Asianet Pakistan Private Limited

President Bola Ahmed Tinubu on Monday said the Federal Government’s National Credit Guarantee Company (NCGC) has helped unlock N46.95 billion in loans for 67,512 Nigerians and businesses within its first year of operations.

The President said the credit was mobilised on the back of N21.59 billion in guarantees issued by the company, translating to about N2.17 in lending for every N1 of guarantee provided.

Tinubu, in a message posted on his verified X handle, @officialABAT, said the figures demonstrated his administration’s determination to move Nigeria towards a credit-based economy in which workers and businesses could access financing without being held back by traditional collateral requirements.

The figures cited by the President are consistent with NCGC’s first-year performance, which showed that N21.59 billion in risk cover unlocked N46.95 billion in financing for 67,512 borrowers across 25 states and the Federal Capital Territory.

According to Tinubu, 11,374 of the beneficiaries are women, while 33.5 per cent of the total beneficiaries are first-time formal borrowers, bringing more than 22,000 Nigerians into the formal credit system for the first time.

He said the development would allow the new borrowers to establish credit histories which could improve their prospects of securing further financing as they successfully repay their loans.

‘When I sought your mandate, I promised to move Nigeria towards a credit-based economy and to establish a loan guarantee scheme that would help small businesses overcome the barriers that keep them from finance.

‘That promise was about something practical. A worker with access to credit can buy what the family needs and pay over time, and a small business can invest today against the income it expects tomorrow’, Tinubu said.

The President said his administration had been building institutions around the objective, pointing to the Nigerian Consumer Credit Corporation (CREDICORP), the Nigerian Education Loan Fund (NELFUND), the Bank of Industry (BOI), Development Bank of Nigeria (DBN) and NCGC as components of the emerging credit architecture.

He explained that while CREDICORP provides consumer credit to working Nigerians and NELFUND supports students with education financing, the NCGC was established to confront one of the biggest obstacles to business lending; the reluctance of financial institutions to lend to otherwise viable businesses with insufficient collateral or limited credit histories.

‘Many viable businesses still meet the same obstacle at the bank. Lenders see too much risk in a sound business when the owner has little collateral or no credit history.

‘We established NCGC to help change that. It carries part of the lending risk with participating financial institutions, giving them greater confidence to lend to businesses and borrowers they might otherwise turn away’, Tinubu said.

The NCGC operates by providing partial credit guarantees, sharing part of lenders’ exposure and consequently reducing the risk attached to lending to underserved businesses and consumers.

The company says its guarantees typically cover up to 60 per cent of outstanding loan principal, although higher coverage may apply to some strategic categories.

Tinubu said the company currently works with 19 participating financial institutions comprising 13 commercial banks, three microfinance banks and three development finance institutions.

He added that beyond the volume of loans already mobilised, the businesses supported under the guarantee arrangement were estimated to account for 661,291 direct and indirect jobs.

Independent reporting on NCGC’s first-year performance also put the number of jobs supported at 661,291 and confirmed that 11,374 of the 67,512 beneficiaries were women.

The President said access to credit was important not merely because of the amount of money disbursed but because of its capacity to expand businesses, stimulate consumption and create employment.

‘Credit matters because of what people can do with it. A trader can restock before the festive season. When a manufacturer takes a bigger order and buys another machine to fill it, another Nigerian gets a job’, he said.

Tinubu said the administration considered the expansion of credit as a critical bridge between its economic reforms and opportunities available to ordinary Nigerians.

‘This is how we move from reforms to opportunities. Our reforms laid the foundation. Credit gives Nigerians the means to build on it. Tens of thousands who stood outside formal credit a year ago are now inside, borrowing to grow’, he said.

The NCGC was created following a presidential mandate in August 2024 to address financing constraints confronting small businesses and underserved consumers.

Its mandate includes providing partial credit guarantees to reduce lending risks, improve access to finance and promote financial inclusion.

Tinubu pledged that his administration would continue expanding access to formal credit across the country, saying ‘we will keep widening that road until the opportunities our reforms create reach homes and businesses in every part of Nigeria.

