News

Group, Benin-Owena River Basin Trade Words Over Corruption, Alleged Misappropriation Of Funds

Published

4 years ago

May 25, 2022

A group known as Southern Youth Assembly of Nigeria (SYAN) and the management of the Benin-Owena River Basin Development Authority (BORDA) have disagreed on alleged financial misappropriation at the Authority.

A protest letter signed by the chairman, Board of Trustees (BoT) of SYAN, Armstrong Ovie-Afabor, accused the management of the Authority of mismanagement of funds, arbitrary award of contracts, payment for unauthorized foreign trips, extra budgetary expenditure among several other allegations.

In the letter to the Minister of Water Resources, Chief of Staff to the President, Office of the Head of Service of the Federation, Ovie-Afabor said there have also been appointments into BORDA wrongly and payments for several contracts allegedly not executed.

The petition said several amounts of money running into millions of naira were vired from irrigation projects to other areas without recourse to due processes and there called on the supervising ministry to initiate an investigation into the activities of the BORDA.

The group therefore appealed to the federal government to investigate activities in the place.

But the Managing Director, BORDA , Engr. Saliu Ahmed denied the allegations, saying that the Authority has been run within existing regulations.

He added that the allegations were frivolous and deliberately being orchestrated to bring down the Authority under him.

Ahmed said “They first recruited a different group for this and now this new group. The issues were addressed before when they petitioned the Minister and there is nothing like staff preferential treatment.”

On abuse of due process in contract award, he said: “That is not also true, it is all misrepresentation of facts. There are processes of awarding contracts, I have my threshold as the Chief executive, beyond my threshold, there is a Parastatal’s tender’s board where contracts are awarded and in some rare cases when it was beyond the threshold of the tenders board, we had to go to the ministerial tender’s board, there is absolutely no award of contract that have not gone through these processes and on two or three instances we had even gone to the Federal Executive Council (FEC).”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 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

5 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

8 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.