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Access Bank Plc, EIB Partner To Empower SMEs, Women Through €50 Million Facility

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  • Deal to provide access to finance for SMEs as an effective means to foster economic diversification and inclusive growth.
  • At least 30% of funding will support women-led, women-owned businesses or businesses offering a service or product disproportionally benefiting women.
  • The deal supports Nigeria’s national action plan, which targets the empowerment of young people and women in alignment with the EU’s 2021-2027 Nigeria Multi-Annual Indicative Program (MIP).

Access Bank Plc and the European Investment Bank (EIB), on Thursday, signed a memorandum of understanding, to deploy the long-term financing of 50 million euros, aimed at boosting the financial inclusion of young people and women in Nigeria.

Held with support from the European Union, the execution will contribute to the progress made towards achieving the Sustainable Development Goal number 5, which targets gender equality and empowerment for all women and girls.

Speaking on Access Bank’s longstanding partnership with the EIB and commitment to sustainable finance, Roosevelt Ogbonna, Group Managing Director, and Chief Executive Officer of Access Bank Plc said:

“Our collaboration with the European Investment Bank underscores our unwavering commitment to fostering job growth, promoting gender equality, and championing sustainable business practices across all our countries of operation. At Access Bank, we believe in the potential of women as drivers of economic growth, and this partnership reinforces our dedication to that cause. By providing critical financial resources to female entrepreneurs and managers, we aim to not only expand businesses but also uplift livelihoods and drive economic development in Nigeria.

“As we work towards achieving the national and global development goals, this credit facility exemplifies the shared vision of Access Bank and EIB for a more inclusive and prosperous continent. We look forward to the positive impact this partnership will have on the lives of Nigerian women and the broader economy.”

The funds will be mobilised by Access Bank to finance eligible investments made by SMEs and mid-caps in sectors such as transport, agriculture value-chain, manufacturing, tourism, and services. It will also be targeting businesses owned, run, employing, or primarily serving women, in accordance with the “2X Challenge” initiative, whose criteria are aligned with the OECD gender objectives.

“Since inception, the goal of the “W” Initiative has been to inspire, connect, and empower women with sustainable tools to access true financial inclusion and growth. This is why we are excited about the potential of this agreement with the EIB, as it is a powerful instrument to support women in realising their dreams and aspirations. By providing increased access to funding, we are fostering economic growth and strengthening the foundation of gender equality in Nigeria,” Abiodun Olubitan, Group Head, Women Banking, Access Bank Plc added.

This execution is testament to Access Bank’s pledge to drive sustainable economic growth that is profitable, environmentally responsible, and socially relevant, while helping customers to access more and achieve their dreams. Over the past 17 years, the Bank has consistently demonstrated its commitment to gender equality and women’s economic empowerment, expending over ₦246.46 billion in financing for 3,145,319 women.

 

About Access Bank PLC

Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 20 countries and over 60 million customers. The Bank employs over 28,000 thousand people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE.

Access Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian Stock Exchange since 1998. The Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. The Bank services its various markets through four business segments: Corporate and Investment Banking; Commercial Banking; Business Banking, and Personal & Private Banking. The Bank has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last 18 years, becoming one of the continent’s largest retail banks.

As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.

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BREAKING: Portable Remains In Police Custody After Failure To Meet Bail Conditions

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Popular street musician, Habeeb Okikiola, also known as Portable, has remained in police custody for failing to meet the bail conditions for his release.

It was earlier reported that he was arrested for allegedly refusing to pay the N14 million debt he incurred when he bought a G-Wagon from a car dealer in Lagos State.

According to the Lagos State Police Command’s spokesman, Benjamin Hudenyin, the singer will remain in detention pending when he’s able to produce a reliable surety before he can be granted bail.

“He has presented no reliable surety yet so he (Portable) is still with us,” Hundeyin said.

 

More to come…

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48-Yr-Old Nigerian Man Who Killed Wife With Son’s Skateboard In UK Jailed For Life

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Olubunmi Abodunde, a 48-year-old Nigerian man, who murdered his wife, Taiwo, with his son’s skateboard and blamed his loss of control on medication has been sentenced to life imprisonment in the United Kingdom.

Taiwo died in November 2023 from severe brain injuries sustained after the tragedy in their Newmarket home.

But according to the BBC, he acknowledged killing Taiwo, who had “catastrophic brain injuries.”

The severity of the attack at their Exning Road home that resulted in her death was observed by the Ipswich Crown Court. Abodunde will not be eligible for parole for at least 17 years in imprisonment.

