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Tony Elumelu Promotes Nigeria as top Investment Destination to the French Business Community

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Serial entrepreneur, philanthropist and promoter of Africaptalism, Tony O. Elumelu on 27 May 2016, delivered an inspiring speech in Paris, France, selling Nigeria as an investment destination to the French business community.

Elumelu, who is the Chairman of Pan-African banking group, United Bank for Africa (UBA) Plc and proprietary investment firm, Heirs Holdings delivered the speech as a guest speaker at the 1st ‘Colloque Nigeria’, a colloquium on doing business and investment in Nigeria, which was organised by the French Senate at the exquisite Palais de Luxembourg in Paris, France.

Speaking at the conference, the Founder of the Tony Elumelu Foundation said that like every part of the world, investors in Nigeria and Africa are faced with a myriad of challenges, but amidst these challenges no other destinations provided more opportunities and return on investment as do Nigeria and Africa. “Nigeria remains a very viable, attractive and important investment and export destination for French companies. As a matter of fact, I would argue that now is a good time to come and invest in Nigeria, because it is an investor’s market. The fundamentals of the Nigerian economy remain strong,” he said.

According to Elumelu, some of the trends supporting long – term growth in Nigeria are the increased use of technology by the Nigerian population, high consumerism, young demographic and increasing urbanization. Whilst encouraging French businesses to come and discover Nigeria, he advised the would – be investors to find the right partner that would help them navigate the environment and stated that they need be committed to invest in Nigeria for the long haul.

“Nigeria has always been a unique country. We are not only the most populous country on the continent of Africa, we are amongst the best educated and most-traveled people in Africa. We Nigerians are well known for our positive outlook and can-do spirit. Even more importantly, we have a strong culture and spirit of entrepreneurship. The smart investor, knows that this is the time to enter our market because the fundamentals of the Nigerian economy remain strong, and where others perceive risk and challenge, the glass is actually half full rather than half empty” Elumelu said.

He asserted that despite the current challenges faced by Nigeria which have been brought about by the sharp drop in commodity prices, the country still offers one of the highest returns on investment on the continent

iting the example of what UBA has been able to achieve in Nigeria, Elumelu said that UBA has operated profitably in Nigeria for the past 70 years and in the last decade, increased its footprint into 18 other countries in Africa as it set up business offices in Paris, New York and London. “UBA is helping to finance major projects in infrastructure, as well as in the agriculture and construction sectors of the African countries in which we operate, most of these being francophone countries. We have continued to open more UBA branches of our subsidiaries and we have become better established in those markets. The second stage of the roll out on the continent begins later this year”.

“The large Nigerian economy plays an important leading role in West Africa and beyond. So when you invest in Nigeria, the benefits spill over to our neighbours in dozens of countries” he continued.

He thanked the investing community for their enthusiasm about investing in Nigeria and he encouraged them to “believe in Nigeria; come to Nigeria; discover Nigeria; invest in Nigeria; help develop Nigeria and prosper with Nigerians; and most importantly, take an Africapitalist approach to entering and investing in Nigeria because what we are looking for are sustainable partnerships that will deliver sustainable development through the private sector going about its normal commercial activities,” he concluded.

Also speaking at the Colloque Nigeria summit, the President of the French Senate, Mr. Gerard Larcher stressed that the summit is strategic to French business interests as Nigeria remains the first destination of French investment in sub Saharan Africa. ” We want to strengthen these privileged links, said the President.

He thanked Mr Elumelu for his sterling contributions to the economic development of the continent, and especially in the area of entrepreneurship where the Tony Elumelu Foundation – through its Tony Elumelu Entrepreneurship Programme – has been engaging in promoting start-up businesses across the continent.

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YAHAYA BELLO: PAYMENT OF SCHOOL FEES: SETTING THE RECORDS STRAIGHT 

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NO AMOUNT OF BLACKMAIL WILL MAKE HE YAHAYA BELLO ‘COME THROUGH THE BACKDOOR’

 

 

On Tuesday, 23rd April 2024, Mr. Olanipekun Olukoyede, in a conduct which we view as unbecoming of a Legal Practitioner, organised a press conference where he alleged (amongst other outrightly defamatory statements) that His Excellency, Alhaji Yahaya Bello, withdrew cash from the Kogi State Government Account, sent same to Bureau De Change Operators and then used same to pay the school fees of his children in advance.

 

According to Olukoyede, the payment was made just about the time the former Governor was to leave office.

 

Since the said press conference, receipts of payments of the said fees bearing the names of His Excellency’s Children and those of other family members, who separately paid their fees, have been flying all over the internet.

 

While we reserve our rights to seek redress against the said defamatory statements, permit us to briefly state the following for the purpose of setting the records straight:

 

1. His Excellency, Yahaya Bello’s children have attended the American International School, Abuja well before he became Governor and he has paid fees for his children as and when due and without fail.

 

2. His Excellency, Alhaji Yahaya Bello did not pay the sum of USD720,000 as alleged by the EFCC Chairman or USD840,000 as is being bandied about on the internet.

