News

Oil Theft: Tonye Cole Disagrees With Asari Dokubo

Published

3 years ago

June 24, 2023

Editor

All Progressives Congress, APC governorship aspirant in Rivers state, Tonye Cole has said the military is not responsible for 99 per cent of the crude oil theft happening in the Niger-Delta region.

Although, Cole told Vanguard that there was nothing new in what Dokubo-Asari said – that the military was complicit in crude oil theft.

He said, “But 99 per cent military involvement is way too much. I do not think the military is upset with Dokubo-Asari for accusing them of involvement.

“Those at the helm of security cannot deny there are bad eggs among them, who aid oil theft, but to say 99 per cent means he (Asari) assumed that almost all the oil theft happening is being done solely by the military.”

Also reacting to the development, the president, Movement for Survival of Ogoni People, MOSOP, Fegalo Nsuke, told Saturday Vanguard that the military involvement in crude oil theft is something already known and long established.

“Dokubo-Asari only re-echoed it. It is not just the army and navy, police are also involved,” he said.

Nsuke further stated, “Asari is not talking about what is new. The pipelines run in our communities and we see what happens to them.

“We see how they truck the stolen products across the country in a coordinated logistics system. Therefore, they cannot ask Asari or anyone else to name people they always transfer and replace.

“Former governor of Rivers state, Nyesom Wike, accused a brigade commander of this same crime, what was the response of the Defence Headquarters? They did nothing. MOSOP has severally raised the issue also, and they did nothing in response.

“To better understand police and military involvement, begin by seeking answers to how fake products get to petrol stations far and near despite the security on the roads.

“Understanding that alliance will bring you to the compromises that follow because they reported and investigated these crimes to the security posts, within the domains they moved the products.

”So it ends with alliances instead of punishments. However, it is much bigger than that. It has become a huge business and several incidences have shown compromise between the oil thieves and the military men sent to secure the pipelines.

“It is a complex and coordinated crime. It would have been better for the navy to be silent and use their intelligence to investigate these allegations, address the issues because they are real and Asari does not need to name anyone,” he said.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

7 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

2 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.

News

Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria

Published

20 hours ago

May 5, 2026

Editor

Senator Adams Oshiomhole has called on the Federal Government to retaliate against South African businesses operating in Nigeria following the recent attacks on Nigerians in South Africa.

Speaking during plenary on Tuesday, Oshiomhole said the Federal Government should consider revoking the working license of South African owned companies such as MTN and DSTV.

He argued that Nigeria must respond firmly to what he described as persistent hostility against its citizens.

“I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.

He argued that while some South Africans accuse Nigerians of taking their jobs, Nigerians should return home and take over employment opportunities created by major South African companies operating in the country, including MTN and DSTV.

“When we hit back, the President of South Africa will not only talk but will also go on his knees to recognise that Nigeria cannot be intimidated.

“We will not condone any life being lost. If a crime has been committed under the South African law they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that,” Oshiomhole added.

DAILY POST reports that several Nigerians in South Africa have reportedly been attacked, and their businesses destroyed, in ongoing xenophobic attacks in the country.