News
JUST IN: Supreme Court Sacks Rivers Local Government Chairmen
The local government election conducted on the 5th of October 2024 by the Rivers State Independent Electoral Commission has been declared invalid by the Supreme Court.
In a judgment delivered by Justice Jamilu Tukur, the court declared the election invalid for grossly violating the Electoral Act.
Reading the judgement, Justice Tukur said the action of the Rivers State Independent Electoral Commission is declared void for lack of substantial compliance to the Electoral Act and guidelines as the electoral body continued voter registration even after announcing an election date.
The court held that processes leading to the conduct of a local government election were abridged in clear violation of Section 150 of the Electoral Act.
Supreme Court, in another judgment on Friday, barred the Central Bank of Nigeria (CBN), the Accountant General of the Federation and other agencies from releasing funds to the government of Rivers State until it purges itself of what the court describes as flagrant disobedience to court orders.
In a one hour, thirty-six-minute judgement delivered by Justice Emmanuel Akomaye, the five-man panel of the court unanimously dismissed the cross-appeal filed by Governor Siminalayi Fubara challenging the validity of the House of Assembly presided over by Martin Amaewhule as the Speaker.
In dismissing Governor Fubara’s appeal, the court ordered Martin Amaewhule to resume sitting immediately with other elected members of the Rivers State House of Assembly.
The court held that it is an aberration for Governor Fubara to have purportedly presented an appropriation bill before a four-man House of Assembly thereby denying twenty-eight constituencies of effective representation in vagrant violation of a court order mandating him (Fubara) to re-present the 2024 appropriation bill before a validly constituted Assembly led by Amaewhule.
READ ALSO: JUST IN: Supreme Court Dismisses Fubara’s Suit Against Pro-Wike 27 Rivers Lawmakers
The apex court further held that the actions of Governor Fubara over the alleged defection of twenty-eight members of the Rivers Assembly is an act of brigandage and dictatorship aimed at preventing the House from performing its legitimate functions under the speakership of Amaewhule.
The court also held that the demolition of the Rivers State House of Assembly Complex by Governor Fubara is an act of indiscipline bordering on the excessive use of executive might to frustrate the sitting of the Assembly led by Amaewhule.
News
Transfer: Premier League Clubs Scramble For Dele-Bashiru
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.
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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
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.
READ ALSO:Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies 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
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.
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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).
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“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.
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