General
DBN Plans Training Programme for Entrepreneurs

By Dipo Olowookere
Small business owners looking to improve earnings and stay up to date with the latest ways of doing business will have the opportunity to do so.
This is because the Development Bank of Nigeria (DBN) is planning to organise a training programme for those in the Micro, Small and Medium Enterprises (MSMEs) sector in Nigeria.
The bank has concluded plans to hold the 2020 edition of its Entrepreneurship Training Programme in a demonstration of its commitment to provide capacity building for business owners in the country.
According to a statement from the lender, participants will be equipped with required skills to improve their competence in developing and defending a viable business plan, improve their capacity to access funding, as well as efficient utilization of the funds.
The Managing Director of DBN, Mr Tony Okpanachi, while speaking on the exercise scheduled to take place in phases between August and October 2020, said the initiative is an integral part of the bank’s mandate to drive economic growth by empowering MSMEs with the needed skills to improve their capacity and productivity, especially in the face of the COVID 19-induced economic reality.
“As a Development Financial Institution established to bridge the financial gap through our Participating Financial Institutions, the aim for us is to become Nigeria’s primary development finance institution promoting sustainable growth for the country’s fast-growing population.
“While funding is a major problem for MSMEs in Nigeria, there’s also the need to equip our entrepreneurs with management skills to ensure they are better structured and able to effectively manage their respective businesses,” he said.
“Our strategic focus is providing liquidity, credit guarantee, and capacity building for MSMEs for them to be more productive.
“The training, which started in 2019, is geared towards equipping entrepreneurs across sectors of the Nigerian economy with requisite management skills to develop viable business plans, access funds, and effectively manage their business growth.
“Realities enforced on the global economy by the COVID-19 pandemic have affected mostly the SMEs who are major drivers of economic growth. Through this training, we will enhance their entrepreneurial and managerial competencies,” the bank chief said
Business Post gathered that DBN initiated the MSME capacity building programme in 2019 with 100 participants drawn from the six geographical zones of the country who converged in Abuja and Lagos for the training.
This year, the number has increased to 150 participants and the focus is on impacting Nigerian MSMEs with the resilience needed for survival and sustenance in the wake of COVID-19 global pandemic.
The DBN, in addition to providing funding and risk-sharing facilities to MSMEs and small corporates through participating financial institutions, has a mandate for building capacity for PFIS and ultimately, Nigerian MSMEs.
General
Former Oyo Governor Omololu Olunloyo Dies at 89

By Modupe Gbadeyanka
A former governor of Oyo State, Mr Victor Omololu Olunloyo, has died some days to his 90th birthday, precisely April 14, 2025.
He was said to have breathed his last in the early hours of Sunday after battling with old age-related ailments for the last few weeks.
In a statement signed on behalf of the family by Mr Oladapo Ogunwusi, it was stated that the deceased was a source of pride to his family and associates and serve the nation and humanity.
“With a heavy heart but gratitude to the Almighty, we announce the passing into glory of Dr Victor Omololu Olunloyo, former governor of Oyo State, mathematician and engineer and renowned technocrat, a few days before his 90th birthday.
“The Balogun of Oyo and Otun Bobasewa of Ife, Dr Olunloyo was first Rector, Ibadan polytechnic and first Rector, Kwara State Polytechnic among other notable appointments.
“His long record of service to the nation and humanity is a source of pride to his family and associates even as we come to grip with this devastating event.
“The Olunloyo family will appreciate the understanding of the press and the public as they commence efforts to give him a befitting burial.
“Even from everlasting to everlasting, He is God,” the statement read.
Business Post reports that Mr Olunloyo was the Governor of old Oyo State between October and December 1983.
General
Court Convicts Igboezue Emeka for Non-declaration of $40,000

