News

[PICTORIAL] N1.3bn Fraud: General Overseer Acquired Hotel, Others With Subscribers’ Funds – EFCC

Published

2 years ago

February 7, 2024

Investigations by the Economic and Financial Crimes Commission, has revealed fresh facts on the alleged criminal activities of the General Overseer of Faith on the Rock Ministry International, Apostle Theophilus Ebonyi.

This was disclosed in a statement posted on the commission’s Facebook page on Wednesday.

According to the statement, Ebonyi acquired a 23-room hotel, a pure water factory, two blocks of a primary school with the proceeds of his alleged fraudulent dealings with his subscribers.

Others include a two bungalow office at Nyanya-Gwandara, New Karu. Abuja and a five-bedroom duplex at Karsana, Abuja.

Ebonyi was also said to have set up a live broadcast channel with studio equipment for his Theobarth Global Foundation with the funds of his subscribers.

The general overseer was arrested in 2023 by the EFCC for allegedly defrauding his church members and other Nigerians using fake grants from the Ford Foundation to the tune of N1,319, 040, 274.31.

He was arrested for defrauding his victims, comprising Non Governmental Organisations, NGOs and individuals by advertising an intervention project through his NGO (Theobarth Global Foundation) claiming that the Ford Foundation was offering a grant of $20bn to assist the less-privileged in the society.

The statement read, “Fresh facts have emerged about the alleged criminal activities of the General Overseer of Faith On The Rock Ministry International, Apostle Theophilus Oloche Ebonyi, recently arrested by the Economic and Financial Crimes Commission.

“He allegedly hoodwinked his victims to subscribe as beneficiaries of the phony grant by asking them to pay for registration forms and clusters. Each subscriber was made to pay N1.8m. Through this arrangement, Ebonyi allegedly raked in N1,391,040, 274.31.

“His subscribers are innocent and unsuspecting Nigerians and NGOs across the country.

“Investigations by the EFCC showed that Ford Foundation had no arrangement, grant, relationship or business with Ebonyi. The Foundation pointedly disclaimed him and his NGO stressing that it had no link whatsoever with them. The Commission has also traced five properties he acquired as proceeds of his criminal dealings.

“Ebonyi is still reportedly reaching his subscribers on some social media platforms to market his spurious grant from Ford Foundation.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

3 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

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.