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BCIU Honours Elumelu with the Dwight D. Eisenhower Global Entrepreneurship Award

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l-r: Vice Chairman of the Forbes Publishing company, Mr. Kip Forbes; Award Recipient, Group Chairman, United Bank for Africa Plc and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu; and Interior Designer and Granddaughter of General Dwight D. Eisenhower(34th President of the U.S.A), Ms. Anne Eisenhower during the conferment of the prestigious Dwight Eisenhower Global Award for Entrepreneurship on Elumelu by Business Council for International Understanding(BCIU), at the Cipriani in New York City on Monday
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The Business council for International Understanding (BCIU), a non-profit U.S Business association dedicated to forging relationships and promoting dialogue between business and government communities across the globe, tonight presented the prestigious Dwight D. Eisenhower Global Entrepreneurship Award to both Tony O. Elumelu and Bill Marriott, chairman, Marriott International Inc.

 

The award was conferred on Elumelu in recognition of his outstanding work in promoting Entrepreneurship on the continent of Africa and across the globe. Elumelu, himself a serial entrepreneur, through his Tony Elumelu Foundation, has funded over 3,000 African entrepreneurs to date with his U$D100 million ccommitment to 10,000 entrepreneurs over a period of 10 years.

 

These entrepreneurs are expected to create a million new jobs and over U$D10 billion in revenue as a result of the initiative of Elumelu’s Foundation.

 

At the award’s gala, former American President George W. Bush, acknowledged the efforts of the African entrepreneur saying ‘I am impressed with Tony’s philanthropic initiatives which are powering job creation and entrepreneurship in a region(Africa), that is very dear to Laura and me.  To receive an award founded by President Eisenhower, has added meaning. Eisenhower provided example in leadership, which we can all learn from. Additionally, his belief in promoting international understanding is a vitally important responsibility.

 

Speaking on the reason why Elumelu was selected as the recipient of this prestigious award, Peter Tichansky, the CEO of BCIU said ‘Mr Elumelu’s bold approach and can-do mindset are exemplary characteristics of a visionary entrepreneur. He embodies the idea that companies must take the lead in bringing business and society together. His advocacy is proving that businesses, acting as businesses and not charitable donors, are the most powerful force for addressing social challenges and economic development’

 

Indeed this is the philosophy of Elumelu, founder of the concept of Africapitalism, which essentially states that Africa’s private sector must play a leading role in the development and growth of the continent as both governments and the private sector come together to make this happen.

 

Elumelu who was presented his award by Kip Forbes and Anne Eisenhower(the granddaughter of President Eisenhower,) in his acceptance speech stated: ‘President Eisenhower was a man of many dimensions and most important is his leadership. Being recognized today as a recipient of the inaugural global entrepreneurship award is an honour that resonates with so many people in Africa. What our entrepreneurs in Africa need is powerful leadership to further energise, encourage and motivate them to transform the continent.’ He went on to say ‘ I hope this will further spur on other Africans and friends of Africa, to make sure we work together for an inclusive prosperity’.

 

Elumelu dedicated his award to his wife and children as well as the staff of UBA, Transcorp, Heirs Holdings, the Tony Elumelu Foundation and all the other companies within his group of companies. He thanked BCIU on behalf of entrepreneurs in Africa: ‘On behalf of the over 3000 entrepreneurs who have benefitted from the Tony Elumelu Foundation Entrepreneurship programme, I say thank you very much.

 

The award ceremony and gala took place at the historic venue, the Cipriani on Wall street in New York

 

 

 


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Beware of Fake Cerelac Products – NAFDAC

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National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians on counterfeit and unregistered Cerelac Mixed Fruits and Wheat products being sold in Lagos.

Beware of Fake Cerelac Products – NAFDAC

NAFDAC said Nestle Nigeria, the genuine Marketing Authorisation Holder of the product, received a complaint of suspected counterfeit purportedly manufactured by Nestlé Spain, bearing Batch Code 308002910.

It said that Nestle Nigeria reported that the complainant described that the counterfeit product emitted an odour suggestive of possible contact with fuel.

NAFDAC said that preliminary review of the product by Nestle Nigeria indicated that it had expired, in spite of the container displaying an expiry date of 10-2026, which suggested that the date coding had been tampered with (revalidated).

Nestle Cerelac Mixed Fruits and Wheat is a nutritious infant cereal, designed to be a delicious first food for infants.

NAFDAC said that its post-marketing surveillance’s directorate officers in Lagos conducted a surveillance visit to Maxland Shopping Centre, 193 Ago Palace, Okota, where the product was purchased by the complainant.

It added that the suspected counterfeit and unregistered Cerelac were found on sale at the premises and subsequently mopped up, while Nestle assisted in identifying the distinguishing features between registered and unregistered product.

According to the regulatory agency, Nestle revealed that the unregistered product used a hyphen (-) to separate the day from the year, while the registered product used a slash (/) to separate the day from the year.

“It is important to note that Nestle Nigeria is not aware of the channels through which the products are supplied into the country.

“Healthcare professionals and consumers are advised to report any suspicion of the sale of substandard and falsified regulated products to the nearest NAFDAC office, call 0800-162-3322, or send an email to [email protected],” NAFDAC said.

The agency warned that counterfeit formula often lacked essential nutrients, vitamins and minerals, leading to stunted growth or developmental issues.

It said that such formula might also contain contaminants that might lead to severe health consequences to infants or even death.

NAFDAC reiterated its commitment to safeguarding public health adding that it would continue surveillance activities to ensure the quality, safety, and efficacy of all NAFDAC-regulated products circulating in Nigeria.

It said that all zonal directors of the agency and state coordinators had been directed to carry out surveillance and mop up the revalidated product, if found within the zones and states.

The agency urged distributors, retailers, healthcare professionals, and caregivers to exercise caution and vigilance within the supply chain, to avoid the distribution, sale, and use of fake products.


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NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

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The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.

Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.

“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.

Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.

“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.

He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.

“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.

During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.

Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.

“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.

The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.

In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.

Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.

The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.

 


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NRS Takes Over Mineral Royalties Collection Under New Tax Laws

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Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS Takes Over Mineral Royalties Collection Under New Tax Laws

NRS

The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.

Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.

NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.

Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.

The move aims to streamline revenue collection while fostering mining growth.


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