News

Edo Govt Commences Disbursement Of N1.3bn To Council Of Traditional Rulers

Published

3 years ago

August 22, 2023

Editor

Edo State Government has announced that the sum of N1.3bn had been released to the state’s Council of Traditional Rulers as arrears of the five per cent of the local government allocations due to the traditional rulers.

Addressing journalist on Tuesday morning in Benin during a press conference, Commissioner for Communication and Orientation, Chris Nehikhare, said the subvention which was warehoused by the government when there was crisis within the council, had already been disbursed to the three Senatorial Districts of the state.

Nehikhare, who was flanked by the state Commissioner for Local Government and Chieftaincy Affairs, Mr. Monday Osaigbovo, and Special Adviser to Governor Godwin Obaseki on Media Projects, Mr. Crusoe Osagie, said of the N1.3 billion, the Council of Traditional Rulers in the seven local governments in Edo South Senatorial District got the sum of N639.2 million, shared, with the Benin Traditional Council (BTC) getting N319.6 million, while the other traditional rulers in the remaining local governments have N255.7 million.

He added that that while traditional rulers in the six local government areas of Edo North Senatorial District got the sum of N377.6 million, those from the five local governments in Edo Central Senatorial District got N299.8 million.

According to Nehikhare, prior to the coming of Governor Godwin Obaseki’s administration, what was being released to the traditional council as its statutory five percent allocation, was the amount due from the basic allocation to the 18 local government areas in the state, excluding other components such as the Value Added Tax (VAT) and the Excess Crude earnings.

He further explained that the arrears of the VAT and excess crude earnings from July 2022, and the amount due which the council agreed that government should warehouse when a misunderstanding arose in April 2023, were added together to arrive at the N1.3 billion being shared to the traditional rulers.

Nehikhare expressed optimism that the new arrangement would enhance a more cohesive administration at that level of government.

Stressing that the state government was happy to note that the various 18 LGAs in the state had commenced the disbursement of the funds, Nehikhare disclosed that the state government would explore the possibilities of giving additional responsibilities to traditional rulers in the state especially in the security of their domains.

He noted that the security of lives and property remained the priority of the government.

Also responding to question on why the state government wharehoused the funds, SA to the governor on Media Projects, Osagie said there was no time the government withhold the allocation to the traditional rulers.

He stressed that what the government warehoused for the council arose as a result of the misunderstanding among the traditional rulers.

He added that with the resolution of the misunderstanding, all the earnings due to the traditional rulers had been disbursed to them accordingly.

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.