, we secure our own future. This comes from our own experience, first as entrepreneurs ourselves. And secondly as people that have committed a lot of resources at TEF (capital, time, personnel) tin helping create a new generation of African entrepreneurs. We are helping to give economic hope and opportunities to young Africans. And we speak as people that do this in Africa but in all 54 African countries, the TEF intervention cuts across all sectors and gender across the 54 African countries because we believe that prosperity should be shared as much as possible across board and that poverty anywhere is a threat to us all everywhere.’’

“The enormous potential of our youth, we must prioritise our support for small-scale businesses. Corporate organisations do well in employing people but there is a limit on how much corporates can do in employing the huge numbers of our unemployed youths. Therefore, capacitising and supporting small businesses, empowering our young ones and their businesses, in our own view is the most powerful means to reduce unemployment on the continent,” he said.

Elumelu in his remarks commended the Nigerian Government with regards its approach to taxes for micro, small and medium sized enterprises stating, ‘I must commend the Federal Government for the good work in the area of tax waivers for Micro-businesses. Tax friendly policies that encourage our entrepreneurs are necessary and much more is required, but good work has been done and the government should be commended.’

 

News and Report

Just In: Nnamdi Kanu Arrives Court For Trial

Published

on

Detained leader of the Indigenous People of Biafra (IPOB), Mr Nnamdi Kanu has arrived the Abuja Division of the Federal High Court, venue of his trial over allegations of terrorism and treasonable felony.

Although his visuals could not be gotten, he was however believed to be among a convoy of about six vehicles that drove into the court premises around 8am on Thursday morning by operatives of the Department of State Service (DSS).

The convoy was led by a black Prado jeep, followed by two Hilux, two buses and other two other Hilux.

Before his arrival, security operatives including DSS, Nigerian Army, Police and the NSCDC had condoned off all enterances leading to the headquarters of the Federal High Court, Abuja.

Even staff of the Federal High Court had to alight from their staff bus to be screened before they were allowed to go in.

Nnamdi Kanu was arraigned alongside four others on six count criminal trial charge bordering on alleged terrorism and treasonable felony in 2016.

He pleaded not guilty to the charges and was admitted to bail in the sum of N100 million with three sureties in like sum, one of which was a serving Senator, Enyinnaya Abaribe.

However, he had jumped his bail in 2017 after his family house in Afarukwu, Abia State was invaded by personnel of the Nigerian Army.

Following the jumping of his bail, trial judge, Justice Binta Nyako had voided the bail and issued a warrant for his arrest.

After nearly four years of being a fugitive, he was re-arrested by security agents in collaboration with interpol and brought to Nigeria in late June to face his trial.

At the proceedings in July, his trial could not go on because of the failure of the DSS to produce him in court.

Justice Nyako had held that the court could not try him in absentia now that he has been re-arrest and in the custody of the federal government.

She accordingly adjourned to today for his rearaignment.

Only few days ago, the federal government had amended the charge to seven.

It would be recalled that the court had in 2019 separated Kanu’s trial from the others after he jumped bail and ordered his trial in absentia.

Details later.

Continue Reading

News and Report

Real Reasons EFCC Grills Ex-Kano Governor Kwankwaso Over N10billion Fraud

Published

on

Kwankwaso was invited for allegedly diverting the N10billion meant for the payment of pensions and construction of houses.

Officials of the Economic and Financial Crimes Commission, on Saturday, grilled the immediate past Governor of Kano State, Rabiu Kwankwaso, over allegations of abuse of office, diversion of public funds and fraudulent allocation of government properties to cronies

Punch reports that Kwankwaso was invited for allegedly diverting the N10billion meant for the payment of pensions and construction of houses.

Kwankwaso, a chieftain of the Peoples Democratic Party, was first invited by the EFCC in September but failed to honour the invitation.

The report stated that some retirees are believed to have written a petition to the commission demanding the investigation and possible prosecution of the ex-governor.

The retired employees had told the EFCC that the former governor mismanaged pension remittances to the tune of N10 billion between 2011 and 2015, to fund a housing project for his cronies.

“Kwankwaso came in today. He is responding to questions on alleged fraud following a series of petitions the EFCC received against him. In one of such petitions, the former governor was accused of diverting N10bn meant for the payment of pensions and construction of houses,” an EFCC detective said.

The former governor, who is a chieftain of the Peoples Democratic Party, is among those rumoured to be nursing a presidential ambition for 2023.

 

Continue Reading

News and Report

ADVAN rejects APCON standard of practice document

Published

on

The Advertisers Association of Nigeria ADVAN rejects the implementation of the new Advertising Industry Standard of Practice as it makes an unconstitutional attempt to infringe on the rights of private entities to determine their contractual terms.
ADVAN is very supportive of the plan to create a Standard of Practice for the advertising industry, a key objective of ADVAN is to facilitate and support progress in the advertising and marketing communications industry. ADVAN is excited to be a part of any initiative towards the development of industry best practice which will facilitate business and economic growth.
.
The Supreme Court has in many decisions, pronounced that the rationale for freedom of contract is founded on public policy: i.e., parties of full age and competent understanding are deemed to have the utmost liberty of contracting, and that their contracts when entered freely and voluntarily must be held sacred and be enforced by courts of law,
Furthermore, as principal benefactors of Advertising services our role and input with regards to this AISOP has not been fully onboarded, the current AISOP is void of critical elements that protect the rights and interest of the ADVAN community.
It is the submission of ADVAN and all its members, that the current AISOP does not serve collective interest, but rather permits unfair authority of certain parties over others and   creates an unfriendly business framework. It portrays a clear indication of discriminatory standards where the AISOP document in section 5 sub section b (Discounts and Commissions) states that “No party will unilaterally dictate or impose rates on another party except as may be mutually agreed by upon by the parties” however in the summary submitted to the press there is a clause that states “Media rates may be increased at any time provided that at least 30 days’ notice is given prior to implementation”. Latter of which was not included on original documents, further portraying an inconsistency in expectation.
ADVAN requests that in all instances, the condition of a mutually agreed terms by both parties be upheld and not only as it applies to expectations from Advertisers.
Government has a specific and critical role in supporting industry development by providing fair and enabling legislation and guidelines for ethical business practices, this involvement however, should not overrule the constitutional rights of business entities to conduct legitimate business activities.
The perception of a discriminatory regulatory system will be counterproductive to the collective objective of creating a conducive business environment.
Consequently, in the interest of creating an inclusive free, fair, and transparent industry standard of practice, ADVAN has sent in a clear representation of expectation. ADVAN is on standby for the acknowledgment of this position and further engagement on a standard of practice framework that is in the mutual interest of all.

Continue Reading

Trending