BoI Opens Application Portal For FG’s N75bn MSME Fund

  The Bank of Industry (BoI) on Monday announced the opening of its application portal for would-be beneficiaries the Federal Government’s N75billion Micro, Small, and Medium Enterprises (MSMEs) Intervention Fund. The Nigerian Association of Small Scale Industrialists (NASSI) lauded the FG for the intervention programme, describing it as lifeline for Nigerian MSMEs. A representative of the BoI, Amina Habu Mohammed disclosed the commencement of the application process during a press conference on a Memorandum of Understanding (MoU) between NASSI and Bank of Industry and sensitization on N75billion MSME Intervention Fund in Abuja. Amina said the fund targets 75million SMSEs at N1million each at nine per cent interest rate for a period of three years without collateral. He said the flexible loan aims to boost SMSEs in the country and improve the conditions of living of the people and that the application portal can be accessed at https://fgnboimsmeinterventionloan.boi.ng/ The National President of NASSI, Dr Solomon Vongfa, in his remarks, described the N75billion as a beacon of hope for countless MSMEs that have been struggling to access affordable credit. Vongfa said: “I stand before you today to express our profound gratitude to the Federal Government of Nigeria for its visionary initiative to launch the N75billion MSME Intervention Fund. “This landmark program, in partnership with the Bank of Industry (BOI), is a testament to the government’s unwavering commitment to empowering Micro, Small, and Medium Enterprises (MSMEs) across the nation. “The N75billion MSME Intervention Fund is more than just a financial injection; it is a beacon of hope for countless MSMEs that have been struggling to access affordable credit. “This initiative will undoubtedly catalyze economic growth, create jobs, and foster innovation.” According to him, the fund offers loans at competitive interest rates, making it easier for MSMEs to secure the capital they need to expand their operations. He added that the application process has been streamlined to minimise bureaucratic hurdles and ensure timely disbursement of funds. He said the fund would provide technical assistance and capacity-building programmes to help MSMEs improve their business practices and enhance their competitiveness. On the role of NASSI, Vongfa said: “As the Nigerian Association of Small-Scale Industrialists, we are committed to playing a pivotal role in sensitizing MSMEs about this groundbreaking initiative. “We will organize workshops, seminars, and outreach programmes to educate entrepreneurs about the eligibility criteria, application process, and benefits of the fund in partnership with BOI across the 36 states.” He added: “We urge all eligible MSMEs to seize this opportunity and apply for the N75billion MSME Intervention Fund. “This is a golden chance to unlock your business’s full potential and contribute to the economic prosperity of our nation. “The N75billion MSME Intervention Fund is a game-changer for Nigerian MSMEs. “By working together with the government and financial institutions, we can create a thriving entrepreneurial ecosystem that will drive sustainable economic growth. “We extend our heartfelt thanks to the Federal Government and the Bank of Industry for their tireless efforts in making this initiative a reality.”  

