News
Tony Elumelu – Building People, Enriching African Lives

Anthony Onyemaechi Elumelu, one of Africa’s leading investors and philanthropists has been a positive influence on those around him and has been motivating others toward success.

Tony Elumelu
Also know as Tony O. Elumelu, is the chairman of the United Bank for Africa (UBA), Heirs Holdings and Tony Elumelu Foundation as well as Transcorp Group .
With unembellished record, Elumelu, is one of the most sought-after bankers and entrepreneurs, who through tenacity, resilience and philanthropy has continued to thrive where others fear to tread.
Like George Bernard Shaw, the playwright said, “People who say it cannot be done should not interrupt those who are doing it.”
Known for his significant contribution to entrepreneurship in Africa, Elumelu, created The Tony Elumelu Foundation (TEF) in 2010, the philanthropy empowering a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and ensuring job creation across all 54 African countries.
Tony Elumelu Foundation is an African non-profit organization founded and headquartered in Lagos, Nigeria.
It is a pioneer member of the Global Impact Investment Rating System.
This year, the foundation is celebrating 13 years of empowering African entrepreneurs.
The foundation believes in African Entrepreneurship and therefore deliberately built an infrastructure that supports entrepreneurial talents across the continent.
Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed over $100 million in direct funding to 20,000 young African women and men, who have collectively created over 400,000 direct and indirect jobs.
The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
The Foundation’s empowerment means young Africans are having power and control over their own lives.
They get the support they need that is right for them.
Elumelu who is a Fellow of the Nigeria Leadership Initiative (NLI), is involved, through his Foundation, with the Tony Blair Africa Governance Initiative (AGI) in a partnership to strengthen the private sector’s role in the economic transformation of select African countries.
This partnership is called the Blair-Elumelu Fellowship Programme.
He is co-chair of the Africa Energy Leaders’ Group (AELG).
Elumelu revealed that “luck is important but that doesn’t make it a substitute for hard work or labour.
Hard work and passion are the two most important ingredients for luck.
Elumelu’s business model is winning him respect and recognitions from notable organisations and leaders across the globe.
And he is giving back big time through relentless investment in human capital/
These investments in human capital are playing important roles in increasing competitiveness, improving quality of life of the population and in generating economic growth and development of a country
Elumelu was born in Jos, Plateau, Nigeria, on 22 March 1963, to Suzanne and Dominic Elumelu from Onicha-Ukwu in Aniocha North Local Government Area of Delta State.
He studied Economics at Bendel State University (now Ambrose Alli University) obtaining a Bachelor of Science.
Afterward, he studied and received a Master of Science degree in Economics at the University of Lagos.
Elumelu worked in the Nigerian Bank Union Bank as a Youth Corp member during his National Youth Service Corps in 1985, before starting his career as a salesman.
On his early career, he has said: I started my career as a salesman, a copier salesman to be specific, young, hungry, and hardworking, but the reality was that I was just one of the thousands of young Nigerian graduates, all eager to succeed.
In 1997, Elumelu led a small group of investors to take over a struggling Crystal Bank (later renamed Standard Trust Bank).
He turned it profitable within a few years and in 2005, he led one of the largest mergers in the banking sector in Sub-Saharan Africa by acquiring United Bank for Africa (UBA).
He is recipient of many local and international awards; and on 11 October 2022, Elumelu received the National honour of Commander of the Order of the Federal Republic.
He is married and blessed with children.
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News
Firms Commit to Boost African Robotics Market

AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.
According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.
The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.
AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.
The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.
“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.
Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.
Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.
The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.
Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”
News
Subair: LIRS Won’t Raid Accounts – Unless You’ve Lost Every Court Battle

Lagos State Internal Revenue Service Executive Chairman Ayodele Subair Tuesday demolished online panic over alleged bank account raids, insisting the agency’s “Power of Substitution” targets only hardcore tax dodgers who have exhausted every appeal from tribunals to the Supreme Court over half a decade of disputes.

