We are applicants in the 2023 cohort of the Tony Elumelu Foundation (TEF). The experience has been distressing, with our mental health suffering due to the unprofessional conduct of the foundation's administrators. After fulfilling certain conditions to stand a chance to receive a grant, TEF has shut out over 90 percent of the applicants.

What is most bizarre is that TEF asked applicants to submit a 'SEED CAPITAL DISBURSEMENT UNDERTAKING'. Even after submitting a notarized copy of the document, TEF has now discarded the applicants who were asked to submit without any explainable reason. This undertaking premised that an applicant had been awarded the grant and was to use it as required. This move by TEF is disheartening for applicants who have invested time, money and effort into meeting their requirements. See herefollow the contents of the seed capital disbursement undertaking:

"

2023 TONY ELUMELU FOUNDATION SEED CAPITAL DISBRUSEMENT UNDERTAKING

This undertaking is given this …….. To the Tony Elumelu Foundation “TEF” (Which expression shall include its successors and assigns) BY: …… of Registered Office/ Place of …….. Hereinafter called the “Undersigned” (which expression shall include his/her heirs, successors and permitted assigns). WHEREAS

1. The Undersigned is a beneficiary of the 2023 Tony Elumelu Foundation and has successfully participated and successfully completed the TEF Business Management Training Programme in a form satisfactory to TEF.

2. TEF wishes to disburse to the Undersigned the seed capital of US$5,000 (Five Thousand United States Dollars) and requires the Undersigned to furnish the below undertakings with respect to the utilization of the seed capital. Now therefore in consideration of TEF making available the seed capital to the Undersigned, the Undersigned hereby undertakes and agrees: -

1. To utilize the seed capital solely for the execution of the business plan according to the statement of utilization and for no other purpose

2. To provide evidence of equipment, and other services procured with the seed capital in the form of invoices, letters, and other documents showing satisfactory evidence of procurement with the seed capital.

3. To provide photographs of the equipment purchased/installed with the seed capital.

4. To submit monthly financial and non-financial information to TEF in the required format and as may be advised by TEF from time to time.

5. To provide quarterly reports on execution of business plan vis-à-vis the milestones.

6. To notify TEF within 2 weeks of effecting any of the following changes:

I. Change in composition of board of directors,

ii. Change in registered office address,

iii. change in its Memorandum &Articles of Association,

iv. change in shareholding structure, including any transfer of shares, increase or reduction in share capital or any other capital re-organization change that will result in a change in control of the Undersigned or result in the Undertaking becoming a subsidiary or affiliate of another entity,

vi. Acquisition of another entity or business,

vii. Divestment of the whole or any part of your current business.

7. The Undersigned shall not engage in any unlawful or illegal act or business including but not limited to money laundering or the financing of terrorism and shall not utilise any portion of the seed capital for any such activity.

The Undersigned hereby confirms that the information provided in the application form of the Undersigned for the seed capital disbursement is true and correct to the best of the knowledge and belief of the Undersigned and that the above undertakings will be binding on the successors and permitted assigns of the Undersigned.

Name:

Signature:

Date:

"

We are not entitled, or feel we are owed. We only feel used for an unknown agenda by an organization that solicited for our application, and even continues to solicit for applications for 2024 cohort.

The TEF prides itself on being an African-founded philanthropic organization that supports entrepreneurship in Africa. However, their recent actions contradict this mission.

In light of these circumstances, we are calling for

1. Clarification by TEF for the move to ask applicants to submit a commitment of fund use, which they never received. Notary public asked for 2% of the $5000 , which is $100, which selected applicants ended up paying.

2. An official list of beneficiaries that will show the number per country of awardees.

We believe that this step is necessary for restoring faith in the foundation's commitment towards supporting African entrepreneurs.

We urge you all - fellow applicants, supporters of entrepreneurship in Africa, and advocates for professional conduct - to sign this petition demanding accountability from those at helm at TEF. Let us ensure that future cohorts do not face similar issues and can focus on what truly matters - building successful businesses that contribute positively towards Africa's growth story.