Connect with us

News and Report

Tony O. Elumelu Launches Empowerment Fund to Revitalize Distressed Communities across Nigeria

Published

on

Tony O. Elumelu Founder of The Tony Elumelu Foundation and Chairman of Heirs Holdings has announced the launch of The Elumelu Nigeria Empowerment Fund. The Fund was launched by President Goodluck Ebele Jonathanof Nigeria,with the purpose of revitalizingthe economies of post conflict and disaster communities across Nigeria.

The Elumelu Nigeria Empowerment Fund was created out of the N2.5 billion donated by
The Tony Elumelu Foundation and Heirs Holdings companies. This donation was announced at the Presidential Fundraising Dinner for the Victims Support Fundin July 2014. Given to support distressed communities across Nigeria,N1 billion was immediately disbursed to the Victims Support Fund, while the remaining N1.5 billion now serves as the initial seeding for The Elumelu Nigeria Empowerment Fund.The Fund will focus on communities like those in the Niger Delta and Jos.

“Rehabilitating distressed communities will require interventions not just from the government, but also from the private sector.  Therefore, I am pleased to see that Tony Elumelu, one of our private sector leaders, stepped up in a big way – by making a major contribution to the Victim Support Fundand that his effort did not end there as he has now created The Elumelu Nigeria Empowerment Fund” said Nigerian President Goodluck Ebele Jonathan

Seeded and managed by The Tony Elumelu Foundation, The Elumelu Nigeria EmpowermentFund, a non-profit organization, will transform communities that have been ravaged by natural disasters, hazards and conflicts, into thriving and economically sustainable communities. The Fund will create opportunities and empower people in affected communities across Nigeria enabling them to rebuild their lives and businesses whilst instilling a sense of economic empowerment for the long-term.

In furtherance of Mr Elumelu’s commitment to supporting entrepreneurs across Africa, The Elumelu Nigeria Empowerment Fund will focus on encouraging the development of entrepreneurship in these affected regions through access to start-up funding, capacity building and mentorship.The fund will also support a range of initiatives in these communities, including projects that will tackle environmental issues, restore damaged infrastructure as well associal welfare projects. By helping to restore these communities the Fund will create the platform for a thriving entrepreneurial environment.

“By making social investments and grants available in select distressed communities across Nigeria, the Elumelu Nigeria Empowerment Fund will economically empower individuals and communities by creating and fostering an enabling environment that will support a new generation of entrepreneurs”said Mr Tony Elumelu, Founder, The Tony Elumelu Foundation and Chairman Heirs Holding. ”Entrepreneurs create jobs, opportunity, and wealth at the local level and in doing so, they play a vital role in reducing poverty and addressing a range of social issues that cause conflict and instability” Elumelu continued.

As the Fund works to economically empower communities, so will it work to sustain itself.  The Fund is managed by Katja Nwator, a staff of the Tony Elumelu Foundation withconsiderable community development experience and Niger Delta roots. With the support of a distinguished board and other donors, both domestic and international, the Fund will be impactful and sustainable. This will occur within a framework of accountability and best practice, to serve as a model for delivering development programmes to the communities that have been devastated by conflict or disaster.

The Elumelu Nigeria Empowerment Fund’s distinguished board members include:

– Professor Charles Soludo, former Governor of the Central Bank of Nigeria
– Hajiya (Dr) Mairo Mandara, Nigeria Country Director of the Bill and Melinda Gates Foundation
– Bishop Matthew Hassan Kukah of the Catholic Diocese of Sokoto
– Onari Duke, the MD of the Empretec Foundation
– Rasheed Olaoluwa, the CEO of the Bank of Industry
– Dr. Stanley Lawson, Director, Central Bank of Nigeria and Director, Transcorp Plc
– Dr. Winnie Byanyima, the Executive Director of Oxfam International

Speaking at the launch of the Fund, Board member Bishop Matthew Hassan Kukah stated, ”It is better to light a candle than curse the darkness. The Tony Elumelu Foundation has ignited what will definitely be a massive flame of hope to dispel the darkness that hovers around us. I am honoured to stand beside men and women with passion for our common humanity.”

