News
Why Parliamentary System May Not Work — Obasanjo
Former President Olusegun Obasanjo on Saturday cautioned people calling for the return of a parliamentary system of government to replace the existing presidential structure.
Obasanjo said running a parliament comes with its challenges.
Obasanjo, who governed the country as head of state from 1976 to 1979 and as a democratically elected president from 1999 to 2007, stated that elder statesmen like him ought to know better.
The former president clarified his position on the debate when he spoke as a guest of honour at the public presentation of the book “Court and Politics,” authored by Umar Ardo.
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Ardo was the governorship candidate of the Social Democratic Party in the 2023 general election in Adamawa State.
Obasanjo was reacting to the argument raised by a member of the Northern Elders Forum and former vice chancellor of Ahmadu Bello University, Ango Abdullahi, in favour of the parliamentary system.
Abdullahi declared at the book launch that he was in support of the recent by some lawmakers to return Nigeria to parliamentary democracy.
The former military ruler, who was represented by ex-Niger State Governor, Babangida Aliyu, however, explained that ‘the 24 years of practising presidential system’ in Nigeria were not enough, adding that the most important thing to do was to devolve power and resources from the centre (federal) to the states and local governments level.
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He said, “To bring it back home, no matter what you bring, if the political culture is not there—the same attitude, the same people, the same ways of doing things—we are wasting our time. The second issue is that you imported the parliamentary system in 1960 without the requisite political culture to hold it.
“Now you imported the presidential system, and I have heard people say to bring back the parliamentary system again.
“Anybody who remembers the coup of 1966 will associate that coup with the elections of 1965, leading to the killing and murdering of people in the name of politics. No matter what you bring and no matter what you import, if the political culture is not there, it will not work.”
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According to him, the poor resource management and low productivity among Nigerians are to blame for the nation’s current economic predicament.
Again, the former president faulted Abdullahi for saying the North has failed its people.
The former number one insisted that the leaders and not the followership should be held accountable for the region’s backwardness.
“Don’t say northern Nigeria failed when you produce somebody who does not know what to do. We should be blaming those people,” he stated.
News
Transfer: Premier League Clubs Scramble For Dele-Bashiru
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.
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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
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.
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“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
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.
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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).
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“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.
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