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Elumelu at TEF Says Entrepreneurship is the Key to Unlocking Economic Development

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Founder, The Tony Elumelu Foundation, Mr. Tony O. Elumelu and The President, Republic of Ghana, Dr, Nana Akufo-Addo, at the TEF Entrepreneurship Forum 2018, the largest gathering of young African entrepreneurs, and the launch of TEF Connect, the world’s largest digital platform for African Entrepreneurs , organised by The Tony Elumelu Foundation in Lagos
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5,000 African entrepreneurs, private and public sector leaders and the broader entrepreneurship ecosystem convened in Lagos on Thursday, October 25, 2018 for the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum.

 

The event which is the largest gathering of African entrepreneurs in the world, is a unique opportunity for bringing together young business talent, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation.

 

Now in its fourth year, the Forum marked the graduation of the 2018 cohort of the TEF Entrepreneurship Programme, following a rigorous nine-month period of training, mentorship and funding, which brought the total number of beneficiaries of the Programme to 4,470, with over 300,000 applications received to date.

 

One of the highlights was the unveiling of TEFConnect, a revolutionary digital community that brings together the complete entrepreneurship ecosystem across Africa and beyond, including entrepreneurs, investors and the broader business community on one platform, connecting them digitally with three vital elements for success – capital, market and business tools. Africa is riding a wave of rapid technological driven change in payment systems, education, agriculture and infrastructure and TEFConnect  fulfills a critical role in linking entrepreneurs across the continent.

 

Commencing with a series of goodwill messages from key stakeholders in the investment, governmental and development communities, the event featured a pitching competition, panel discussions, as well as a vibrant interactive session between His Excellency, President Nana Akufo-Addo and the entrepreneurs, moderated by TEF Founder, Tony O. Elumelu.

 

It also featured a session on the role of the private sector in the economic development of Africa with Dr. Awele Elumelu, TEF Trustee, Founder, Avon Medical and Gavi Champion for Immunisation in Africa; moderated by CNNMoney Africa Correspondent, Eleni Giokos. Parminder Vir, CEO, Tony Elumelu Foundation also unveiled the TEF Impact Documentary, featuring success stories of the Tony Elumeluu Entrepreneurs.

 

 

 

Tony Elumelu reiterated his commitment to championing Africa’s economic development by supporting and training a new generation of entrepreneurs, whose successes can transform the continent, delivering opportunity, job creation and social impact. ‘Africa’s future is in African hands’ he stated.

 

“Our Foundation and its unique approach of training, mentoring and funding has proven that entrepreneurship is the key to unlocking economic transformation of our continent. I believe so strongly that success can be democratized and if we can match ambition to opportunities, this extraordinary generation can achieve anything,” said Tony Elumelu.  “With TEFConnect, we have created a tool, that provides a digital platform to host ideas, champion success and demonstrate Africans ability to use the most advanced technologies to take charge of their economic destinies.”

 

President Nana Akudo-Addo of Ghana underlined the importance of galvanizing the broad entrepreneurship eco-system, calling on public sector representatives to encourage, support and replicate the work of the Tony Elumelu Foundation in their respective regions.

 

Speaking on the importance of putting the right policies in place, President Nana Akufo-Addo said: “Nothing is changed or developed on its own. People must get up, speak, have discussions and change the dialogue”.

 

Since its inception, the Tony Elumelu Foundation has empowered African entrepreneurs across the continent with a $5,000 non-refundable seed grant, a bespoke training programme designed specifically for the African environment and access to a dedicated group of mentors, significantly contributing to economic growth, job creation and revenue generation

 

The Forum was attended by key players in the private and public sector including Governor, Kebbi State, Senator Abubakar Atiku Bagudu; Governor of Bauchi State, Alhaji Mohammed Abdulahi Abubakar; President, Lagos Chamber of Commerce and Industry, Nike Akande; Former Governor, Cross River State, HE Donald Duke and Former Governor of Anambra State, HE Peter Obi.

