News

Crisis Looms In Ebonyi Assembly Over Umahi’s N33bn Loan Request

Published

3 years ago

April 15, 2023

Editor

There is a brewing face-off in the Ebonyi House of Assembly not unconnected to a recent alleged demand by Governor David Umahi for the approval of a fresh N33 billion loan by the Assembly.

It was learnt that Umahi wrote to the House demanding an approval to borrow the money to enable him complete his projects before handing over on May 29, 2023.

This development, The PUNCH gathered, has generated mixed reactions among residents of the state, wondering why the governor was requesting for such a whopping sum in a state already indebted to local and international financial institutions to the tune of N75 billion.

Others are querying the relevance of the loan for project completion, even when Umahi has barely five weeks to leave office.

Meanwhile, the House of Assembly has remained adamant in its refusal to approve the N33 billion request from Governor Umahi despite persistent pressures from him and his foot soldiers.

A source said, “The House has approved the release of N6 billion for the settlement of accumulated gratuities and pensions owed to civil servants in the state since 2015 when Umahi came to office.”

The crisis has further deepened with a call from Assembly members to impeach the Speaker, Francis Ogbonna Nwifuru, if he refuses to resign.

The PUNCH reports that Nwifuru is also the governor-elect in Ebonyi State and has been the Speaker of the House since 2015.

A document, titled, “EBONYI SPEAKER UNDER FIRE TO RESIGN OR RISK IMPEACHMENT,” which was signed by the Public Relations Officer of the Ebonyi State House of Assembly, Mr. Egede Sylvester, obtained by The PUNCH, said the members demanded immediate resignation of Hon. Nwifuru and his deputy, Kingsley Ikoro, or they would face impeachment.

The call came barely three weeks after Nwifuru was declared winner by the Independent National Electoral Commission as governor-elect of the state.

The document quoted the Majority Leader of the House, Hon. Victor Chukwu, as having spoken on behalf of his colleagues, saying, “The members of the House are no longer satisfied with the leadership of the House under the administration of Chief Francis Nwifuru and urge him to resign in his honour and for the betterment of the State Assembly and the state at large.”

It added, “His resignation would afford him the opportunity to be fully involved in the affairs of his inauguration as the governor.

“On his part, the Speaker, Nwifuru, said he had duly listened to their plea and thanked them for revealing their grievances, urging them to trade with caution for the peace and development of the state.”

Reacting, the Speaker and Governor-elect, Nwifuru, said the only request from the executive arm of government was on remittances from the excess crude account.

“The request was for 60 per cent of the funds from the Excess Crude Account to be used to offset the state’s liabilities to the Federal Government. We duly approved the request and you did not hear anything about loans,” he said.

He also debunked the report that the Assembly members threatened him with impeachment if he did not resign to prepare for his swearing-in as governor on May 29.

“I did not hear such thing and do not know who told you about it. You should know that such report is fake. You should ask the Leader of the House and its Information Officer whom you claim told you such.”

Also, responding to the loan request, the Special Assistant to Governor David Umahi on Media and Strategy, Mr Chooks Okoh, said there was no official statement as regarding the development but that whatever the governor did had always been for the interest and development of the state.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

46 minutes 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

1 hour 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

3 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.