To find out more information and to keep up to date with The Elumelu NigeriaEmpowerment Fund visit www.tonyelumelufoundation.organd follow the foundation on twitter @TonyElumeluFDN.

###

For all media enquiries contact Toyin Awesu
Email: toyin.awesu@tonyelumelufoundation.org Phone: 234-1-2774641-5

About the Tony Elumelu Foundation
The Tony Elumelu Foundation is an African-based, African-funded philanthropic organisation. Founded in 2010, our mission is to support entrepreneurship in Africa by enhancing the competitiveness of the African private sector.
We believe our work is driving lasting solutions that contribute positively to Africa’s social and economic transformation. Employing an integrated approach that utilizes impact investments, selective grant making, and policy development, we seek to influence the operating environment so that entrepreneurship in Africa can flourish.
Website: www.tonyelumelufoundation.org Twitter @TonyElumeluFDN

Continue Reading
Advertisement

News and Report

More Troubles For Dangote Cement As Kogi Govt Demands 10 Per Cent Share, Orders Immediate Seal Off

Published

on

However, Dangote Cement is facing allegations of sharp practice from Kogi State government, Kogi Assembly as well as Akwa Ibom State.Already, the Kogi State House of Assembly has ordered stoppage to the activities of the company in two Local Governments in the State while investigations continue.

To make the claim possible, Kogi State House of Assembly ordered the management of Dangote Cement company to provide all necessary documents that have to do with the transfer of Obajana Cement Company owned by Kogi state government to Dangote Cement Company.

The House also directed that the documents signed at the establishment of the Company and relevant receipts of dues it claimed to have paid to Kogi State Government available at the next adjourned sitting date.

The speaker of Kogi State House of Assembly, Matthew Kolawole, gave the order after interim reports of the ongoing investigative hearing on Internally Generated Revenue (IGR) which was submitted by the ad hoc committee led by Hon. Isah Tenimu Umar, Member Representing Lokoja I Constituency and deliberated upon at the plenary on Wednesday.

Kolawole said this has become important in view of the claims and counterclaims between the Chairman of Kogi State Internally Generated Revenue Service (KGIRS) and representatives of Dangote Cement as the acting chairman of KGIRS, Salisu Enehe had earlier accused Dangote Cement Plc Obajana of forging its tax receipt during the investigative hearing by the State House of Assembly.

According to the State Revenue Boss, most of the figures the company claimed to have paid are totally incorrect, urging the company to check its record.

He added that despite the billions of Naira that company is making from the state monthly, it has failed to pay taxes that are due to the state and Lokoja Local Government Area.

Nigerians Getting ₦1,593,247 Per Week From ₦99,000 Investment in Amazon
Nigerians Getting ₦1,593,247 Per Week From ₦99,000.

In another development, Following the unrestrained environmental degradation in Ankpa and Olamaboro local government areas, Kogi state House of Assembly on Wednesday, directed the Commissioner of Police and Commandant of the Nigeria Security and Civil Defence (NSCDC) to seal off operations of Dangote Plc in the affected areas of the State.

The House gave the order during a public hearing on activities of Dangote Group in the state, especially on the the massive exploitation , environmental degradation and non compensation to the affected owners of the land and without revenue accruing to the state government.

The Speaker, Kogi state House of Assembly, Mathew Kolawole, charged the NSCDC commandant to ensure immediate implementation pending when the ad hoc committee on revenue clarifies some grey areas. Kolawole, who lamented the environmental degradation caused by mining activities on Kogi by the Dangote group and its subsidiaries, accused the multi national business concern of making billions in the state but yet fails to give back to it.