Strike: SSANU, NASU Shut Down Universities Nationwide

  Universities across the country, especially those owned by the federal government, were on Monday shut down by non-academic staff under the aegis of the Senior Staff Association of Nigerian Universities, SSANU and the Non-academic Staff Union of Educational and Allied Institutions, NASU. The step followed the decision of the national leaders of the two unions that their members should start an indefinite industrial action as a result of the failure of the government to pay them four months of their salaries that were withheld following the 2022 strike by university workers. Situation in UNILAG The Branch Chairman of SSANU, the University of Lagos, UNILAG, Comrade Olugbenga Adenaiya, told Vanguard that the development was in line with the directive from their national leaders. “This morning, we held a congress where our members decided to follow the directive of the national leadership. It was unanimously agreed that the strike would be total and indefinite. We cannot be treated like slaves in our country. Remember that we went on strike early this year and it was suspended because the government promised to pay us the withheld salaries, but that has not been the case. “It is just a matter of continuing the strike we suspended the other time. All offices and essential services provided by SSANU and NASU members have been put on hold until further notice,” he said. The development came on the day the university was supposed to start academic activities for the 2024/2025 academic session. Probably in anticipation of this, the management of the university had earlier said lectures would run online for some weeks. Activities in limbo at FUTA Speaking in a telephone chat with Vanguard, the Chairman of SSANU, Federal University of Technology, Akure, FUTA, Ondo State, Comrade Felix Adubi, also said the non-teaching staff in the institution have heeded the call to go on strike. “We held our congress this morning and it was resolved that we go on strike as directed by our national body. The government cannot say we have not tried enough. We went on strike, just like the teaching staff also did and you have paid some of the withheld salaries of academic staff and what about us? “The saying is that what is sauce for the goose is also sauce for the gander. We won’t budge until our demands are met. The government is yet to address some issues raised in our earlier interactions with them, then this discriminatory stance of petting some people and treating others as inconsequential. We are not going to take it easy with them,” he said. UniAbuja SSANU, NASU in crucial meeting Members of SSANU and NASU at the University of Abuja were on duty and going about their normal activities on Monday despite the nationwide strike declared by the unions’ national bodies. Recall that the two bodies on Sunday called on members to begin an indefinite nationwide strike within campuses of public universities to demand the immediate release of their four months’ withheld salaries. In a statement co-signed by SSANU President Mohammed Ibrahim and NASU General Secretary Peters Adeyemi, the two unions said it was appalling that despite several ultimatums issued to the government, no positive result has come in. To this end, they directed their members in all public universities and inter-university centres throughout the country to “hold a joint congress in their respective campuses on Monday, October 28, 2024, and proceed on an indefinite, comprehensive and total strike action as no concession should be given in any guise”. But members of the unions were at work on Monday even as the executive members were seen holding congress, considered to be in adherence to the directive of the national bodies of the unions. It was learnt that the chapters would direct members to proceed on indefinite strike by the directives of national bodies later. As of the time of filing this report, no strike directives had been issued as members were at their duty posts. Contacted to comment on the development, the university’s Director of Public Relations, Dr. Habib Yakoob, confirmed that the strike had not been declared in the university by the two bodies. He said: ”Well, as I speak with you now, I am in my office and some people are here. “But you know today is when the University of Abuja branch of SSANU is going to have a congress to formally declare the strike. Now, whether they have eventually declared the strike in line with the directive of the national body or not is not what I can probably share with you because they are still having the meeting. But at the moment, staff are in their various offices working. I’m here with my staff but that is not out of place since they have not formally declared the strike. They are still having a meeting here.” Recall also that on September 17, 2023, the Joint Action Committee of SSANU and NASU handed the government a three-week ultimatum to pay the outstanding withheld salaries of their members or risk an industrial action. Prior to that both unions had staged several protests and warning strikes to protest their withheld salaries by the government. Recall that in 2022, the Academic Staff Union of Universities, SSANU, NASU and the National Association of Academic Technologists, NAAT, went on strike. ASUU for eight months, SSANU, NASU and NAAT for about five and a half months. However, during the tenure of the immediate past Minister of Education, Prof. Tahir Mamman, academic staff were paid four months of the withheld salaries, with the promise to also pay others. Mamman had then said that the government would only pay half of the salaries, but nothing has been paid to non-teaching staff up until now, despite presidential directive. Vanguard

