News Agency of Nigeria
Alia Cares gives ₦150,000 grant to 4,000 small business owners
Metro

Alia Cares gives ₦150,000 grant to 4,000 small business owners

By Dorathy Aninge

Benue Commissioner for Finance, Mr Michael Oglegba, says the Alia Cares Scheme has so far given ₦150,000 grants to more than 4,000 small business owners to expand their businesses.

Oglegba made the disclosure in an interview with the News Agency of Nigeria (NAN) on Sunday in Makurdi.

The commissioner said that some big business owners were also given N500,000 grants each to grow their businesses.

He said that the scheme was funded by the state government with the support of the World Bank to boost the state economy.

“So far, we have given more than 4,000 people a grant of N150,000 to inject into their small businesses and make a profit to expand.

“This is done across the state, and we are still getting more requests.

“Not only small businesses; we also gave out grants of N500,000 to big businesses like saloons to also inject and build bigger businesses.

“Farmers are also not left out in the scheme; we have Fadama, which is a direct intervention for farmers where they are given inputs like fertiliser. Those interested in piggery can get a female and male piglet to breed.

“If you are a poultry farmer, the scheme gives you day-old chicks. It also gives out cassava stems to farmers to plant, while those who do cassava processing were given hundreds of cassava processing machines.

“So, all these projects are funded through contributions from the state government and support from the World Bank, and the scheme has been successful,” he explained.

Oglegba said that the scheme was also providing immediate support to the poorest of the poor in the society.

According to him, beneficiaries are supported through direct cash transfers on a monthly basis.

He said that the direct cash transfers were done in batches so that all vulnerable persons could benefit from the scheme.

“We have a scheme for the elderly where we pay them 10,000 monthly but use different parameters in the state and try to determine who is poor and most vulnerable.

“This programme runs for nine months to a year, then we start with another set of beneficiaries so that this can go round to the most vulnerable in the state,” he said.

He said another ongoing intervention was for the strong who were unemployed and were given a stipend and a task to do to justify the pay.

“The beneficiaries of this intervention are drawn from the social register across the state, and they do some menial jobs within the state and then get paid.

“We also have a scheme under Alia Cares that supports communities in need of direct intervention. There is a list of services which they choose from while the government gives out the funds for the project.

“We ask what the basic needs of the community are, be it schools, boreholes or even primary healthcare; the community chooses its contractors and team while the government funds the project to completion.

“Presently, from January to date, 54 of these community projects have been done to completion across the state through the intervention and are one hundred per cent successful,” Oglegba said. (NAN)(www.nannews.ng)

Edited by Peter Amine

 

Taraba lawmaker seeks translating National Anthem into local languages
General News

Taraba lawmaker seeks translating National Anthem into local languages

By Martins Abochol

Alhaji Audu Lauya, a member of the House of Representatives, has urged ethnic groups to translate the National Anthem into their mother tongues, to promote patriotism and development in the country.

Lauya (PDP – Lau/Karim Lamido/Ardo Kola Federal Constituency) said this at the First Edition of Sungki Yandang Cultural Carnival in Mayo-Lope, Lau Local Government Area of Taraba.

He said that translating the reintroduced National Anthem into different dialects would promote understanding and foster unity.

Lauya advised other tribes to emulate the Yandang Tribe, who sang the three stanzas of National Anthem in Yandang Language.

He promised to support the youths to secure employment at the federal level, urging those who were qualified to apply in the ongoing Nigerian Army recruitment.

The lawmaker also eulogised the Yandang Community as a peace loving and dependable set of people.

Sen. Shuaibu Lau (PDP- Taraba North), pledged to facilitate connection of the Abbare Mayo-Lope to the national grid.

Lau said the power would serve as a source of employment generation to the Yandang teaming youth population.

The senator, while commending the Yandang people for their support during the 2023 general election, said that their vote ensured development, peace and stability.

He urged the Yandang people to continue to live in peace with one another.

Gov. Agbu Kefas, also promised to rehabilitate, reconcile and reintegrate the Yandang communities displaced by the farmers/herders’ conflict in 2018.

Represented by Timothy Kataps, the Secretary to the State Government, Kefas commended the Yandang community for organising the cultural festival.

