N2m loan offer opens for young entrepreneurs

The Federal Government has unveiled a new loan scheme that will provide eligible young entrepreneurs with between N200,000 and N2 million to start, sustain and expand their businesses.

The loan scheme is a part of efforts to enable young business owners to improve access to finance and stimulate economic growth.

The initiative, called YOUTHCRED for Entrepreneurs, was launched yesterday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

The programme, implemented by the Nigerian Consumer Credit Corporation (CREDICORP), is expected to benefit more than 500,000 young entrepreneurs across the country.

Oyedele said the scheme was designed to address the financing challenges faced by many young business owners who are unable to access conventional bank loans due to the lack of collateral, audited financial records or formal business registration.

The minister explained that Nigerians aged 18 to 35 can access loans ranging from N200,000 to N2 million through regulated financial institutions, with eligibility based on responsible credit behaviour, cash flow and repayment capacity rather than inherited wealth or collateral.

According to him, the programme underscores the Federal Government’s commitment to building an inclusive economy by supporting young entrepreneurs with the financial resources needed to transform innovative ideas into thriving businesses.

He said expanding access to affordable credit would promote innovation, create jobs and strengthen Nigeria’s micro, small and medium-sized enterprises (MSMEs), noting that more than 90 per cent of the country’s MSMEs are micro-enterprises operated by individuals.

Oyedele urged beneficiaries to treat the facility as a repayable loan rather than a government grant, stressing that prompt repayment would ensure the sustainability of the programme and allow more young entrepreneurs to benefit. He added that responsible use of the credit facility would foster financial discipline and strengthen confidence in Nigeria’s consumer credit system.

In separate goodwill messages, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu; the Minister of Youth Development, Ayodele Olawande; and the Minister of Women Affairs, Imaan Sulaiman-Ibrahim, described the initiative as a significant step towards empowering young Nigerians, expanding financial inclusion and supporting inclusive economic growth.

They praised the administration’s efforts to improve access to consumer credit and digital tools, saying the programme aligns with the government’s broader agenda of promoting entrepreneurship, productivity and skills development.

Also, the Managing Director and Chief Executive Officer of CREDICORP, Uzoma Nwagba, said the corporation had facilitated more than N47 billion in consumer credit for over 301,000 Nigerians in the past two years, while maintaining a zero per cent non-performing loan rate.

Nwagba said the entrepreneurs’ scheme represents the third phase of the YOUTHCRED programme, following earlier phases targeted at National Youth Service Corps (NYSC) members and employed youths.

He stated that CREDICORP aims to expand the programme to reach 500,000 beneficiaries in the current phase and eventually one million Nigerians before the end of the year.

‘Hardworking young Nigerians deserve structured credit, not charity,’ Nwagba said.

He added that the scheme was designed to support individual entrepreneurs while promoting repayment discipline and sustainable business growth.

Globe Legislators: Nigeria making progress under Tinubu

History seldom reveals its defining moments through spectacle. But, more often than not, it advances quietly within the distinguished chambers where nations negotiate priorities and influence is exercised through credibility rather than applause.

Of course, that is also where the confidence of the international community was earned based on over years of consistent public service.

Those truisms resonated recently inside the historic Churchill Room of the House of Commons, UK Parliament, London, precisely on Wednesday, June 24, 2026, when Rt. Hon. Sir Sam Onuigbo was formally inaugurated as the President of GLOBE Legislators.

To many, it was an inauguration, but many who understood the weight of the institution and the calibre of those gathered, saw the event as something considerably greater: It depicted the transfer of global confidence to a Nigerian legislator, whose steady commitment to climate leadership graduated into international responsibility.

Globe, which Globe?

In 1991 when it was founded, the Global Legislators Organisation for a Balanced Environment (GLOBE), was programmed to serve as a non-partisan, cross-party parliamentary organization aimed at improving governance for sustainable development.

So, in the last thirty-five years, GLOBE Legislators has stood at the intersection of legislation, diplomacy, and climate governance. GLOBE has been bringing together parliamentarians from across continents to shape the legal and policy architecture that increasingly determines the sustainable development of nations.