Police Probe Abia Lawmaker Over Alleged Assault On Bolt Driver

  The Federal Capital Territory Police Command has said a member of the House of Representatives, Alex Ikwechegh is currently being interrogated at its Maitama Divisional Headquarters. Ikwechegh, who represents Aba North & South Federal Constituency, was alleged to have assaulted an e-hailing (Bolt) driver, Stephen Abuwatseya. According to a trending video, the lawmaker slapped the driver When he requested the delivery fee, querying if the driver knew who he was talking to. The lawmaker also threatened to make the driver “disappear” without facing any consequences. In a statement on Monday by the command spokesperson, Josephine Adeh, the police said investigation had commenced into the matter. She added that already, preliminary investigation revealed that Abuwatseya was delivering a package to Ikwegh when a dispute arose concerning the method of delivery. Adeh said, “Alexander Ikwegh, who represents the Aba North and South Federal Constituency in Abia State. The incident occurred on October 27, 2024, at a residence on Zamfara Crescent, Maitama, Abuja. “The FCT Police Command has received a report at the Maitama Divisional Headquarters regarding an incident involving a Bolt driver, Mr. Stephen Abuwatseya, and Hon. Alexander Ikwegh, who represents the Aba North and South Federal Constituency in Abia State. The incident occurred on October 27, 2024, at a residence on Zamfara Crescent, Maitama, Abuja. “Preliminary investigations indicate that Mr Abuwatseya was delivering a package to Hon. Ikwegh when a dispute arose concerning the method of delivery. During this altercation, Mr. Abuwatseya was reportedly physically assaulted. The FCT Police Command expresses grave concern over Hon. Ikwegh’s dismissive attitude toward the office of the Inspector General of Police following the incident. Adeh slammed the lawmaker for bringing the name of the Inspector General of Police, Kayode Egbetokun into disrepute by daring the driver to make calls through to him after slapping him. She said, “After allegedly slapping the victim, he reportedly remarked with contempt, “You can go ahead and call the Inspector General of Police,” demonstrating a troubling disregard for the authority of law enforcement. “Currently, the suspect is at the Maitama Police Station undergoing questioning.” Adeh added that CP Tunji Disu has ordered a thorough investigation into the matter. She said, “Commissioner of Police, FCT, CP Olatunji Disu, has mandated a thorough investigation into the matter. “The Command is committed to conducting an impartial investigation and ensuring justice in all cases. Upon completion of the investigation, appropriate legal action will be taken.”

Sack More Ministers, Ndume Tells Tinubu

  The lawmaker representing Borno South senatorial district, Ali Ndume, has called for the sacking of more slacking ministers from President Bola Tinubu’s cabinet. Ndume, in a statement on Saturday in Abuja, said some other ministers who were not performing should be sacked. The lawmaker applauded Tinubu’s recent cabinet restructuring, particularly the creation of the Ministry of Regional Development to oversee all regional commissions. He said, “We saw President Tinubu’s cabinet reshuffle last week, which was a masterstroke. “More needs to be done as some ministers are still ‘missing in action. “I’m particularly pleased about establishing the Ministry of Regional Development to oversee regional commissions. The President’s decision to streamline ministries also exemplifies his commitment to reducing the cost of governance.” He encouraged Tinubu to pursue his de-dollarisation policy further by positioning Nigeria to join BRICS (Brazil, Russia, India, China, and South Africa). De-dollarisation is the process by which countries explore alternative methods for international trade and financial transactions to reduce dependence on the U.S. dollar as the primary global reserve currency. Ndume noted that the move would benefit Nigerian businesses, especially those importing from China, by reducing reliance on the dollar and easing pressure on the naira. The senator also urged Tinubu to convene a national economic conference led by the Ministry of Budget and Economic Planning, the National Economic Adviser, and notable Nigerian economists to devise local solutions for the Federal Government. Similarly, a former presidential aspirant of the All Progressives Congress, Chief Charles Udeogaranya faulted Tinubu’s cabinet reshuffle, describing it as wrong changes that wouldn’t yield the desired results. Udeogaranya, in a statement in Abuja, said the cabinet reshuffle was carried out in the wrong places, noting that it would not yield any impact on the economy. “I am worried that President Tinubu’s economic team is not even brainstorming, needless to say. “I therefore charge Tinubu to overhaul, reshuffle, and inject new hands with good leadership skills into his economic team if he truly desires a better economy for Nigeria and Nigerians.”   Punch

We’ll Ensure Even Distribution Of Roads Rehabilitation,Oyo Govt. Assures Residents

