Economy
Coalition Of Women Entrepreneurs Demands 40% Allocation Of MSME Loans
Coalition Of Women Entrepreneurs Demands 40% Allocation Of MSME Loans
Coalition of women entrepreneurs demands 40% allocation of MSME loans. The group also urged the government to introduce and enforce gender-responsive financial reforms through inclusive policy-making.
A coalition of women entrepreneurs has appealed to the government and financial institutions to allocate at least 40 per cent of micro, small and medium enterprise loans to women-owned businesses.
The group also urged the government to introduce and enforce gender-responsive financial reforms through inclusive policy-making.
According to a statement on Monday, no fewer than 2,500 Nigerian bank customers have signed a petition calling for increased funding for women entrepreneurs.
The coalition had previously launched a nationwide campaign on April 23, addressing the financial exclusion female entrepreneurs face. It noted that despite their contributions to Nigeria’s economy, women remain largely underserved, receiving less than 10 per cent of small business loans.
This figure, it argued, stands in stark contrast to women’s proven track record of loan repayment and financial discipline.
The coalition called on financial institutions, government agencies, and other relevant stakeholders to dismantle systemic barriers and take proactive steps to improve women’s access to credit.
It stated that its ongoing campaign seeks to create more equitable financing opportunities for women in business. The group noted the disparity in access to capital and urged banks to modernise their lending practices by adopting inclusive models that reflect current economic realities.
The coalition further noted that outdated collateral demands, such as requiring proof of land ownership, hinder women’s credit access.
Mojisola Hunponu-Wusu of Woodhall Capital noted that although women repay 95 per cent of their loans, they receive less than 10 per cent of SME financing.
She urged the Central Bank of Nigeria to take concrete action.
The coalition called on the CBN governor to make a public commitment to setting a minimum 30 per cent gender-based MSME lending target for commercial banks to help bridge the funding gap.
Supporting this stance, Habibah Waziri, the managing director of BGR Consulting, noted that 34 per cent of Nigerian women aspire to grow their businesses, but continue to face systemic obstacles.
“Nigerian women drive half of the nation’s economy, yet less than 10 per cent of SME funding is allocated to them. Closing this funding gap is vital for economic development and gender equity,” she said.
The coalition also demanded that policymakers commit to structural changes by establishing dedicated credit schemes for women and simplifying loan requirements using alternatives like cash flow-based financing.

MSMEs
Joy Una, a leading voice in the WEEWantMore campaign, said it is indefensible for banks to continue relying solely on traditional collateral requirements when more inclusive, cash flow-based lending systems can serve credible women entrepreneurs.
“What we’re witnessing is not only exclusion, it’s a missed economic opportunity. Institutions that modernise their approach stand to benefit from loyal customers, improved loan repayment rates, and long-term growth,” the coalition said.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
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
“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.
Crime
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
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
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
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
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.

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.
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