General
FG Rolls Out Second Phase of Interventions for Small Businesses
By Adedapo Adesanya
The federal government is set to commence the second phase of its interventions for small business, a N75 billion grant initiative, which is part of President Bola Ahmed Tinubu’s administration’s economic reform agenda.
This was disclosed by the Minister of Information and National Orientation, Mr Mohammed Idris, during the Media Activation and Town Hall Meeting on the Federal Government Loan Scheme for Medium, Small and Micro Enterprises and Manufacturing Enterprises.
Mr Idris said the government was targeting the MSMEs with its intervention programmes because they remain the engine of the Nigerian economy, collectively employ over 80 per cent of the nation’s labour force, and contribute nearly half of the national gross domestic product (GDP).
He added that the Tinubu administration was committed to repositioning Nigeria for rapid economic growth and, in doing so, was prioritizing hardworking and energetic entrepreneurs across the country for its intervention schemes.
The Minister clarified that the first phase of the programmes was the N200 billion federal intervention, of which N50 billion has been disbursed as one-off conditional grants, targeted at the nano-businesses segment of the small businesses category.
He said this second phase of N75 billion, was targeting the Micro, Small and Medium businesses category.
“The goal is to diversify the Nigerian economy further, create jobs, promote value-addition, revitalize our communities, and boost exports, and foreign exchange inflows. We are also keen to ensure that these targeted support programs go a long way towards alleviating the pains and challenges being experienced on account of the bold economic reforms being implemented to put our country back on track for sustainable growth and prosperity.
“We fully recognize that these reforms may have caused temporary hardships, especially for vulnerable populations, and we will do everything in our power to cushion the discomfort. These single-digit loan facilities will be complemented by the ongoing tax reforms designed to reduce the tax burden on Nigerian businesses,” he said.
The Minister stated that to ensure no part of the country is left behind, similar town hall meetings are being held simultaneously across the six geo-political zones of the country to gauge the sentiments of MSMEs as well as to mobilize them to take advantage of the interventions to further enhance their businesses.
The Minister stated that, under the Tinubu Social Intervention Programmes, applicants only need to submit their applications to access the interventions, without requiring connections or knowing someone in government.
The Minister also remarked that robust stakeholder engagement was paramount for the successful implementation of government programmes and policies, and commended the Vice President, and the Bank of Industry (BoI) for taking the lead on the laudable programme and for working hard to make it an enduring success.
By Modupe Gbadeyanka
President Bola Tinubu has been asked to urgently investigate allegations that more than N128 billion cannot be accounted for by the Ministry of Power and the Nigerian Bulk Electricity Trading (NBET) Plc.
This call for a probe was made by the Socio-Economic Rights and Accountability Project (SERAP) in a statement issued on Sunday.
The group urged Mr Tinubu to give directive to the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN), and the appropriate anti-corruption agencies to look into the allegations of the missing N128 billion.
It declared that anyone suspected to be responsible should face prosecution as appropriate, especially if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and remitted to the treasury.
In the latest annual report published by the Auditor-General on September 9, 2025, it was claimed that the funds could not be accounted and may have been diverted by some persons.
In its statements today, SERAP said Nigerians continue to pay the price for the widespread and grand corruption in the power sector, stressing that there is a legitimate public interest in ensuring justice and accountability for these grave allegations.
“Tackling corruption in the power sector would go a long way in addressing the persistent breakdown of transmission lines in the country, and improving access of Nigerians to regular and uninterrupted electricity supply,” a part of the statement read.
By Modupe Gbadeyanka
All the terrorists behind the deadly attack on the Kasuwan Daji community in Niger State must be apprehended, President Bola Tinubu has directed.
In a statement issued on Sunday by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, the President condemned the attack as well as the abduction of women and children in the community.
He asked the Minister of Defence, Mr Christopher Musa, to mobilise the security apparatus to hunt down the perpetrators of the act.
In the statement, Mr Tinubu stressed that the Chief of Defence Staff, the service chiefs, the Inspector-General of Police, and the Director-General of the Department of State Services (DSS) must track down and apprehend them, ensuring they are swiftly brought to justice.
He also directed security agencies to rescue all the abducted victims urgently.
President Tinubu issued the directives on Sunday in response to the recent killings of several villagers in Niger State by terrorists suspected to be fleeing from Sokoto and Zamfara following the United States’ air strike on Christmas Eve.
He sent his heartfelt condolences to the families of the victims, as well as to the government and people of Niger State.
“These terrorists have tested the resolve of our country and its people. They must, therefore, face the full consequences of their criminal actions. No matter who they are or what their intent is, they must be hunted down. They, and all those who aid, abet, or enable them in any form, will be caught and brought to justice,” he declared.
Mr Tinubu assured the people of Niger State that security agencies have been mandated to intensify operations around vulnerable communities, particularly those near the forests that have served as hideouts for criminal elements, urging Nigerians to remain united and resolute in the face of this tragedy and cautioned against divisive rhetoric that could undermine national security and cohesion during this challenging period.
“These times demand our humanity. We must stand together as one people and confront these monsters in unison. United, we can and must defeat them, deny them any sanctuary. We must reclaim the peace and security of these attacked communities,” he stated.
By Adedapo Adesanya
A Federal High Court sitting in Abuja has fixed January 7 to hear the bail application of former Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, over alleged money laundering.
Recall that the same court had ordered the remand of Mr Malami at the Kuje Correctional Centre.
The Senior Advocate of Nigeria, his son, Abdulaziz, and one of his wives, Mrs Bashir Asabe, are standing trial predicated on a 16-count charge preferred against them by the Economic and Financial Crimes Commission (EFCC).
The trio, who are accused of laundering N8.7 billion, pleaded not guilty to the charges when they were arraigned on December 29, 2025.
Following their plea of not guilty, Justice Emeka Nwite ordered their remand at Kuje Correctional Centre till January 2, 2026, when their written bail application would be argued by his legal team.
In the charge, identified as FHC/ABJ/CR/700/2025, the defendants were accused of conspiring to conceal, disguise, and retain proceeds from illegal activities.
The indictment claimed that they used multiple bank accounts, corporate entities, and high-value real estate transactions over nearly ten years to indirectly acquire the illicit funds.
According to the charge sheet, the alleged offences took place between 2015 and 2025, primarily within the Federal Capital Territory, Abuja, during Malami’s time as the country’s Attorney-General.
The EFCC alleged that Malami and his son used Metropolitan Auto Tech Limited to hide N1.014 billion in a Sterling Bank account from July 2022 to June 2025.
They were also accused of depositing an additional N600.01 million between September 2020 and February 2021.
The properties in question include a luxury duplex on Amazon Street, Maitama, purchased for N500 million; a property on Onitsha Crescent, Garki, bought for N700 million; and another in Jabi District for N850 million.
Additional acquisitions include real estate on Rhine Street, Maitama (N430 million); in Asokoro District (N210 million and N325 million); and at Efab Estate, Gwarimpa (N120 million).
The EFCC further alleges that Mr Malami used unlawful proceeds totaling N952 million to acquire multiple properties in Abuja, Kano, and Birnin Kebbi between 2018 and 2023.
The acquisitions were allegedly made through proxies and corporate entities to obscure ownership.
The commission claimed that the alleged actions violate the provisions of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act, 2022.
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