Akwa Ibom is also finding it difficult to collect its entitlement from the Dangote Group. According to reports from the place, the Itu Local Government blocked Dangote premises with their trucks because the company has refused to pay tax for more than two years despite pleas and series of warnings.

Continue Reading

News and Report

Union Bank, WACOT Rice Kick Off Financial Inclusion Drive for Smallholder Farmers in Kebbi

Published

on

As part of Union Bank’s commitment to driving financial inclusion in Nigeria, the Bank has partnered with WACOT Rice Limited – a rice processing company, to financially include 6,000 local farmers including youth and women in Kebbi State.
The Kebbi Financial Inclusion Drive (KFID) which will cover four Local Government Areas – Argungu, Augie, Suru, and Dandi – is a critical part of WACOT’s Argungu Outgrower Expansion Project funded by United States Agency for International Development (USAID) West Africa Trade Hub. This program is set to resolve the overwhelming financial inclusion deficit within rural communities in Kebbi.
The financial inclusion initiative is being implemented with technical support from National Identity Management Commission (NIMC), to help the farmers acquire the relevant documentation and identification required to open bank accounts.
Union Bank will facilitate account opening and expand its agency banking network to cover the areas while supporting its agents on ground with digital banking solutions to enable seamless transacting and account management.
Farouk Gumel, Chairman WACOT and Board Chair, Union Bank was on ground in Kebbi State to kick-off the drive and paid a visit to the Kebbi state Governor, Senator Abubakar Atiku Bagudu to discuss expanding the programme state-wide.
In his recent keynote address at the recently concluded and  Chartered Institute of Bankers of Nigeria (CIBN) Conference, Mr. Gumel said:
 “As we work towards achieving financial inclusion to reach the unbanked, we must commit the same resources and investments to rural-local customers as we have done to urban-global clients to help create the growth that will lift us all to collective prosperity.”
WACOT Rice is a subsidiary of TGI Group. TGI Group, through another of its subsidiary Titan Trust Bank, recently acquired Union Bank in a landmark transaction which was announced in 2021.

Continue Reading

News and Report

FIRSTBANK PARTNERS VERVE INTERNATIONAL, MAKES CUSTOMERS MILLIONAIRES IN THE FIRSTBANK VERVE CARD PROMO

Published

on

In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and use of the card to carry-out their electronic banking transactions.

The ongoing 2-month promo will end on 30 October 2022 as 20 customers (10 customers per month) with the highest transaction count during the promo will be made millionaires, winning the sum of N1 million each. Also, N20,000 will be won by 25 customers monthly.

On the other hand, 2620 FirstBank verve cardholders that double their transactions every week, stand a chance to enjoy 10% cashback capped at N2,000 per customer.

Speaking on the promo Chuma Ezirim, Group Executive, e-Business & Retail Products, FirstBank said “we appreciate our partnership with Verve Card through the years; a partnership of empowerment and opportunities which include growing the economy, supporting new businesses and preventing unemployment. FirstBank verve card holders are encouraged to keep using their cards as it is a card offering that promotes safe, convenient and rewarding digital banking experience with 20 customers standing a chance to be millionaires at the end of the promo.”

Verve card is a secure debit card that allows cardholders to conveniently meet their daily financial needs such as payment for goods and services, airtime recharge, bill payments, funds transfer, etc. Verve card is accepted across all ATMs, POS, Web and Mobile Platforms in Nigeria.

The promo is also opened to new verve cardholders as non-verve cardholders are encouraged to visit the nearest FirstBank branch today to pick up a Verve card and start getting rewarded!

Only recently, FirstBank – in partnership with Verve – rewarded over 2601 FirstBank verve cardholders with various prizes; including N20,000 cash prize, N10,000 cash prize, N10,000 worth of airtime; power generating sets, refrigerator, cooking gas, smart TV and the grand prize of a brand-new car to a lucky winner.

 

Continue Reading

Trending