FirstBank Gives Single-Digit Loan To Female Entrepreneurs

First Bank of Nigeria Limited has launchrd the FirstGem fund (FirstGem loan), a single-digit loan scheme, targeted at female entrepreneurs.

Folake Ani-Mumuney, the bank’s Group Head, Marketing and Corporate Communications, conveyed this in a statement made available to newsmen.

She explained that the scheme was exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.

She said: “We are delighted with the role our FirstGem product plays in creating an avenue to enlarge the business activities and endeavours of female entrepreneurs across the country. Our FirstGem value proposition offers real solutions to constraints encountered by female entrepreneurs and working professionals, as it exposes women to opportunities for the advancement of their business.

“We implore every female business-minded individual to take advantage of the FirstGem loan as it puts them at an advantage to contribute their quota to the national economy.”

She said the FirstGem loan scheme was designed for female-owned or partnered SMEs who were into food/beverage processing and packaging, beauty and cosmetics, confectionaries, catering and restaurants, transportation (Logistics) and agric/agro-allied (retail value chain).

According to her, the FirstGem loan with an interest rate of nine per cent per annum was a collateral-free loan available to the bank’s existing and prospective female customers.

She said that based on eligibility customers could access loans from N500,000 to N3,000,000.

She added that FirstGem launched in 2016 had been impactful in driving financial inclusion, influencing women’s empowerment through gender-advancement programmes, financial literacy, wealth management and building an investment portfolio.

FirstGem,she said, is designed specifically to meet the needs of the female gender, aged 18 years and above,adding that the loan was targeted at a broad spectrum of women, working professionals, entrepreneurs or market women through an array of benefits such as free business advisory services.

She enumerated other benefits as access to finance, specialised training on business development initiatives, regular insights on business/investment opportunities and mouth-watering discounts at partner merchant outlets.

Ani-Mumuney urged female owned or partnered SMEs to visit the bank’s website to access the loan via https://www.firstbanknigeria.com/personal/loans/more-financing-options/firstgem-funds/.

SEC Seeks Stakeholders’ Cooperation On Improved Infrastructure

The Securities and Exchange Commission has sought stakeholders cooperation in its desire to help bridge the infrastructure gap in the country.

Director General of the SEC, Mr. Lamido Yuguda,who stated this during a meeting with the new executives of the Chartered Institute of Stockbrokers in Abuja, said the capital market is capable of attracting finance that would aid the nation bridge the current infrastructure deficiency.

He said:”We have huge infrastructural deficit in the country like insufficient power, lack of good roads among others. We want our country to have good infrastructure and I know this is possible with the help of the capital market and other stakeholders. It requires adequate planning and financing and we can achieve it as a nation. The capital market through the private sector can fund road construction while government focuses on other issues”.

According to him, for the capital market to attain full potentials, all stakeholders need to ensure they carry out their functions with integrity and fairness in a bid to restore investor confidence.

He lauded the new leadership of CIS and assured them of the support of the management of the Commission for a successful tenure.

He acknowledged CIS as a key partner in the Commission’s regulation of the market and assured that the SEC would continue to provide the needed support.

He said:”On behalf of the Board and staff. We will give you all possible co-operation you desire to make your job easy.We are here to support this market and make it the market we all desire”.

He stated that derivatives trading has commenced for people who want to manage their risk, adding that the SEC is working to increase the literacy of Nigerians so they can take better decisions.

“The future for this country is bright and we have the young population to push it. We can have a much better standard of living than we have now and we hope you will continue to give a lot to the market.We are committed to any initiative that will further spur the growth of the capital market. We also have a review of the ISA Bill pending at the National Assembly and that bill has a lot that will revitalize this market”he added.

Speaking , President of CIS, Mr. Oluwole Adeosun commended the SEC for the relationship that exists between the Commission and the Institute and thanked the management for always supporting the CIS.

Former President of CIS, Mr. Olatunde Amolegbe thanked the DG for the efforts the Management has been making to support the CIS, adding that the Institute has been able to function effectively due to the support of the SEC.

He assured that the CIS bill which is current before the National Assembly will get to the final ending and assented to, adding that the bill will stand as a testimony of the quality of leadership that the SEC has brought to this market.

