News

Okpebholo’s ₦100b Loan Generates Reactions, Controversy

Published

11 months ago

June 25, 2025

Editor

A Hundred Billion Naira loan approved by the Edo State House of Assembly as support for Governor Monday Okpebholo’s administration in delivering key infrastructural projects across the state is generating controversy and reactions from the public.

In a phone-in programme on Benin-based B-Side Radio 98.1FM, while some callers asked the presenter to crosscheck if the loan really amounts to ₦100b or ₦100m, some questioned the rationale behind such a huge loan.

Also, while some callers chided Okpebholo’s administration for such a huge loan, some callers into the programme asked if such a huge loan is what the state needs at the moment in whatsoever infrastructure it may be used for, arguing that poverty and insecurity has taken over the state.

The callere urged the governor to address pressing issues such as insecurity and hardship rather than things that ordinarily does not add values to their lives.

The Edo State House of Assembly had yesterday
approved a ₦100 billion loan facility from First Bank of Nigeria PLC to support Governor Monday Okpebholo’s administration in delivering key infrastructural projects across the state.

According to the State Assembly, the loan will be utilized to finance major infrastructural developments, contractor financing, and urban renewal projects in line with the Governor’s five-point development agenda.

These projects are expected to boost economic growth, improve transportation, create job opportunities, and enhance the overall quality of life for Edo citizens.

Speaking during the plenary session, the Majority Leader, Hon. Jonathan Ibhamawu, highlighted several key projects the loan would support. These include the construction of flyover bridges at Ikpoba-Hill, Dawson Junction, and Adesuwa Junction in Benin City, as well as the development of major roads in Edo Central ,Edo South and Edo North Senatorial Districts.

Hon. Ibhamawu also explained that while the state government has budgeted for these developments, revenue allocations from the federal level have fallen short of expectations, making the loan necessary to meet the administration’s goals.

The Speaker, Hon Blessing Agbebaku, emphasized that his local government Owan West and other local government would also benefit significantly from the infrastructural projects. The loan approval was passed through a voice vote by the lawmakers, after which the Speaker directed the Clerk, Alhaji Yahaya Audu Omogbai, to forward clean copies of the resolution to the Governor.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 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

5 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

7 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.