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463 Kwara Civil Servants Get N303.8m Loan for Home Renovation

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FMBN home renovation loan

By Modupe Gbadeyanka

The sum of N303.8 million has been disbursed to 463 civil servants in Kwara State as mortgage loans to renovate or improve existing properties that are personally owned by them or through family ownership.

The credit facility was given to the beneficiaries on Monday by the Federal Mortgage Bank of Nigeria (FMBN) under the FMBN home renovation loan scheme.

The Managing Director of the agency, Mr Ahmed Dangiwa, explained that the loan window affords Nigerians who are contributors to the National Housing Fund (NNF) an opportunity to access mortgage loans.

Mr Dangiwa, who was represented by the Deputy General Manager of FMBN, Mr Ibrahim Nafada, said before now, the agency had approved a sum of N401.2 million for 708 members of staff of the Kwara State Universal Basic Education which will be credited to individual beneficiaries’ accounts after execution of all other conditions precedent to disbursement.

“Permit me to applaud the commitment and cooperation of the Governor [of Kwara State] Mr AbdulRahman AbdulRazaq and the Head of Service (HoS), Mrs Susan Modupe, in executing these documents promptly which has enabled the Kwara State civil servants to benefit from FMBN home renovation loan to the tune of N1,025,283,000 disbursed to 1,575 beneficiaries. Today, we are disbursing the sum of N303,750,000 to 463 beneficiaries,” he said.

At the presentation of cheques to the 463 beneficiaries, the Governor, while speaking, said, “This home renovation loan scheme is basically an initiative of the FMBN that many of you have enrolled in.

“You have played your own role by enrolling in the scheme, trusting the system to work for you, playing your own role as patriotic citizens and as workers.

“For you to benefit from this loan, however, your state government must stand as your guarantor. And we gladly did because we trust that you have also worked to earn our trust,” Mr AbdulRazaq said at the event attended by civil servants from across ministries, departments, and agencies in the state.

Represented by the Deputy Governor, Mr Kayode Alabi, the Governor promised to mobilise available resources and grab every opportunity to improve the wellbeing of the civil servants as well as the ordinary citizens.

“Without workers, nothing meaningful gets done. For this reason, we will always mobilise available resources and grab every opportunity to improve the well-being of the civil servants as well as the ordinary citizens. This event is another testimony of the resolve of this administration to grab every opportunity to make our workers happy,” he added.

“We are ensuring that workers across all cadres enjoy their promotion and the pay rise that comes with it. We have also approved training and retraining for workers while offering support to those of you pursuing further degrees at home or abroad.

“We have also ensured a decent work environment with relevant tools through completion of the secretariat, purchase of new vehicles, and modern computers and accessories. We continue to support workers with health issues. We have also ensured that workers are paid as and when due as a matter of right.

“We are also considering other supportive measures to ease the effects of inflation on what you earn. For example, we are building a public school system that offers our children a standard that will be the envy of other states and the pride of our people.

“The recent recruitment of qualified and competent teachers is a bold beginning. We are following it up with school remodelling and reconstruction across the state,” the Governor stated.

Mr AbdulRazaq appealed to civil servants to continue to trust the government and work with the administration to build a sustainable future for all of the Kwara people.

For her part, the HoS said the present administration was doing everything possible to tap all available opportunities and resources from both governmental and non-governmental organisations for the benefit of the people.

“The scheme was designed especially for contributors to the National Housing Fund to benefit from their contributions on lower interest rates.

“Through the committed efforts of government, the FMBN not only approved the loan for all interested civil servants, who indicated their interests but also made cheques for them.

“I want to advise the beneficiaries of the first phase and those to benefit in subsequent batches to make use of the loan for the purpose for which it is meant for. A comfortable home for a civil servant is no doubt a sine-qua-non for comfortable living which ultimately would lead to the high productivity of such civil servant,” she said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Court Orders SERAP to Pay DSS Operatives N100m For Defamation

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serap dss

By Adedapo Adesanya

Justice Halilu Yusuf of the Federal Capital Territory High Court, Abuja, has awarded N100 million in damages against the Incorporated Trustees of the Socio-Economic Rights and Accountability Project (SERAP).

In his judgment, Justice Yusuf held that two operatives of the Department of State Services (DSS) were right to institute a defamation suit against SERAP.

In the suit, filed in the names of the two DSS officials, Ms Sarah John and Mr Gabriel Ogundele, the claimants accused SERAP of making a false allegation that they invaded its office in Abuja on September 9, 2024.

The court also ordered the organisation to tender a public apology to the two operatives, to be published in two national newspapers and broadcast on two television stations.

In addition, the court awarded N1 million against SERAP as the cost of litigation.

The judgment further stipulated a 10 per cent interest on the damages until the sum is fully paid.

The case follows a dispute that began in September 2024 when SERAP alleged that DSS officers “unlawfully invaded” its Abuja office.

In a post on its X account, the group said, “Officers from Nigeria’s State Security Service are presently unlawfully occupying SERAP’s office in Abuja, asking to see our directors.”

It added, “President Bola Tinubu must immediately direct the SSS to end the harassment, intimidation, and attack on the rights of Nigerians.”

The DSS, however, denied the claims.

It said the visit by its officers was routine and meant to engage the organisation’s new leadership.

The officers later sued, insisting that “no invasion occurred” and that the claims damaged their reputation and led to disciplinary action.

However, SERAP maintained its position.

In a later statement, it said, “We stand by our statements of defence and statements on oath,” insisting that DSS officers “unlawfully invaded our Abuja office.”