Oyo Recruits 500  Amotekun Corps

Oyo State Governor, Engr. Seyi Makinde has approved the recruitment of additional 500 men for the state’s Western Nigeria Security Network (WNSN), otherwise known as Amotekun.

The development  is part of  his administration’s efforts to enhance security of lives in Oyo,he said at a monthly security meeting with local government chairmen, heads of security agencies, traditional rulers and stakeholders in Ibadan.

He said security issue is a collective responsibility therefore all hands must be on deck in order to curtail insecurity facing the country, in which Oyo State was not exempted.

He added:”Security is everyone’s business and if we all play our parts well, we will have a safer and more secured environment, although security of lives and properties is paramount responsibility of government, but government cannot do it alone except with cooperation of the entire citizenry and as we can see from the report gotten all over the country, Oyo State is relatively peaceful, this was not achieved by the effort of government alone but with the efforts of the all stakeholders, most especially the security commanders.

“This meeting is aimed at getting the situation report from various quarters on security as well as to dialogue on what to do as stakeholders and fine tune necessary steps, this  will help government to put necessary machinery in place for people in the state to sleep with their two eyes closed and as the operation of the Amotekun corps is concerned, we have perfected the process of employing 500 more hands to enhance their performance and further deepen the security architecture of our state.”

Makinde urged all stakeholders and the general public to join hands with the present administration in the effort in ensuring peaceful environment.

He commended the security agencies  for their unrelenting support towards making peaceful co-existence among the people and implored them to sustain the tempo witg a view to boosting investments and commercial activities in the state.

Speaking, former Governor of Oyo,Senator Rasheed Ladoja,commended Governor Seyi Makinde for being proactive in the area of security which has  helped the state in creating atmosphere of peace.

8million Nigerian Widows Neglected, Mentally-Ill-Group

The Federation of International Women Lawyers(FIDA) says over 8million widows are suffering from all forms mental torture ,deprivation,discrimination and neglect in the country.

The group disclosed this at a press conference commemorating the International Day of Widows,where it also gave out cash gifts to the neglected widows.

Speaking,FIDA’s chairperson in Ekiti State, Barrister Oyinade Olatunbosun,advocated the need for holistic implementation of the Gender Based Violence Prohibition Laws and other relevant statutes

She implored stakeholders to come together to fashion ways through which widows can be assisted to financially to earn a living .

She emphasized the need for government to implement laws that will prevent stripping of widows of their rights, maintaining that widows’ rights are human rights.

She added: “There are approximately 258m widows globally,out of which Nigeria has a total of 15m with 8m being grossly neglected. The figures keep increasing because of neglect and governments not doing enough to protect their rights.The GBV provides for the protection of the rights of widows and women, which includes prevention of harmful practices for women whose husbands died . We have sufficient laws on ground, what we need now is implementation.

“It is sad to tell you that we have got to some towns where they said widows must suffer after their husbands had died to protect and preserve tradition. All these practices are discriminatory and we are saying no to them”

She appealed to all tiers of government to put in place structures that will engender widow-friendly policies, which will be promulgated and implemented for their social protection.

She added:”The traditional and religious leaders must look after the welfare of widows in their domains and not bug them down with unnecessary traditional or religious rites that will further dehumanize them after the death of their spouses. We say no more to practices of archaic , cultural, depressive and discriminatory practices against widows. In several developing countries, widows are treated as outcasts thereby making life difficult for them.

“Some societies still follow irrational practices like widows drinking the water used in washing the bodies of their late husbands, who often had been embalmed with toxic chemicals, so barbaric and discriminatory since this is never the position when the woman dies”

Buhari Okays Creation Of Nigerian Diaspora Investment Trust Fund

President Muhammadu Buhari has endorsed the establishment of the Nigerian Diaspora Investment Trust Fund,(NDITF). Nigerian Diaspora Investment Trust Fund,(NDITF) is a private sector investment window for Nigerians in the Diaspora to enable them to contribute to direct investments in the country.

Buhari stated this when Hon. Abike Dabiri Erewa, Chairman/CEO led a delegation of management of Nigerians in Diasporan Commission (NIDCOM) to present him a compendium of +600 Diaspora icons published by the Commission .