  Residents of Oyo State have been assured of even distribution of rehabilitation, as the Oyo State Road Maintenance Agency, OYSROMA, continues to make efforts to rehabilitate roads in the State. The Chairman, OYSROMA, Mr. Raphael Ogunlade gave the assurance in Ibadan while inspecting some ongoing rehabilitation projects on Thursday. There have been numerous concerns from Oyo residents in other zones regarding the ongoing rehabilitation in the state, if it will be extended to all zones in Oyo state. Responding to the enquiries, Ogunlade said “Governor Seyi Makinde has assured the residents of Oyo state that this rehabilitation process is not only going to be done in Ibadan but will definitely extend to other zones till the whole Oyo state is covered.” Ogunlade, quoting the governor said, “he re-emphasised this at the Mobil – Akala road commissioning some months ago where he categorically mentioned that rehabilitation process like this will also be extended to Oyo, Ogbomosho and other zones, and he pleaded with Oyo state residents to exercise more patience as their convenience is him and his cabinets’ top priority.” The OYSROMA Chairman while inspecting a just concluded project, commended Governor Seyi Makinde for his diligent efforts towards giving Oyo state the best road network and for giving listening ears and support to OYSROMA in making these projects a success. The chairman also assured the people that the rehabilitation exercise involves all the bridges damaged by the recent heavy rainfall, adding that they will be reconstructed as directed by His Excellency, Governor Seyi Makinde “We are grateful to our Governor for his consistent effort in giving Oyo state the best in every sector and his commitment to this dream of making Oyo state roads the best in the country. We will also appreciate the residents of Oyo state for their continuous understanding and appreciate if they can be a bit more patient as every demand concerning Oyo state roads will be attended to as soon as possible”, he said.

Binance Executive Gambaryan Leaves Nigeria After Eight Months Of Detention.

  The world’s biggest cryptocurrency exchange made the disclosure in a statement shared with The PUNCH on Thursday. “Today, American citizen Tigran Gambaryan left Nigeria to return home to his family after eight months of unlawful detention. “Gambaryan was allowed to leave Kuje prison last night. His health has suffered significantly while in prison. He will now be able to finally receive the medical attention he desperately requires,” the exchange said. The development followed a ruling by the Federal High Court in Abuja, on Wednesday, which dismissed the money laundering charges brought against Gambaryan by the Economic and Financial Crimes Commission. During the court session, the EFCC explained that the case could not proceed at the last adjourned date due to Gambaryan’s declining health. A review by the Nigerian Correctional Service, supported by the Office of the National Security Adviser, indicated that Gambaryan’s condition had worsened to the extent that he could hardly walk without the aid of a wheelchair. The development followed a ruling by the Federal High Court in Abuja, on Wednesday, which dismissed the money laundering charges brought against Gambaryan by the Economic and Financial Crimes Commission. During the court session, the EFCC explained that the case could not proceed at the last adjourned date due to Gambaryan’s declining health. A review by the Nigerian Correctional Service, supported by the Office of the National Security Adviser, indicated that Gambaryan’s condition had worsened to the extent that he could hardly walk without the aid of a wheelchair. Binance prosecution continues as court frees executive on health grounds FG drops money laundering charges against Binance executive Gambaryan Court adjourns Binance executive Gambaryan trial till October 25 Reacting to the development, Gambaryan’s wife, Yuki, expressed her relief at his release. “It is a huge relief that this day has finally come. The past eight months have been a living nightmare. I wish it hadn’t taken this long for his release or that his health had not declined so much, but we can now focus on healing as a family. “I want to express my deepest gratitude to the US government for their efforts in securing his release. I also want to thank everyone who helped us throughout this ordeal. There were moments I feared this day would never come, but Tigran’s supporters gave me hope and strength. “The road ahead for Tigran’s recovery is going to be difficult, and I appreciate being given the time and space to focus on that. Our children cannot wait to see their dad again,” she stated. In February, Nigerian authorities detained Gambaryan and his colleague, Nadeem Anjarwalla, a 37-year-old British-Kenyan who serves as the regional manager for Africa at Binance. Both were charged with money laundering involving $35m, as initiated by the anti-graft agency. While Anjarwalla managed to escape custody on March 22, 2024, Gambaryan was arraigned in court on April 8.  

