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IWD: NASME Commends Unity Bank for Supporting Women-Owned Enterprises

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Unity Bank has received commendations for its commitment to women empowerment at the National Association of Small and Medium Enterprises, NASME’s International Women’s Day, IWD celebrations held in Alausa, Lagos recently to push the frontiers of sustainable and inclusive development in Nigeria.

The National Deputy President of NASME, Otunba Gbemisola Oduntan gave the commendation while addressing participants at the event. She said the partnership with Unity Bank enabled NASME to roll out an engagement programme for women entrepreneurs in commemoration of the IWD, adding that the programme specifically targeted those in MSME sectors and provided a platform for corporate partners to join collaborative initiatives that will impact positively on the businesses of individual members of NASME in Lagos.

Delivering a keynote, the Managing Director/Chief Executive Officer of Unity Bank, Mrs. Oluwatomi Somefun, who was the Chairman of the occasion said Unity Bank Plc would continue to support pioneering efforts with genuine intent on inclusivity, removing biases and unlearning stereotypes, even as the Bank continues to introduce innovative banking solutions that support and empower Micro, Small and Medium Enterprises, MSMEs operated by women in Nigeria.

According to Somefun, Nigerian women continue to play a pivotal role in driving the growth of the Nigerian economy through their overwhelming involvement in economic activities as major operators of MSMEs in Nigeria as they account for 41 per cent of MSMEs in the country.

Referencing the Bank’s latest retail solution, Yanga Account, which is targeted at women-owned MSMEs, Somefun reiterated the Bank’s commitment to introducing innovative products and services that support and unlock the true potentials of Nigerian women entrepreneurs.

Represented by Head, Personal and SME Banking, Dr. Opeyemi Ojesina, Somefun said the bank’s quest to grow retail segment “has enabled us to pay extra attention to women-led businesses more than any other financial services provider in Nigeria”.

She said: “Just recently, we launched the Yanga account, which is a new retail product designed to deepen beneficial impact on Micro, Small and Medium Enterprises, MSMEs operated by women in the mass market retail space. The Yanga account targets businesses of women mainly in farmers’ cooperatives, fashion design, tailoring, frozen food, pastry and baking, cosmetics, jewellery designs and making, skincare, eateries and restaurants, etc. living in the communities or cities.”

She explained, “The Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women. It is about making sure that our women who make up 55% of the financially excluded Nigerians have access to basic and life-changing financial services.”

She added, “The Yanga account will also be incorporating an affordable Health insurance scheme not only as a part of the product bouquet underpinning the Bank’s belief in health and wellness which translate to wealth creation but also to drive insurance penetration which is presently at 2% in Nigeria. We, therefore, believe that this will provide essential ingredients to growing a business as well as adding greater value for Yanga account holders.”

Over 200 women and members of NASME participated in the NASME IWD engagement programme featuring exhibitions of various businesses and it was, therefore, a platform for the Bank to on-board participants onto the Yanga Account Experience.

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Setback for Peter Obi, Others As Court Orders Deregistration of NDC

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A Federal High Court in Lokoja has set aside an earlier judgment that compelled the Independent National Electoral Commission (INEC) to register the Nigeria Democratic Congress (NDC) as a political party.

The latest ruling by the presiding judge, Justice Isah Dashen comes days after a Federal High Court in Abuja ordered INEC to register the Citizens Democratic Alliance (CDA) as a political party.

Justice Obiora Egwuatu, who presided over the Abuja case, had directed INEC to issue the party with a certificate of registration within seven days after ruling in a suit filed by Tamunotonye Samuel Solomon Inioribo and two others.

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Don’t Vote for Me If I Fail to Fix Power Comment: Onanuga Claims Tinubu Was Quoted Out of Context

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Special Adviser to President Bola Tinubu on Media and Publicity, Bayo Onanuga, has described as ‘out of context’ the assertion that President Bola Tinubu told Nigerians he would not seek re-election if he failed to provide constant power supply for the citizens.

Onanuga dismissed the claims which have recently resurfaced in many circles, and explained that the statement credited to the president was conditional, and not an outright pledge.

Onanuga spoke during an interview on Arise News on Tuesday, where he further insisted that the President’s remarks on power sector reforms had been misrepresented, as it was not an outright pledge to forgo a second term.

Reports had quoted Tinubu during a business luncheon in December 2022 ahead of the 2023 presidential election, to have said: “If I don’t give you constant electricity for four years, when I come back for a second term, don’t vote for me.”

But the presidential aide argued that critics often quote only a portion of the President’s remarks while ignoring the context in which they were made.

Asked whether the President had promised not to seek re-election if the electricity supply did not improve dramatically, Onanuga said: “That is not exactly what he said. He said he will give Nigerians power. I’m paraphrasing now. He said he will also will end the area of estimated billing. A problem that he has largely solved because it should not be his business, but his government is producing meters, asking the DISCOS to give people meters free of charge.

“And he said, if by any chance he has reasons not to give Nigerians adequate power, then they should understand the problem that he inherited.”

When he was told that the President said he should not be reelected if the electricity supply did not improve, Onanuga said, “He didn’t say that way. Let me see if I can open my phone and tell exactly what he said.”

Onanuga argued that Tinubu had demonstrated commitment to power sector reforms since assuming office, citing the signing of the Electricity Act as one of the administration’s major achievements.

“The first thing he did when he came to office was sign the Electricity Act, which enables states to generate power, transmit power and distribute power,” he said.

