LAGOS, Nigeria, August 4, 2023 – 

Calling all early-stage startups based in Africa! The 2023 ARM Labs Lagos Techstars Accelerator Program is now accepting applications until August 9, 2023. Don’t miss this opportunity to receive up to $120,000 in investment and be a part of this transformative program! 

In partnership with ARM Labs, a Lagos-based innovation program, Techstars, the most active pre-seed investor in the world, is thrilled to announce the call for applications for its highly sought-after accelerator program. Following the success of the inaugural program in 2022, this year’s edition will focus on early-stage Africa-based startups. 

The three-month, in-person program will be held in Lagos, Nigeria. During the first month, selected startups will receive hands-on training and interact with over 100 Techstars mentors to refine their value proposition. The second month will feature guest speakers, tailored workshops, and one-on-one support to help founders execute and accelerate their businesses. The third month will be dedicated to preparing the startups for fundraising and building crucial investor relationships. 

The ARM Labs Techstars Lagos program is Techstars’ only on-ground accelerator in Africa and is supported by key ecosystem leaders in Africa, including Ashim Egunjobi, Partner at Octerra Capital, Tunde Kehinde, Founding member of Jumia and Founder and CEO of Lidya, Olumide Soyombo, Partner at Voltron Capital, Alice Tomdio, Chief Financial Officer of YellowCard, Amandine Lobelle, Chief Operating Officer of Paystack, and Adedeji Olowe, Founder and CEO of Lendsqr. 

Act Now – Applications Close on August 9, 2023 

Founders are encouraged to submit their applications early as they will be reviewed on a rolling basis. Don’t miss this unique opportunity to accelerate your startup’s growth and gain access to a global network of mentors, investors, and partners. 

The program will commence on November 13, 2023, and conclude with a Demo Day showcase on February 15, 2024. Last year’s invite-only Demo Day had over 400+ attendees in person, with an additional 2,500+ people streaming the event live on YouTube and LinkedIn. 

About Techstars:  

Techstars is the most active pre-seed investor in the world, having invested through its accelerators in more than 3,700 companies with a combined market cap of $99 billion. Founded in 2006, Techstars believes that entrepreneurs create a better future for everyone, and great ideas can come from anywhere. Its mission is to invest in an unprecedented number of startups per year, enabling more capital to flow to more entrepreneurs worldwide. Techstars operates accelerator programs and venture capital funds, connecting startups, investors, corporations, and cities to build thriving startup communities. Learn more at 

About ARM:  

Established in 1994, ARM is a leading investment management firm providing a wide range of wealth management services to a substantial and diversified client base, including corporations, foundations and charities, high net-worth individuals, and small savers. For more details, visit 


Media Contacts:  

ARM Labs Lagos Techstars Accelerator:  

Oluwadunni Fanibe 

[email protected] 



Amalia Lytle 

[email protected] 



Empowering Beneficiaries: Understanding and Safeguarding Their Rights in Estate Planning


By Mofoluke Keshinro TEP

When beneficiaries are named in a Trust Deed or a Will, there are certain rights they enjoy, these rights are very important and must be protected because they form a critical part of estate planning.

In this blogpost we will discuss the rights of Beneficiaries and how to protect these rights.

Let’s define who a Beneficiary is – Beneficiaries are the individuals or entities who are designated to receive assets or income from a Trust, Estate or a Will.

These rights are outlined below:

  1. Right To Access Assets in the Trust/Will – Beneficiaries have a right to the assets designated for them in the Trust or Will which includes distribution of funds/payments.
  2. Right To Information – Beneficiaries have a right to be carried all along on all activities regarding the Trust or Will administration.
  3. Right To Sue – Beneficiaries have a right to sure the Trustee or Executor/Trustee where they have failed to meet the expectations required of their role or they have been fraudulent. Or where the Trustee or Executor/Trustee has been found not to be working in their best interest.
  4. Right to Account Books – Beneficiaries are entitled to accounting reports on the Trust or Estate’s investments, inflows and outflows. They can engage an auditor to check the books to validate the figures stated as the financial position of the Trust/Estate.
  5. Right to Trust Documents/Will – Beneficiaries have a right to the Trust Deed and the Will which sets out their benefits.
  6. Right to Change the Trustee and/or Executor/Trustee – Beneficiaries can change the Trustee and/or Executor/Trustee where they’ve acted impartially, they have misappropriated Trust Fund or estate funds/assets or where they’ve incurred losses and mismanaged the Trust Fund/Estate assets.