Ondo Assembly Approves N96 Billion Supplementary Budget For 2024

  Governor Lucky Aiyedatiwa recently forwarded to the lawmakers, a bill for a supplementary appropriation, increasing the initial N395billion 2024 budget to N487 billion. Aiyedatiwa had anchored his request for a supplementary budget on the effects of petrol subsidy removal and to enable implementation of N73, 000 minimum wage recently announced for the state’s workforce. The House of the Assembly in its discretion increased the governor’s proposal to N492billion, amounting to increase of N96billion. Speaking after submitting the report of the House’s Committee on Finance and Appropriation, Mr Oluwole Ogunmolasuyi, Owo 1/APC, said there was need for additional funds for target goals of the government. Ogunmolasuyi, the House Majority Leader and Chairman of the committee, said funds allocated to some government’s ministries, departments and agencies had been exhausted because of inflationary pressure on the signed 2024 budget. He added that the revised budget would give a clear expression for rapid development in the state.

Clark – We’ll Not Allow Scrapping Of Niger Delta Affairs Ministry.

  FORMER Federal Commissioner for Information and South-South Leader, Chief Edwin Clark has taken a swipe at President Bola Tinubu for scrapping the Ministry of Niger Delta Affairs, saying the people of the region will not allow that. Reacting to the scrapping of the Niger Delta Affairs yesterday in Abuja, the Elderstatesman who noted that there was no basis for the scrapping of the Ministry, accused the Federal government of plans to use the money from the South-South geo-political zones to develop the various development Commissions from the geo-political zones that have been established. According to the Leader of Pan Niger Delta Forum, PANDEF, President Tinubu has no good plans for the people of Niger, just as he said that late President Umaru Yar’Adua created the ministry for the development of the Zone, ensure permanent peace as well as the nip in the bud, cases of pipeline vandalisation. The Leader of the Southern and Middle-Belt Leaders Forum, SMBLF said, “The news came to me as a surprise There’s no basis for scrapping it now, Yar’Adua had a poised for creating it, to develop the Niger Delta Region and Nigeria, to bring peace to the region. “What I have noted so far is that there is no basis for scrapping it. Yar’Adua had a clear purpose to address the security situation in the Niger Delta, which led to the creation of the Ministry to focus on the development of that area. We have been working for some time now, managing our commissions. “It is not about that; it is the administrative structure created by the President. Unfortunately, it was misunderstood by Nigerians due to its complexity. “Why would you take over a Ministry without any development plans, funding, or concrete actions? Even the East-West Road, which was meant to be under the Ministry of Niger Delta Affairs, is not being addressed; it has been handed back to the Ministry of Works. “What I am saying is that the federal government lacks special arrangements for this region. When I saw that every region was establishing its development centres or Commissions, I anticipated these issues would arise. “Are there going to be multiple ministries within one region? One would expect that 30 or 40 people would have walked out to share the details. “I remember during the national conference in 2014, it was decided to increase the revenue allocation to the regions from 13% to 25%. Ultimately, it was settled at 18%, but we disagreed, which led to further discussions about a separate fund to support development post-Boko Haram. “There was also an agreement that 5% of the federation account would be allocated annually to support regions affected by the conflict. Unfortunately, this has not been implemented. “We also agreed that 5% of the revenue account should be dedicated to developing mineral resources and other industries to enhance local capacity. I was pleased with these discussions, but they haven’t translated into action, which is disturbing. “The government needs to consult with the leaders of the Niger Delta and the South-South region. What we ate saying is that these unresolved issues cannot be overlooked by the government.” Clark further said, “The government must explain why they decided to halt critical legislation. This raises concerns about how the benefits of regional developments are being managed. Many people feel disconnected from the process, and it seems resources are being diverted from local needs. “We need to ensure that regional development isn’t scrapped without a clear plan for its replacement. We will not allow it to be scrapped, the government wants to use South South money to develop other Development Commissions. “In a democratic system, the government should be created for the people, by the people, and for their benefit. It shouldn’t operate as a one-man show.” In an unexpected turn of events, President Bola Tinubu and the Federal Executive Council yesterday announced the scrapping of the Niger Delta Ministry and the Ministry of Sports Development. In a tweet by the Special Adviser on Information and Strategy to the President, Bayo Onanuga, on Wednesday, the decision was reached during the FEC meeting.  