 

 


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EFCC Which Handles Sensitive Data, Financial Records has No Privacy Policy on Website- FiJ

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Economic and Financial Crimes Commission (EFCC) does not currently maintain a public privacy policy on www.efcc.gov.ng, its official website.

EFCC Which Handles Sensitive Data, Financial Records has No Privacy Policy on Website- FiJ

Ola Olukoyede, EFCC chairman, EFCC

This is despite partnering with the Nigeria Data Protection Commission (NDPC) to ensure data compliance according to findings by Foundation for Investigative Journalism (FIJ)

As a law enforcement agency, the EFCC handles highly sensitive personal data and financial records, but its main web portal does not currently provide a formal, publicly available privacy policy detailing how user data is collected, stored, or processed.

According to the National Information Technology Development Agency (NITDA), all government websites are mandated to have privacy policies.

Section 10.4 (i, ii) of the NITDA Privacy Policy mandates all government websites to exercise diligence when collecting personal details or information about visitors to their websites.

It equally requires all government websites to incorporate prominently displayed privacy statements clearly stating the purpose for which information is being collected where the government institution seeks to or collects personal information from visitors through its website.

In addition, the Nigeria Data Protection Act (NDPA) 2023 requires every data controller to make a privacy notice available to citizens before or at the point of collecting their personal data.

That notice must state the specific lawful basis of processing, the purposes of the processing, the categories of recipients of the personal data, the existence of data subject rights, and the right to lodge a complaint with the Commission.

The law further states that such information must be contained in a privacy policy and expressed in a clear, concise, transparent, intelligible and easily accessible format, taking into consideration the class of data subjects targeted by the data processing.

However, on Monday, FIJ checked the anti-graft agency’s website and found that it had no privacy policy or privacy notice informing users how their personal data is collected, processed, stored or shared.

FIJ found that Nigerians can submit petitions to the EFCC on the website.

During this process, the website compulsorily collects personal data such as names, National Identification Numbers (NIN), email addresses, local government areas (LGAs), phone numbers and residential addresses.

Also, organizations and financial institutions (such as commercial banks) are legally mandated to share customer information and suspicious transactions with the EFCC to prevent financial crimes.

However, the website collects this information without specifically informing users what happens to the data they provide.

Ironically, in September 2024, the EFCC and the Nigeria Data Protection Commission (NDPC) agreed to forge a partnership and collaboration towards strengthening cyber data protection in the country.

The agreement was reached in Abuja on September 18, 2024, when Vincent Olatunji, national commissioner and chief executive officer of the NDPC, led a delegation of management staff on a courtesy visit to Ola Olukoyede, EFCC chairman, at the commission’s corporate headquarters.

Despite partnering with Nigeria’s data protection regulator, the EFCC still has no privacy policy on its website.

At press time, the EFCC met none of the privacy policy requirements stipulated by both NITDA guidelines and the NDPA 2023.

 


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Moniepoint DreamDevs Bootcamp Second Cohort Set for Demo Day

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Moniepoint is proud to announce that the second cohort of its flagship DreamDevs Bootcamp is set to culminate in a Demo Day celebration on May 26, 2026, at its Ikeja facility. The event, themed “Training Done! Demo Up!”, will showcase the capstone projects built by participants following nine weeks of intensive, industry-grade software engineering training.

The DreamDevs Bootcamp is Moniepoint’s commitment to identifying and developing the brightest engineering talent across Africa. The nine-week intensive programme is designed to immerse participants in real-world, practical software engineering through a curriculum spanning Java OOP Foundations, Data Structures & Algorithms, Testing, MySQL & JDBC, Spring Boot APIs & System Design, Docker & Messaging Queues, Frontend UI & Cloud Infrastructure, and core Practical Software Engineering Concepts. In recognition of their commitment and effort, cohort participants are paid monthly throughout the duration of the programme.

The curriculum was developed by the Engineering Unit at Moniepoint and delivered in partnership with Semicolon, a leading technology education institution. Admission to the DreamDevs Bootcamp is highly competitive, with only top performers advancing through multiple stages of assessment, including a HackerRank technical test and an in-person code challenge, before earning a place in the programme.

