Connect with us

Economy

BOI Unveiled N2b Loan Scheme For NYSC Members

Published

on

BOI Unveiled N2b Loan Scheme For NYSC Members

BOI Unveiled N2b Loan Scheme For NYSC Members

BOI unveiled N2b loan scheme for NYSC members. According to the managing director, the loan is repayable over three years.

The Bank of Industry (BOI) has unveiled a two billion naira entrepreneurship programme designed to provide affordable loans to National Youth Service Corps (NYSC) members.

The BOI managing director, Olasupo Olusi, said this at the inauguration of the fund on Wednesday in Abuja.
Mr Olusi, who was represented by the executive director for micro, small and medium enterprises (MSME) at BOI, Shekarau Omar, said that it was part of efforts to tackle unemployment and promote youth-led enterprises.

He said that the initiative was tagged the “2bn BOI–NYSC Entrepreneurship Programme”.

He said that it would enable the beneficiaries to access up to five million naira each at a single-digit interest rate of nine per cent per annum.

According to the managing director, the loan is repayable over three years, with a three-month moratorium on both principal and interest.
He described the initiative as a practical step towards moving young Nigerians from job seekers to job creators.

“The partnership between BOI and NYSC builds on earlier collaborations like the Graduate Entrepreneurship Fund (GEF), which trained over 3,000 graduates, financed 609 businesses, and disbursed over one billion naira in loans.

“These numbers are not just statistics, they represent poultry farms, fashion houses, tech start-ups and creative studios brought to life.

“When young people receive targeted capacity building, affordable finance and mentoring, they repay, they employ, and they grow,” he said.

He commended the NYSC’s Skills Acquisition and Entrepreneurship Development (SAED) department for its role in training corps members to become self-reliant.
According to him, the new scheme will help to further strengthen the initiative’s impact.

“To our corps members, your service year is a launch pad, not a waiting room.
“Start small, plan well, and stay disciplined about cash flow and compliance.

“With creativity and determination, you can become the next generation of entrepreneurs shaping Nigeria’s future,” he said.

The BOI boss also appreciated the NYSC director-general, Brig.-Gen. Olakunle Nafiu, the director of SAED, and other officials of both institutions for their roles in designing and implementing the programme.

He said that the success of the initiative would be measured by the number of approvals granted, jobs created, and businesses that continue to thrive beyond the NYSC service year.

In his remarks, the NYSC director-general commended BOI for the funding support, urging the bank to expand the fund to five billion Naira to reach more corps members.

He recalled the longstanding partnership between BOI and NYSC, adding that the collaboration began in 2012 with the inauguration of the SAED programme, which laid the foundation for youth entrepreneurship and skill development.

“This event reaffirms our shared vision. We are not just building skills; we are building livelihoods for over 400,000 corps members who pass through the NYSC programme annually.

BOI Unveiled N2b Loan Scheme For NYSC Members

BOI Unveiled N2b Loan Scheme For NYSC Members

“The new loan scheme underscores BOI’s responsiveness to one of the biggest challenges in the youth entrepreneurship ecosystem, access to affordable financing.

“This is not just credit, it is confidence. Confidence that the ideas of young Nigerians are worth investing in. BOI’s commitment ensures that good ideas do not die because of a lack of capital.”

The NYSC boss expressed the commitment of the corps to put in place strong measures to ensure that the programme delivered its intended impact.

The initiative is expected to stimulate small business growth, strengthen youth empowerment, and deepen public-private partnerships in driving inclusive economic development.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Published

on

By

Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

Continue Reading

Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

Published

on

By

EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

Continue Reading

Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

Published

on

By

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

Continue Reading

Trending