Buhari noted that the foreign exchange remittances by the Diaspora have helped families and also enhanced development index of Nigeria. He added:”Therefore, Nigeria is open to welcoming the Diaspora Direct Investment by compatriots abroad”,he added.

The 327-page compendium is a reference of how distinguished Nigerians and their contributions to the global community. President Buhari reminded Nigerians that it is their duty to extol and celebrate compatriots that excel in their chosen professions.

Chevron Donates To Ondo Riverine Communities

The NNPC/Chevron venture, in partnership with Ilaje Rural Development Advocacy Initiative Committee (IRDC), has announced the donation of some work tools to residents of riverine communities in Ilaje Local Government Area of Ondo State.

The items included safety equipment, communication gadgets, fishing nets, life jackets, life bouys, fire extinguishers, rain coats, touchlights, headlamps, chairs, tables and public address systems.

IRDC Chairman, Barr. Adeyemi Abiye, while handing over the items to the communities,explained that the effort was geared towards improving the quality of lives of the residents of the riverine communities.

He added  that the gift of the work tools was part of the commitment of NNPC/Chevron and IRDC to enhance fishing activities and safety of fishermen in the riverine communities.

According to him, the chairs and public address systems were meant to improve communication among residents during important meetings in the communities.

He said:“I thank the communities for the support given to my administration so far and I reiterate our commitment to ensure that the communities enjoy maximum benefits from our relationship.These gifts are the commitment of Chevron and IRDC to enhance working condition, safety, communication and generally add value to the quality of lives of residents of riverine communities”

Speaking,Chief Illemobayo Mese, the Baale of Messe community, who spoke on behalf of other communities, thanked the donors for responding to the needs of the communities.

He implored   them to continue to help the communities meet their needs, and pledged the people’s continual efforts towards fostering peaceful coexistence with Chevron Nigeria Limited.

Eaton Advocates FG’s Regulation On Adoption Of SF6 Free Alternatives

A power management company,Eaton Nigeria has advocated government regulation as a measure to curb the use of sulphur hexafluoride (SF6) gas in switchgears used for electrical power distribution.

The company gave the suggestion at the recently concluded Power and Water Nigeria Exhibition and Conference 2022.

During his presentation on the topic ‘A Call to Action on the ‘dirtiest’ greenhouse gas in clean energy’, Charles Iyo, Regional Sales Manager Eaton West Africa said: “Sulphur hexafluoride (SF6) gas which is used in the production of most switchgears remains one of the world’s potent greenhouse gases that adversely affect the environment. 1kg of SF6 is equivalent to 23,500 Kg of CO2 in global warming potential, and each unit of switchgear is estimated to use 2.5 kg of SF6 gas; which makes it devastatingly dangerous to the climate.”

Government in Africa, especially Nigeria,Iyo said,needs to take proactive measures such as implementing new regulations to ban the use of SF6 Gas in switchgear production.

He added:”Also, regulatory bodies and industry stakeholders needs to collaborate and elevate industry practice and policies to implement the use of SF6 free technology thereby creating a safe and sustainable future.”

He highlighted SF6 free alternatives that could positively combat climate change,adding that the adoption of vacuum technology are considered safe, compact, and reliable alternatives to SF6 gas in the production of switchgears.

Eaton has been at the forefront of advocating the elimination of SF6 gas globally. The power management company pioneered SF₆ free medium voltage switchgear production in 1960 with Magnefix, a compact solution for distribution system operators.

Buhari Swears In New CJN Today As Justice Muhammad Quits

 

President Muhammadu Buhari will perform the swearing in Justice Olukayode Ariwoola as the new Chief Justice of Nigeria (CJN) today.

The development was sequel to the resignation of Justice Ibrahim Tanko Muhammad on health ground

Justice Ariwoola is currently the most senior Justice of the Supreme Court.

Born on 22 August 1958, Justice Ariwoola was formerly a Justice of the Court of Appeal and was elevated to the Supreme Court bench.

 

Sahara Group Boosts Environmental Sustainability With Gree’n’Lectric

Sahara Power Group’s says it is seeking environmentally relevant options and solutions in its operations through the recent launch of Gree’n’lectric.

Gree’n’lectric,is a wholly digital publication digital publication dedicated to promoting environmental sustainability in the power sector.