During court proceedings, witnesses reportedly said no physical assault took place.

SERAP’s Deputy Director, Mr Kolawole Oluwadare, told the court the claims were based on information from a staff member.

Counsel to the DSS officers, Mr Oluwagbemileke Kehinde, urged the court to grant all reliefs, arguing that the claimants had “substantially proved their case.”

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UK Court Freezes Nigerian Oil Trader’s Global Assets Over $40m Debt

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Abdulrahman Musa Bashar

By Adedapo Adesanya

A court in the United Kingdom has taken sweeping action against a Nigerian oil trader, Mr Abdulrahman Musa Bashar, freezing his assets worldwide in a bid to secure repayment of a long-running debt dispute tied to failed fuel transactions.

The order, issued by the High Court in London, prevents Mr Bashar and his firm, Ultimate Oil and Gas FZCO, from selling, transferring, or otherwise dealing with assets across multiple jurisdictions, including Nigeria, the United Arab Emirates, the United Kingdom, and France. The restriction applies up to the value of the outstanding liability, with disclosed holdings estimated at nearly $170 million.

According to Business Day, the dispute traces back to oil trading agreements between 2022 and 2023, when Dubai-based Petrichor Energy supplied gasoil and Jet-A1 aviation fuel to Ultimate.

Court filings indicate that while deliveries were completed, payments were inconsistent and ultimately fell short, leaving the supplier to pursue legal and arbitration routes to recover its funds.

In an attempt to resolve the matter, Mr Bashar entered a personal repayment agreement in early 2024, backing the company’s obligations with his own guarantee.

He also issued a series of signed cheques as security. However, these measures failed to yield results, as the debt remained unsettled and the cheques were rejected upon presentation.

The court’s decision to impose a global freeze was influenced by what it described as troubling conduct during the dispute. Evidence suggested that assets were being sold without proceeds going toward the debt, alongside concerns that not all holdings had been fully disclosed.

The newspaper reported that testimony also pointed to an alleged warning from Mr Bashar that he might move assets out of reach if negotiations broke down, an assertion the court treated as a credible risk of asset dissipation.

The ruling adds to a growing list of legal challenges facing the businessman. He has previously been sanctioned by English courts for failing to comply with orders in a separate commercial dispute, and was also convicted in Dubai, the UAE, in a different cheque-related case.

With the freezing order now active, Petrichor has expanded its recovery efforts beyond the UK, initiating enforcement actions in both the UAE and Nigeria.

The move aims to block any pathways through which assets could be shielded, while also enabling seizure or control where legally permitted.

In a further escalation, the English court has directed two Nigerian-linked companies associated with Mr Bashar to grant access to a Delta State storage facility, allowing the creditor to recover fuel cargoes tied to the unpaid transactions. Failure to comply could trigger additional legal consequences, including contempt proceedings.

Despite ongoing attempts by Mr Bashar and his company to overturn the freezing order, the court has so far declined to lift the restrictions, leaving the enforcement process firmly in motion.

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IFC, Norfund Back Nigeria’s Mini-Grid Expansion with $83.2m Funding

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Mini Grids Programme

By Adedapo Adesanya

The World Bank’s financing arm, the International Finance Corporation (IFC), and the Norwegian investment fund (Norfund) have committed up to $83.2 million to expand solar hybrid mini-grids across Nigeria, in a move expected to connect nearly half a million new users to electricity.

The funding will support five renewable energy companies, Darway Coast Nigeria Limited, GVE Projects Limited, Prado Power Limited, PriVida Power Limited and StarTimes Energy, to build 315 mini-grid sites across underserved communities.

The projects are projected to deliver about 494,189 new electricity connections. Renewable energy solutions

IFC says the intervention is aimed at closing Nigeria’s massive electricity gap, noting that more than 85 million people in the country still live without access to power.

The institution said expanding distributed renewable energy will not only improve electricity access but also cut energy costs and support small businesses in rural areas.

According to IFC, “By supporting distributed renewable energy solutions, this initiative will help expand access to reliable electricity while reducing energy costs, strengthening local economies, and enabling income-generating activities.”

For operators already working in the sector, the new funding is expected to speed up expansion plans.

The chief executive of Darway Coast Nigeria Limited, Mr Henry Ureh, said the support will allow companies to scale faster and reach more communities that have remained off the national grid for years.

“Access to reliable electricity allows us to expand our operations, support local businesses, and create jobs in the communities we serve,” he said.

Nigeria’s off-grid power space has been growing steadily, but access remains uneven. Data from the Africa Solar Industry Association shows that the country currently has over 4.8 gigawatts of installed solar capacity, but only about 115 megawatts come from mini-grids serving rural communities.

The IFC has been one of the biggest institutional backers of this segment. Last year, it announced a separate $16 million financing package for Nigerian developer Virtuitis to build 97 mini-grids expected to serve over 140,000 off-grid consumers by 2027, showing a steady increase in international interest in decentralised power solutions.

With grid supply still unreliable in many parts of the country, mini-grids are increasingly becoming the most practical solution for rural electrification as they supply adequate but limited power for limited power consumption.

For many communities, the impact goes beyond electricity. Reliable power is expected to support trading activities, agro-processing, small manufacturing and education, all of which have struggled under years of unstable supply. But operators also warn that sustained policy support and stable regulation will be key to scaling beyond pilot-level projects.

As deployment begins across the 315 sites, observers are keen on understanding how quickly these projects can move from funding to actual connections to where they are needed.

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