He announced plans by his administration to enlist the carnival under the state’s cultural calendar.

The News Agency of Nigeria (NAN) reports that the event attracted the people of Yandang from all walks of life as well as traditional leaders from Gombe, Adamawa and Taraba. (NAN)(www.nannews.ng)

Edited by Rabiu Sani-Ali

Yagba Summit: Leaders call for unity, development
Community

Yagba Summit: Leaders call for unity, development

By Thompson Yamput

The sons and daughters of Yagbaland in Kogi, under the aegis of ‘Apapo Omo Yagba Organisation’ has tasked their community on unity and peaceful coexistence to ensure meaningful development.

The group made the call in a communique signed by, Mr Ayodele Osasona and Mr Philip Orebiyi, Chairman and Secretary respectively, on Sunday after its 2025 Unity Summit held in Mopa, Kogi.

The summit had the theme:”Unity in Diversity: Building a Brighter Future for Yagbaland”.

According to the communique, the summit aimed to discuss the challenges facing the Yagba people and propose solutions.

“Our unity is non-negotiable and must be prioritised to overcome challenges, boost our economic fortunes and achieve the desired development,” it stated.

It noted the terrible state of Federal Roads in Yagba land, which they said was no longer acceptable.

“All elected and appointed political office holders in conjunction with Yagba sons and daughters with capacity should immediately interface with relevant agencies of governments to ensure that our roads are fixed.

“All Local Government Chairmen and Royal Fathers should interface with Gov. Ahmed Ododo to provide more funds to local councils to address security issues and encourage investment in Yagbaland,” it added.

The communique urged the local government chairmen to keep the peace by ensuring that local securities collaborate with conventional security agencies to fight insecurity.

It added that regular town hall meetings should be organised as a way forward.

“Strengthening the security system is crucial due to the security challenges posed by mineral resource exploration going on in our land.

“For infrastructural development, we strongly call for the establishment of federal institutions, such as universities and polytechnics, in Yagbaland,” it read.

The communique also highlighted the need to prioritise quality education and healthcare services in order to enhance the lives of Yagba people.

On security funding, the communique advocated for the creation of a separate account for security trust funds with a strategy put in place to make the collection and spending of such funds transparent.

It also said that regular town hall meetings should be organised to engage political office holders and get feedback from the electorate.

“A lobbyist committee should also be constituted to identify opportunities for development and create employment opportunities for youths,” it added.
(NAN)(www.nannnews.ng)

Edited by Edith Bolokor/Isaac Ukpoju

LG polls: Accord Party offers free forms to women, PwDs
Politics

LG polls: Accord Party offers free forms to women, PwDs

By Adeyemi Adeleye

The Accord Party in Lagos State has announced free nomination forms for female aspirants and Persons with Disabilities (PwD) in the July 12 local elections.

The Chairman of Lagos State Accord Caretaker Executive Committee, Mr Dele Oladeji, disclosed this in the party’s Election Guidelines and Timetable, released on Sunday in Lagos.

Oladeji said chairmanship and vice-chairmanship aspirants in this category would, however, pay a N100,000 administrative fee, while councillorship aspirants would pay N50,000.

For male aspirants, the chairman stated that chairmanship and vice-chairmanship seekers would pay N500,000 for nomination forms and N100,000 in administrative fees.

Male councillorship aspirants are required to pay N150,000 for nomination forms, alongside a N50,000 administrative fee, according to the chairman.

Oladeji said: “Accord has made its ticket very affordable, as a considerate response to the severe economic challenges facing the state.

“This is aimed at enhancing accessibility to governance and encouraging participatory democracy among ordinary Lagos residents, not just the wealthy elite.

“In addition to affordable forms, Accord is offering free nomination forms to female aspirants, empowering women and supporting the 35 per cent Affirmative Action goal.”

Highlighting the election timetable, Oladeji said purchase of nomination forms would run from April 19 to May 10 at the party’s state secretariat.

He stated that submission of forms would close on May 10, with screening of aspirants scheduled for May 12 and party primaries on May 14.

He added that the party’s Primary Tribunal Committee will sit on May 15, while any required rerun election would take place on May 17.

Oladeji noted that all payments must be made to the party’s designated bank account, with receipts presented to the Accord State Treasurer for processing.

