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Tony Elumelu Foundation Releases 2020 Annual Letter

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The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy committed to empowering African entrepreneurs, has released its 2020 Annual Letter titled “THE POWER OF ENTREPRENEURSHIP AMIDST UNCERTAINTY”.

The report, which was delivered in the form of a personal letter from TEF Founder, Mr. Tony O. Elumelu CON, reiterates that equipping young people with the tools and the opportunities to succeed through entrepreneurship, is the only sustainable, dignified way to create a path to prosperity for all.

Launched across TEF’s digital platforms, the Annual Letter showcases remarkable achievements that include supporting a growing and dynamic entrepreneur ecosystem of 1 million Africans, expanding strategic partnerships to scale the existing TEF Entrepreneurship Programme to reach more small businesses across all 54 African countries, and other milestones by the Foundation to mitigate the effects of the pandemic and provide support for young entrepreneurs.

The 2020 Annual Letter begins with reflections from the Founder dating from the inception of the Foundation and its raison d’être, to the global pandemic, “In 2020, the world stopped, but we did not.

When we launched the Tony Elumelu Foundation in 2010, we did something new in Africa – we “democratised” luck. In my own entrepreneurial journey, I knew luck had played an important role, and I was determined that others, many others, would get those same chances. We created an institution with a single focus: young African entrepreneurs.”

Through its digital hub, www.tefconnect, the Tony Elumelu Foundation successfully supported millions of Africans, addressing the unique needs of an entrepreneurial community that continues to be challenged by the pandemic.

“We curated world class training, offered expert-led masterclasses with institutions such as Yale University, and brought project management skills and mental health coping mechanism to African entrepreneurs, taking care of their mind and spirit, as we assisted them to restructure their business for the new normal.”

The Letter further narrates 2020 highlights including TEF’s €20 million partnership with the European Union and the Organisation of African and Caribbean States (OACPS) to support more than 2,500 women entrepreneurs: “The statistics on female entrepreneurship in Africa are chastening – women make up 58% of the continent’s self-employed population but earn 34% less profits on average. Our goal is for more women to participate in economic development, realise their full potential and accelerate economic inclusion.”

Other notable accomplishments include the TEF-UNDP Mali Entrepreneurship Programme rolled out in the middle of conflict, political instability and insecurity in the Sahel country: “Over 1.7 million people have been displaced by violence in Mali since 2012.

“Our Entrepreneurship Programme demonstrates that entrepreneurship is the singular most effective tool to creating jobs, opportunity, economic hope, stability, peace, sustained growth and poverty reduction.”

Now in its 7th year, the US$100 million TEF Entrepreneurship Programme has empowered over 9,000 young African entrepreneurs from 54 African countries with world-class business training, mentorship, non-refundable seed capital of $5,000 and global networking and market opportunities.

In 2021, the Tony Elumelu Foundation, will identify, train, mentor and fund over 3,500 entrepreneurs across Africa.  The Programme remains open to all entrepreneurs across the African continent, both new start-ups and existing businesses operating in any sector.


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REA, NBS Partner to Deliver Comprehensive Energy Data for Nigeria

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The Rural Electrification Agency (REA) and the National Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to conduct a nationwide energy survey aimed at closing long-standing data gaps in Nigeria’s power sector. The initiative is expected to guide policy, attract investment, and accelerate universal electricity access.

Signed in Abuja, the agreement establishes a National Energy Survey based on the Multi-Tier Tracking Framework (MTF), a globally recognized methodology that measures electricity access not only by grid connection but also by quality, affordability, reliability, and usage of electricity and clean cooking solutions.

The survey will be implemented under the Energy Sector Management Assistance Program (ESMAP) of the World Bank. Dr. Abba Aliyu, REA Managing Director/CEO, said the partnership underscores REA’s commitment to evidence-based rural electrification planning and will generate detailed insights on electricity access and off-grid solutions nationwide.

Prince Adeyemi Adeniran, Statistician-General of the Federation/CEO of NBS, emphasized that reliable statistics are essential for effective policymaking, assuring that NBS will provide technical oversight, sampling expertise, and quality assurance to meet global standards.

The survey will assess energy access, household affordability, expenditure patterns, and the adoption of off-grid technologies such as solar home systems, mini-grids, and clean cooking solutions. REA will provide sector expertise and policy alignment, while NBS manages regulatory approvals, methodology, and technical supervision.

Funded and technically overseen by the World Bank, the exercise will run for 18 months, with the resulting data expected to improve national energy planning, programme targeting, and private sector investment, particularly in underserved and rural communities.

Officials said the collaboration reflects the Federal Government’s commitment to strengthening inter-agency coordination, enhancing energy data availability, and advancing Nigeria’s goal of universal electricity and clean cooking access.


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SiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy

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The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the nation’s foremost self-regulatory body for the blockchain industry, has completed its election cycle, heralding the beginning of a new executive council dedicated to scaling Nigeria’s digital economy.

