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Nigeria News (Standard)

Standard Bank Moves to Boost ₦22.6trn SME and Trade Expansion in Lagos, Abuja, Kano

Bank to deepen operations in Nigeria alongside Ghana, Kenya, Uganda and Tanzania as it targets rising intra-African commerce

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Bank to deepen operations in Nigeria alongside Ghana, Kenya, Uganda and Tanzania as it targets rising intra-African commerce

Standard Bank Group has announced plans to scale up its presence in Nigeria’s major commercial centres, including Lagos, Abuja and Kano, as part of a broader strategy to capture a $15.4 billion (about ₦22.6 trillion) revenue opportunity across Africa. The move was revealed by Bill Blackie, Chief Executive Officer of the bank’s Business and Commercial Banking division, in an interview on Wednesday.

According to Blackie, Standard Bank will focus on expanding its services for small and medium-sized enterprises (SMEs) and supporting increased intra-African trade. Nigeria, together with Ghana, Kenya, Uganda and Tanzania, forms the core of this new growth initiative—these five markets make up roughly 85 percent of the bank’s projected business banking revenue over the next two years.

The expansion comes as SMEs in Nigeria face growing demand for accessible finance and reliable cross-border banking services. Analysts say Standard Bank’s strategy could help close funding gaps faced by businesses operating within ECOWAS and the wider African Continental Free Trade Area (AfCFTA). The bank has already reported strong growth in its business banking segment across Africa over the past five years.

“We are seeing robust demand for banking services from businesses across the continent,” Blackie said. He added that Standard Bank aims to leverage its established regional footprint to support Nigerian entrepreneurs looking to expand both locally and into neighbouring countries. The bank intends to consolidate its existing dominance in South Africa while driving fresh investment into the Nigerian market.

Industry observers note that this move signals renewed confidence in Nigeria’s commercial potential despite persistent challenges such as inflation—recently at 33.7 percent according to National Bureau of Statistics—and naira volatility against the dollar. Stakeholders expect increased competition among lenders could lead to improved access to capital for SMEs nationwide. Implementation of Standard Bank’s expansion will continue through 2028, with further details on new product offerings expected later this year.

Source: https://guardian.ng/business-services/standard-bank-targets-nigeria-in-15-4b-sme-trade-expansion-drive/

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Nigeria News (Standard)

Akwa Ibom Magistrate Orders Journalists, Complainant Out of Court During Herder Trial

Proceedings in Uyo disrupted as magistrate directs media and complainant to exit courtroom during case involving alleged herder

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Proceedings in Uyo disrupted as magistrate directs media and complainant to exit courtroom during case involving alleged herder

A magistrate sitting in Uyo, Akwa Ibom State, on Saturday ordered journalists and the complainant to leave the courtroom during a trial involving an alleged herder. The directive came as proceedings were underway, forcing media representatives and the person who filed the complaint to vacate the premises.

The decision by the magistrate halted public observation of the case, which has drawn attention due to ongoing tensions around land use and security in parts of Akwa Ibom. The specific charges against the accused herder were not disclosed in open court before those present were asked to leave.

Court cases involving herders have become increasingly sensitive in Nigeria’s South-South region, with stakeholders highlighting concerns about transparency and access to justice. Legal observers say that excluding journalists from such hearings may undermine public trust in judicial processes, especially on matters with social and security implications.

Efforts to obtain an official statement from court authorities were unsuccessful as at press time. There was also no immediate response from law enforcement agencies involved in the prosecution of the matter.

It remains unclear whether future hearings will be open to the public or if similar restrictions will continue. The development has prompted renewed debate among civil society groups about courtroom access and accountability within Akwa Ibom’s justice system.

