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Edo, BoI Unveil Fund For 50,000 Entrepreneurs

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3 years ago

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The Edo State Government and the Bank of Industry (BoI), have unveiled a Micro, Small and Medium Enterprise (MSME) development fund worth N2 billion to support entrepreneurs in the state.
The fund was launched during a citizens’ engagement session organised by the Edo State Skills Development Agency, also known as Edo Jobs, held at the Government House in Benin City.
Speaking at the event, Governor Godwin Obaseki said, “The Bank of Industry (BoI), which is a reliable partner, is here today to launch the MSME fund. The initial amount is N2 billion. Edo State Government provided N1 billion, while BoI provided the other N1 billion, making it N2 billion, with an attractive interest rate.”
”In addition, we have a N165 million fund, as part of the first tranche from the Edo State Government. It will be made available to small businesses, which are currently domiciled in our production hub, to support and encourage them to grow their businesses.
“BoI has the capacity and resources to support this kind of programme. From this N2 billion fund, we estimate that we can impact as many as 50,000 businesses in Edo State. We have other facilities with other institutions like the Central Bank of Nigeria (CBN). This is a start-up fund, as we expect it to continue to grow: If you start with N50,000, now and when you do well tomorrow in your business, you will need N200,000.
Borrowing is part of business, provided you continue to grow,” the governor stated.
The Governor assured that despite the Covid-19 pandemic, his administration remained committed to improving the livelihoods of the people and creating opportunities for the youths to thrive.
He stated: “We have continued to create opportunities for Edo youths as our administration is open, transparent and competent in all we do. We urge Edo people to trust us, as all the opportunities that we present are real, and life-transforming for Edo people.”
On his part, Managing Director/Chief Executive Officer, BoI, Mr. Olukayode Pitan, said that “in a quest to grow and develop MSME businesses in the country, the bank has resolved to continue to collaborate with existing enterprises, as well as reputable local and international partners.
“This MSME fund is aimed at providing business loans to enterprises located within the state, while the second fund is the N165 million Edo Production Hub Fund, financed by the Edo State Government. The Edo Production Hub Fund is managed by the BOI and is to support businesses located within the state-owned production hub.”
Later, the governor and his team, as well as his guests were also taken on a guided tour of the Edo Production Hub. They also commissioned the new Bank of Industry building in Benin City.

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City Crime

Monarch Recommits To Peace, Security Of Ekpeye Land

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8 hours ago

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May 8, 2024

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 Eze Ekpeye Logbo III, His Imperial Majesty, Eze Kelvin Ngozi Anugwo, has reiterated his commitment to peace, security and development of Ekpeye land.
Eze Anugwo stated this last Saturday, during the 2nd anniversary of his coronation, in his palace at Ula – Upata Community, in Ahoada East Local Government Area of Rivers State.
 Anugwo who recalled  the painful incident that led to the detention of all the first class traditional rulers in Ekpeye land, appealed to Police authorities not to arrest any other traditional ruler.
Eze Ekpeye Logbo III called for a minute silence in honor the  slain Divisional Police Officer, SP Bako Angbashim and prayed  that the ghost of Bako should continue to haunt those responsible for his death.
He also hinted how he scaled through the keenly contested election of Eze Ekpeye Logbo held in 2022, at Ahoada, the administrative headquarters of Ekpeye Kingdom and thanked his guests for honouring him.
In their separate solidarity speeches, Ada Ekpeye Logbo, Dr. Patricia Wudhiga Ogbonnaya; the President- General of Uzugbani Ekpeye, Dr. Michael Ukechukwu Nyemenim; His Royal Highness, Eze Macauley Esonwo among other speakers extolled the virtues of the celebrant.
While pledging their unalloyed support to the administration of Eze Ekpeye Logbo III, they equally charged him to be stronger.
High points of the occasion include visitation of the ancestral home of Ekpeye people Ula-Ubie Community in Ahoada West Local Government Area, where the King was crowned;  thanksgiving service at the First African Church Ula-Upata and presentation of assorted drinks by the people of Igbu Orlukowor clan.
Recall that Anugwo, a business mogul, who beat three other contenders to emerge as the Eze Ekpeye Logbo III, in an election conducted on April 9, 2022 and was crowned on May 4, 2022  following the demise of His Imperial Majesty, Eze (Flt. Leut.) Robinson O. Robinson (rtd.).
The Tide learnt that Eze Anugwo, until his emergence as the Eze Ekpeye Logbo III, was occupying other traditional offices such as the Nye-Udu (King) Ede I, Agida Ekpeye II, and a member of corporate and professional bodies.
Present at the colourful occasion include the  Rivers State Commissioner for Housing, Dr. Gift Worlu, who represented Rivers State Governor Siminalayi Fubara; His Majesty, Eze (Hon.) Cassidy O.W Ikebhidhi, Eze Igbu Akoh II; His Majesty, Eze Chinemerem Idoke, regent of Igbu Ehuda;  High Chief (Prof.) Kingsley Beke Kalagbor; High Chief Peter Wobeareri Wagbara, (Nye Weli Elele); ACP Cecy Brown, Ahoada Area Commander; among other dignitaries.
 Agimo, Emenike Benson
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City Crime

