News

N10.4 Billion Judgement debt: Senate indicts Malami-led Justice Ministry

Published

3 years ago

May 15, 2023

The office of the Attorney-General and Minister of Justice, Abubakar Malami has been indicted in the disbursement of N10.4 billion judgement debt settlement to beneficiaries.

This is as his Ministry could not succinctly render the account before the Senate Committee on Public Accounts.

The indictment followed consideration of the 2017 and 2018 report of the Senate Public Accounts Committee (SPAC) chaired by Senator Mathew Uhroghide.

Following the development, the Committee has ordered the Ministry of Justice to stop further disbursement of the Judgement debt.

It also ordered that the Committee on settlement in the Justice Ministry be reconstituted within 30 days.

In another development, the Senate also ordered University of Ilorin, University of Abuja, University of Uyo, Federal University, Birim Kebbi, Federal University, Lafia, Federal University, Wukari, Modibo Adams University of Technology, Yola and Federal University of Petroleum, Effurun to refund N4.7 billion allegedly mismanaged.

The Auditor General’s reports for 2016 and 2017 indicted the seven universities, and was upheld by the Senate Public Accounts Committee. It was also considered and approved by the Senate.

The breakdown showed that University of Abuja mismanaged total of N1.3 billion in 2017, Federal University of Petroleum mismanaged N1.1 billion, University of Ilorin mismanaged N745 million, Federal University of Technology Akure (FUTA), N467 million, Federal University, Wukari, N43 million, Federal University Dutsinma, Katsina – N141 million, Federal University, Lafia – N32 million.

The indictment has been considered and sustained by the Senate and will be forwarded to the Secretary to Government of the Federation for further action.

On the Judgement debt, the Auditor-General, Anthony Ayine’s report stated that the committee saddled with the responsibility of managing the disbursement of judgement debt was dissolved in 2013.

It said that as at the time when the N10.4 billion was disbursed by the Ministry of Justice in 2017, the Committee had yet to be reconstituted.

The report stated that lack of control, as witnessed in the disbursement of the judgement debt, could lead to loss of public funds.

Ayine, in the report, recommended that the Solicitor-General of the Federation and permanent secretary in the Ministry of Justice should immediately constitute the committee as required by law.

The report reads in part, “Examination of the budget of the Federal Ministry of Justice revealed that the sum of N460.95m was appropriated for payment of judgment debts for 2016 and N10bn appropriated for 2017, totalling N10.46bn.

“Further examination revealed that the committee saddled with the responsibility of managing the fund was dissolved after the 2013 financial year and is yet to be reconstituted after the 2016 and 2017 appropriations.

“However, the ministry has been disbursing this sum without a committee in place. Lack of control could lead to loss of public funds.”

Judgement debt refers to money that a court of law orders the losing party to pay to the winning party.

The parties in the case may either be an individual, a family, a company, an institution or a government.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

3 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.