News

New Naira: Supreme Court Consolidates States’ Suit Against FG

Published

3 years ago

February 22, 2023

Editor

The Supreme Court on Wednesday consolidated various suits instituted by state governments, numbering 10, with the most recent joiner being Abia State.

The suit is challenging the implementation of the naira redesign which was newly introduced.

The motion for the consolidation was argued by counsel for Rivers State, Emmanuel Ukala.

Ukala, while moving the motion on notice, premised the consolidation request on the need for the suit to be heard without any impediment since the matter bothers on same issue.

Presiding over the seven-man panel of justices, Justice John Okoro granted the request and ordered consolidation of the 10 suits into one.

Faced with many requests, the court maintained that come what may, the new naira suit must be heard.

During the proceeding, counsel for Lagos State, Moyosore Onigbanjo, also prayed the court to prohibit the Attorney General of the Federation, Abubakar Malami, from defending the respondents while acting in contempt of initial court orders as he “comes tongue in cheek to ask for reliefs”.

He stated that the “issue of contempt supersedes issue of jurisdiction”.

Responding, Justice John Okoro stated, “You are not a stranger to this country. We don’t want a situation where the judiciary will be a scapegoat. We refuse to be the scapegoat.

“We are hearing this matter today. We don’t intend to keep this matter longer…whether they obey it or not.”

Following a series of declarations signalling late receipts of court servings, the court granted a short break.

On the resumed sitting, Abia State, which was initially denied joining the suit on the ground that it came late to the suit and was advised to present its case at a later date, became the most recent joiner.

After the short break, the state was admitted to join as a plaintiff in the suit.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

10 minutes 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

31 minutes 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

3 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.