Ayodele Subair
Subair, speaking on Arise TV, shredded viral fears that LIRS would swoop on residents’ savings without warning, clarifying the mechanism under Section 60 of the Nigeria Tax Administration Act 2025 kicks in solely after assessments spark objections, reconciliations, demand notices, and a gruelling courtroom odyssey through High Court, Court of Appeal, and apex rulings.
The LIRS weekend notice had ignited fury by announcing enforcement via third parties – banks, employers, tenants, debtors – to claw back unpaid Personal Income Tax, Capital Gains Tax, Stamp Duties, and Withholding Tax from chronic defaulters holding funds or owing money to them, whether due now or accruing later.
Subair likened the process to a “long timeframe, not less than five years,” where recalcitrant bigwigs who stonewall every step become fair game, with LIRS directing agents like customers or partners to divert payments straight to the taxman in lawful settlement.
Far from arbitrary grabs, the chairman stressed it’s a final resort for “entirely recalcitrant” holdouts who ignore Notice of Refusal to Amend (NORA) and every olive branch, ensuring Lagos coffers snag rightful revenue fuelling the state’s bulging budget without shotgun raids on compliant payers.
As social media buzzes with defiance – “They can’t touch my account!” – Subair’s blueprint spotlights Nigeria’s tax evasion scourge starving subnationals of trillions yearly, with Lagos alone chasing billions in arrears amid federal revenue wars and economic headwinds squeezing the commercial capital’s 25 million souls.
Industry voices nod to the legality but plead for digital dashboards tracking disputes transparently, warning overzealous recovery could spook investors in Africa’s fintech and startup mecca already reeling from naira nosedives and grid glitches.
With LIRS poised to unleash the hammer on vetted violators, Subair’s clarion call aims to separate myth from muscle, bolstering Lagos’ IGR juggernaut that hit N815 billion last year while daring defaulters to test the full judicial gauntlet before crying foul.
News
NIGCOMSAT Adopts Government’s Performance System

Nigerian Communications Satellite (NIGCOMSAT) Ltd, in a strategic move to modernise its operations and foster a results-oriented workforce, has officially adopted the Federal Government’s Performance Management System (PMS).

The initiative, aimed at driving efficiency and institutionalising accountability, was marked by an intensive staff training program designed to align the agency’s operations with national performance goals and the Presidency’s vision for a digital-first public sector.
According to a statement from Stephen Kwande, the Agency’s acting head of Corporate Affairs, “the transition to PMS is a departure from historical evaluation methods. The new system is designed to provide real-time performance tracking and instill a stronger work ethic across all directorates”.
Welcoming participants, Mrs. Jane Nkechi Egerton-Idehen, managing director/CEO of NIGCOMSAT, represented by Abiodun Attah, executive diirector, Technical Services, described the adoption as “long overdue.”
She emphasised that the system is critical for ensuring that NIGCOMSAT contributes effectively to Nigeria’s broader digital economy targets.
In her opening remarks, Mrs. Chinwe Udogu, general manager, Human Resources Management, expressed NIGCOMSAT’s enthusiasm for the program, urging staff to dedicate themselves fully to the three-day training.
She noted that the exercise was pivotal in repositioning the company to achieve its highest aspirations.
The training consultant, Mrs. Njoku Chioma, said the program is expected to drive culture change, automate work processes, and strengthen institutional performance.
The three-day training, jointly organised by the Office of the Head of Service of the Federation and NIGCOMSAT Management, covers key themes including:
• Overview of the FCSSI25 as an institutional performance-driven Federal Civil/Public Service
• Service culture and workplace attitude in the Nigerian public sector
• Implementation of the Performance Management System in NIGCOMSAT
• Application of Artificial Intelligence tools to enhance performance in the Nigerian public sector
The move comes at a time when NIGCOMSAT is expanding its footprint, with recent initiatives like the 2026 SpaceTech Accelerator Programme and partnerships for grassroots digital skills training.
By strengthening its internal management framework, the agency aims to ensure that its technical advancements in satellite technology are matched by an equally efficient administrative engine.
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