Consequently, the organisation’s 35th anniversary celebration was more than a ceremonial reflection on its past, but rather an affirmation of its eventful future. Interestingly, that bold future now bears a distinctly Nigerian imprint.

The significance of that historic occasion was amplified by the remarkable constellation of global figures, whose messages and presence reflected the esteem in which both the institution and its new President are held. The former US Vice-President, Al Gore, in his remarks at the occasion reminded legislators that political will remains humanity’s greatest renewable resource.

Senator Al Gore, who is one of the founding fathers of the organisation, emphasised that while science has shown the pathway forward, only courageous legislative leadership can transform ambition into lasting climate actions.

He therefore, implored parliamentarians across the world to recognize that history rewards leaders who act decisively when the evidence is clear, even as he described climate leadership as one of the defining responsibilities of this generation.

The Deputy Speaker of House of Representatives, Benjamin Kalu, extolled Rt. Hon. Sir Sam Onuigbo’s emergence as the new President of GLOBE Legislators as a moment of national pride. ‘Rt. Hon Onuigbo’s election is a testament to Nigeria’s growing influence within global climate diplomacy. Nigeria’s Parliament remains committed to supporting climate-responsive legislation capable of advancing sustainable development, while strengthening Africa’s voice within international policy discussions,’ the Deputy Speaker noted.

There was no doubt that the defining feature of the event was Rt. Hon. Sir Sam Onuigbo’s emergence and the philosophy he brought to the office.

Onuigbo reaffirmed Nigeria’s and Africa’s unwavering commitment to sustained global cooperation in confronting the climate crisis.

He assured the international community that Nigeria and the African continent would continue to align with global protocols on climate change mitigation, environmental sustainability and the transition towards clean energy.

The new GLOBE President maintained that the complexity of contemporary climate challenges demands collaboration built on shared responsibility rather than isolated national action. He expressed confidence that Africa would remain an active partner in advancing the collective global climate agenda.

Onuigbo also drew attention to the principle of intergenerational equity, stressing that lasting environmental progress depends upon investing in people as much as in policy. He advocated the promotion of climate literacy, environmental stewardship and youth engagement, arguing that future generations must be equipped with the knowledge, values and leadership capacity required to confront emerging environmental realities. For him, sustainable development would only be secured when today’s legislative decisions intentionally prepare tomorrow’s leaders to safeguard the planet.

As the sponsor of Nigeria’s landmark Climate Change Act 2021, Onuigbo called for deeper parliamentary engagement across national boundaries, and tasked legislators worldwide to strengthen cooperation in shaping, implementing and overseeing climate policies capable of translating international commitments into practical national outcomes.

Drawing from his distinguished legislative experience as a two-term federal lawmaker, the new GLOBE President declared: ‘Effective legislation remains one of the most enduring instruments for ensuring accountability, accelerating climate action and delivering measurable environmental progress.’

Earlier at the Nigeria Climate Investment Summit held at the historic Mansion House, London, Onuigbo issued a compelling invitation to global investors to participate in Nigeria’s rapidly expanding green economy.

He argued that investment in Nigeria should no longer be viewed simply as participation within a single national market, but as a strategic gateway into Africa’s broader green economy, positioning the country as one of the continent’s most significant entry points for sustainable investment, innovation and long-term economic growth.

Onuigbo drew international attention to the African Continental Free Trade Area (AfCFTA), describing Africa not merely as a continent confronting climate challenges, but as a market of extraordinary strategic value.

His words: ‘With over 1.3 billion people and a combined Gross Domestic Product exceeding 3.4 trillion United States dollars, the continent presents one of the largest integrated economic spaces in the world.

‘Climate investment in Nigeria should no longer be viewed as an isolated national undertaking, but as a gateway into an expanding continental marketplace whose future will increasingly shape global economic growth.’

The evening projected an unmistakable consensus that the global climate conversation was entering a consequential new phase. Echoing that sentiment was Rt. Hon. Graham Stuart MP, former United Kingdom Minister for Energy Security and Net Zero, and former President of GLOBE Legislators, who hosted the event, as he welcomed delegates to the UK Parliament.

He stressed that effective climate governance can only succeed through sustained international parliamentary collaboration, just as he noted that institutions such as GLOBE Legislators, provide legislators with the platform to transform political dialogue into Acts of Parliament and practical policies capable of accelerating the global transition towards cleaner, more resilient economies.