 

3. The payment of the fees was not effected at about the time his Excellency was to leave office as claimed by Mr. Olukoyede but same commenced in 2021.

 

3. Alhaji Yahaya Bello DID NOT pay the fees of his Children with monies from the Coffers of the Kogi State Government.

 

4. When the EFCC approached the American International School Abuja (AISA) to illegally recover funds legitimately paid by Alhaji Yahaya Bello and other family members, a member of the family challenged the EFCC’s unlawful acts to recover funds legitimately paid. The FCT High Court, in Suit No. FCT/HC/2574/2023 between: Mr. Ali Bello v. The Incorporated Trustees of American International School, Abuja, held that AISA could not lawfully and unilaterally refund to a third party, including the EFCC, fees paid by the parties to the suit.

 

The Court subsequently mandated AISA to continue to provide the services it had been paid with respect to the fees.

 

From the foregoing, it is clear that no money belonging to Alhaji Yahaya Bello or his family members with regard to school fees has been recovered by the EFCC.

 

5. Now, let it be known that, contrary to misleading narratives by the EFCC, all the documents published online i.e. receipts and letters, that the EFCC has released online, in furtherance of its unrelenting persecution of the former Governor, are documents filed by lawyers in the suit instituted on behalf of Alhaji Yahaya Bello and others who paid fees for their wards under the Advance Fee Payment Agreement with AISA.

Those documents, having been filed by his lawyers, are thus public documents, which shows that his Excellency, Yahaya Bello, has nothing to hide with regard to the payment of advance fees for his children. This unending harassment and persecution, even while in office, were among key reasons he sought to enforce his fundamental human rights.

 

6. We state that the payment of these fees and the legitimacy thereof is the subject matter of Charge No. FHC/CR/573/2022, filed by the EFCC since 15th December 2022 at the Federal High Court, Abuja. The Charge is pending and the Court has yet to make any finding or convicted anyone in respect of the said sum.

 

7. It is imperative to remind Mr. Olukoyede, who is a Lawyer, that once parties have submitted a dispute to the Court, they are to shun all actions and statements that may prejudice the hearing of the matter or the mind of the Court.

 

8. Since the matter is sub judice, we say no more, we await the EFCC’s proof of the allegations in Court, which is the only venue where the proof of these allegations matter.

 

9. We thank Nigerians who have recognised the obvious desperation of the EFCC boss to convict the former Governor by all means in the Court of public opinion rather than in the law court, as personal vendetta, with the connivance of like minds, and not a fight against corruption.

 

10.We implore others who might have been misled by their shenanigans not to be fooled by mischievous narratives but to

follow the case through until justice is served.

 

11. Finally, our Principal, Yahaya Bello, doesn’t visit law enforcement agencies “through the backdoor”. He has insisted on following due process in line with the rule of law. No amount of blackmail will intimidate him.

 

Thank you.

 

Signed

Ohiare Michael

MEDIA OFFICE,

HE YAHAYA BELLO

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Commissioner for Justice, Zacchaeus Adangor Resigns After Being Redeployed By Governor Fubara.

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Commissioner for Justice and Attorney-General of Rivers State, Zacchaeus Adangor has rejected his redeployment as Commissioner for Special Duties.

Zacchaeus also tendered his resignation from the state executive council.

Zacchaeus had, on 14 December, resigned his position as the Attorney-General of the state following the face-off between Governor Sim Fubara and the Minister of the Federal Capital Territory, FCT, Nyesom Wike.

Zacchaeus and other commissioners who resigned due to the political crisis in the state, however, returned to the government after being reconfirmed by the state House of Assembly.

Fubara, earlier in the week, reshuffled his cabinet and redeployed Zacchaeus as the commissioner for Special Duties (Governor’s Office).

In a letter sighted by DAILY POST and addressed to the Secretary to the Rivers State government, Zacchaeus rejected his new office.

Zacchaeus, a strong ally of Wike, in his resignation letter, accused Governor Fubara of interfering with the performance of his duties as Attorney General of the state.

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Just in: Senator Ayogu Eze Dies At 65

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Famous former lawmaker, Senator Ayogu Eze, is dead. He died at the age of 65.

Ayogu represented Enugu North in the Senate during which time he played key role of the image maker of the Senate.

He died in an Abuja hospital after a protracted illness.

Sources squealed that Ayogu had been down, a situation that made him unable to attend his child’s wedding ceremony held earlier in the year in Lagos State.

He was a founding member of the Peoples Democratic Party, PDP, before he defected to the All Progressives Congress, APC, where he ran for Enugu State governorship election.

In the Senate, he was appointed chairman of the senate committee on Information and Media, making him the official spokesperson of the senate in 2007.

After his reelection to the senate in 2011, he was appointed chairman of the committee on works.

Eze also served as a member of committees on Police Affairs, National Planning, Marine Transport and Federal Character & Inter-Government Affairs.

In May last year, the Senate confirmed the appointment of Eze and five others as Federal Commissioners for Revenue Mobilisation Allocation and Fiscal Commission, RMAFC.

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