The presidential spokesman noted that the legislation has opened up the electricity sector and encouraged competition, with several states already taking advantage of the opportunities created by the law.

“That is a good thing. Some of the states are taking advantage of that, and more are going to do so. That will make the electricity sector open and competitive,” he added.

The presidential spokesman also pointed to efforts by the administration to address the metering gap across the country, saying the government had intervened to ensure more Nigerians receive meters free of charge.

“He also learnt the error of estimated billing, a problem that his government is largely solving because the government is producing meters and asking distribution companies to give people free of charge,” Onanuga said.

While acknowledging that electricity supply has yet to reach the level envisioned by the President, Onanuga attributed the challenge to long-standing structural problems in the sector.

“We are not at the level that the President meant it. I can tell you that,” he said.

He explained that although Nigeria has an installed generation capacity of about 13,500 megawatts, constraints such as gas shortages, legacy debts and weak transmission infrastructure have limited performance.

“What people don’t know is that we already have an installed capacity of 13,500 megawatts. What are the problems? No gas. The players in the sector owe the gas companies legacy debts of over four trillion naira,” he said.

According to Onanuga, the Tinubu administration is working to resolve these issues while pursuing reforms aimed at improving generation and transmission capacity.

“The transmission grid is outdated, but that is part of the reforms that need to be put in place,” he said.

He added that the government was exploring additional initiatives to optimise existing power assets and improve electricity delivery across the country.

Onanuga maintained that despite the challenges, the administration remains committed to delivering on its promise of improving electricity supply and strengthening the nation’s power sector.

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Alleged Coup: Court Orders DSS to Probe VDM over Leaked Trial Video

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The Federal High Court in Abuja, on Tuesday, ordered an investigation into an alleged leaked video which has stirred controversy in the trial of five suspects charged with being part of last year’s failed plot to topple President Bola Tinubu’s administration.

Judge Joyce Abdulmalik made the order following claims by prosecution lawyer Rotimi Oyedepo (SAN), who is the Director of Public Prosecution (DPP), that the video recording of one of the defendant’s statements had appeared on social media, contrary to an earlier court order.

He said he watched the video on the page of social media influencer Martins Vincent Otse, popularly known as VeryDarkMan (VDM).

He described the development as a national security issue. “We tendered the video recording and served it on the defence. I know I served my colleagues,” he said.

Continuing, Oyedepo argued that the development was extremely prejudicial and disturbing. He noted that the social media post had attracted more than 6,000 views.

He argued that since there is a law protecting witnesses, the court should direct an investigation into the matter.

“What I saw yesterday is quite disturbing. I urge your lordship to investigate this video and confirm whether it is the same video before the court and whether it contravenes your lordship’s order,” he said.

He also informed the court that VDM was present in court to perhaps tell the court how he got the video.

Reacting to the claim, all the defence lawyers took turns to deny knowledge of how the video leaked into the social media space.

“Our worry is that this is coming at the stage when we are trying to move our bail application. I am not even a social media person. I am not opposed to an investigation,” the lawyer to the first defendant, Muhammed Ndayako, a SAN, said.

Apart from their denial, some of the defence lawyers, including that of the fourth defendant, C.D. Okafor, urged the court to investigate members of the media who have been covering the proceedings.

While not opposing the probe, the fifth defendant, M.A Ibrahim, expressed doubts about the prospect of such investigation. The lawyer to the sixth defendant, Sanusi Musa (SAN), objected to any investigation.

“I am surprised that the DPP said the court should investigate this matter. Secondly, who are the suspects? The video might have been leaked from the court, it might be me, it might even be the DPP or from the Ministry of Justice.”

“Whatever the DPP said here cannot be acted upon without evidence. If he wants that, he should file an application. The EFCC also has a media department.

“My lord, while I thank God that I am not the one, I object to the suggestion that the matter be investigated,” he said.

Ruling on the issue, who the judge did not acknowledge that Very Dark Man was in court, affirmed the court’s power to direct the protection of witnesses.

She noted that Section 232(5) of the Administration of Criminal Justice Act 2015 provides for the protection of vulnerable witnesses and prescribes consequences for any breach of witness protection measures or court orders made under that section.

Subsequently, Abdulmalik ordered the SSS to investigate any evidence on social media that may have “contravened the court’s earlier orders and bring any culprit before the court.”

She added that if such suspects are brought, the matter will be a “distinct case” while the current matter continues separately.

The six defendants charged in the case include a retired major general, Mohammed Ibrahim Gana, and a retired navy captain, Erasmus Ochegobia Victor.

The rest are Ahmed Ibrahim, a police inspector; and Zekeri Umoru, an electrician at the Presidential Villa; Bukar Kashim Goni and Abdulkadir Sani, a Zaria-based Islamic cleric.

They were accused of being part of a conspiracy to topple President Tinubu’s government. Information about the alleged secret plot was leaked to the authorities last September, leading to the arrest of serving and retired military officers alongside their alleged civilian conspirators.

The six men charged before the Federal High Court in Abuja face 13 counts of treason, terrorism, failure to disclose information, and money laundering over the alleged failed coup.

Since the trial began, the prosecution has called four witnesses.

The fourth prosecution witness, an army officer identified by the codename AAA for security reasons, has yet to be discharged. The prosecution witness brought video recordings of the defendants’ interrogations to court as exhibits.

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