Delta Attorney-General Laments Hike In Human Trafficking

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2 months ago

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March 6, 2024

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Delta State Attorney-General and Commissioner for Justice, Ekemejero Ohwovoriole (SAN) has lamented the increasing rate of human trafficking, especially the girl child in the state.
Ohwovoriole decried the increase in his office in Asaba when the zonal commander of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Mr Nduka Nwawenne paid him a courtesy visit.
The Attorney-General stated that it was against the dignity of the state and disheartening to see that Delta State now ranked first in human trafficking, overtaking Edo State.
He stressed the need for stakeholders to tackle the menace, adding that if it was one single victim that was rescued, they would be rewarded for their efforts.
Ohwovoriole stated that young girls were the most vulnerable ones in the issue of human trafficking, stressing that children from poor family backgrounds also fall victim to human trafficking.
While saying that their request for an office space in the state would be looked into, to see how the government could be of assistance to them, he assured them of his ministry’s partnership in the fight against human trafficking.
He said that the Task Force on human trafficking and irregular migration, which he chairs, should be having regular meetings.
Earlier, the Zonal Commander of Naptip, Mr. Nwawenne informed the commissioner that Delta state had overtaken Edo state as the foremost state in human trafficking in nigeria.
He told the Attorney-General that their Zonal Command was the first to be established in Nigeria because of the prevailing issues of human trafficking in the area, noting that ika south was the highest in cases of human trafficking as a result of its proximity with edo state.
Nwawenne appealed to the Commissioner and the State Government to provide office accommodation for their officials to operate in Asaba.

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Army Arrests 50 Foreigners, Others For Job Racketeering

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5 months ago

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December 1, 2023

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The Nigerian Army said it has arrested 50 suspects, including foreigners, for alleged international job racketeering in Lagos.
The Director, Army Public Relations, Brig. Gen. Onyema Nwachukwu, who addressed journalists in Abuja, on Wednesday, said the suspects were arrested during an operation jointly conducted by the Army and the Nigeria Immigration Service.
He also disclosed that no fewer than 13 criminals were killed and 88 arrested during various operations across 20 states of the federation.
Among those arrested include 50 suspects comprising foreigners who were nabbed for alleged International job racketeering.
Onyema said, “In the South-West region, on November 2, 2023, troops of 9 Brigade Nigerian Army in conjunction with personnel of Nigerian Immigration Service, Lagos State Command, conducted a raid operation on a suspected criminal hideout at Ifako Ijaye.
“During the operation, 50 suspects, including foreigners who specialise in international job racketeering, were arrested. In a similar development same day, the same troops arrested two suspects at a hotel in Ogba in the Ikeja LGA.
“The arrest was in connection with the murder of one Mallam Idris Ardo, the Ardo of Panya Village in Plateau State. Preliminary investigation revealed that one of the arrested suspects masterminded the killing of Ardo and fled the community since the incident occurred.”

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