News

Senate Moves To Reduce President’s Power On EFCC Chair’s Removal

Published

3 years ago

December 13, 2022

Editor

A bill seeking to whittle down the power of the President on the termination of the appointment of the chairman of the Economic and Financial Crimes Commission, EFCC, on Tuesday, passed the second reading in the Senate.

The piece of legislation titled, “Economic and Financial Crimes Commission (Establishment) Act Amendment Bill and for other Matters Connected Therewith 2022”, sponsored by the Senate Minority Whip, Senator Chukwuka Utazi (PDP, Enugu North), also seeks the restriction of appointment into the office from EFCC staff.

Senator Utazi, while leading the debate on the bill, said in ensuring the security of tenure for the EFCC chairman, the Senate should approve the removal of any chairman on the firing line of the president as it does in the appointment.

He said: “One of the thrusts of this amendment is the issue of security of tenure for the executive chairman of the commission.

“For other anti-graft agencies created through the legislative instrumentality, before and later, that is, the Independent Corrupt Practices and Other Related Offences Commission, ICPC and Nigerian Financial Intelligence Unit, NFIU, the National Assembly ensured that the headship had security of tenure by ensuring that their appointments and removal, as the case may be, were subject to the confirmation of the Senate.

“That was not the case with the EFCC. Therefore, in this proposed amendment, it is intended to bring the EFCC in conformity with the other two anti-graft agencies of government. This will engender optimal performance by the commission of the very important mandate assigned to it.”

Senator Utazi added that the other thrust of the amendment, despite already being taken care of, by President Muhammadu Buhari with the appointment of Abdulrasheed Bawa as EFCC chairman in February last year, required law to restrict such appointment to EFCC staff as being sought by the bill.

“As a new commission, it was understandable that its headship was appointed from outside of the commission, for obvious reasons.

“However, the turning point of the commission came when this administration which has as its mantra in the fight against corruption, took the pioneering and audacious step by looking inwards, in the commission to pick the first Executive Chairman of the Economic and Financial Crimes Commission to head it.

“This is very commendable and President Muhammadu Buhari has carved his name and administration in gold by this very singular action, and posterity will never forget him.

“All that is required of this Parliament is to endorse this executive action by amending the EFCC Establishment Act to restrict non-trained EFCC staff from the headship of the commission, going forward. This will enhance professionalism in the service of this anti-graft agency,” he stressed.

Many senators, who contributed to the debate, supported the argument of seeking approval of the Senate before the termination of the appointment of any EFCC chairman by the President but differed on restricting the appointment of the commission’s chairman to insiders.

In his remarks after the bill scaled second reading, the Senate President, Dr Ahmad Lawan, said restricting the appointment of the chairman of EFCC to insiders is a very good one but the proposed law, must state it clearly that the position is political and not civil service that will require the most senior officer to assume the chairmanship position.

The bill was accordingly forwarded to the Senate Committee on Anti-Corruption and Financial Crimes for more legislative inputs within four weeks.

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

4 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

6 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.