For his part, Kamal Kishore, the Special Representative of the United Nations Office for Disaster Risk Reduction (UNDRR), disaster risk reduction must become an integral component of national development planning rather than a reactive response to emergencies. He, therefore, encouraged legislators to enact laws that strengthen resilience, protect vulnerable communities and ensure that climate adaptation remains central to long-term economic planning.

Earlier in his goodwill message, Nick Mabey OBE, Founder and Chair of London Climate Action Week and CEO of E3G, observed that climate challenge is no longer defined by a shortage of solutions but by the speed and scale of political implementation.

He urged legislators to create stable policy environments capable of attracting investment, accelerating innovation and fostering stronger international cooperation in pursuit of global climate objectives. This is just as Pablo Vieira, Global Director of the NDC Partnership, reaffirmed the importance of strengthening partnerships between governments, financial institutions and development organisations to unlock greater climate investment.

‘Nationally Determined Contributions (NDCs),’ Vieira stated, ‘are practical instruments capable of connecting ambitious climate policies with measurable economic opportunities, particularly across emerging economies.’

Governor of Tokyo and former President of GLOBE Japan, Yuriko Koike, who has a longstanding association with GLOBE, underscored the enduring importance of international cooperation.

She encouraged the international parliamentarians to continue building bridges across political and geographical boundaries, even as she drew upon Tokyo’s own experience in advancing environmental sustainability. According to Koike, the importance of innovation, local leadership and legislative consistency in delivering meaningful climate progress cannot be overemphasized.

She maintained that collectively, they represented decades of legislative experience, policy innovation and environmental advocacy. Their presence transformed the inauguration into more than a celebration of one individual; it became an endorsement of the quality of leadership now entrusted with guiding one of the world’s foremost parliamentary climate institutions.

In the last analysis, the general impression among delegates is Rt. Hon. Sir Sam Onuigbo’s inauguration as the Sixth President of GLOBE Legislators, represents something larger than the elevation of an individual. Rather, it came as a bold confirmation that Nigerian leadership, when anchored in vision, credibility and sustained public service based on integrity, and transparency, can command the confidence of the world.

Further, it is evident that influence earned through substance remains more enduring than that gotten through circumstance. At any event, Rt. Hon. Sir Sam Onuigbo’s emergence on the global stage comes as the culmination of a distinguished public service career defined by visionary leadership, integrity, transparency, legislative excellence, and an unwavering commitment to human development.

For instance, in 1998, Onuigbo began his gradual but upward movement in leadership by constructing a block of classrooms at his alma mater-Community Primary School, Obuohia Obi-Ibere, Ikwuano, Abia State, for a conducive learning environment He further exercised admirable leadership by establishing the Ambassador’s College, Obuohia-Ibere to end the suffering of secondary students who had to trek 12 kilometres every school day to access secondary education. That noble intervention ended decades of suffering by students from the community, by creating easy access to secondary education.

As the representative of the Ikwuano/Umuahia North and Umuahia South Federal Constituency in the National Assembly, he earned a reputation as a people-focused lawmaker whose interventions extended far beyond legislation. By sponsoring Nigeria’s landmark Climate Change Act 2021, which established Nigeria’s first comprehensive legal framework for climate governance, he set the stage for his eventual emergence as leader of the international body on climate governance.

Of course, he excelled, as the Supervisory Fraud Prevention Specialist at the US Embassy, where he worked for 18 years, before resigning to join partisan politics. In 2023, the New York-based Business Insider recognised him as one of the Top 30 Global Leaders in climate action. Onuigbo was also honoured as one of the five persons out of 469 federal lawmakers inducted into the National Assembly’s Most Valuable Parliamentarian Hall of Fame for the Class of 2019-2023.

In the final analysis, the current office that Rt. Hon. Sir Sam Onuigbo occupies does not come as merely a distinction of title, but a global mandate propelled by confidence, integrity, a responsibility shaped by decades of commitment and a reminder that when one Nigerian rises through excellence, the nation’s voice rises with him.