‘Promise made, Promise Kept. We are moving from reforms to opportunities. Nigeria First’, the President added.

President of the Senate, Godswill Akpabio, on Monday, assured the Speaker of the Australian House of Representatives, Hon. Milton Dick, that Nigeria will support his bid for the Presidency of the Inter-Parliamentary Union (IPU).

Akpabio gave the assurance at the National Assembly when Hon. Dick visited Abuja to seek the support of the Nigerian Parliament’s leadership ahead of the election for the Presidency of IPU next month.

The Senate President told his guests that ‘on IPU, which is the reason why you came, I have taken note of your candidature for the Presidency of the IPU and of your experience within the organisation, including your service as Vice President of the Asia-Pacific group and Leadership of several IPU delegations.

‘The materials accompanying your visit also emphasise your commitment to impartiality, inclusion and parliamentary diplomacy. I must say that with you as President of IPU, IPU can only wax stronger; IPU can only improve.

‘It is important that we complement a woman Secretary-General that we have elected with a man like you who has always shown very serious commitment.

‘We are not saying that the African group in IPU will not have a divergent view. We have yet to meet. We are meeting on October 4, 2026. I will be there to ensure your candidature is accepted. The African group will meet. I assure you their decision will be in your favour.’

Akpabio said Nigeria attaches great importance to IPU as an institution for parliamentary dialogue, democratic development, peace, and international cooperation, and looked forward to hearing the candidate’s vision for the organisation and his thoughts on strengthening the voice of Africa, the Pacific, and developing countries within the IPU.

Akpabio also advocated strengthening cooperation between Nigeria and Australia, particularly in mining, agriculture, education, renewable energy, technology, security, and capacity building.

‘If you have businessmen in Australia looking for areas to invest in, this is one country (Nigeria) that no matter what you invest in, the population is there, the market is available, and you will make quantum profits.

‘I want you to take the message back to the business community in Australia that Nigeria is awaiting their coming and that you have come to open the door and that it will never be closed again,’ Akpabio said.

The Senate President said the two countries could also help to build a very strong parliamentary bridge between Africa and the Pacific.

Earlier, the visiting Australian Speaker said that when he decided to run for the Presidency of IPU, he was told that he had to come to Nigeria to understand Africa.

‘I know that Nigeria is the heart of Africa and your leadership is well known throughout the continent. On behalf of the people of Australia, we thank you for what you have done for democracy and we thank you for what you have done for the IPU.

‘Mr President, thank you to be honoured for being with you today. I thank you for allowing me to earn your support and l promise you if I’m elected or if I’m not elected, you have a brand new friend in Australia,’ Hon. Dick said.

The independent federal committee investigating the deaths of 37 persons in the custody of the Nigeria Security and Civil Defence Corps (NSCDC) in Minna has begun work, with its chairman, Mr Jonathan Kure assuring that the probe will deliver justice and bring relief to those affected.

Kure, a retired Deputy Director General of the Department of State Services and chairman of the 10-man panel set up by the Federal Government, said the committee would fully exercise its independent mandate.

Kure spoke when he led other members of the committee on a courtesy visit to Governor Mohammed Umaru Bago at the Government House in Minna saying the team was in the state capital to execute the assignment given to it by the President.

The chairman disclosed that the committee’s medical team had already started its assignment immediately after the panel’s inauguration so that critical evidence would not be lost.

‘I want to assure you that we will display the independent status that has been bestowed on us by making sure that justice is done. We will do our best to unravel what went wrong. And we will apportion blame where blame needs to go.’

He added that anyone wrongly implicated would also be treated fairly as he used the occasion to condole with the government and people of Niger State, describing the incident as a matter of national concern.

Niger stae Governor, Mohammed Umaru Bago thanked the committee for the visit and pledged the full support and cooperation of the state government to ensure the success of the investigation.

The governor expressed confidence that the panel, composed of persons of integrity drawn from relevant sectors, would uncover the circumstances surrounding the deaths, noting that ‘the world is watching.’

