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Nigeria News (Standard)

Advans La Fayette MFB Raises ₦6bn in Lagos to Expand SME Lending Amid Investor Confidence

Debut commercial paper issuance oversubscribed as bank targets increased financial inclusion for MSMEs nationwide

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Debut commercial paper issuance oversubscribed as bank targets increased financial inclusion for MSMEs nationwide

Advans La Fayette Microfinance Bank has secured ₦6 billion through its first commercial paper issuance in Lagos, marking a significant boost for small business financing. The deal, completed under the bank’s ₦20 billion programme on Tuesday, comes as micro, small and medium-scale enterprises (MSMEs) across Nigeria face persistent funding constraints.

The series one commercial paper was oversubscribed, reflecting strong investor confidence in Advans La Fayette’s governance structure and business prospects. The funds are intended to strengthen the bank’s liquidity position and diversify its sources of finance, enabling it to extend more credit to MSMEs—a sector widely regarded as central to employment generation and economic growth in Nigeria.

Industry analysts say access to affordable finance remains a major challenge for many Nigerian entrepreneurs, especially as inflation and naira volatility continue to squeeze working capital. Financial inclusion has become a national priority, with government and private sector stakeholders seeking new ways to unlock funding for the over 39 million MSMEs operating in the country.

Speaking at the signing ceremony in Lagos, Chief Executive Officer of Advans La Fayette Microfinance Bank, Elvis Kwabena Oheneba, described the transaction as a “strategic milestone” for the institution. “This successful issuance will support our long-term growth ambitions and strengthen our ability to serve MSMEs,” Oheneba said. He noted that the oversubscription of the offer demonstrates investors’ trust in the bank’s business model and future outlook.

With this fresh capital injection, Advans La Fayette says it will deepen its outreach to underbanked communities and enhance product offerings tailored for small businesses. The bank is expected to leverage its expanded funding base to support innovation within Nigeria’s MSME ecosystem. Further issuances under its ₦20 billion programme are anticipated as part of broader efforts to improve access to finance for entrepreneurs nationwide.

Source: https://guardian.ng/business-services/mfb-raises-n6-billion-from-commercial-paper-to-boost-sme-financing/

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Nigeria News (Standard)

Armed Men Burn NSCDC Checkpoint, Abduct Resident in Kebbi’s Sakaba LGA

Attackers set security post ablaze in Dankolo community; police launch search for missing local as tensions rise

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Attackers set security post ablaze in Dankolo community; police launch search for missing local as tensions rise

Suspected armed men attacked a checkpoint manned by the Nigeria Security and Civil Defence Corps (NSCDC) in Dankolo, Sakaba Local Government Area of Kebbi State, on Monday, setting the structure on fire and abducting a resident from the community. The incident, which occurred in the early hours, has heightened security concerns among locals in the North-Western state.

According to eyewitness accounts, the assailants stormed Dankolo around midnight, targeting the NSCDC post along a major access road before burning it down. Residents reported that one individual was seized during the raid and taken to an unknown location. The identity of the abducted person has not yet been made public by authorities.

This latest incident adds to a series of attacks that have affected rural communities across Kebbi and neighbouring states. The North-West zone continues to grapple with insecurity linked to criminal gangs targeting security agents and villagers alike. Many locals say they now live in fear of further attacks due to limited presence of law enforcement personnel outside major towns.

The Kebbi State Police Command confirmed the attack and arson on the NSCDC checkpoint, saying efforts were underway to rescue the abducted resident. A senior officer who spoke on condition of anonymity said reinforcement had been deployed to Sakaba LGA. “We are working with other agencies to ensure those responsible are brought to justice and to strengthen patrols in vulnerable areas,” he stated.

Security analysts warn that repeated assaults on security outposts undermine public confidence and make it harder for authorities to respond quickly during emergencies. Community leaders in Sakaba have appealed for more support from both state government and federal agencies to improve surveillance and protect residents from further harm.