At his London investiture, history did not simply witness the inauguration of a President, it acknowledged the emergence of a statesman, whose accumulated leadership experience now carries implications far beyond the walls of Parliament. Reaching from the highest tables of international diplomacy to the aspirations of ordinary Nigerians, Africans, and indeed, the world, whose future remains inseparably linked to the decisions shaping our changing world.

AG opposes request to halt Yoshitha’s money laundering case

The Attorney General’s Department yesterday opposed a request made by lawyers for former President Mahinda Rajapaksa’s son Yoshitha Rajapaksa seeking an order to prevent the hearing of a money laundering case filed against him in the Colombo High Court.

The objection was raised before the Supreme Court when Rajapaksa’s appeal was taken up for consideration.

Appearing on behalf of the Attorney General, Deputy Solicitor General Janaka Bandara strongly opposed the request, arguing against halting proceedings under the Prevention of Money Laundering Act.

U.S.-based cleric urges youths to utilise talents

A United States-based cleric, Pastor Tola Odutola of Jesus House, Baltimore, has advised Nigerian youths to stop relying on the government for employment.

He said they should instead focus on discovering and developing their talents to create sustainable livelihoods.

Speaking on the sidelines of an empowerment seminar with the theme: ‘Maximising Your Potential’, in Ibadan, Oyo State, Odutola said individuals must identify their natural gifts and nurture them into impactful solutions for the society.

He added: ‘Where we start first is to ask yourself: what gift do I have? What is that thing that inspires me? Every greatness in life starts with a seed.’ The cleric urged youths to cultivate their abilities so they could transition from job seekers to self-reliant problem solvers.

He enjoined them to maintain self-belief, noting personal determination outweighed any environmental limitation.

Recalling his upbringing in Oke-Bola area of Ibadan, Odutola challenged youths not to let lack of parental or societal support hinder their progress.

‘I grew up in this same environment and went to school here. I wasn’t waiting for a father figure to pave the way. You have to struggle and push because you owe yourself the responsibility to succeed,’ he said.

The clergyman cautioned Nigerians against over-dependence on state support, noting that the world’s most vibrant economies were driven by individual entrepreneurs, rather than government interventions. Acknowledging that the state holds the responsibility of creating an enabling environment, he stressed that the primary drive must come from the citizens.

Highlighting the need for career flexibility, the cleric says many university graduates eventually find fulfilment and financial stability outside their formal fields of study.

He said the empowerment initiative was designed to hand-hold aspiring entrepreneurs and provide support to help them launch their visions.

Peso dips as oil prices rise on reignited war

THE Philippine peso slumped anew to a record low of P61.75 against the dollar on Wednesday on the back of a re-escalation of tensions between the United States and Iran which led to elevated crude oil prices.

Data from the Bankers Association of the Philippines (BAP) showed this rate is .5 or half-a-centavo weaker than its previous finish of P61.745 against the greenback on Tuesday.

The P61.75 per-dollar level was last seen on May 18 and 19 of this year, BAP data also noted.

Jonathan L. Ravelas, senior adviser at Reyes Tacandong and Co. explained that the peso fell after the greenback strengthened further on elevated crude oil prices as US and Iranian attacks escalated, renewing inflation concerns.

As such, the foreign exchange analyst said he expects the currency to range 61.60-61.90 levels in the near-term.

For his part, Michael L. Ricafort, chief economist at the Rizal Commercial Banking Corporation (RCBC), said the peso-dollar exchange rate lingered at 61.75 after global crude oil prices posted new one-month highs lately.

‘Global crude oil prices posted new 1-month highs lately. Brent crude oil price was higher at US$92 per barrel levels [vs. US$88 since late last week], the highest since June 11, 2026, but still among 4-month lows,’ added Ricafort.

For his part, John Paolo R. Rivera, Senior Research Fellow at Philippine Institute for Development Studies (PIDS) said this ‘largely reflects external factors, particularly the stronger US dollar, expectations of higher US interest rates, and heightened global uncertainty.’

While a weaker peso raises the cost of imports and may add to inflationary pressures, Rivera said it also benefits remittances and exports.

As such, he pointed out: ‘We should focus less on a single record-low level and more on whether the depreciation becomes prolonged and disorderly.’