A chieftain of the African Democratic Congress (ADC), Kenneth Okonkwo, has said he was misled when he previously defended former Anambra State Governor Peter Obi against claims that his administration left debts and other financial obligations behind.

Okonkwo, who served as Obi’s spokesman during the 2023 presidential campaign, said he could no longer repeat some of the claims he made in defence of the former governor following fresh disclosures by the Anambra State Government.

He made the remarks on Sunday Politics, a programme on Television Continental (TVC).

Okonkwo, who is now spokesman for the presidential campaign council of former Vice-President Atiku Abubakar, the ADC presidential candidate for the 2027 election, said he was willing to change his position whenever new facts emerged.

‘You know me, I’m a very passionate person in whatever I believe in. Let me tell you because I was misled,’ he said.

He recalled that during the 2023 election campaign, he told Nigerians that Obi left no debt, unpaid salaries, pensions, or gratuities when he left office.

‘There was a time I told Nigerians that Peter Obi was not owing anything, did not leave any debt, he was not owing any salary. No gratuity. No pension. And I said, go and verify.

‘I’m not a man that stands on my own misunderstanding. When I see the facts, I agree.’

According to Okonkwo, the Anambra State Government subsequently claimed that the Obi administration obtained eight loans and that workers at the state-owned water corporation were owed salaries and arrears.

‘The fact is, the Anambra State Government said he borrowed eight loans. The fact is that Anambra State said that at the water corporation, he owed workers all their salaries and arrears. I cannot say the same thing that I said about Peter Obi in 2023,’ he said.

The comments come amid an ongoing dispute between Obi and the Anambra State Government over the state’s debt profile and financial obligations allegedly inherited from previous administrations.

The controversy followed a statement by the state’s Commissioner for Finance, Izuchukwu Okafor, that Anambra was still servicing loans obtained by previous administrations, including those of Obi and former Governor Willie Obiano.

Obi subsequently rejected the claim, maintaining that he left office without outstanding debts.

He also said his administration did not owe salaries, pensions or contractors when he handed over power and that he left N2.1 billion in an ecological fund for the state.

The state government, however, disputed the claims, saying Obi left $123.77 million in debt when he left office. It also said it had no evidence of the ecological fund cited by the former governor.

The government later released documents relating to N363.38 million in salary arrears which it said were inherited from the Obi administration.

Okonkwo also referred to his earlier defence of Obi’s family following claims about the cost of a wristwatch allegedly worn by a son of President Bola Tinubu.

‘There was a time they figured out that Tinubu’s son was wearing a watch worth up to N135 million,’ he said.

‘I went on television and said nobody from Peter Obi’s family could ever wear such a thing while people are dying in poverty. I staked my reputation on it. Can I still say that today?’

Explaining his shift in approach ahead of the 2027 election, Okonkwo said his scrutiny of Obi would differ from his role in the previous presidential election.

‘That’s why I said in 2023 I campaigned for them as the examination in chief. In 2027, it’s going to be a cross-examination,’ he said.

Obi was governor of Anambra State from March 2006 to March 2014, although his first tenure was interrupted by impeachment in November 2006. He returned to office after a court overturned the impeachment and handed over to Obiano on March 17, 2014.

Evanna Empowerment Initiative (EEI) has concluded a two-day drive across Lagos, Owerri, Abuja, and Abeokuta, providing bakers with essential baking materials to support their craft.

The over 100 bakers who took part received margarine, cake icing, sugar, and a range of other baking supplies, provided over the drive.

The event formed part of EEI’s continued work training and supporting bakers and small enterprise owners across Lagos.

For EEI, it is an extension of the mission of putting real materials into the hands of bakers already doing the work, not a one-off gesture.

Founder/Executive Director, Evanna Empowerment Initiative, Grace Ilesanmi, described the drive as a direct extension of her own path into baking, and a practical investment in the futures of the bakers who took part.

