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BREAKING: FG Begins Disbursement Of N200bn Palliative Loans

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The Ministry of Industry, Trade and Investment says it has begun disbursement of the Presidential Conditional Grant Scheme to verified applicants after an exhaustive selection process.

The government, through the Bank of Industry, had said it would be disbursing three categories of funding totalling N200bn to support manufacturers and businesses across the country.

In a progress report posted on the trade minister’s official X (formerly Twitter) handle on Tuesday, Doris Aniete stated that an unspecified number of beneficiaries have received their grants, adding that by Friday, April 19, another significant disbursement will be made to a substantial number of verified applicants.

READ ALSO: ‘We Need Solution To Killings’ – Sen Plang Rubbishes ‘Palliatives’ For Plateau Victims

She said, “We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced. Some beneficiaries have already received their grants, marking the beginning of our phased disbursement strategy.”

“By Friday, 19th April 2024, a significant disbursement will be made to a substantial number of verified applicants. It is essential to understand that disbursements are ongoing, and not all applicants will receive their grants on this initial date. However, rest assured that all verified applicants will eventually receive their grants in subsequent phases.”

This is coming more than eight months after President Bola Tinubu announced the grant for manufacturers and small businesses and two weeks after applicants were directed to submit their National Identification Numbers as part of the requirements to obtain the grant earmarked to cushion the effect that recent economic reforms have had on businesses in the country.

In the address, the president said he was determined to strengthen the manufacturing sector, increase its capacity to expand, and create good-paying jobs.

READ ALSO: US-based Nigerian Bodybuilder Dies 18 Days After Being Shot By Wife

“We are going to spend N75bn between July 2023 and March 2024. Our objective is to fund 75 enterprises with great potential to kick-start sustainable economic growth, accelerate structural transformation, and improve productivity.

‘’Each of the 75 manufacturing enterprises will be able to access N1bn credit at 9 per cent per annum with a maximum of 60 months repayment for long-term loans and 12 months for working capital,” Tinubu said.

The programme, riddled with multiple delays and a complex registration process, had received several criticisms from prospective beneficiaries.

The President of the Association of Small Business Owners, Femi Egbesola, had decried the slow pace of data collation by the supervising agencies, alleging that genuine businesses were being deliberately discouraged from accessing the loans.

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[JUST IN] Akpata: UNIBEN Suspends Students’ Union

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By Joseph Ebi Kanjo

The management of the University of Benin, UNIBEN, has suspended Students’ Union of the institution.

INFO DAILY reports that the suspension of the Students’ Union may not be unconnected with the incident that happened at the University’s Senior
Staff Club on Friday 12h April, 2024.

In the said incident, students of the university led by the Students’ Union president were said to have invaded an interactive session by staff of the university with the Edo State governorship candidate of Labour Party, LP, Olumide Akpata and in the process demanded a halt of the event, claiming that they (Students’ Union) were not informed of the event.

READ ALSO: Students Attack LP Guber Candidate At UNIBEN, Akpata Fingers Govt Official

The students were said to have behaved unruly at the event and in the process rough handled many of the stuff including a member of the Academic Staff of the Universities (ASUU), who was reportedly beaten merciless and eventually landed in the hospital.

Following the incident, management of the university was said to have set a panel to investigate the incident with a view to unraveling the truth.

Consequently, in a statement signed by A.A. Bobola, Registrar of the university and made available to newsman in Benin on Monday April 29, 2024, said, “after due consideration of the Report by the Management, the Vice Chancellor has approved the suspension of the University’s Students Union.”

READ ALSO: UNIBEN ASUU Threatens To Boycott Resumption Date Over Violent Attack On Member

The statement partly reads: “The suspension which is indefinite, takes immediate effect, that is, from today, Monday 29h April, 2024.

“Accordingly, all Officers of the Students’ Union are to handover all properties of the Union in their possession to the Dean, Students’ Affairs not later 4.00pm on Tuesday 30 April, 2024.

“In the interim, a Caretaker Committee composed of representatives of Faculties, Schools and Institutes has been approved to coordinate students’ activities during the period of
suspension.

“The above directive of the Vice Chancellor is hereby communicated for the attention of
the University Community and compliance of the erstwhile Union Officers as appropriate.”

 

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Ooni: Suspended Benin Palace Functionaries Banished

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Photo: file copy

Six Oba of Benin palace functionaries have been ostracized.

The palace functionaries were said to have engaged themselves in a sacrilegious show of shame and falsehood against the Benin Custom and tradition.

The banished palace functionaries are Johnbull Igbinosun, Iduhonre (Ihogbe), S.E. Aigbiremwen, Efesoghoba (Ogbelaka) and two other Ogbelaka functionaries — Ogbeide Osagie and Osamudiame.

READ ALSO: Oba Of Benin Suspends Six Officials For Posing As Palace Emissaries To Ooni Of Ife

They had falsely claimed to be emissaries of the Omo N’ Oba N’ Edo Uku Akpolokpolo, His Royal Majesty, Ewuare Il, Oba of Benin in the palace of the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi; (Ọjájá II), where they rendered a “disjointed account of the link between the Benin Royal Dynasty and the Ooni-ship of Ife at Ooni of Ife’s Palace in Osun State recently.”

A statement signed by Mr. Osaigbovo Iguobaro, Chief Press Secretary to the Oba of Benin on Monday April 29, 2024, said they admitted before a committee led by Chief Ekhoerovbiye Oviasogie, the Uwangue of Benin that they erred against Benin Customs.

READ ALSO: Tragedy In Ekiti As Man Stabs Wife To Death Over Infidelity

The Uwangue of Benin, who described their action as a deliberate attempt to rubbish Benin Kingdom, pronounced the suspension of the Palace functionaries.

Consequently, they were also stripped off of Benin Royal beads, recognition as palace functionaries and their traditional titles, which were handed over to the ancestors.

The suspended palace functionaries were also barred from parading themselves as Benin palace functionaries and stopped from participating in any traditional rites in Benin.

They were thereafter escorted out of the Palace by Chiefs, including Ewaise (traditional seers) with occipital horns invoked ancestral spirits to bear witness.

 

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2024 UTME: 77% Of 1.8M Candidates Score Less Than 200

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Seventy-seven per cent of the 1,842,464 candidates whose 2024 Unified Tertiary Matriculation Examination results were released by the Joint Admissions and Matriculation Board on Monday scored less than 200.

Giving a breakdown of the results of the 1,842,464 candidates released, the Board’s Registrar, Prof. Ishaq Oloyede noted that, “8,401 candidates scored 300 and above; 77,070 scored 250 and above; 439,974 scored 200 and above while 1,402,490 scored below 200.”

The Board is expected to announce the minimum benchmark for the 2024/2025 academic session admissions during its policy meeting to be held at a later date.

READ ALSO: 2024 UTME: JAMB Withholds Results Of 64,624 Candidates

Over the years the benchmark for admissions to universities has hovered around 180 to 200.

Oloyede also gave the new format for acceptance of admissions.

He said, “ Either a candidate sends ACCEPT/REJECT on his dedicated phone line to 55019/66019, or a candidate accepts or rejects any admission offer (programme change inclusive) with his/her fingerprint (biometric) at an accredited CBT centre or any JAMB Office.

“The above newly-crafted methods of accepting or rejecting admissions, are aimed at protecting the details of the candidates and upholding the sanctity of the admission process.

“With this new method, the candidates’ registered phone (SIM) is now more important than ever as it is now required to perform even more sensitive operations. We are in discussions with NCC on dedicated student’s SIM with restricted services.”

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