Source: https://www.premiumtimesng.com/news/headlines/889217-akwa-ibom-magistrate-orders-journalists-complainant-out-of-court-during-herder-trial.html

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Nigeria News (Standard)

Edo Governor Okpebholo Approves Death Penalty for Convicted Kidnappers, Orders Public Execution in Benin City

Special court to fast-track kidnapping cases as police receive ₦10 million reward after rescuing abducted woman

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Special court to fast-track kidnapping cases as police receive ₦10 million reward after rescuing abducted woman

Governor Monday Okpebholo of Edo State has announced plans to sign death warrants for convicted kidnappers and order their public execution at Ring Road roundabout in Benin City. The declaration was made on Thursday during his visit to the Edo Police Command Headquarters, following the recent rescue of a kidnapped woman and arrest of suspected kidnappers.

Okpebholo stated that a special court will be established to handle cases of kidnapping and cultism, with trials to be concluded within two weeks. He stressed that anyone convicted under the new arrangement would face execution by hanging in full public view. “I will sign it, the execution by hanging. I will take you to the roundabout that is Ring Road roundabout so that the whole Edo people will see you,” the governor said during his address.

The move comes after security operatives apprehended suspects involved in the abduction of a woman at Vegetable Market along Airport Road. Among those paraded was Marvellous Issac, 32, alleged leader of the gang, which reportedly collected ₦2.2 million ransom. The police recovered a Lexus RX350, pump-action shotgun, ammunition and a motorcycle from the suspects; one gang member was killed during the operation while two others remain at large.

Governor Okpebholo commended the swift action of security agencies and attributed their success to collaboration with the Inspector General of Police and use of drone technology. He rewarded the police squad responsible for the rescue with ₦10 million and warned residents against harbouring criminals, saying anyone found culpable would not be spared.

Edo State Commissioner of Police, Monday Agbonika, praised cooperation among security agencies but cautioned against fake news spreading fears about school attacks in the state. He clarified that recent reports were unfounded but had caused panic among parents. Agbonika also warned against self-kidnapping schemes emerging in Edo, describing such acts as criminal offences liable to prosecution.

Okpebholo reaffirmed his administration’s hard stance on insecurity: “Do not take my simplicity for granted; no kidnapper will find safety in Edo.” The government is expected to roll out guidelines for establishing the special court within weeks as part of its intensified response to rising concerns over kidnapping and violent crime.

Source: https://www.pulse.ng/story/edo-governor-pledges-to-sign-death-warrants-for-convicted-kidnappers-pushes-for-public-execution-2026062009173815432

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Nigeria News (Standard)

FG Disburses ₦13bn Interest-Free Loans to 7,450 Tertiary Institution Workers Nationwide

Disbursement targets academic and non-academic staff as government moves to ease economic pressure on university employees

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Disbursement targets academic and non-academic staff as government moves to ease economic pressure on university employees

The federal government has disbursed a total of ₦13 billion in interest-free loans to 7,450 workers across tertiary institutions in Nigeria, officials confirmed on Saturday. The initiative, covering both academic and non-academic staff, aims to provide financial relief amid rising living costs for university employees.

According to details released by authorities, the loans are structured without interest charges and are accessible to eligible workers in federal universities, polytechnics, and colleges of education nationwide. The programme was rolled out this June as part of ongoing efforts by government to address welfare challenges facing the education sector workforce.

The move comes at a time when many lecturers and administrative staff have called for improved support and better working conditions. Economic pressures—including persistent inflation and currency devaluation—have reduced the real value of salaries for many Nigerians in the education sector. Government said the loan scheme is one of several interventions designed to cushion the effects of recent economic reforms.

While some stakeholders welcomed the disbursement as a positive step, others urged government to ensure transparency in loan allocation and follow up with more sustainable welfare measures. “This will go a long way if properly managed,” one university staff member said, but added that more comprehensive reforms remain necessary.

Officials stated that monitoring mechanisms have been put in place to track utilisation of the loans. Further phases of support may be announced after review of this initial rollout, as government continues discussions with unions representing tertiary institution workers.

Source: https://www.premiumtimesng.com/news/top-news/889227-nigerian-govt-disburses-n13-billion-interest-free-loans-to-7450-tertiary-institution-workers.html

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