‘The country’s solid external buffers including ample international reserves and steady foreign exchange inflows from remittances, tourism, and the IT-BPM sector should help cushion excessive volatility,’ added Rivera.

Last week, BMI, a Fitch Solutions unit, said it expects the Philippine peso to remain under pressure in the coming months and trade within a P61-P63 against the dollar range.

‘A renewed escalation in the US-Iran conflict, US dollar firmness and seasonal peak in import demand will weigh on the peso in the near term,’ added BMI.

Within the trading session, the local currency’s strongest level was at P61.73 against the dollar while its weakest was at P61.75 against the greenback.

JAMAICA-CRIME- Child protection agency horrified by rape and murder of 10 year old girl

Jamaica’s Child Protection and Family Services Agency (CPFSA) says it is ‘horrified and deeply saddened’ by the rape and murder of a 10-year-old girl whose body was found along a dirt track in the northern parish of Trelawny earlier this week.

The child has been identified as Shani Coke, also known as ‘Kaja.’

The agency said the tragedy is another painful reminder that too many Jamaican children continue to be victims of horrific violence at the hands of adults who should be protecting them.

‘Every child has the right to grow up in a safe, nurturing environment where they are protected, valued and given the opportunity to realise their full potential,’ the CPFSA said.

Chief Executive Officer Laurette Adams-Thomas expressed condolences to Shani’s family and the wider Troy community, saying the agency is mourning alongside them.

‘Each time a child is abused or murdered, our society has failed,’ Adams-Thomas said.

According to police, Shani was walking home from a nearby shop shortly after midday on Tuesday when she was abducted. Her body was later discovered by a farmer searching for one of his cows after hearing unusual sounds coming from nearby bushes.

Following the discovery, an angry mob attacked a father and son after accusing the son of raping and killing the child. Police said the son was beaten, chopped and stoned to death, while his father was also assaulted and remains hospitalized.

Adams-Thomas condemned the mob killing, saying ‘jungle justice’ is not an appropriate response.

She said CPFSA first responders are in the community assessing whether other children connected to the family require immediate protection and evaluating the psychosocial needs of the victim’s relatives. The agency said it stands ready to provide support and continues to work closely with the Jamaica Constabulary Force as investigations continue.

The CPFSA is urging anyone with information that could assist the investigation to cooperate with the police.

BBNaija S11: 10 things to know ahead of Sunday’s premiere

The countdown has officially begun as Big Brother Naija Season 11 gets set to premiere on Sunday, promising another exciting season packed with entertainment, drama, unexpected twists, and fierce competition.

With a record-breaking cash prize, a brand-new set of housemates, and weeks of nonstop entertainment on the horizon, BBNaija Season 11 is shaping up to be one of the biggest reality TV events of the year.

As the doors to the Big Brother house open this Sunday, fans can expect unforgettable moments, emotional stories, strategic gameplay, and plenty of surprises that will keep them glued to their screens until the season finale.

Here are the key things to know ahead of the launch date:

1. Premiere date

BBNaija Season 11 will officially premiere on Sunday, July 26, 2026, with viewers getting their first look at the new housemates who will battle for this season’s grand prize.

2. Launch time

The live launch show is scheduled to begin at 7:00 p.m. (WAT). Fans are advised to tune in early to catch the grand introduction of all the contestants.

3. Where to watch

The show will be available on:

DStv Channel 198 (24/7 live broadcast)

GOtv Channel 49(24/7 live broadcast)

DStv Stream App

GOtv Stream App

Africa Magic Showcase

Africa Magic Family

4. New Housemates

A fresh set of carefully selected contestants from different backgrounds will enter the house to compete for the top prize. Their identities will only be revealed during the live premiere.

5. 24-hour live coverage

Just like previous editions, fans will enjoy 24 hour live access to everything happening inside the Big Brother house from daily conversations and diary sessions to tasks, games, parties, and unexpected drama.

6. Sunday live evictions

Following the premiere, viewers can look forward to weekly live eviction shows every Sunday at 7:00 p.m. (WAT), where at least one housemate will leave the competition based on the outcome of nominations and public votes.

7. Expect new twists

The organisers have hinted that Season 11 will feature fresh twists, new challenges, and surprises designed to keep both housemates and viewers entertained throughout the season.