Felix Ike, Co-Founder and CTO of Moniepoint, reflected on what the programme means to the company and the country, “Engineering excellence is a curated and intentionally built process that requires the right systems, resources, and time. The DreamDevs Bootcamp is our way of taking that responsibility seriously.

“We designed a programme that does not just teach syntax or frameworks, but develops engineers who can think, solve, and build at the highest level. Seeing graduates from our first cohort already thriving within our engineering team tells us we are on the right track, and we are excited to see what this second group brings to Demo Day.”

Some of the first cohort’s successful graduates are now active members of the Moniepoint engineering team, a testament to the programme’s effectiveness and its role as a genuine pipeline for world-class engineering talent.

The DreamDevs Bootcamp reflects Moniepoint’s broader mission to invest in Nigeria’s talent and build engineering capacity that can compete and lead on a global stage. Moniepoint looks forward to welcoming the second cohort to the fold and witnessing the innovative solutions they have built.


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FG Unveils Free Tax Dispute Resolution Platforms for Nigerians

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Federal Government on Monday unveiled digital platforms under the Office of the Tax Ombud, enabling Nigerian taxpayers to resolve tax-related disputes free of charge as part of efforts to improve fairness, transparency and accountability in tax administration.

FG unveils free tax dispute resolution platforms for Nigerians

Taiwo Oyedele

Taiwo Oyedele, minister of finance and coordinating minister of the economy, disclosed this during the launch of the Tax Ombud website, toll-free call centre and case management system at Stratton Hotel, Abuja.

Oyedele described the initiative as a major milestone in Nigeria’s fiscal reform agenda, saying the platforms would make tax dispute resolution more accessible to taxpayers nationwide.

“Taxpayers, regardless of location, can now engage more easily with the dispute resolution process without unnecessary administrative bottlenecks or delays, and the good news is that it is entirely free,” he said.

According to him, the Office of the Tax Ombud was established to strengthen taxpayer protection and boost confidence in Nigeria’s tax administration system.

He said the institution would serve as an independent and impartial platform for resolving complaints, mediating disputes and addressing systemic tax issues across the country.

Oyedele added that the initiative aligns with the Federal Government’s broader tax reforms aimed at simplifying tax administration, reducing arbitrariness, protecting taxpayer rights, encouraging voluntary compliance and building a globally competitive fiscal system.

“As we unveil these platforms today, let this mark a new era in tax administration in Nigeria, where taxpayers are treated not as adversaries but as partners in national development,” he said.

Minister of Information and National Orientation, Mohammed Idris, said Nigerians needed more awareness about the role of the Tax Ombud in supporting the economic reforms of President Bola Tinubu’s administration.

Idris said the government’s economic reforms were beginning to yield positive results, citing improvements in revenue performance and investment inflows.

Also speaking, Head of the Civil Service of the Federation, Didi Walson-Jack, described the platforms as citizen-centred reforms designed to improve public access to tax complaint resolution.

She said tax administration should not only focus on revenue generation but also on strengthening trust and confidence in public institutions.

Nigeria’s first Tax Ombudsman and Chief Executive of the Office of the Tax Ombud, John Nwabueze, said the office was established under Part Six of the Joint Revenue Board of Nigeria Establishment Act 2025 to promote fairness, transparency and efficiency in tax administration.

He said the digital platforms would allow taxpayers to lodge complaints online or through the toll-free centre, track cases in real time and access mediation services without resorting to prolonged litigation.

Executive Secretary of the Joint Revenue Board, Olusegun Adesokan, said the office was created to protect taxpayer rights and mediate disputes between citizens and revenue authorities at no cost.

Special Adviser to the President on Economic Affairs in the Office of the Vice President, Tope Fasua, said the Tax Ombud forms part of the broader tax reform agenda initiated by the Presidential Fiscal Policy and Tax Reform Committee.

He noted that the reforms are aimed at widening the tax net while exempting small businesses and low-income earners from additional tax burdens.

In June 2025, President Tinubu signed four major tax reform bills into law, including the Nigeria Tax Act, in what government officials described as a comprehensive overhaul of the country’s tax system.


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