Business
Fake Phone Dealers Target Rural Communities
As the Standards
Organisation of Nigeria, (SON) intensifies its efforts against the circulation of sub-standard and fake phones in the country, investigations by our correspondent indicate that the trade has shifted to the rural areas.
Our correspondent who visited Garrison, a popular phone market along Port Harcourt-Aba expressway reports that most of the show cases used for displaying phones in the area were on the decline.
At the phone village, near MTN main office also along the Port Harcourt-Aba expressway, phone sellers no longer exhibit their usual hustle and bustle approach for fear of the unknown.
However, at the rural level, fake phone dealers pretend to sell under promo to unsuspecting public who were made to believe in the jingles that rent the air on daily basis.
For example, in Ahoada Main town, young men and women who describe themselves as sales persons parade the community with various brands of phones ranging from Samsung Galaxy, Tecno P5, H3 among other brands.
According to them, Samsung Galaxy goes for a paltry N5,000 while Tecno P5 and others go for N4,000 and below.
In Abua Central, the story is the same as our correspondent gathered that the fake phone sellers invade the community on every market day.
According to Roy Abije, a Radio Rivers Correspondent from Amalem, Abua, the public has come to the realisation that these so called phone promoters sell fake and sub-standard products.
Igolirrus Sampson, who was once a victim said he has gotten wiser, adding that the message of fake phones has been circulated throughout Abua.
Speaking to our correspondent, Mr. Johnbull Isikima, a retired teacher called on SON to extend their operations to the rural areas.
He said it was not enough for SON to concentrate their operations in Abuja and Lagos or the major cities of the country.
It could be recalled that SON in a bid to rid mobile phone markets in the country especially the Lagos Computer village of fake and substandard phones has planned to review its relationship with market associations.
Addressing journalists recently in Lagos, Head of Inspectorate and Compliance Department of SON, Mr. Bede Obayi accused the Computer Village Traders Association of Conspiring with miscreants to prevent SON from carrying out enforcement to sanitise the phone market.
He also accused the phone and Allied Products Dealers. Association of discouraging the raid, adding that during the enforcement, exercise, SON targeted Trinity technologies and Communications Limited which were known to be the brains behind such trade.
The Tide further gathered that the firm brings in unbranded phones and brand them with major brands thereby making unsuspecting Nigerians patronize them.
He described the action as unpatriotic as it fools Nigerians and short change the original owners of dividends in their investments.
“We carried out a surprise raid at the warehouse where these accessories were stockpiled. The owner/importer is a Chinese national, one of those who specialise in brining fake phones and accessories into Nigeria”, he said.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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