News

Court’s Directive To Halt Federal Allocations To Rivers Unconstitutional – Ijaw National Congress

Published

2 years ago

November 3, 2024

The President of the Ijaw National Congress (INC), Professor Benjamin Okaba, has described as unconstitutional the recent judgment by an Abuja-based federal high court directing the Central Bank of Nigeria (CBN) to cease federal allocations to Rivers State.

Professor Okaba, who described the judgment as a result of “judicial rascality” and an abuse of fundamental principles of federalism, voiced his concerns during the 10th Anniversary Celebration of Ijaw Women Connect (IWC) in Warri, Delta State.

He called on President Bola Tinubu’s administration to exercise caution in addressing the ongoing crisis in Rivers State, warning that if the alleged injustice, oppression, and abuse of power against the state’s governor continued unchecked, the consequences could be severe.

His words: “Mr. Chairman of this occasion, permit me again to use this auspicious occasion to advise the Tinubu-led federal Government to be very cautious in managing the crisis in Rivers State. We feel obliged to warn again and again that if the injustice, oppression and abuse of power perpetrated against the Governor of Rivers State continues unchecked, the consequences might be very grievous.

“The recent Abuja based federal high court judgment directing the Central Bank of Nigeria (CBN) to stop Federal allocations to the State can be best described as the product of judicious rascality. It is equally unconstitutional and a flagrant abuse of basic principles of federalism. When you attempt to deny a state (not just any State but Rivers State with her enormity in all ramifications). We maybe will fast forwarding the declaration of the Late Governor of Bayelsa State Chief DSP Alamieyeseigha that ‘When you deny the people their inalienable right to their God given wealth you should be getting ready to beg to obtain 1% of the same resources/allocation.’

“This judgment is in its entirety is condemnable and provocative. However, the ljaw National Congress beckons on all members of Congress and lovers of peace and justice to remain calm and steadfast in their prayers and support for Governor Siminilayi Fubara and the ljaw Nation. This madness of a judgment will not stand the test of time because 20 years ago, the Supreme Court of this same country declined an application to withhold allocations to Lagos State.”

Professor Okaba also urged Ijaw Women Connect to join the INC in appealing to the federal government to address the pressing issues facing the Ijaw people, including pervasive hardship, environmental degradation, economic exploitation, and socio-political marginalisation.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour 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

2 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

4 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.