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CBN Begins Disbursement Of N220bn MSME Fund, August

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Barring any last minute change, the Central Bank of Nigeria (CBN) will from next month commence the disbursement of its N220billion Micro, Small and Medium Enterprises intervention fund.
The Governor of the apex bank, Mr. Godwin Emefiele, disclosed this yesterday in Abuja during the signing of a Memorandum of Understanding between the bank and governors from 11 states.
The MoU, signed at the apex bank’s headquarters had in attendance governors from Delta, Akwa Ibom, Osun, Oyo, Bayelsa, Gombe, Zamfara, Enugu, Ondo and Benue states.
The CBN governor said the flag off of the disbursement would be done by President Goodluck Jonathan, noting that the fund would be given to Nigerians at a single digit interest rate of nine per cent.
Emefiele said that based on the guidelines of the fund, each state of the federation would be able to access the sum of N2billion which would be administered through Micro Finance Banks.
The governor, who put the funding gap of the sector at about N9.6trillion as at 2010 said, “As a country, we don’t have a choice than to support the youth by taking actions to engage their energy positively by creating jobs for them.
“We would work with you to ensure that it gets to the beneficiaries directly at a maximum rate of nine per cent, 60 per cent of this money will go to women
“The disbursement of the loan will kick-off in August and we want the President to personally kick-start the process in August.”
He said the CBN fund would focus on resolving challenges such as access to collateral and enterprise development support.
The governor said since the country has a large proportion of youths, there is an urgent need to engage their energy positively in productive sectors that would create jobs and reduce poverty.
This, he added, underscored the need for the apex bank, in pursuit of its developmental mandate to release the fund at a single digit interest rate for the development MSMEs.
Emefiele said as part of measures aimed at ensuring inclusive growth for the economy, 60 per cent representing N132billion out of the fund had been set aside for women.
He said, “We are starting with N220billion and I can assure you that once this amount is fully applied we would seize opportunity to increase it.

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RIFF 2026: RIFF Takes Film Tourism to Bonny Island

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The Rivers International Film Festival (RIFF) 2026 is set to make a significant impact on Nigeria’s creative and tourism landscape as filmmakers, industry professionals, cultural enthusiasts and international guests converge on the historic and culturally rich Bonny Island, Rivers State, for the fourth edition of the festival.
Scheduled to hold from 29 October to 1 November 2026, RIFF 2026 is expected to bring together creative talents from Nigeria and across the world for four days of film screenings, industry conversations, masterclasses, networking opportunities, cultural experiences and celebrations of cinematic excellence.
The festival is being organised around the theme, “Film Tourism: A Pathway to Economic Development,” highlighting the powerful relationship between the film industry, tourism and the wider creative economy. This is with the view to Promote Cultural Preservation, Youth Empowerment and Economic Development.
Speaking on the forthcoming fourth edition of the festival, the founder, Rivers International Film Festival/National Chairman Film Festivals Association of Nigeria, Kate Ezeigbo said that the efforts of RIFF in conjunction with the Rivers State government have not gone unnoticed.
According to her, “The growing significance of the Rivers International Film Festival has received commendation from the Honourable Minister for Arts, Entertainment , Culture and Creative Economy, Hannatu Musawa, who acknowledged the important role being played by the Rivers State Government and RIFF in advancing the creative sector.
The Minister stated:
“I am aware that the Rivers State Government, backed by the Rivers International Film Festival, partnered with Entertainment Stakeholders, encourages the use of film and art for cultural preservation and youth empowerment. This really will make Nigeria the cultural and creative hub of Africa and Rivers State is taking a huge step in claiming that position.”
The commendation is seen as a major recognition of the festival’s vision and its commitment to using the creative industry as a vehicle for cultural development, youth engagement, tourism promotion and economic growth.
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Soyinka Demands Accountability Over Extra-Judicial Killings

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Nobel Laureate, Professor Wole Soyinka, has called on Nigerians to reject silence in the face of extrajudicial killings and other abuses of human rights.

Soyinka stressed that accountability and civic courage remain essential to rebuilding public confidence in the nation’s institutions.

