News
BREAKING: Bayelsa Loses Oil Well To Rivers As Court Orders Map Error Correction
The Federal High Court in Abuja on Monday ordered the transfer of Soku oil field from Bayelsa State to its rightful owner , Rivers State .
Delivering judgment in a suit instituted by Rivers State , Justice Inyang Ekwo, ordered the National Boundary Commission to rectify the error in its 11 th edition of Administrative Map , which designated San Bartholomew River as the boundary between the two states , instead of River Santa Barbara .
The error was said to have surfaced in the 11 th edition of Administrative Map produced by the NBC in 2002 .
The NBC was said to have in its letter dated July 3 , 2002 in response to Rivers State Government’ s protest admitted its mistake and promised to rectify it in the 12 th edition of the administrative map .
Failure of the NBC to rectify the mistake as promised made the Rivers State Government to file a suit against the Attorney- General of Bayelsa State and the Attorney- General of the Federation before the Supreme Court in 2009 .
The Supreme Court in 2012 ruled in favour of Rivers State and ordered the rectification of the error
By August 2019 , when the mistake had yet to be corrected, Rivers State Government instituted a suit before the Federal High Court in Abuja solely against the NBC, seeking an order of mandamus compelling it to correct its error.
Granting the plaintiff ’ s prayers in his judgment delivered on Monday , Justice Ekwo ordered the commission to immediately produce the 12 th edition of the Administrative Map restoring River Santa Barbara as the inter – state boundary between Rivers and Bayelsa States , as it was in 1996 when Bayelsa State was carved from Rivers State.
He added that the commission was duty – bound to obey the July 10 , 2012 judgment of the Supreme Court which had affirmed River Santa Barbara as the boundary between the states , by immediately correcting its self -admitted error of designating River San Bartholomew as the boundary .
He also ordered that the judgment be served on the relevant statutory bodies , especially , the Revenue Mobilisation Allocation and Fiscal Commission and the office of the Accountant- General of the Federation for them to immediate recompute the amount of oil revenue accruable to it with the transfer of the Soku oil field to it.
More details later …
(PUNCH)
News
Transfer: Premier League Clubs Scramble For Dele-Bashiru
Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.
Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.
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La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.
The 24-year-old has two years left on his contract with the Serie A club.
The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.
He has been a regular feature for Lazio this season.
News
Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses
The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.
DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.
A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.
READ ALSO:Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria
“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.
“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.
“This contradiction will no longer be tolerated,” the statement said.
News
N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs
First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.
The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.
At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.
Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.
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Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.
“Women-led enterprises are critical to economic activity, yet they face structural barriers.
This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”
“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).
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“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”
Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.
Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.
Applications for the zero-interest loan are now open.Apply now.
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