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SMEDAN Signs Memorandum Of Agreement With Micro Finance Banks

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SMEDAN

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on Tuesday in Abuja, signed a Memorandum of Agreement with 15 Micro Finance Banks for the implementation of the One Local Government, One Product (OLOP) programme.

OLOP is SMEDAN’s flagship programme positioned to make a significant contribution to the growth of the economy as well as in meeting the goals of the Africa Continental Free Trade Area Agreement (AfCFTA).

Speaking at the signing of the Memorandum of Agreement with officials of the MFBs, the Director-General of SMEDAN, Dr Dikko Radda said that the project was to assist SMEs grow their businesses.

Radda, who expressed worry that a major challenge hindering the growth of SMEs was the lack of access to loans, urged the MFBs to ensure timely disbursement of money to grow businesses.

SMEDAN Signs Memorandum Of Agreement With Micro Finance Banks

He reiterated SMEDAN’s commitment to drive the OLOP project in identifying a single product in one local government area and assist SMEs operators in form of cooperatives, with financial, technical and marketing support.

According to Radda, out of 774 LGAs, 364 LGAs have been covered from 2016 to 2020.

“In 2021 alone, 212 LGAs are expected to be covered, leaving a balance of 198 LGAs to be covered in 2022 to complete the first cycle.

“This year, we are targeting two cooperative societies per senatorial zone, making it six cooperative societies per state. The second cycle will commence in 2023 when we will revisit already visited LGAs,’’ he said.

While commending some cooperative societies for performing creditably, Radda expressed concern that difficult terrain in some rural LGAs affect selection, monitoring and evaluation.

He listed high cost of monitoring and evaluation, delayed documentation and poor due diligence by some participating MFBs as well as delayed disbursements as some of the challenges confronting the programme.

Radda also decried delays in loan repayment by some of the beneficiaries.

He urged the MFBs to ensure there was no unnecessary delay in disbursement or diversion of fund and that disbursements were made into the cooperate account of the cooperative societies.

Radda also tasked the MFBs to ensure that the cooperatives submit bankable business plans before disbursements were made.

Speaking on behalf of the MFBs, Mr Kayode Akinade, Managing Director, MICROVIS MFB, pledged that they would adhere strictly to the terms of agreement and ensure timely disbursements of funds to cooperative societies.

According to Akinade, the funds will be utilized for what they are meant for.

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Politics

2023: I Will Not Impose My Successor On Rivers — Wike

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Governor Nyesom Wike of Rivers on Thursday said he would not impose any governorship aspirant of his choice on the people of Rivers come 2023.

Wike gave the assurance in a statement issued by Mr. Kelvin Ebiri, his Special Assistant on Media, in Port Harcourt.

He assured that the leadership of the party would meet to decide who to support at the appropriate time.

Wike however said that he is obliged to ensure that Peoples Democratic Party (PDP) wins the 2023 governorship election in Rivers.

“One mistake I will not make is to impose somebody. From my experience as a student of history, reality has shown that it is difficult for you to say Joseph is the man I can trust.

”Until you give somebody power and money, that is only when you will know whether that person is trustworthy or not,” he said.

Wike stated that God would not allow someone who will destroy all the remarkable progress the state had made over the years to be the next governor.

”God will ensure that it is only someone who is courageous, firm and ready to protect the interest of Rivers that will succeed me.

“Rivers is a state that so many people have an interest in. It is a state that you have to put your feet on the ground. It is a state that you have to annoy a lot of Nigerians and a lot of Nigerians will hate you.

“But what is important is for you to know is what is good for your people and stand for your people. Do not allow personal interest to sway you against the interest of your people,” Wike stated.

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Entertainment

VIDEO: Moment Obi Cubana Met Wizkid Backstage At London Show

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Wizkid

Obinna Iyiegbu popularly known as Obi Cubana, a Nigerian entrepreneur, and businessman who chairs the Obi Cubana group of companies showed up at the O2 Arena in London venue of the talked about, a sold-out concert by Ayodeji Ibrahim Balogun, known as Wizkid.

Cubana like many other notable Nigerians was in attendance to support one of Nigeria’s most successful artists who kicked off the beginning of his O2 arena concert as he treated his 20,000 fans with premium entertainment for three nights in a roll.

On the first night, he had on stage with him other artistes like American Superstar Chris Brown. He also brought hitmaker Tems, Buju with the Golden Voice, British Singer Ella Mai, and British rapper Skepta who all featured in his ‘Made In Lagos’ album, as he performed songs from there.

The Popular socialite and businessman, who had shared a video of himself and Wizkid after his third night show at the O2 Arena, London wrote on his page, “Proud of you #wizkidayo“

Watch Video Below;

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Former Senate President Joseph Wayas Is Dead

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Joseph Wayas

Former Senate President in the Second Republic, Joseph Wayas is dead.

The death of Joseph Wayas, was announced by Governor Ben Ayade’s spokesman, Christian Ita on Thursday.

According to the governor, Joseph Wayas gave up the ghost in the early hours of Tuesday in a London hospital.

Ayade said the late politician has left a lasting legacy that will be remembered for a long time, describing the death of the 80-year-old as a monumental loss to the state and Nigeria.

He, however, condoled with the family of Wayas and said his death is a “collective loss and the pains a shared one”.

The statement reads: “As a state, Cross River is in pains as we mourn the passing of our illustrious son. He was a rare gem. Dr Wayas’ demise is indeed a monumental loss to our dear state and Nigeria,” Ayade was quoted as saying.

“As Senate President, Dr Wayas contributed to the deepening of Nigeria’s democratic ethos through his robust and vibrant leadership of the upper legislative chamber.

“And since his retirement from active politics, the former Senate President had been playing a fatherly and stabilising role in the politics and affairs of our state.”

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