He emphasised that Accord remains a key opposition party in Lagos State, with a proven record of successes in past LG/LCDA elections.

“Join us to rekindle our winning tradition once more. We shall defend and deliver the people’s mandate,” Oladeji said. (NAN)(www.nannews.ng)

Edited by Modupe Adeloye/Kamal Tayo Oropo

Akalaka initiative grooms future MMA champions
Sports

Akalaka initiative grooms future MMA champions

By Babatunde Ogunrinde

Dr Ebere Bernard, Chief Executive Officer of Akalaka, Spirit of the Warrior, on Sunday said he is committed to developing youths through organising Mixed Martial Arts (MMA) contests.

Bernard told the News Agency of Nigeria (NAN) in Lagos that Nigeria is blessed with abundant talent, but much more must be done to keep youths busy.

According to Bernard, Akalaka, Spirit of the Warrior, is an initiative aimed at keeping youths active and preparing them for national and international MMA Championships.

“I want to take as many youths as I can from the streets and develop them through MMA Championships where they can rise to international stars.

“It is capital intensive, but I am determined to invest my funds to give many MMA fighters a platform to improve their ratings and achieve global success,” Bernard said.

NAN reports that no fewer than 22 warriors clashed in several weight categories for the male division at the just-concluded event in Lagos.

Four female fighters also competed at the event, which was tagged ‘Battle of the Hood’ and held at the Lukmon Oluomo Sports Complex, Awodi-Ora, Ajegunle, Lagos.

The main card of the fight night was headlined by Kabiru ‘Hulk’ Adeniran clashing with Atiti Fidelis, with Adeniran overpowering Fidelis in a first-round technical knockout win.

In the female category, Immaculata Nelson, fighting in the flyweight division, dominated two fights and emerged the best fighter of the night.

She told NAN she had worked hard for the fights, engaged in serious preparations and was very thankful for the opportunity to showcase her talent. (NAN)(www.nannews.ng)

Edited by Kamal Tayo Oropo

NDIC begins payment to Heritage Bank depositors
Economy/Business

NDIC begins payment to Heritage Bank depositors

By Ginika Okoye
The Nigeria Deposit Insurance Corporation (NDIC) has started payment of N46.6 billion in liquidation dividends to depositors of the defunct Heritage Bank.

Hawwau Gambo, Acting Head, Communication and Public Affairs, said the funds were realised from sales of the bank’s assets and recovery of debts owed.

Gambo explained that a liquidation dividend is paid to depositors of a closed bank, beyond the maximum insured limit, using proceeds from asset sales and debt recovery.

She added that liquidation dividends may also cover payments to creditors and shareholders once all depositors have been fully reimbursed.

The NDIC began payment of the first tranche of liquidation dividends on April 25.

According to Gambo, the initial dividend is paid at 9.2 kobo per Naira on a pro-rata basis to depositors with balances above N5 million.

She noted that further payments would be made as more assets of the defunct bank are realised and outstanding debts recovered.

Following the revocation of Heritage Bank’s licence by the Central Bank of Nigeria (CBN) on June 3, 2024, NDIC immediately reimbursed insured deposits up to N5 million.

To ensure a seamless process, NDIC used depositors’ Bank Verification Numbers (BVN) to locate alternate accounts and automatically credit the insured amounts.

The corporation also used existing records from insured payments to disburse the first tranche of liquidation dividends.

“Depositors with balances exceeding N5 million who did not receive their liquidation dividends should visit the nearest NDIC office.

“Depositors without alternative bank accounts, who were not paid the insured amount, should also visit NDIC offices or download forms from www.ndic.gov.ng.

“Depositors must complete and submit a deposit verification form to receive their insured amounts and, where applicable, the first tranche of dividends,” Gambo said.

She reiterated NDIC’s commitment to ensuring the recovery of assets and the reimbursement of all eligible depositors. (NAN)(www.nannews.ng)

Edited by Kamal Tayo Oropo
Gov. Uzodimma optimistic of more defection to APC
Politics

Gov. Uzodimma optimistic of more defection to APC

By Naomi Sharang

Gov. Hope Uzodimma of Imo says he is optimistic that more members of the opposition party will defect to the All Progressives Congress (APC).