Speaking at the launch of the publication at Egbin Power Plant, Director, Governance and Sustainability, Sahara Group,Ejiro Gray said Sahara Power, a Sahara Group company which connects over 30 million homes to power in the nation, considers access to clean, safe, and reliable energy as critical goals of the organization.

She said:“Gree’n’lectric is one of the vehicles of sharing our journey to green, as we articulate our efforts and plans towards addressing global sustainability concerns. Our business daily impacts and is impacted by natural, social, and human capital interests on which the sustainability of our people and the planet depend. We believe that these interests must be tackled head-on with unwavering accountability and responsibility to provide assurance for a better tomorrow.”

She said Sahara Power’s commitment to protecting the integrity of the environment remained unwavering and generational through the involvement of young students and entrepreneurs in sustainability conversations and interventions.

Israel Anyanwu, a student at Powerfields Group of Schools, Egbin said young Nigerians are increasingly becoming aware of the need to be part of the process of safeguarding the environment.

“We are studying hard to contribute our quota while observing basic practices that helps to protect the environment,” he said.

Gray said Sahara Power was exploring and investing in several renewable energy solutions to boost power generation and distribution mix, in a bid to ensure the company continues to “bring energy to life responsibly”.

She noted that Sahara Power entities, including, Egbin Power Plc, Ikeja Electric and First Independent Power Limited (FIPL) hinge their operations on emission reduction, resource efficiency, business ethics, health and safety, as well as inclusion and diversity.

“With the deployment of electric buggies and scooters, bicycles, and a robust walk-to-work initiative, Egbin Power has reduced the use of fossil fuel vehicles in the facility, cutting off the emission of 670,000kg of CO2 annually. We have also planted over 1000 trees, cut paper consumption, saved 105KWH from reduced printing and continue to digitalise our operations to secure the environment. Ikeja Electric pioneered the first e-billing initiative in the power sector and has safety certifications that reinforce our commitment to sustainability,” she said.

Gree’n’lectric, a bi-annual publication highlights key Sahara Power Group environmental, social and governance milestones. It can be accessed via QR codes and easily shared via several messaging apps on mobile devices.

“As we continue to scale our operations to meet expected global economic expansion and parallel increase in energy demand, sustainability will remain the driver of our operations, with a firm commitment to measuring, monitoring, and communicating our progress to our stakeholders,” Gray added

How MacArthur Foundation Projects Boost COVID -19 Recovery In Nigeria

By Ibrahim Zikirullahi and Armsfree Ajanaku

Although the dreadful Corona Virus outbreak that convulsed the world in 2020 appears to be receding, the devastation it imposed continues to stare governments and citizens in the face. For many Nigerians who found themselves in a state of hysteria and uncertainty, it appears that the worst of what was thought to be a nightmare virus has passed.

Many of the restrictions that were brutally enforced as necessary steps to combat the pandemic have now been substantially relaxed. The voices of pro-nationalist demagogues, who used their powerful political position to attack global cooperation and multilateral action as a sure strategy for containing the pandemic and its consequences, have also vanished.

Nonetheless, despite the current sense of relief, the stark inequalities and injustices exacerbated and precipitated by the pandemic remain. Even though the spate of travel bans, lockdowns and mandatory measures to beat back the pandemic may now be ebbing away, the same cannot be said of the political, economic, cultural and human rights realities imposed by the pandemic.

Even so, the haphazard, incoherent and uncoordinated responses of government at all levels in Nigeria have left many scars which would definitely take some time and the right antidote to heal.

A pertinent point for Nigeria’s civic sector is the need to look back and reflect on how the leading lights of the development sector reacted during those heady days of the pandemic. While some quickly assessed the volatility of the situation and withdrew their assistance, there were those who rightly concluded that what was required was not an exit strategy, but further investments to respond to the devastation caused by the pandemic.

The Chicago-based John D. and Catherine T. MacArthur Foundation certainly deserves full credit for recognizing that more resources would be required to address the deep-seated inequalities in the country, which had been further accentuated by the pandemic.

It was clear that in declining to backtrack on its commitments, the Foundation focused more on the plight of the poor, marginalized and highly vulnerable communities, whose realities had been made worse by the impacts of COVID.