On the initiative, she said, ‘Baking is what brought me here, but teaching others to bake is what keeps me here. When we put real materials directly into a baker’s hands, we’re investing in a skill they’ll carry for the rest of their working life.’

EEI’s baking and confectionery classes run free yearly from February to October, to anyone aged 15 and older.

In October, EEI will welcome its next cohort of students for hands-on training in bread, pastries, small chops, and other baking skills.

Ilesanmi will also host Ogba Bakers Connect, a meet-and-greet bringing together bakers from across Lagos with established names in the industry to share practical insights from their own kitchens.

Grace Ilesanmi will also host Ogba Bakers Connect, a meet-and-greet bringing together bakers from across Lagos with established names in the industry to share practical insights from their own kitchens.

Former Big Brother Naija housemate and entrepreneur, Uriel Oputa, has questioned the growing trend of couples taking their private relationship issues to social media.

In a post shared on her Instagram story, the reality star wondered why people now use social platforms to settle personal disagreements.

She asked when social media became a family court, stressing that not every misunderstanding needs public attention.

Uriel said she prays to end up with a partner who has the emotional maturity to know that some issues should be resolved privately, through honest communication or with the help of a counsellor.

According to her, social media does not love people as much as they think, as users will only watch, take sides, make memes and move on to the next gist.

She wrote, ‘This is probably an unpopular opinion, but why do people bring their personal relationship fights to social media? Like… when did social media become the family court?

‘I pray that I end up with a partner who has the wisdom and emotional maturity to understand that not every disagreement needs an audience. Some things should be handled within the family, privately, with honest communication, and if necessary, with counselling or a trusted professional.

‘Because the truth is, social media doesn’t love you the way you think it does. People will watch, pick sides, screenshot, make memes, laugh, argue in the comments… and then scroll to the next thing.’

She clarified, however, that her comment was not aimed at any particular couple, but was a general observation.

‘My comment wasn’t targeted at any specific couple. It’s a generalised statement. Before una twist me inside o biko o’, she added.

Rudolph Kwanue University (RKU), Liberia, has appointed Prof. Elvis Otobo, PhD, as its Public Relations Officer and Director of Communication and Publications.

The scholar expected to strengthen the institution’s research communication, digital presence and engagement with the academic community.

Otobo, a Nigerian scholar based in the United Kingdom, is expected to bring his background in information resources management, communication, public relations and university administration to the new role.

The appointment, according to the university, will also support the promotion of its academic programmes, research outputs, publications and institutional activities to students, academics, alumni, partners and the wider public. The university, in a statement signed by its President and Founder, Prof. Rudolph Q. Kwanue Sr., said the appointment was part of efforts to strengthen its communication, publications, digital presence and international visibility.

Otobo, a Nigerian scholar based in the United Kingdom, brings academic and professional experience spanning Public Administration, Archives and Records Management, Information Resources Management, Communication, Public Relations and Heritage.

He holds a Bachelor’s degree in Public Administration from the University of Benin, a Master’s degree in Archives, Records and Information Management from the University of Ibadan and a Master of Arts in Heritage Theory and Practice from the University of Plymouth, United Kingdom.

He also holds a PhD in Information Resources Management from Babcock University.

According to the university, Otobo has worked in public relations, communication, records and information management, marketing, research and university administration, including communication and public relations roles within the university environment.

In his new capacity, he will oversee the development and management of the university’s website and coordinate its digital activities and online platforms.

He will also be responsible for public relations and communication activities, promoting the university’s academic programmes, achievements and events, as well as strengthening communication with students, faculty, alumni, partners and the wider public.

The university said Otobo would further support its publications and research communication as part of efforts to improve the institution’s digital and public profile.

He will also serve with the RKU Publications and International Research Journal Company, known as the International Journal of Research and Innovation Studies (IJRIS-RKU).

His responsibilities at IJRIS-RKU will include supporting research and digital publications, research communication and the promotion of research and innovation from the university and its academic community.

RKU said it looked forward to Otobo’s contribution to its communication, publications, digital activities, research and international visibility.