8. Fans will decide the winner

As always, viewers will play a major role in deciding who stays in the house and who eventually wins the competition through public voting.

9. Social media buzz

From the moment the housemates are unveiled, social media is expected to come alive with trending conversations, fan predictions, memes, and debates as viewers rally behind their favourite contestants.

10. The grand prize

This season’s winner will walk away with a record-breaking N160 million grand prize, making it the biggest prize in the history of Big Brother Naija.

Discipline, not talent, sustains career longevity – Actor Ramsey Nouah

Seasoned actor Ramsey Nouah has said that talent alone is insufficient to build a lasting career in the entertainment industry, stressing that discipline and consistency are critical to long-term success.

Nouah made the remarks in an interview shared on Instagram, where he reflected on his more than three decades in film.

The actor, director and producer said public perception often equates fame with success, while ignoring the effort behind it.

‘I’ve come to know and learn that talent is not enough. Discipline is what actually keeps you consistent when inspiration fails you.

‘A lot of people assume that success is giving, but it’s not. They never see the work, the effort, the doubts and everything behind the scenes.

‘They always think that when you’re famous, you’re successful already. That’s not what it takes’, he said.

Responding to a question on whether attaining or maintaining success is harder, Nouah said consistency matters most.

‘Success is a given, but it can happen just once. Consistency is what really matters. And for you to be consistent, you need discipline,’ he added.

Nouah is regarded as one of Nollywood’s most accomplished actors.

With a career spanning over 30 years, he has featured in numerous films and has also directed and produced projects including Living in Bondage: Breaking Free.

KPA suffers setback in tussle over lucrative forklifts tender

The Court of Appeal has struck out an appeal by the Kenya Ports Authority (KPA) challenging a High Court decision that quashed the award of a Sh362 million tender for supply and maintenance of 15 forklift trucks.

The court rejected the procurement dispute after finding the appeal was filed one day late, leaving the High Court decision intact. The court reaffirmed that statutory timelines in procurement cases cannot be extended under ordinary appellate procedures.

The court ruled that the authority and its accounting officer failed to invoke the court’s jurisdiction within the mandatory seven-day period prescribed under the Public Procurement and Asset Disposal Act.

The appeal arose from a procurement dispute involving Finnish cargo-handling equipment manufacturer Kalmar Finland Oy, which lost the two-lot tender to Brookwood Technical Limited and Autobikes Ltd early this year. Kalmar was disqualified for failure to file audited accounts for the years 2024 and 2025, though it challenged this, arguing the requirement did not apply to it, as an original equipment manufacturer.

Autobikes Ltd was awarded Lot 2 of the contract for $721,306 (Sh93.2 million) while Brookwood Technical Limited was to get Lot 1 at $2.8 million (Sh362 million) before the Finnish firm lodged a complaint. The tender was for the supply, testing and commissioning of 15 new forklift trucks.

Kalmar Finland Oy successfully challenged Brookwood’s award at the High Court, which quashed the Public Procurement Administrative Review Board’s finding that Brookwood was eligible to participate in the tender.

In the judgment dated May 28, 2026, the court found that Brookwood had not been prequalified to participate in that restricted tender, which had been limited to four firms, whose equipment was already in use at the port. They were identified as XYMA, Hyster, SMV Konecranes and Kalmar.

‘The applicant (Kalmar) was among those prequalified to tender; the interested party (Brookwood) was not,’ said the court. ‘The list of invited bidders is a mandatory requirement, and procuring entities have no legal discretion to waive or deviate from it, and inviting bids from firms that are not in the list would amount to the procuring entity disregarding its own bid conditions, making it illegal,’ it added.

Aggrieved by the High Court judgment, KPA moved to the court of appeal seeking to overturn that decision.

Kalmar separately asked the appellate court to strike out the appeal, arguing that the statutory deadline expired on June 4 but the appeal was lodged and paid for on June 5.

KPA opposed the application, saying it filed a notice of appeal within time and requested typed proceedings from the High Court before attempting to lodge the record of appeal on June 4.

The authority said the court’s Deputy Registrar rejected the filing later that evening because certified proceedings and the High Court judgment had not yet been supplied.

