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The Tony Elumelu Foundation Delivers Empowerment Support to the 2026 Cohort

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Tony Elumelu

Tony Elumelu Foundation 2026 cohort empowerment sees 3,200 young Africans selected for funding, mentorship and training support

The Tony O. Elumelu Foundation (TEF), a leading African philanthropy based in Lagos, Nigeria, on Sunday, March 22, 2026, announced the selection of its 12th cohort under the flagship entrepreneurship programme, confirming plans to empower 3,200 young entrepreneurs across the continent under the Tony Elumelu Foundation 2026 cohort empowerment initiative.

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Also read: Tony Elumelu Foundation announces $15 million grant to support 3,000 African entrepreneurs

The announcement marks a significant milestone in the Foundation’s long-running intervention aimed at supporting African-led enterprise through funding, training and mentorship. The 2026 cohort was drawn from a highly competitive pool of more than 265,000 applicants across all 54 African countries, reflecting both the scale of demand and the growing urgency for economic opportunity among young people.

The Foundation, established by Tony O. Elumelu, C.F.R., has continued to position entrepreneurship as a central pillar of Africa’s economic transformation. According to programme details, the selected entrepreneurs will receive seed capital of $5,000 each, alongside structured business training via TEFConnect, personalised mentorship, and access to a global investor network.

A spokesperson for the Foundation described the selection process as rigorous and independently conducted by Ernst & Young, underscoring its commitment to transparency and credibility. The Tony Elumelu Foundation 2026 cohort empowerment scheme also extends beyond the flagship programme, with additional beneficiaries supported through partnerships with international development organisations and private sector institutions.

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Collectively, the initiative is expected to reinforce job creation and business expansion across multiple sectors, with the Foundation maintaining that entrepreneurship remains a powerful and sustainable route to tackling unemployment and poverty on the continent.

Tony O. Elumelu, speaking ahead of the announcement, reaffirmed the Foundation’s vision of a self-reliant Africa driven by innovative entrepreneurs, stressing that the impact of the programme continues to grow year after year.

Also read: Tony Elumelu Calls on Africa to Empower Entrepreneurs

The latest cohort will join an alumni network of more than 24,000 entrepreneurs who have benefited from the programme since inception, further strengthening what has become one of Africa’s most recognised private-sector-led empowerment platforms.

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Adeboye Ordered Refund of Billions in Illicit Donations, EFCC Reveals

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The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, ordered the refund of billions of naira donated towards a church project after the funds were traced to proceeds of financial crime, the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed.

Olukoyede said Adeboye directed the immediate return of the money within 24 hours after the church was informed of the findings of the commission’s investigation.

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The EFCC chairman made the disclosure while addressing RCCG workers in the early hours of Saturday, November 7, during a meeting organised ahead of the church’s annual Holy Ghost Congress.

According to Church Times Nigeria, which reported the development, Adeboye had invited Olukoyede to speak to the workers on financial propriety, accountability and the importance of maintaining transparent financial records.

Recounting the incident, Olukoyede said a church member had donated billions of naira towards an RCCG project, but investigations by the commission later established that the money originated from financial crime.

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He said the church was alerted to the findings, following which Adeboye ordered that the donation be returned.

Olukoyede commended the cleric for responding promptly and directing the refund within 24 hours of receiving the information.

However, the EFCC chairman did not disclose the identity of the donor, the exact amount involved or the particular church project for which the donation was made.

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The anti-graft agency chief expressed concern over cases involving religious leaders and financial misconduct, including questionable transactions and allegations relating to contracts for church projects.

He warned church workers and religious leaders against accepting donations from individuals whose sources of wealth had not been properly established.

Olukoyede, who is also an ordained pastor, stressed that religious institutions must not become channels through which proceeds of crime are concealed or given legitimacy.

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He also recounted a separate case involving another church allegedly connected to a Ponzi scheme.

According to him, the church leader initially resisted the EFCC’s intervention but later refunded a substantial amount after the commission threatened to institute legal proceedings.

The EFCC chairman said the commission would not spare individuals involved in financial crimes because of their religious positions or affiliations.

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He further cautioned RCCG workers against excessive materialism, unhealthy competition and struggles for leadership positions, warning that such tendencies could encourage financial misconduct.

Olukoyede also raised concerns about reports of individuals allegedly offering bribes to secure leadership positions within the church.

He urged pastors to exercise due diligence before accepting donations, insisting that they should establish how contributors made their money rather than focus solely on the size of their financial commitments.

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In his response, Adeboye reportedly assured the EFCC chairman that the church would not protect anyone found involved in financial wrongdoing.

The cleric also urged RCCG pastors to maintain accurate financial records and ensure that their activities were free from corruption.

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