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Economy

Tinubu Government Gives N250,000 Grants To Ondo MSMEs To Boost Local Economy

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Shettima

Tinubu Government Gives N250,000 Grants To Ondo MSMEs To Boost Local Economy

Tinubu Government gives N250,000 grants to Ondo MSMEs to boost local economy. The federal government has disbursed N250,000 unconditional grants to outstanding micro, small, and medium enterprises (MSMEs) in Ondo state as part of efforts to empower local businesses.

Vice-President Kashim Shettima announced the disbursement of the grants on Tuesday during the launch of the 7th expanded national MSME clinics in Akure, Ondo, according to a statement by Stanley Nkwocha, senior special assistant to the president on media and communications (office of the vice-president).

Shettima said the grant would create an enabling environment for MSMEs in Nigeria and is central to the economic policy of the renewed hope administration of President Bola Tinubu.

“I am also pleased to announce today, in line with President Tinubu’s unwavering support for grassroots enterprises, that every outstanding exhibiting MSME identified during this clinic will receive an unconditional grant of ₦250,000,” the vice-president said.

“This is not a loan. It is a gift from the Nigerian people, through their government, to the champions of local industry. It is our way of saying: we see you, we value you, and we believe in your journey.”

Shettima emphasised the importance of MSMEs in Nigeria’s economy, noting that they account for over 90 percent of businesses and contribute over 45 percent to the national economy.

He described MSMEs as the silent architects of survival, lifelines of households, and the pulse of every community, employing over 60 million Nigerians.

Shettima stressed that MSMEs are central to the Tinubu administration’s economic policy, serving as the true engine of poverty alleviation and job creation.

“This is why the Renewed Hope Agenda of President Bola Ahmed Tinubu places the creation of an enabling environment for MSMEs at the heart of our economic policy. It is not rhetoric. It is a call to action. It is a covenant with the builders of our future,” he noted.

“This administration is deliberate in walking the talk, and one of the ways we do so is through platforms such as the MSME Clinics, conceived to draw the federal government closer to the creators of jobs, the innovators, the dreamers who make things happen in our communities.”

‘ONDO MSME CLINIC OFFERS SMALL BUSINESSES UNPRECEDENTED OPPORTUNITIES’

The vice-president said the expanded MSMEs clinic in Ondo state provides small businesses with a unique chance to interact directly with regulatory agencies, financial institutions, and business support organisations.

Shettima also said the Tinubu administration has introduced several interventions to support MSMEs, including a N75 billion MSME Intervention Fund, N50 billion Presidential Conditional Grant Scheme, and N75 billion Manufacturers Fund.

He commended the Ondo state government for its supportive policies and partnerships on investment in infrastructure that welcome innovation and enterprise.

On his part, Lucky Aiyedatiwa, the governor of Ondo, said the state government is also in alignment with the initiative of the federal government to implement schemes to support MSME development and address challenges facing small businesses.

Aiyedatiwa pointed out that his administration’s seven-point agenda, which prioritises MSME growth and development, has been impactful and has resulted in successes across different sectors of agriculture, manufacturing, and fashion, among others.

“Your presence here today demonstrates your unwavering commitment to the development of our state and key sectors of our nation’s economy,” he said.

“Your interest in promoting MSMEs across Nigeria has changed the fortunes and stories of small businesses across our country, and we remain grateful.”

MSMEs

MSMEs

Also, Biodun Oyebanji, governor of Ekiti state, appreciated the federal government, particularly the vice-president, for personally driving the initiative of the clinics.

Oyebanji acknowledged that the Ekiti edition of the clinics had been impactful and remains invaluable, as businesses have continued to benefit from the network created through the programme.

The governor said the programme is the first attempt by any government in Nigeria to align growth to development through a deliberate and direct interface between facilitators and small business operators across the country.

Temitola Adekunle-Johnson, special adviser to the president on job creation and MSME, and Charles Odii, director general of the Small and Medium Enterprises Development Agency (SMEDAN), were in attendance.

Others present were Adeyeye Ogunwusi, Ooni of Ife, and Ajibade Ogunoye, chairman of the Ondo state council of chiefs.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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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.

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Crime

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

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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

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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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.

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