Source: https://www.premiumtimesng.com/news/more-news/889728-terrorists-burn-nscdc-checkpoint-abduct-resident-in-kebbi-community.html

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Nigeria News (Standard)

Troops Rescue Three Kidnap Victims, Foil Armed Attacks in Kaduna and Zamfara

Army recovers weapons, arrests suspects as operations intensify in North-West amid rising insecurity concerns

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Army recovers weapons, arrests suspects as operations intensify in North-West amid rising insecurity concerns

Troops of Joint Task Force North West Operation FANSAN YAMMA have rescued three kidnapped victims and disrupted multiple terrorist plots during coordinated operations across Igabi Local Government Area of Kaduna State and parts of Zamfara State. The operations, which took place on June 18, were confirmed by the Nigerian Army in a statement issued Monday.

According to the Army, troops from Sector 1 responded swiftly to a distress call about armed bandits moving within a forest area in Kerawa, Igabi LGA. During the search operation, the soldiers rescued Mrs Bilkisu Hayatu (38), Mrs Habibah Sadisu (30), and a one-year-old child, Abdulmutallib Sadisu. The victims had been abducted earlier that day while travelling in the area.

The Army further disclosed that similar intelligence-driven missions were executed in Zamfara State by Sector 2 troops, leading to the arrest of several suspects and recovery of assorted weapons and logistics believed to be used for criminal activities. The military said these operations are part of ongoing efforts to combat banditry and secure communities across the North-West geopolitical zone.

In its official statement released via X (formerly Twitter), the Nigerian Army said: “Our troops remain committed to safeguarding lives and property in all affected areas. These successful rescue and counter-terror operations reflect the resolve to deny criminal elements freedom of action.” As at press time, no casualties were reported among security personnel or civilians during these engagements.

Security analysts have noted an uptick in coordinated attacks by armed groups across Kaduna and Zamfara States since early June, with several local communities calling for increased federal intervention. While government has ramped up troop deployments in recent weeks, many residents remain displaced or fearful of renewed attacks as farming season begins.

The Army urged citizens to continue providing timely information on suspicious movements within their neighbourhoods. Efforts to reach opposition parties or civil society groups for comment on ongoing security operations were unsuccessful as at Monday afternoon.

Source: https://guardian.ng/news/nigeria/metro/troops-rescue-kidnap-victims-crush-terror-plots-in-kaduna-zamfara/

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Nigeria News (Standard)

Salah Leads Egypt to Historic FIFA World Cup Victory Over New Zealand

Egypt secures milestone win in group stage as Salah shines, boosting hopes for African teams at the tournament

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Egypt secures milestone win in group stage as Salah shines, boosting hopes for African teams at the tournament

The Egyptian national football team, led by captain Mohamed Salah, clinched a historic victory over New Zealand in their FIFA World Cup group stage match on Monday. The encounter, which took place at an international venue, saw Salah play a pivotal role as Egypt secured an important three points in their quest for knockout qualification.

Egypt dominated proceedings from the opening whistle, with Salah orchestrating several attacking moves and contributing significantly to the team’s performance. The victory marks a notable achievement for Egypt at the World Cup, as they continue to push for a place in the competition’s next round.

This result is particularly significant for African football, with many supporters and analysts highlighting Egypt’s win as a positive development for the continent’s representation on the global stage. The team’s strong showing under Salah’s leadership has raised hopes that more African sides can advance further in the tournament.

No official statements had been issued by the Egyptian Football Association or FIFA as at press time. However, observers note that this victory could serve as a morale boost for both players and fans alike. Efforts to reach New Zealand’s team management for comment were unsuccessful.

Egypt will face their next group opponent later this week as they look to build on this momentum. Football enthusiasts across Africa will be watching closely to see if Salah and his teammates can make further history in this year’s World Cup.

Source: https://www.premiumtimesng.com/news/more-news/889713-world-cup-salah-leads-egypt-to-historic-win-over-new-zealand.html

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