Unlike many other foundations and development agencies, which quickly stopped funding for development assistance, as soon as the COVID began to do its damage, the John D. and Catherine T. MacArthur Foundation was perceptive enough to see the fact that it was a case of true friends helping friends in need.

True to its credo, which is driven by a strong commitment to building a just and verdant world, the Foundation provided technical and financial support to civic organizations in Nigeria in order to implement projects that would respond to the impacts of COVID in marginalized communities. This slew of interventions was dubbed “equitable recovery,” from the impact of COVID or its accentuation of previous inequities.

Equitable recovery also referenced the dire need for disempowered and historically marginalized groups to get the help they so direly need to recover from the challenges precipitated by the pandemic.

The intervention logic was thus to accept that, while the challenge of the pandemic affected everyone generally, there are citizens who fall into the bracket of the most vulnerable, whose livelihoods, civic voice and fundamental rights, have been eviscerated to the point of no return.

Providing the justification for its bold move to engage rather than retreat in the face of the devastation caused by the pandemic, the Foundation noted that creating more resilient, inclusive communities to combat structural racism, inequality, and the health crisis itself was central in its calculations.

As such, it noted that “the global COVID-19 pandemic has exposed deep racial and socioeconomic disparities and inequalities that take a disproportionate toll on Black, Indigenous, Latin, and Asian people.

“In this context, we identified an opportunity to improve the critical systems that individuals and communities need to thrive. We issued $125 million in social bonds to fund a one-time set of grants that support an equitable recovery by addressing the twin pandemics of COVID-19 and structural racism.” It is also worth noting that the Foundation’s strong interest in empowering marginalized citizens influenced the design and intrinsic character of the projects it approved for implementation.

One of the most important aspects of the work is assisting the Original Inhabitants (OIs) in the Federal Capital Territory (FCT). This aspect of the intervention aims to address the long-standing injustices and marginalization faced by the peaceful and hospitable indigenes of Abuja, whose lands were taken over by decree to make way for the Nigerian capital.

The project, led by the Resource Centre for Human Rights and Civic Education (CHRICED), has focused on strengthening organizational capacity and amplifying the voices of these neglected Nigerians.

To ensure that the needs of the most marginalized Original Inhabitants, such as youth, women, persons with disabilities (PWDs), and the unemployed are not overlooked, a number of the sub-grants awarded by CHRICED is focused on ensuring the participation of FCT Original Inhabitants in diverse economic sectors.

As of now, a total of 10 Original Inhabitants organizations are being supported with grants, as well as organizational capacity development assistance to enable them carry on effective advocacies to draw attention to the most pressing issues, including governance and service delivery challenges they face.

The organizations are; Abuja Original Inhabitants Youth Empowerment Organization (AOIYEO), Abiodun Essiet Initiative for Girls (AEIG), Association of Wives of FCT Traditional Rulers (AWTR), Centre for Environmental Sustainability and Development Awareness (CESDA), Centre for Transparency Advocacy (CTA), Helpline Foundation for the Needy, Socio Economic Research and Development Centre (SERDEC), the HipCity Innovation, Mairo Women Foundation Ushafa, and the FCT Original Inhabitants with Disabilities Multi-Purpose Cooperative Society.

The project on promoting the rights of the original inhabitants in the Federal Capital Territory has also ensured that the interests of the most vulnerable citizens, including people living with disabilities, are incorporated into the intervention. In terms of promoting the cultural rights of the Original Inhabitants in the FCT, the project has placed a strong emphasis on the cultural treasures and repositories of the people.

About a year into the project’s implementation, there is an ongoing cultural revival in the FCT, with growing interest in pottery. Pot making is an economic activity, which has huge comparative advantage for the Original Inhabitants in the FCT because it is a craft that they have a natural flair for.

Ladi Kwali, by the way, is one of the most recognized cultural figures in the FCT. Her fame stemmed from her enormous contributions, which put her community on the map through her exceptional pot-making skills. It’s no surprise that hundreds of young FCT original inhabitants have embraced pottery as a means of overcoming unemployment and contributing to the revival of their culture through the ongoing project.