He  made the call  during the 28th Wole Soyinka Lecture held in Port Harcourt, last Friday as part of activities marking his 92nd birthday.

The lecture, themed “Reclaiming the Nigerian State through Accountability, Justice and Civic Courage,” drew participants from different sectors of society.

The renowned playwright and human rights advocate said the country’s greatest tragedy was not only the unlawful killings carried out by state and non-state actors, but also the silence that often follows such incidents, allowing perpetrators to evade justice.

According to him, indifference by citizens to abuses of power and violations of fundamental human rights has contributed to the persistence of extrajudicial killings and other forms of injustice across the country.

Soyinka said he dedicated this year’s lecture to victims of unlawful killings, noting that the event was intended to honour individuals who had lost their lives as a result of failures within the justice system and society’s inability to protect the sanctity of human life.

He stressed that the lecture was dedicated to what he described as the basic unit of every society – the human being, and urged Nigerians to place greater value on human dignity irrespective of ethnicity, religion or social status.

The Nobel Laureate recalled several incidents of violence, including the fatal shooting and killing of a young man in Ugheli in Delta State  by a police officer, and the mob killing of Deborah Yakubu in Sokoto State sometime ago, lamenting that many of those responsible are yet to face justice.

He expressed concern that some perpetrators of violent crimes had openly admitted their actions without fear of prosecution, describing such situations as evidence of serious failures within the nation’s justice system.

Soyinka maintained that when justice is delayed or denied, public confidence in state institutions continues to erode, thereby encouraging further violations of human rights.

Responding to critics who accuse him of promoting religious or ethnic divisions whenever he spoke on such issues, Soyinka dismissed the allegations and pointed out that his advocacy has always centred on the protection of human life and the rule of law.

He urged Nigerians to remain vigilant and continue demanding justice in cases of alleged extrajudicial killings, including the recent shooting of a young man by a police officer, stressing that every life deserves equal protection under the law.

The literary icon also recalled an earlier pledge by a past incoming president to make public the files relating to unresolved assassinations and extrajudicial killings, questioning the status of the promised investigations.

He challenged citizens to continue asking questions about unresolved cases, insisting that justice, accountability and respect for human dignity are indispensable to building a peaceful, democratic and inclusive Nigerian society.

 

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FAAN Backtracks, Says No Fire Incident At Lagos Airport’s Terminal 2

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The Federal Airports Authority of Nigeria (FAAN) has clarified that there was no fire at Terminal 2 of the Murtala Muhammed International Airport, Lagos, contrary to its earlier advisory.

Earlier yesterday, FAAN had announced that a fire incident had occurred at Terminal 2 of the nation’s busiest airport, and assured that its Aerodrome Rescue and Firefighting Service had been deployed to contain the situation.

There were also reports that activities were briefly disrupted at the airport yesterday after smoke was seen inside parts of the terminal.

Videos circulating online showed passengers kept standing outside the terminal while firefighters responded to the incident.

However, in an update issued less than two hours later by the Director of Public Affairs and Consumer Protection, Henry Agbebire, and posted on FAAN’s official X handle, the authority said preliminary findings showed that the smoke seen at the terminal was caused by the discharge of the facility’s FM-200 fire suppression system.

“Further to our earlier advisory regarding the incident at Terminal 2 of the Murtala Muhammed International Airport, Lagos, the Federal Airports Authority of Nigeria (FAAN) wishes to provide the following update,” the statement read.

“Preliminary findings indicate that there was no fire at the terminal. The smoke observed within the affected area resulted from the discharge of the terminal’s FM-200 fire suppression system. The reason for the activation of the fire suppression system is currently being investigated,” FAAN stated.

The authority said normal operations had resumed at the terminal while investigations were ongoing to determine the cause of the incident.

“Normal operations have since resumed at the terminal, while detailed investigations are ongoing to determine the exact cause of the incident,” the statement added.

The authority thanked passengers, airlines, airport users and other stakeholders for their understanding and cooperation.

FAAN appreciated the understanding and cooperation of passengers, airlines, airport users and all stakeholders, and reiterated its commitment to the safety and security of all airport operations.

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