News

Woman Bags Six Months Jail For Hawking Naira Notes

Published

2 years ago

May 31, 2024

Editor

The Economic and Financial Crimes Crimes Commission says it has secured the conviction of a woman, Bilikis Adeyinka, for hawking naira notes in the Ikeja area of Lagos State.

The EFCC in a statement on its Facebook page on Thursday disclosed that the convict was arrested while hawking a sum of N897,900, an act which contravened Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.

Following Adeyinka’s arrest, she was arraigned before Justice Chukwujekwu Aneke of a Federal High Court sitting in Ikoyi, Lagos State on one count bordering on currency racketeering, an offence she reportedly pleaded guilty to.

The statement read further, “Following her guilty plea, prosecution counsel, C.C. Okezie, called on Olagunju Abdul Malik, an operative of the EFCC, to review the facts of the case.

“Abdulmalik told the court that the defendant was arrested on April 27, 2024, while hawking naira notes at 10 Degree Event Centre, Billings Way, Ikeja, Lagos, following credible intelligence received by the commission.

“According to him, the sum of N897,900 was recovered from her at the point of arrest. Upon her arrest by operatives, she was duly cautioned and she volunteered her statements.”

After the presentation of evidence, Justice Aneke was said to have sentenced the convict to six months imprisonment, with an option of a N50,000 fine.

The judge also ordered that the N897,900 recovered from her be forfeited to the Federal Government of Nigeria.

In a related development, five Bureau de Change operators were arrested by the Maiduguri Zonal Command of the EFCC on Tuesday.

According to a statement by the EFCC on Thursday, the suspects were arrested at the Borno State Hajj Camp, situated at the Sir Kashim Ibrahim College of Education in Maiduguri following credible intelligence about their involvement in the sale of foreign currencies.

The statement read, “Operatives of the Maiduguri Zonal Command of the Economic and Financial Crimes Commission, on Tuesday, May 28, 2024, arrested five suspected illegal Bureau De Change operators in Maiduguri, Borno State.

“The suspects were arrested in Borno State Hajj camp, situated at the Sir Kashim Ibrahim College of Education, Maiduguri. Their arrest followed credible intelligence about their involvement in the sale of foreign currencies.”

The anti-graft agency concluded that it would prosecute the suspects upon the conclusion of an ongoing investigation.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

4 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.