News

Investigate Alleged Plan By Obaseki To Sell, Convert N100bn Okomu, Presco Bonds, Shareholders Urge Okpebholo

Published

1 year ago

January 19, 2025

Editor

A socio-economic group, Onitsha Zone Shareholders’ Association has urged Governor Monday Okpebholo of Edo State to initiate a thorough investigation into an alleged plan by ex-governor Godwin Obaseki to to sell N100 billion bond with the aim of converting them to his personal shares in the future.

The group, led by its chairman, Bishop Goodluck Akpore, made the call during a protest visit to Governor Monday Okpebholo in government house in Benin City.

During the visit, Bishop Akpore expressed dissatisfaction with the alleged plan, citing its adverse economic impact on the state and its communities.

He presented a report highlighting issues involving Okomu Oil Palm and Presco PLC, just as he accused Obaseki of using his Afrinvest Company to plan a ₦100 billion bond transaction involving Presco PLC, and alleged a potential conversion of the bond to shares for personal gains.

Bishop Akpore alleged that the oil palm companies colluded with Obaseki’s administration to deprive the state of economic benefits.

He criticized the refusal of Presco PLC to compensate host communities for the 36,388 hectares of land acquired for their operations.

He also highlighted the failure of the Obaseki administration to enforce tax collection from the companies, despite their significant profits and lack of Corporate Social Responsibility (CSR) projects.

“A trailer load of palm oil leaving Edo State for Lagos is valued at around ₦80 million,” Akpore stated.

“Yet, these companies neither remit taxes nor compensate for the lands they have used freely.”

In his response, Okpebholo pledged to launch a comprehensive investigation into the allegations, and emphasized his administration’s commitment to protect the interests of Edo people.

He assured the group that all irregularities would be addressed, and those found culpable would face appropriate sanctions.

“We will seek a peaceful resolution and invite Presco and Okomu Oil Palm to a meeting to discuss these issues,” Okpebholo said.

“While we recognize their contributions to the State’s economy, they must ensure fair contributions and uphold their responsibilities to the host communities.”

The Governor also referenced recent protests over the activities of the oil palm companies and stressed the importance of dialogue in achieving lasting solutions.

The Onitsha Zone Shareholders’ Association, is responsible for protecting shareholder and community interests across Edo, Delta, and other states in the zone, and plays a critical role in monitoring companies’ activities.

The group emphasized the need for accountability from Presco and Okomu Oil Palm PLC to assess their tax contributions and CSR impact accurately.

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.