News

Senate Summons Seven MDAs Over Alleged Lopsided Disbursement Of N500bn Loan

Published

3 years ago

November 25, 2022

Senate has commenced investigation over alleged uneven disbursement of half a trillion naira loans to the Micro, Small and Medium Enterprises scheme, (MSMEs) in the six geo-political regions by the Development Bank of Nigeria, (DBN).
The adhoc committee in furtherance of its mandate has summoned seven Ministries, Departments and Agencies, MDAs for interface over the alleged lopsided disbursement.
The MDAs summoned are the Ministry of Finance, Budget and National Planning; Ministry of Trade and Investment; Central Bank of Nigeria, (CBN) Development Bank of Nigeria, (DBN) Small and Medium Enterprises Development Agency, (SMEDAN); Bank of Industry (BoI) and the Bank of Agriculture (BoA).
The Senate had constituted an adhoc committee, following a November 16 resolution at the plenary on a motion titled: “Uneven Disbursement of half a trillion naira loan to six geo-political regions by the DBN.”
The mandate of the committee, chaired by Senator Sani Musa (APC Niger East) was to carry out a holistic investigation on disbursement of the loan by DBN since inception of the bank.
Speaking at the maiden meeting of the committee on Tuesday, Senator Musa said the purpose of the meeting was to map out strategies and modalities that would assist the committee execute the onerous assignment.
He, however, said although the investigation seems very daunting, with patriotism, cooperation and commitment, the committee would succeed.
Senator Musa explained that the establishment of DBN was to drive the effectiveness of MSMEs and the environment they operate, adding that its establishment was a good idea by the Federal Government and its development partners.
The chairman added that the key objective of the DBN was to tackle constraints faced by MSMES through provision of finance and partial credit guarantees to eligible financial intermediaries on a market conforming financial sustainable basis.
He, however, said that there are worries on the disbursement methodology employed by the bank and lack of awareness of its operation, saying that not every MSMEs in the regions , especially in the North knows about the bank.
According to him, the committee will effectively and thoroughly investigate activities and operations of the DBN to ascertain if it conformed to its establishment Act, followed due diligence in execution of its mandate.
Senator Musa said the committee was not out to witchhunt any one, but would evaluate the criteria that qualify MSMEs to access the loan and at what interest rate.
He said the committee would also review the total amount disbursed to beneficiary MSMEs from inception to date and total recovery if any.

The chairman also said the committee would examine the source of funding of DBN including contributions from development partners.

Presenting the motion on November 16, Senator Ali Ndume (APC Borno South), said the investigation was part of what was happening in the financial sector that government deliberately created to address poverty.

According to him, what happened in DBN was unfortunate, saying that his submissions on the motion on uneven distribution of the MSMEs loan was not an allegation but a fact that has not been disputed by DBN.

By: Nneka Amaechi-Nnadi, Abuja

News

198 UNIBEN Students Bag First Class

Published

4 days ago

November 24, 2025

The Tide

A total of 198 students of the University of Benin (UNIBEN ) Edo State, bagged a First Class degree out of 14,083 students to be awarded first degree at the institution’s 51st Convocation and Founder’s Day ceremony.

Vice Chancellor of UNIBEN, Prof. Edoba Omoregie, disclosed this on Monday in Benin at a pre-convocation press briefing.

He said 4,217 students bagged a Second Class Upper, 7, 928 got a Second Class Lower, while 578 bagged a Third Class degree.

He said 15 new approved programmes by the National Universities Commission (NUC) would commence in the 2025/2026 academic session.

According to him, “The wheel of progress is on course and moving steadily in the University of Benin. This administration is poised to deliver on its mandate of effective, practical teaching, sound learning, result-oriented research and impactful community service.

“We must applaud the President Bola Ahmed Tinubu, for establishing NELFUND, and by so doing significantly reducing the financial stress of students in the process of acquiring tertiary education. We enjoin students and their parents to take full advantage of the federal government’s benevolence in instituting the fund.”

Prof. Omoregie disclosed that Nigeria’s Minister of Regional Development, Engr. Abubakar Momoh, would deliver the Founders’ Day lecture with the topic, “Reforms for a Shared Prosperity”.

The UNIBEN VC said Director General of the Nigerian Institute of International Affairs and Former Vice Chancellor of Igbinedion University, Okada, Edo State, Professor Eghosa Osaghae, would deliver the Convocation Lecture on the theme, “Making Our Universities Great”.

News

Bayelsa Education Fund, British Council trains tra 1,000 teachers

Published

4 days ago

November 24, 2025

The Tide

The last batch of 400 public school teachers in Bayelsa State on Monday commenced training under the sponsorship of Bayelsa Education Development Trust Fund (EDTF) and the British Council.

This batch will bring to 1000 the number of public school teachers in the state who have benefited in the partnership arrangement.School supplies

The EDTF, British Council and Teachers Training, Registration and Certification Board collaborated in the capacity development programme.

Speaking at the opening ceremony of the five day capacity building program, Commissioner for Education Dr Gentle Emelah reiterated the commitment of the Bayelsa government to training and capacity of teachers in the state.

He noted that the improved teaching methodology in the state was responsible for the state producing the best student in the 2025 West African School Certificate Examinations.

Prof Ebimiowei, Executive Secretary at EDTF, noted that the collaboration is aimed at improving learning outcomes for pupils and students of public primary and secondary schools in Bayelsa.

“You will agree with me that until the cutlass is sharpened, it will have no impact on the hands of the farmer and so it is with our teachers., you need to be sharpened very well to give good delivery in your various classes and schools.

“Let me at this juncture appreciate the British Council for accepting to train 1,000 teachers, 50 education managers and 60 trainers for Bayelsa,” he said.

On his part, Chairman of the EDTF board, High Chief Fidelis Agbiki expressed appreciation to the Commissioner for Education Dr Gentle Emelah for his supportive role to the fund.

Agbiki urged the beneficiaries to justify the enormous resources invested by the government of Bayelsa by being dedicated within the five days the exercise would last.

He said; “This board will not operate on business as usual but on business unusual as we will push the frontiers outside the box to ensure that we get value for money,” Agbiki said.

Chairman of Development Partners Committee of the EDTF applauded the commitment of the partners for the successful completion of the programme, urging them to sustain the tempo

Speaking on the programme, Mr Fwanshishak Daniel, Head, English and Schools, British Council noted that the Bayelsa government had shown exemplary commitment to educational development.

He explained that the commitment has enabled the British Council and Bayelsa government to achieve within one year greater milestones that took other states three years to achieve.

He explained that the resources of the British Council have been made available to Bayelsa with the training of 60 resource persons from the state who will in turn train other teachers to improve education.

According to Daniel, the training will lay emphasis on new teaching methods, use of digital tools for self development and access to school amongst others.

Dr Peremoboere Ogola, Acting Chairman of TTRC, which facilitated training, thanked the EDTF for supporting training of teachers in Bayelsa with world class resources of the British Council.

She noted that another batch of newly recruited teachers are currently undergoing training at State government owned University of Africa, Toru Orua, Sagbama LGA in Bayelsa

News

RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE

Published

4 days ago

November 24, 2025

The Tide

The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.

The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.

Dr Anabraba who also serves as Chairman of the Committee

highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.

“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.

Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.

The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.