He made this known while briefing newsmen in Abuja after a meeting with political stakeholders from Delta.

The News Agency of Nigeria (NAN) reports that Gov. Sheriff Oborevwori of Delta had recently defected from the Peoples Democratic Party (PDP) to the APC.

Uzodimma said: “You can see the tide is moving and people are joining and there will be no end to it. You must have heard that our party in Delta is growing from strength to strength.

“The high point of the state of the party is that Delta is now almost a one-party state.”

Uzodimma, who chairs the Progressives Governors Forum (PGF), said that with the development in Delta, the APC would use its internal mechanism to integrate old and new members.

“We have to meet to be able to manage this very huge success, to ensure that using the mechanism, the internal mechanism of our great party, that we will receive our new members, our new leaders.

“We will then come together as a family to grow the party and support the government in Delta for the benefit of our people and members of our great party.

“So, I think we are happy with the development and a big testimony to the fact that the APC government in Nigeria is being admired by many, if not all and sundry.” (NAN) (www.nannews.ng)

Edited by Ismail Abdulaziz

Experts call for inter-agency taskforce to address ponzi pitfalls in ISA
Economy/Business

Experts call for inter-agency taskforce to address ponzi pitfalls in ISA

By Ginika Okoye

Some capital market experts have called on the Securities and Exchange Commission (SEC) to create an inter-agency digital surveillance taskforce to address ponzi schemes related gaps in the Investment and Securities Act (ISA, 2025).

The experts spoke at a webinar organised by the Institute of Capital Market Studies (ICMS) Nasarawa State University, Keffi (NSUK) in collaboration with the Capital Market Academics of Nigeria (CMAN) on Sunday.

Prof. Uche Uwaleke, the Director of ICMS, NSUK, said that although ISA 2025 represented a significant step forward in modernising the country’s capital market, critical regulatory blind spots remained.

Uwaleke said the taskforce should include agencies like SEC, the Economic and Financial Crimes Commission, the Nigerian Communications Commission and the National Information Technology Development Agency.

He also suggested the establishment of a public verification portal to enable citizens check and confirm genuine investment platforms before investing.

The director said fraudulent schemes springing up often used informal channels/social media like WhatsApp, Instagram or unregistered digital apps and were difficult to monitor.

Uwaleke said the inter-agency collaboration would help stop the activities of those fraudulent schemes in real time.

“Prohibited scheme which is mentioned in S. 192 (page 182) of ISA 2025 is defined under Miscellaneous provisions (page 305) to include ‘ponzi or pyramid schemes.’

“These provisions seem to focus on ponzi schemes with physical presence.

“Springing up today are fraudulent schemes that often use informal channels/social media (e.g WhatsApp, Instagram or unregistered digital apps) and are difficult to monitor or stop in real time.

“Despite the ISA’s stronger penalties, (liability of the promoters on conviction to a fine of not less than N20 million or imprisonment to a term of 10 years or both (S.192).

“Lack of proactive detection mechanisms means investors may still be defrauded before SEC can act,” he said.

Augustine Agom, Professor of Law from the Ahmadu Bello University Zaria, said investors’ protection was key in the ISA.

Agom said the law had enhanced regulatory sanctions.

He advised stakeholders and investors in the market to be careful of some sharp practices.

According to him, it is time for investors to come to the market.

Also analysing the ISA, 2025, Adesina Bello, a Professor of Law, said the capital market would be better if the ISA, 2025 was fully complied with.

Bello who spoke on Registration, Regulations and Financial Market Infrastructure, said the law would empower SEC to ensure that stakeholders adhered to the provisions of the law.

Aliyu Sanusi, Professor of Economics at the Ahmadu Bello University Zaria, said the recognition of non-interest financial instruments and project-specific bonds would open the market to broader investment classes.

Sanusi said the robust penalty regime of the ISA significantly raised the cost of mismanagement or abuse, protecting market integrity.

“Issuance preconditions (IGR ratios, debt service caps) will improve subnational and agency borrowing discipline,” he said.

The Director-General of SEC, Dr Emomotimi Agama, had said the law would help to create a dynamic, inclusive and resilient capital market for the economy.