Police To Train Recruits On Sex Education, Others

  Recruits of the Nigeria Police Force will now receive training on topics such as sex education, anti-corruption laws, harassment and gender-based crimes, the Discrimination Against Persons with Disabilities (Prohibition) Act, and election security. Other subjects include the core principles of public relations and public speaking, cartography, map reading, human relations, report writing, the Cybercrime Act 2015, combat skills, artificial intelligence, attitudinal and behavioural changes, and public conduct. These topics are part of the new training curriculum approved for all recruits by the Inspector-General of Police, Kayode Egbetokun. In a statement on Wednesday, the Force Spokesperson, Muyiwa Adejobi, said the new curriculum aims to enhance the professionalism and operational effectiveness of the service. He said, “The IGP, Kayode Adeolu Egbetokun, has approved the implementation of a revised training curriculum for all police recruits, a significant step towards enhancing the professionalism and operational effectiveness of the Nigeria Police Force. This new training curriculum, when fully implemented, will prepare the recruits for the challenges they will face while policing a complex society like Nigeria, and how to best perform their duties in line with international best practices. “The revised curriculum introduces a comprehensive range of training topics, which includes: The Police Act 2020, to familiarise trainees with the latest legal framework guiding police operations; The Nigeria Police Force Social Media Policy, to help trainees understand appropriate social media conduct and the role of social media in policing and communication; computer studies, gender mainstreaming and education, sex education, anti-corruption laws, training on harassment and gender-based crimes, the Discrimination Against Persons with Disabilities (Prohibition) Act, election security (Electoral Act 2022), the core principles of public relations and public speaking, cartography, map reading, human relations, report writing, the Cybercrime Act 2015, combat skills, artificial intelligence, attitudinal and behavioural changes, and public conduct.” Adejobi added that the implementation of this revised curriculum aligns with the IGP’s commitment to intellectual and capacity building within the Nigeria Police Force. “By addressing critical areas of training, the IGP aims to improve the recruits’ performance, professionalism, and community-oriented approach, preparing them to effectively discharge their duties within the bounds of the law. “The Nigeria Police Force is committed to continuous improvement and sensitization of its officers, ensuring that they are not only well-trained but also equipped with the necessary knowledge and skills to meet the high demands of policing, in collaboration with relevant stakeholders, to achieve the crime-free society we deserve,” he added. PUNCH

Tinubu Reshuffles Cabinet: Appoints Seven New Ministers,Scrapped Two Ministries

  President Bola Tinubu has appointed seven new ministers to his cabinet, according to a statement from the presidency following Wednesday’s Federal Executive Council meeting. The new appointees are: Bianca Odumegu-Ojukwu (Minister of State for Foreign Affairs) Nentawe Yilwatda (Minister of Humanitarian Affairs and Poverty Reduction) Maigari Dingyadi (Minister of Labour and Employment) Jumoke Oduwole (Minister of Industry) Idi Maiha (Minister for Livestock Development Ministry) Yusuf Ata (Minister of State, Housing and Urban Development) Suwaiba Ahmad (Minister of State for Education) During the ongoing Federal Executive Council meeting, Tinubu announced a cabinet reshuffle, abolishing the Ministry of Niger Delta and Ministry of Sports Development. A new Ministry of Regional Development will oversee regional development commissions, including Niger Delta, North West, South West and North East Development Commissions. The National Sports Commission takes over the Ministry of Sports’ responsibilities. Additionally, the Ministry of Tourism merges with the Ministry of Culture and Creative Economy.