News

South-South, South-East Professionals Demand Reinstatement Of Rivers Democratic Institutions

Published

1 year ago

March 27, 2025

The South-South, South-East Professionals of Nigeria, SESSPN, have strongly condemned the suspension of key democratic institutions in Rivers State following the declaration of emergency rule by President Bola Tinubu.

The group has called for the immediate reinstatement of Governor Siminalayi Fubara, his deputy, Professor Ngozi Odu, and the state’s elected lawmakers, warning that the political crisis is already deterring foreign investment.

Last Tuesday, President Tinubu imposed emergency rule in Rivers State, citing ongoing political instability.

However, in a statement released on Thursday, SESSPN’s Chairman of the Board of Trustees, Mr. Emeka Ugwu-Ojo, criticized the move as counterproductive.

He revealed that foreign investors who had previously expressed interest in the state’s non-oil sectors are now withdrawing, shifting their focus entirely to Lagos due to the absence of a constitutionally recognized government in Rivers.

Ugwu-Ojo shared an account of a recent visit by an international investor who had been keen on opportunities in Rivers, Lagos, and Abuja. Before leaving Nigeria, the investor had expressed confidence in Rivers State’s business environment following meetings with government officials. However, with the sudden dissolution of the state government, all investment plans for Rivers have been abandoned, with Lagos now the sole focus.

According to SESSPN, this situation is disastrous for the state’s economy. Rivers had been actively working to attract private sector investments to diversify beyond oil and gas.

Now, with the uncertainty created by emergency rule, no serious investor is willing to engage with a state administration that lacks constitutional legitimacy. The group warned that if the situation is not reversed, Rivers could lose billions in foreign direct investment, similar to how companies fled during the militancy era and never returned.

The ongoing political turmoil also threatens a major development initiative known as the Port Harcourt to Maiduguri Economic Corridor. This ambitious project, aimed at boosting trade and industrialization across the South-East, South-South, North-Central, and North-East regions, was set to position Rivers State as a key hub.

However, with the crisis scaring away investors, the economic vision for the corridor is now at serious risk.

SESSPN stressed that the federal government must act swiftly to prevent lasting economic damage.

The group urged the presidency and the National Assembly to reinstate Rivers’ elected leaders and restore democratic governance in the state. They argued that the people of Rivers should not be punished for political disputes among a few politicians.

With mounting public concern, the professionals’ group insisted that any political crisis in Rivers should be resolved peacefully—without undermining the democratic process.

They reiterated that investors require stability, and the current situation is sending the wrong message to both local and international stakeholders, the statement added.

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.