The court was informed that Abodunde was arrested following a domestic incident that occurred the day before Taiwo passed away.

Contact with his spouse was prohibited by the terms of his release.

The next morning, despite these conditions, Abodunde went to the family home to retrieve a mobile phone.

Taiwo, a mother of three, was returning home from her overnight shift as a health care assistant.

Prosecutor Stephen Spence KC told the court that Abodunde was aware of his wife’s shift pattern and CCTV showed she had arrived back at about 09:12.

The court was informed that two officers had attended the property at about 09:20 to speak with Mrs Abodunde about the previous day’s domestic incident.

Spence stated, “Only the defendant now knows what happened. The officers repeatedly knocked on the door and notified them of their presence but got no response or heard any calls for help.”

However, between 40 and 50 “thuds” were heard and it was believed to be Abodunde attacking his wife.

Officers were given clearance by senior police officials to enter the property at 09:45, the court was told.

Spe4nce added, “When they entered the front door, they immediately found the lifeless body of Mrs Abodunde with her skull smashed in.”

Meanwhile, a postmortem examination revealed that Taiwo had suffered “catastrophic brain injuries”.

She also had injuries that were consistent with her body being “stamped on” as well as being hit with a skateboard.

This was found at the property covered in blood and fragments of skull.

The court was told the victim had also been strangled.

Meanwhile, the defendant could be heard sobbing from the dock as Spence addressed the court.

Police forced their way into the home after hearing bangs.

“It seems to me that he was waiting for confrontation. There is no debate that there was not going to be confrontation in my view,” he stated.

Akudolu said Abodunde “was a very well-respected man” both here in the UK and in Nigeria where the couple had previously moved from.

He had been a local councillor in Nigeria and had a local street in the country named after him.

The court heard the couple had a “history of frequent disputes over bills and money” with some “low-level violence” involved.

Akudolu told the court that “not a day will go by that [Abodunde] does not regret the misery” that he has caused.

In his ruling, Judge Levett described Taiwo’s killing as “ruthless, violent, savage and heartless”.

Levett said Abodunde had lied to officers telling them his wife had attempted to attack him with a knife the day before he murdered her, adding that Abodunde also claimed she had tried to beat him, but no evidence was found to substantiate this, the court was told.

While Levett spoke, Abodunde could be seen from the dock with his head in his hands while sobbing.

The Judge added that there had been “no self-defence at all” on Abodunde’s part, saying he had heard “no remorse other than sobs from the dock”.

Following the murder, Suffolk Police referred itself to the Independent Office for Police Conduct due to previous contact with the couple.

It said earlier this month, two officers were advised they were being investigated for gross misconduct over potential breaches of the standards of professional behaviour.

Another officer is under investigation for breaches amounting to misconduct.

An IOPC spokesman said, “This does not mean disciplinary proceedings will necessarily follow. Our investigation remains ongoing.”

 

Credit: BBC

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Court Grants Emefiele N300m Bail In Trial On Naira Notes Printing

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Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), has been granted bail by a federal capital territory high court in the amount of N300 million.

Emefiele was charged with four counts by the Economic and Financial Crimes Commission (EFCC) and appeared before presiding judge MaryAnn Anenih on Tuesday.

Following the reading of the four counts against him, Emefiele entered a not guilty plea. Mahmud Magaji, Emefiele’s attorney, moved to request bail.

He urged the court to release his client on self-recognition, with the same terms and circumstances as those set down in the previous bail order from a coordinate court chaired by Hamza Muazu.

He added that the defendant will always be in court to face trial.

In her ruling, Anenih granted the former CBN governor bail in the sum of N300 million, with two sureties in like sum.

The court said the sureties must be residents of Nigeria and owners of properties within the Maitama district of Abuja, and that they must possess an affidavit of means.

Emefiele has also been asked to deposit his travel documents before the court. He is not permitted to leave the country without the permission of the court.

Anenih added that Emefiele should be remanded at Kuje Correctional Centre pending the fulfilment of his bail conditions.

The case has been adjourned to May 28 and 29 for commencement of trial.

The anti-graft agency is accusing Emefiele of “illegal” printing of naira notes in its fresh charge.

In the charge sheet seen by TheCable, EFCC alleges that Emefiele “disobeyed the direction of law with intent to cause injury to the public” by approving the printing of naira notes without “strict approval” from former President Muhammadu Buhari and the CBN board.

Emefiele is alleged to have approved the printing of N684.5 million notes at the rate of N18.96 billion.

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