The highly anticipated elections concluded recently with the emergence of a new leadership team poised to champion industry standards, foster innovation, and drive widespread adoption of blockchain technology across the country.

The newly elected executives, who will officially assume their roles in January 2026, represent a blend of legal, financial, and technical expertise critical for navigating the evolving regulatory landscape.

Leading the charge is Mela Claude-Ake, a lawyer, who has been elected the President of SiBAN to succeed the outgoing President, Obinna Iwuno, whose tenure was marked by significant achievements, including facilitating crucial reforms and forging strategic partnerships with regulators and other critical stakeholders in the digital asset industry. Mr. Iwuno will formally hand over the reins to the new council in January 2026.

Other elected to the executive council are Chimene Chinah – Vice President 1, in charge of Blockchain education and adoption; Oroke Cornelius – Vice President 2, in charge of membership, strategic partnerships, and funding; and Ayo Shonibare – Vice President 3, in charge of policy, regulation, and ethics.

Others are Ugochukwu Peters – Vice President 4 in charge of digital asset operations and capital markets, Mbene Vivian – Chief strategy officer in charge of projects and incubation, Olufunmilayo Tugbobo as Financial Secretary/Chief Financial Officer, and Chiemeka David Ohajionu as Chief Communications Officer.

The newly elected council’s structure reflects SiBAN’s commitment to addressing key pillars of the blockchain ecosystem: from grassroots education and fostering innovation through projects, to establishing robust regulatory frameworks.

In his acceptance speech, Mela Claude-Ake emphasized the vital role SiBAN plays in shaping the future of finance and technology in Nigeria.

“The trust placed in this new council is not one we take lightly. We inherit a great foundation built by the outgoing team. Our mission now is to accelerate. We stand at a critical juncture where the potential of blockchain to revolutionize every sector, from finance and governance to supply chain, is undeniable. This new council will focus relentlessly on advancing smart, collaborative regulation, democratizing blockchain education, and protecting the interests of all stakeholders to ensure that Nigeria remains a leader in the African digital economy space,” he assured.

He added that he is humbled by the opportunity to be the face of one of Nigeria’s youngest and most promising sectors — blockchain tech.

“As a tech enthusiast I am excited at the possibilities. The ecosystem needs careful nurturing by the government. My administration will be focused on building new bridges for the blockchain sector internationally and domestically, establishing trust with the public and unifying the sector. I enjoin all blockchain stakeholders in Nigeria, connected to Nigeria or of nigerian heritage to join hands together with my administration in building the industry of our dreams.”

The industry now looks forward to the handover ceremony in January 2026 and the initiatives the new SiBAN leadership will unveil to solidify the association’s role as a catalyst for innovation and a respected partner to the Nigerian government.


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APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

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The National Chairman of the All Progressives Congress (APC) has approved the appointment of Mr. Abimbola Tooki as Special Adviser on Media and Communication Strategy.

APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

Mr. Abimbola Tooki

The appointment reflects the Chairman’s confidence in Mr. Tooki’s vast experience, professional pedigree, and proven capacity to deploy strategic communication in strengthening party cohesion, public engagement, and effective message delivery at both national and international levels.

Mr. Tooki is a celebrated journalist, columnist, and media strategist with deep expertise in governance reporting, crisis communication, information management, and team leadership.

He is widely regarded for his ability to bring institutions closer to the people through the effective use of conventional and digital media platforms.

His career demonstrates a consistent track record of innovation, results-oriented leadership, and excellence in managing internal and external communications.

A versatile Information and Communications Technology (ICT) editor for many years, Mr. Tooki managed and developed influential ICT and business sections in leading newspapers, contributing significantly to public understanding of technology and economic issues.

He also pioneered major newsroom initiatives, including the establishment of specialised ICT publications, and is respected for his sharp analytical skills and solution-driven approach in fast-paced environments.

His professional journey spans several reputable media organisations, culminating in his role as Editor of BusinessWorld Newspaper, where he oversees editorial direction, production, administration, and corporate management.

He previously rose through the ranks at Financial Standard, earning rapid promotions due to exceptional performance, intellectual depth, and dedication to duty.

Mr. Tooki is also a familiar face and respected voice in broadcast media, serving over the years as a guest analyst on platforms such as Channels Television and other national stations, where he analyses major headlines, public policy, and issues of national importance.

Academically, he holds an MBA from Obafemi Awolowo University, a Postgraduate Diploma in Journalism from the Nigerian Institute of Journalism, and a Bachelor’s degree in Language Arts from the University of Ilorin.

In his new role, Mr. Tooki is expected to provide strategic direction for the Chairman’s media engagement, strengthen the APC’s communication architecture, manage reputation and messaging, and enhance the party’s interface with stakeholders, the press, and the Nigerian public.

The APC congratulates Mr. Abimbola Tooki on his appointment and wishes him success as he brings his wealth of experience, energy, and professionalism to bear in support of the Chairman and the party at large


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