The News Agency of Nigeria (NAN) reports that many stakeholders and experts in the market gave insights into the ISA, 2025. (NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma

Post-harvest losses: NSPRI delivers 1,000 hermetic drums to Borno govt.
Agriculture

Post-harvest losses: NSPRI delivers 1,000 hermetic drums to Borno govt.

By Felicia Imohimi
The Nigerian Stored Products Research Institute (NSPRI) says it has delivered no fewer than 1,000 hermetic drums to smallholder farmers in Borno to reduce the burden of post-harvest losses.
NSPRI said the gesture would as well enhance the source of livelihood of the farmers and ensure food security and sustainability.
Prof. Lateef Sanni, Executive Director of NSPRI, disclosed this to the News Agency of Nigeria (NAN) at the second Post-harvest Connect Conference and Exhibition and National Cassava Conference, in Abuja.
Sanni said that the institute had a lot of interventions on post-harvest losses  including tomato crate, hermetic drums and NSPRI Dust (a non-chemical solution).
He identified the institute’s overall mandate as – to improve the efficiency and effectiveness of post-harvest handling and storage of agricultural commodities, thereby enhancing food security and reducing losses.
“We have quite a lot of interventions that people do not know, like tomato crate for instance, which took us almost one and half decade to get it right.
“NSPRI Dust, a non-chemical solutions for storage, hermetic drums, and we just delivered one thousand of that to Borno State for smallholder farmers,” he said.
According to him, there are quite a lot of solutions from other research institutions.
“What we are trying to do now is how we can harmonise and gather everything to be able to scale up post-harvest solutions,” he said.
Sanni identified post-harvest solutions as a responsibility of all and sundry.
He said the organisation was working with all the agricultural development agencies in each state.
According to him, new players are coming on board, like private extension agents that can also reach the grassroots apart from the state agricultural programme.
He identified private sector as key in addressing the nation’s huge post-harvest challenge, urging private players to come on board with their technology.
NAN reports that NSPRI, a Federal Government institute, has the mandate of conducting research into post-harvest handling and storage problems of agricultural commodities to reduce losses and improve food security.
It develops and fabricates post-harvest handling equipment and storage structures to enhance the quality and safety of agricultural produce.
It also disseminates research findings and technologies to farmers, industrialists, produce handlers and inspectors. (NAN)(www.nannews.ng)
Edited by Benson Ezugwu/Folasade Adeniran
SEC begins campaign against ponzi schemes in markets, churches
General News

SEC begins campaign against ponzi schemes in markets, churches

By Ginika Okoye

The Securities and Exchange Commission (SEC) has begun campaign to sensitise citizens against investing in ponzi schemes.

Speaking during the exercise in Wuse Market, Abuja, Dr Emomotimi Agama, the Director-General of SEC, said the move was to educate people on the dangers of ponzi scheme.

Agama, who regretted that some traders had fallen victims to the schemes, said the sensitisation was to engage the people physically.

He said the commission would take the sensitisation to markets across the country, churches, mosques, hospital and barracks to reach all citizens.

“We decided to do this because we discovered that it is difficult for people to get the information that they require and we sitting in our offices and requiring them to get information from our website, this might be difficult.

“So, we needed to come out physically to let them know the dangers of ponzi scheme.

“The traders were happy and a lot of them have fallen victims of ponzi schemes and they are now being enlightened.

“Ponzi scheme is a global event; we will deal with it.

“The SEC of today is coming out to reach out to the people, this has never happened before,” he said.

Agama appealed to the media to help the commission disseminate the information on the dangers of ponzi schemes.

Some of the traders who had fallen victim of ponzi schemes advised citizens to be careful of investments which promised double returns.

Mr Abraham Onoja, a victim and a trader at Wuse Market, said he lost his seven million naira to the scheme.

“I invested N2 million and after one week, I was paid N2.45 million.

“I felt like it is the real one and my neighbour invested N20 million and after seven days, they paid him N27 million.

“I now invested N7 million and the next day, I heard that the people are no where to be found.

“I don’t so much believe in money doubling until someone convinced me to do it,” he said.

Mr Chijioke Nnodim, also a trader at Wuse Market, advised citizens to verify and watch well before investing in any company. (NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma

X
Welcome to NAN
Need help? Choose an option below and let me be your assistant.
Email SubscriptionSite SearchSend Us Email