New naira: Commercial Sex Workers Count Losses, Decry Low Patronage

Published

3 years ago

February 19, 2023

Editor

Some commercial sex workers in the Federal Capital Territory have decried low patronage in their business due to the scarcity of naira notes.

Some of them who spoke to the News Agency of Nigeria in Abuja on Sunday said the scarcity of the notes was a threat and had crippled their businesses.

They said that although the currency swap policy was commendable, the current mode of implementation was a challenge to their business.

Miss Alexandra Tricia (pseudonym), a commercial sex worker, said her customers had reduced drastically due to the current ‘no cash syndrome’.

She described the development as both frustrating and slow for the business.

”The business is no longer booming like before because there is no cash anywhere.

”Some of my customers will come and after negotiations, they will ask if I have an account so they can transfer the money to me.

”When I give them the account number, they will press their phones and tell me that they have transferred some money.

”The worst part of it is that you will see their own alert in their phones but most times you will not get your own alert.

”They will want you to start the service immediately without you getting an alert and when you refuse, some of them will start making trouble.

“ In fact, there is one of my colleagues that a customer sent a transfer alert to but up till now, the money is still pending but she has serviced the man,” she said.

Another sex worker, Miss Ifedi Ote (pseudonym), a university dropout, said many of her colleagues in the business had left temporarily due to the current cash crunch.

She said the development had caused customers who had little cash at hand to pay ‘next to nothing’ for their services.

”Clients who have cash will price you as low as N1,500 to N3,000.

”When you refuse, they will tell you that the amount is the only cash they have on them and because I need cash, I will be forced to accept the price.

”Even the Point of Sale agent where we usually direct our customers to for money has suddenly run out of cash for the past two weeks.

”I think this policy is a good one because it is meant to curb crime but the banks are not implementing it well,” she said.

Another commercial sex worker, Tracy Ehigbere, appealed to the authorities concerned to urgently address issues around the currency swap policy.

NAN reports that some of the mammy markets and brothels visited along FCT satellite towns which usually witnessed beehives of activities were deserted.

NAN

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.

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.