Similarly, the Usafa Pottery Centre in Bwari, on the outskirts of the FCT, is rediscovering its role as a centre for pot making and other cultural activities. The space has aided economic empowerment and cultural awareness, particularly among women, youth, and PWD.

Other cultural treasures that have benefited from the project include the Asumbo cloth making craft, which is also being used as a basis for livelihood opportunities for youth and women in the FCT.

On the other hand, the Project of Promoting the Rights of Original Inhabitants in the FCT has focused on some of the most pressing human rights issues that are central to the welfare and well-being of the poor and vulnerable residents in the FCT. One of such emergencies is sexual and gender based violence.

According to UN Women, gender-based violence, which was already a global crisis before the pandemic, intensified at the height of the disruptions imposed by COVID. At the height of the pandemic, UN Women warned that “lockdowns and other mobility restrictions have trapped many women with their abusers, isolating them from social contact and support networks.”

It was also noted that increased economic insecurity has made it even more difficult for many women to leave abusive situations.

UN Women said: “COVID-driven economic and social instability will also increase the risk of child marriage, female genital mutilation and human trafficking. At the same time, the pandemic has exposed women leaders to backlash, resulting in online and offline threats, abuse and harassment. Violence against women leaders, regardless of position, can prevent them from carrying out their responsibilities.”

These realities also influenced the design of the project of Promoting the Rights of Original Inhabitants in the FCT, as part of the initiatives making up the MacArthur Foundation’s Equitable Recovery Cohort.

As a direct response to the observed increase in sexual and gender based violence cases during the pandemic’s peak, five women-led organizations have been awarded sub-grants and are currently implementing projects with various components addressing sexual and gender based violence.

Some of these organizations are tackling gender inequities from the purview of strengthening traditional justice systems, sensitizing women and girls, supporting government shelters, and providing women and young girls with livelihood opportunities.

Apart from the projects mentioned above, which are being implemented to address the decades-long marginalization of Original Inhabitants in the FCT, the MacArthur Equitable Recovery portfolio includes interventions in areas such as police reform, youth participation and vaccine confidence.

Nearly two years after the #ENDSARS protests, which convulsed the country in October 2020, the fundamental issue of how to reform and birth a citizen-friendly policing system has been the central focus of the police reform initiative of the Equitable Recovery.

CLEEN Foundation is implementing this aspect of the work with the goal of establishing a rights-respecting policing environment consistent with democratic values.

According to the project team, some of the major changes that have occurred as a result of the intervention include the establishment of a civil society led observatory on police reform for holding police officers accountable for their actions and inactions, an improved institutional posture for accountability through the Complaints Response Unit (CRU), which published its 2021 annual report and ensured disciplinary actions were taken.

The project has similarly documented what it described as conscious efforts by the executive branch of government to implement the #ENDSARS Five for Five demands, which were made in the aftermath of the protests.

Also connected to the aftermath of the #ENDSARS protests and an important part of the equitable recovery portfolio is the Nigeria Youth Futures Fund project, which has the goal of strengthening, supporting young people in youth leadership, active citizenship and social change.

The project, spearheaded by LEAP Africa and partners such as the Centre for Journalism Innovation and Development (CIJD), the Nigeria Youth Futures Fund (NYFF), and Organizing for a New Nigeria (OON), is also focused on engaging the youth through outcome-driven policy engagement and inclusive resourcing, allowing young people to shape national development.

So far, the project’s implementation has resulted in the voter registration of thousands of young people, as well as the funding of 50 youth-focused leadership projects across the country. According to project data, 341 tertiary institutions in Nigeria have received campaign messages and outreaches.

The last of the equitable recovery projects focuses on Vaccine Confidence; anchored by the Centre for Democracy and Development (CDD), the goal is to increase public confidence in the COVID 19 Vaccine and combat misinformation with accurate scientific data. So far the project has facilitated the development of accountability scorecards for the COVID-19 administration process.

It has also promoted mass campus vaccination drives in tertiary institutions. Part of the challenge encountered in the implementation of this project is the level of complacency among the Nigerian populace as a result of the relaxed disposition toward protocols and lax attitude to the dangers posed by COVID.

….Zikirullahi, is the Executive Director and Ajanaku, Programs & Communications Manager at the Resource Centre for Human Rights & Civic Education (CHRICED).