News

Microfinance Firm Disappears With Customers’ Funds, Victims Lament Losses

Published

3 years ago

July 5, 2022

Editor

There was an uproar at the Mowe Police Station, Ogun State, last Thursday, when some residents, who were allegedly defrauded by a microfinance company stormed the station.

PUNCH Metro learnt that the company promised to give its customers loans after deposits, but absconded after receiving payments from many people in the area.

When our reporter visited the police station, some of the victims were seen lamenting at the gate.

A victim, Funmilayo Adebayo, said, “About three of us jointly contributed N50,000 which we paid to them because we wanted a loan of N150,000. I suffered while I was pregnant to get the money that I gave them. Now that I have put to bed and I need it, the money has been lost.”

Another victim, who identified herself as Nike, said she needed a loan of N200,000 and paid N24,000 to the company.

“Mine is not even much compared to what some other people gave them. There was a woman that was crying at Lotto yesterday that she gave them N200,000 for a loan of N1m,” she added.

Another resident, Morenike Ajayi, who said she applied for a loan of N200,000, explained that the money was to boost her catering business.

She said, “All my hope was on this money because I withdrew the remaining money in my account, borrowed more money from one of my friends with the hope that once I get the loan, I will pay her back and put the remaining in my business. Now, these scammers have ruined all my plans. Where will I start from?”

In the company’s loan slip seen by The PUNCH, it was stated that for a client to access a loan of N50,000, a deposit of N5,000 will be paid; N12,000 for N100,000; N18,000 for N150,000 and N24,000 for N200,000.

The Ogun State Police Public Relations Officer, Abimbola Oyeyemi, said investigation was ongoing into the matter.

News

BREAKING: Rev Uma Ukpai Is Dead

Published

11 minutes ago

October 13, 2025

Editor

Rev. Uma Ukpai, an international evangelist who is the founder and president of Uma Ukpai Evangelistic Association, is dead.

Rev. Uma died at the age of 80.

News

ASUU Declares Two-week Strike, Orders Members To Down Tools On Monday

Published

13 hours ago

October 12, 2025

Editor

The Academic Staff Union of Universities (ASUU) has announced the commencement of a two-week ‘total strike’ and ordered its members to withdraw their services across the country, effective 12:01 a.m. on Monday.

ASUU President, Prof. Christopher Piwuna, disclosed this at a press conference in Abuja on Sunday.

The development comes after the two-week ultimatum issued to the Federal Government to address their long-standing demands expired.

Prof. Piwuna expressed dismay that nothing significant had happened since it issued the two-week ultimatum. “Government has been asking for time with nothing concrete on the ground to resolve it,” he said.

According to him, the decision to embark on the total strike was reached after several rounds of meetings with government representatives ended without any tangible commitment.

He noted that the union had exhausted all avenues for dialogue and patience, emphasising that the strike action was the last resort to compel the government to fulfil its promises.

He further explained that the union had consistently shown restraint in order not to disrupt the academic calendar, but the government’s insensitivity had left them with no alternative.

“Consequently, all branches of ASUU are hereby directed to withdraw their services with effect from midnight (12:01 a.m.) on Monday, 13 October 2025. The warning strike shall be total and comprehensive as agreed at the last NEC meeting,” he said.

He also called on well-meaning Nigerians, civil society organisations, and the media to prevail on the Federal Government to address the lingering issues once and for all. The union warned that unless concrete steps are taken within the two-week period, it will not hesitate to extend the strike indefinitely. “This struggle is not just for university lecturers; it is for the soul of public education in Nigeria,” Prof. Piwuna declared.

The seven-point demands include: re-negotiation of the 2009 ASUU-FGN agreement; sustainable funding of universities; revitalisation of universities; victimisation of ASUU members in Lagos State University (LASU), KSU (now Prince Abubakar Audu University), and Federal University of Technology, Owerri (FUTO).

Others are outstanding 25–35 per cent salary arrears; promotion arrears for over four years; as well as third-party deductions.

News

Nigerian Engineers applaud Gov. Mohammed’s $5bn Investment Deals

Published

14 hours ago

October 12, 2025

Editor

The Nigerian Society of Engineers (NSE), Bauchi state chapter has commended Gov. Bala Mohammed for organising the maiden international investment summit that recorded a 5 billion Dollars investment deal in the state.

It could be recalled that Prof. Murtala Sagagi, Chairman of the Summit Planning Committee, disclosed at the end of the summit that it recorded over 5 billion Dollars investment deals and 47 Memoranda of Understanding (MoUs) signed.

He said that the agreements signed covered agriculture, solid minerals, power, infrastructure, and ICT sectors, adding that one of the MoUs translated into a concrete investment deal worth 1 billion dollars, which would become operational before the end of 2025.

Speaking with newsmen on Sunday, Engr. Abdulkarim Hassan, Chairman, NSE, Bauchi state chapter, congratulated the state government for organizing and the successful completion of the economic and investment summit.

According to him, the summit has also showcased Nigerian engineers’ professional prowess to the world as the newly constructed International Conference Centre (ICC) where the summit was held was built by a Nigerian construction company.

He expressed confidence in the governor for engaging Nigerian engineers to do the job, saying “the feeling is mutual because if he didn’t have confidence in us, he would have engaged foreign engineers to do the work.

“We extend our profound
congratulations to the governor on the successful completion of the Bauchi
Investment Summit.

“This summit was not merely an event, it was a clear demonstration of his visionary leadership and unwavering commitment to transforming Bauchi State into a prime destination for investment.

“The quality of delegates, the insightful discussions, and the tangible commitments secured during the summit have set a new benchmark for economic engagement in the North-East and other
regions in Nigeria.

“As professional engineers, we were particularly encouraged by the strong emphasis placed on infrastructure, industrialisation, and technological development, which are key pillars that will
drive sustainable growth,” he said.

Hassan added that the success of the summit has laid a robust foundation for attracting the capital necessary to execute the ambitious infrastructural projects required for the state’s development.

He expressed the readiness of the NSE, Bauchi branch to partner with the state government by offering its professional expertise and technical support to ensure that the outcomes and MoUs from the summit translated into sustainable reality for the people of Bauchi State.