How to Protect These Rights

To protect Beneficiaries’ rights, several legal and practical measures can be implemented as outlined below:

Creating An Unambiguous Estate Planning Documentation:

When drawing up your estate planning documents either a Trust Deed or a Will, ensure the wording in the document are clear and unambiguous. Drafting a clear and simple estate planning document creates a good foundation for the administration of the Trust/estate and ensures protection of beneficiaries’ rights. The estate planning document should outline the terms of the Trust or Estate, which must include the beneficiaries’ names, the benefits accruable to each beneficiary, when they get the benefits, if you have any restriction like spendthrift clauses these must be clear and implemented in line with your directives. Having a well drafted estate planning document will enable seamless administration and prevent misinterpretations which can lead to misunderstandings and disputes among beneficiaries and Trustees and/or executor/Trustee.

Choice of Trustee and/or Executor/Trustee:

The choice of a Trustee or Executor/Trustee is one that must be carefully done. In the selection, you must ensure you are sure if you will use an individual or institution like a Trust company. The qualities that must possesses must include integrity, being financially savvy, professional, accountable, equitable, impartial and transparent. The reason for this is because a Trustee is responsible for managing the Trust/estate assets and would also be responsible for distributing the assets to the beneficiaries in line with the directives in the estate planning documents. A Trustee and/or Executor/Trustee must be willing to act, must be competent to prevent an abuse of the rights of the beneficiaries.

Periodic Updates:

When the Trustee and/or Executor/Trustee gives regular updates and discloses information regarding the administration of the Trust helps to keep the Beneficiaries in the loop especially where there are changes to be made. Information disclosure and regular updates also validates the rights of the Beneficiaries to information on the Trust administration or Estate affairs. This also builds trust and transparency.

Recordkeeping and Accounting:

One of the key responsibilities of the Trustee and/or Executor/Trustee is to maintain accurate records of the Trust/Estate’s assets, income, expenses, and distributions. Keeping records of inflows and outflows, sales, dividend and other accruals to the Trust Account/Estate and sharing this information periodically as account statements with the beneficiaries can help ensure transparency and accountability which establishes the integrity of the Trustee/Executor/Trustee. This also gives the Beneficiaries the opportunity to monitor the growth of the Trust/Estate’s assets.

Assessing The Performance Of The Trustee and/or Executor/Trustee:

Beneficiaries have a right to monitor and assess the Trustee and/or Executor/Trustee’s actions with respect to the Trust Fund/Estate assets. This is with a view to ensuring these actions are in the best interests of the Trust and/or the Estate. Where there is a reason to doubt the Trustee and/or Executor/Trustee due to misappropriation, mismanagement, loss of assets or income, or unfair treatment which can lead to violation of the fiduciary duties, the beneficiaries can take legal action to hold the Trustee and/or the Executor/Trustee accountable to protect their rights.

Legal Representation:

Where there are disputes regarding administration of Trust/estate assets, Beneficiaries may hire a lawyer to represent their interests to seek redress. Also, where there is misinterpretation of any clause in the estate planning document, Beneficiaries can seek legal advice and interpretation, if necessary. Beneficiaries can also explore resolution of conflicts or disputes through alternative dispute resolution without the hassle of litigation, alternative dispute resolution is faster and more cost efficient.

It is important to acknowledge the rights of beneficiaries, also these rights must be protected by ensuring the directives of the asset owner is followed in distribution of Trust/Estate assets or income while ensuring the designated beneficiaries have access to the assets in the Trust and Estate.