News

N544m Contract Fraud Charges Against Ex-SGF, Babachir Lawal Unnecessary, EFCC Witness Admits In Court

Published

4 years ago

March 28, 2022

Editor

A witness of the Economic and Financial Crimes Commission (EFCC) in the ongoing trial of former Secretary to the Government of the Federation (SGF), Dr Babachir Lawal, has admitted that the alleged N544 million contract fraud charges against the defendant were absolutely unnecessary.

The witness, Dare Folarin, told a High Court of the Federal Capital Territory (FCT) in Abuja that the allegations against Lawal ought to have been dropped immediately after the Bureau of Public Procurement (BPP) confirmed giving approval for a contract award to Rholavision Engineering Company.

He admitted that the Bureau of Public Procurement, which gave approval for the award of the contract that led to the filing of charges against the defendant never recommended investigation of the contract to EFCC.

Under cross-examination by Chief Akin Olujimi SAN, the witness admitted that the anti-graft agency ought not to have proceeded further immediately the BPP confirmed giving approval to the contract under the emergency procurement procedure to salvage the people of the North East.

Folarin, who is an operative of EFCC, like other witnesses in the trial, admitted that Babachir Lawal was not a member of the Ministerial Tenders Board under the Presidential Initiative for North East (PINE) initiated by President Muhammadu Buhari and that his role as SGF was to formulate policy and be notified of the report of the board.

The witness however testified that he could not remember being told by Babachir Lawal that he never recommended any company to PINE for contract award.

He also told the court that he could not remember being informed by the defendant that he ceased to have anything doing with Rholavision Engineering Company immediately he was appointed as SGF.

The EFCC witness further testified that he could not remember that Lawal told him during the investigation that he was never aware of any contract award to Rholavision Company and that he (defendant) got to know about the contract award during the Senate ad-hoc investigation.

“I am aware in the course of the investigation that approval for the contract award was admitted to have been granted by the Bureau of Public Procurement BPP due to its no objection to the proposal by the PINE Ministerial Tenders Board.

“I am also aware that the BPP did not recommend an investigation to EFCC on the alleged abuse of office and procurement violation,” the witness said.

Meanwhile, Justice Charles Agbaza has fixed March 31 and April 1, 2022, for further hearing in the matter.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour 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

2 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

4 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.