KPA told the court it explained the position the following morning, after which the Deputy Registrar approved the record for filing and payment.

The authority urged the judges not to determine the dispute on procedural grounds, arguing the appeal raised substantial issues deserving consideration.

It argued that “substantive justice, fairness, and equity demand that the appeal be determined on its merits rather than being dismissed for procedural shortcomings.”

KPA also invoked constitutional provisions requiring courts to administer justice without undue regard to procedural technicalities and argued it could not file documents that were unavailable through no fault of its own.

The judges rejected those arguments, holding that procurement appeals occupy a special legal category governed by strict statutory deadlines.

“Section 175(4) of the Public Procurement and Asset Disposal Act provides that an appeal against the decision of the High Court must be filed before the Court of Appeal within seven days,” the bench said.

The judges added that the provision forms the basis of the court’s jurisdiction and that “jurisdiction is everything.”

The court found that although KPA requested typed proceedings before expiry of the deadline, the statutory period continued running because procurement appeals are governed by special provisions overriding ordinary appellate rules.

Quoting earlier decisions, the judges reiterated that “these timelines are cast in stone and cannot be varied.”

The bench also rejected KPA’s reliance on equitable principles protecting litigants from court administrative failures.

“It, therefore, means that the appellants ought to have considered all these factors and endeavoured to file an appeal within time,” the judges said.

They added that KPA failed to demonstrate it had taken every possible step, including physically pursuing registry approval before expiry of the statutory period.

LOLC Insurance, Seylan Bank celebrate bancassurance excellence

LOLC Insurance recently hosted the ‘LOLC Insurance – Seylan Bancassurance Felicitation Night 2025’ under the theme ‘League of Greatness,’ celebrating the success of its longstanding bancassurance partnership with Seylan Bank. The event marked another milestone in a strategic collaboration that has continued to grow since 2013.

The felicitation ceremony brought together senior management, sales leadership, branch representatives, and top-performing teams from both organisations to recognise excellence, appreciate contributions, and reaffirm the enduring partnership between LOLC Insurance and Seylan Bank. The collaboration currently spans 104 Seylan Bank branches across Sri Lanka, delivering accessible life and general insurance solutions islandwide.

Seylan Bank PLC Director/CEO Ramesh Jayasekara said: ‘Our partnership with LOLC Insurance continues to create meaningful value for customers while further strengthening the bancassurance proposition within the banking sector. The dedication and collaborative spirit demonstrated by both teams have been instrumental in achieving these milestones and sustaining the growth of this partnership. We look forward to enhancing our collaboration and delivering greater value to customers in the years ahead.’

Seylan Bank Deputy General Manager – Retail Banking Eugene Seneviratne said: ‘The professionalism and operational efficiency demonstrated by the bancassurance teams have been instrumental in consolidating this partnership. Our branch teams continue to seamlessly manage day-to-day bancassurance functions with minimal operational escalations, reflecting the strength of a well-structured and highly efficient framework. This has contributed to a smooth and mutually beneficial working relationship, enabling the partnership to enhance coordination, execution, and overall performance.’

LOLC General Insurance Chairman/Principal Officer and LOLC Life Assurance Director Kithsiri Gunawardena said: ‘Successful partnerships are built on trust, shared values, and a common vision. The strength and longevity of this collaboration reflect the commitment of both organisations to delivering meaningful impact to customers while advancing the country’s bancassurance sector. The positive feedback and appreciation consistently received from Seylan Bank regarding the quality of service delivered and the steadfast support extended by the teams stand as a testament to the professionalism and service excellence upheld throughout the partnership.’

LOLC Life Assurance Executive Director/Principal Officer and LOLC General Insurance Director Chandana L. Aluthgama said: ‘The synergy between LOLC Insurance and Seylan Bank has strengthened access to insurance solutions across the country. This longstanding collaboration reflects the type of innovation that arises from a strategic partnership anchored in a shared customer-centric approach, which has shaped a successful and sustainable bancassurance journey while supporting the long-term growth of both organisations.’

The ‘League of Greatness’ felicitation night reflected the shared commitment of LOLC Insurance and Seylan Bank to strengthen Sri Lanka’s bancassurance landscape through collaboration, innovation, and service excellence.