News

Character, Integrity Crucial To Fight Against Corruption In Public Sector, Says Financial Expert

Published

4 years ago

October 22, 2022

Editor

Public finance expert and Special Adviser to Enugu State governor on Financial Matters, Prof Paschal Okolie, has called for a reorientation in the character and integrity of public servants and Nigerians with a view to fighting corruption in the nation’s public service.

Prof. Okolie made the call in Akwa, Anambra State capital, at a two-day
Audit Reporting Training workshop for journalists, organised by FrontFoot Media Initiative as part part of Collaborative Media Engagement for Development Inclusivity and Accountability Project under the auspices of the Wole Soyinka Centre for Investigative Journalism (WSCIJ) and the sponsorship of the MacArthur Foundation.

According to the financial expert, corruption has remained a bane despite many changes in the law and IT-driven applications for financial management in the country since 2010.

Okolie compared Nigeria to the Great Wall of China that enemies breached because of human failure in character and integrity.

He also observed that many states were yet to implement policies such as the International Public Sector Accounting Standards (IPSAS) and the Open Government Partnership Agenda aimed at promoting accountability in public financial management.

Experts say only 15 of Nigeria’s 36 states and the FCT signed up for the Open Government Partnership programme.

Okolie stated, “Evidence abounds that unless the issues of character and integrity are addressed, Nigeria will continue to be challenged by corruption
arising from deficient application of the principles and practice of auditing and prudent, transparent and accountable financial management in the
Nigerian public sector”.

He commended efforts by the federal and state governments to tackle the legal and technical challenges through enforcing financial and operational
autonomy for the office of the Auditor-General through the amendment of the Audit Law establishing the Audit Service Commission that will operate
like the Civil Service Commission and approval of ICT-driven initiatives of
IPSAS, TSA and SFTAS.

INFO DAILY reports that challenges of public sector financial management in Nigeria include poor institutional governance, manpower development issues, weak oversight, corruption, and character and integrity, according to Okolie.

On his part, Sonala Olumhense, who spoke from the USA emphasized on the Imperative of Audit Reporting for Nigerian Journalism.

Also speaking at the workshop were FrontFoot Media Initiative chairman Sully Abu, managing director Emeka Izeze, as well as training coordinator Chido Nwakanma.

Forty-two journalists participated in the workshop and they resolved to
critically examine state audit reports and tell stories from their contents, as well as report where states contravene the law by not submitting and publishing audit reports.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

2 hours ago

May 6, 2026

Editor

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.

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

Published

3 hours ago

May 6, 2026

Editor

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.

“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

Published

5 hours ago

May 6, 2026

Editor

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.

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).

“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.