By Modupe Gbadeyanka
One Mr Igboezue Emeka has been convicted and sentenced to one month imprisonment for money laundering by Justice A.O. Owoeye of the Federal High Court in Ikoyi, Lagos.
He was asked to spend one month in jail from the day of his arrest, Wednesday, February 12, 2025, in a judgment delivered on Friday, April 4, 2025.
He was brought before Justice Owoeye by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) for a false currency declaration to the tune of $40,000.
It was gathered that the convict was arrested on February 12 at the Murtala Muhammed International Airport, Ikeja, Lagos, by operatives of the Nigeria Customs Service (NCS) for non-declaration of $40,000.
The NCS had, on the same day, handed him over to the anti-money laundering agency for further investigations and prosecution.
Consequently, he was arraigned on Friday on a one-count charge bordering on money laundering, which he pleaded guilty to when it was read to him.
“That you, Igboezue Emeka, on or about the 12th day of February, 2025, at Murtala Muhammed International Airport, Lagos, within the Lagos Judicial Division of the Federal High Court of Nigeria, failed to make a declaration of the sum of $40,000 to the Nigerian Customs Service and thereby committed an offence contrary to the provisions of Section 3(3) of the Money Laundering Act, No. 14 of 2022 and punishable under Section 3 (5) of the same Act,” the charge read.
After pleading guilty to the solitary charge, the prosecution counsel, Nnaemeka Omewa, called on an operative of the EFCC, Mr Michael Olayemi, to review the facts of the case.
Mr Olayemi, while narrating to the court about the events that led to the investigation of the defendant, said, “At 1.20 pm on February 12, 2025, we got an intelligence report from the Nigerian Customs Service that it intercepted the defendant with the monetary exhibit of the sum of $40,000.
“Upon this, I detailed that one of my team leads, Lanre Michael, who I supervise, would go and pick the individual and the exhibit from the Nigeria Customs at Murtala Mohammed Airport.”
Continuing, he said: “At about 4 pm, he reported with the defendant, the monetary exhibit and the defendant’s international passport. The defendant was in possession of two phones, which he used to call his lawyer and relatives.
“In the presence of his relatives, he volunteered his statement under words of caution, where he admitted that he was travelling via Qatar Air to Seoul, the capital of South Korea.
“He also stated that he was accosted by Customs Officers, where he was asked if he had any currency on him to declare, to which he said No.”
Mr Olaremi further told the court that, “The statement warranted me to invite the personnel of the Nigeria Customs Service, Ogar Sadin John.
“John, in his statement, said that when he accosted Igboezue, he claimed that he had no money. He, however, said he was sceptical.
“Upon searching him, he found the money hidden in one of his shoes in his hand luggage,” adding that the monetary exhibit was registered with the exhibit keeper, while the suspect was served with an administrative bail.
Omewa, thereafter, sought to tender the defendant’s statement and the monetary exhibit recovered from him.
General
Ojulari Vows to Consolidate on Mele Kyari’s Legacy

By Modupe Gbadeyanka
The new chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bayo Ojulari, has promised to consolidate on the legacy and achievements of his predecessor, Mr Mele Kyari.
He made this pledge while taking over from Mr Kyari on Friday at the organisation’s headquarters in Abuja, the country’s seat of power.
President Bola Tinubu on Tuesday dissolved the board of the NNPC and appointed new members to pilot affairs of the oil company.
In a statement today by the Chief Corporate Communications Officer of the NNPC, Mr Olufemi Soneye, it was disclosed that the new CEO praised Mr Kyari for his contributions to the growth of NNPC Ltd and his sterling service to the nation, noting that the objective of his management is to consolidate on the successes of his predecessor and take the company to the next level.
He said though the targets set for his management were quite enormous, he would be relying on the co-operation of the Management and staff of the company, as well as the counsel of his predecessor to achieve set targets.
“I will be counting on your support. I will need it. I will be coming around to seek your counsel,” Mr Ojulari told Mr Kyari.
Earlier in his remarks, the erstwhile NNPC chief congratulated his successor and thanked the management and staff of the company for their support while in office, vowing to do everything within his power to support the new team to succeed, stressing he is only a call away.
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