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Showing posts with label distressed. Show all posts
Showing posts with label distressed. Show all posts

Sunday, October 19, 2014

Elumelu promotes N1,4trn fund for distressed communities

Influential banker, Mr. Tony Elumelu through his Elumelu Nigeria Empowerment Fund has promoted a $9 million, about N1.4 trillion fund to empower and support distressed communities nationwide, reports NaijaAgroNet.
The Elumelu Nigeria Empowerment Fund, NaijaAgroNet recalls is an aftermath of a $16 Million pledged by Tony Elumelu in July 2014 at the Presidential Fundraising Dinner in support of victims by President Goodluck Jonathan to offer relief to victims affected by insurgency and conflict across the nation in recent years.

NaijaAgroNet  also gathered that Elumelu had reportedly disbursed N1 billion to the Victims Support Fund soon after the pledge, while the remaining N1.5 billion now serves as the initial seeding for the Elumelu Nigeria Empowerment Fund

A press statement made available to NaijaAgroNet, the Fund will focus on helping to revitalize the economies of post conflict and disaster communities.

“Rehabilitating distressed communities will require interventions not just from the government, but also from the private sector.  Therefore, I am pleased to see that Tony Elumelu, one of our private sector leaders, stepped up in a big way – by making a major contribution to the Victim Support Fund and that his effort did not end there as he has now created the Elumelu Nigeria Empowerment Fund,” said President  Jonathan.

The fund to be managed by Tony Elumelu Foundation’s arm, The Elumelu Nigeria Empowerment Fund, will work to transform communities that have been devastated by natural disasters and insurgency, into prosperous and economically sustainable communities. 

The Fund is expected to create opportunities and empower people in affected communities across Nigeria enabling them to rebuild their lives and businesses whilst instilling a sense of economic empowerment for the long-term.
Chuks Dominic
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Pix: Tony Elumelu