NEWS

6,462 ETF Beneficiaries To Get N5.22bn in Lagos

Published

6 years ago

May 10, 2018

The Lagos State Government on Thursday said 6,462 residents with proven business ideas have so far benefitted about N5.22 billion from the Employment Trust Fund (ETF) designed to grow the economy and create jobs through provision of credit facilities with minimal interest.

Speaking at the annual Ministerial Press Briefing to mark the third anniversary of Governor Akinwunmi Ambode’s administration held at the Bagauda Kaltho Press Centre in Alausa, Ikeja, Lagos, Southwest Nigeria, Commissioner for Wealth Creation and Employment, Uzamat Akinbile-Yussuf said the amount so far disbursed constituted a huge part of the total N5.98 billion approved for 8,229 beneficiaries since it began disbursement in 2017.

The ETF is an initiative of the present administration in the State through which N25 billion is earmarked to be disbursed over a period of four years to provide entrepreneurs, artisans, traders and others with capital to boost their businesses thereby reducing unemployment and increasing wealth among the people.

While reeling out loan disbursement activities of the fund, Akinbile-Yussuf said: “In fulfillment of the Lagos State Government’s mandate, the Fund has now disbursed N5.22 billion to 6,462 beneficiaries, out of the approved loans totaling N5.98 billion for 8,229 beneficiaries received.”

She said in the period under review, the board of ETF approved loans totaling N627,053,826.15 for 643 beneficiaries under the batch four of the scheme, while in batches five, six, seven and eight, N924,696,671.00, N979,704,570.31, N443,859,457.60 and N1,013,485,058.69 were respectively disbursed to 5, 813 beneficiaries.

“For batch one of 2018, the Board approved loans totaling N492,798,560.90 for 1,753 beneficiaries (44 Small and Medium Enterprise (SME), 1,306 Medium Enterprise (ME) and 403 MES). The successful applicants have been contacted to meet the conditions that precede the disbursement of their loans,” she said.

Akinbile-Yussuf said as part of efforts designed to encourage startups in innovation and technology, the State Government launched innovation-driven enterprise program tagged “Lagos Innovates” where access to high quality infrastructure, learning and networks were provided, adding that the projection was to cement the place of Lagos as the leading destination for startups in Africa.

She said the government, through the Lagos State Employability Support Project, has also firmed up plans to produce 10,000 skilled persons within three years to cater for demand in key sectors such as manufacturing, healthcare, construction, entertainment, garment making and tourism and hospitality.

“In addition, the project will place at least 6,000 trained persons in jobs and upgrade the equipment and improve the curriculum at two of Lagos State Technical and Vocational Education Board (LASTVEB’s) Colleges,” she said.

On other achievements of the Ministry in the last one year, the Commissioner said government developed virtual market which is an online portal created to connect artisans and tradesmen with customers in need of goods and services in a secure environment, revealing that the Ministry had commenced partnership with different stakeholders to actualize the initiative.

She said under the tradesmen and artisans capacity building scheme, a total of 1,000 were retrained in 2017 to enhance their efficiency, competitiveness and productivity, while 40 members of Lagos State House Painter Association were trained and engaged by Kansai Plascon Nigeria, as well as 50 others were trained in partnership with Ruff n Tumble under the sustainable development programme.

Besides, she said in recognition of the opportunities in emergence of new technologies especially in addressing the needs of the society to attain sustainable growth and development, the government came up with the concept of developing an ICT hub in Yaba, saying the project would be delivered in partnership with other critical stakeholders.

Also, the Commissioner said the government would soon launch health SMEs to facilitate quality improvement in both public and private sector health facilities through provision of financial support with the support of private sector organizations with the aim of creating wealth and employment.

The State Government, the Commissioner said, also introduced graduate internship programme through the Ministry where a total of 1800 candidates were screened in 2017 out of which 910 were deployed to various private organizations with the view to creating a network contact between the off-takers and the interns.

NEWS

Bobrisky Released On Bail After Denying 15 Million Naira Bribery Allegations

Published

16 hours ago

November 4, 2024

Reporter

Bobrisky granted bail after denying N15m bribery allegation | fab.ng

The Economic and Financial Crimes Commission (EFCC) recently granted bail to Idris Okuneye, popularly known as Bobrisky, following his detention.

On Thursday night, Bobrisky was apprehended and removed from a KLM flight bound for Amsterdam at Lagos’s Murtala Muhammed International Airport while attempting to travel to London.

Subsequently, Bobrisky took to social media to inform his followers about his arrest, claiming to have sustained injuries during the incident.

He posted, “Nigerians, help me, EFCC just arrested me. I’m badly injured.”

After his arrest, officials transported him to the EFCC headquarters in Abuja for questioning over alleged bribery claims involving the commission.

The allegations arose when social media critic Martins Otse, known as VeryDarkMan, released a voice note reportedly featuring Bobrisky’s voice. In the recording, Bobrisky allegedly claimed he had bribed EFCC officials with N15 million to drop money laundering charges.

However, late on Friday, November 1, authorities processed Bobrisky’s bail, and he regained his freedom shortly after. EFCC spokesperson Dele Oyewale confirmed the release on Saturday but declined to provide additional information.

A source close to the case disclosed that Bobrisky denied all bribery allegations in his official statement. He also challenged the voice note’s authenticity, urging the individual who shared it to prove the claims.

According to the source, Bobrisky asserted that no EFCC official had solicited money from him and insisted he had not offered any bribe.

Through this statement, Bobrisky maintained his innocence, asserting that the bribery accusations were baseless. Meanwhile, the EFCC has yet to comment further on the case. This leaves questions about the voice note’s origins and the nature of the allegations still unresolved.

BREAKING NEWS

Quincy Jones, Michael Jackson’s Producer, Dies At 91

Published

17 hours ago

November 4, 2024

Reporter

Quincy Jones, Michael Jackson's producer, dies at 91 | fab.ng

Quincy Jones, a legendary music producer renowned for his collaborations with iconic artists, passed away on November 4, 2024, at the age of 91.

His publicist, Arnold Robinson, confirmed the news. Jones’ family released a heartfelt statement, expressing their grief and celebrating his extraordinary life and enduring legacy.

They said,

“Tonight, with full but broken hearts, we must share the news of our father and brother Quincy Jones’ passing. And although this is an incredible loss for our family, we celebrate the great life that he lived and know there will never be another like him.”

They added, “We take comfort and immense pride in knowing that the love and joy, that were the essence of his being, was shared with the world through all that he created. Through his music and his boundless love, Quincy Jones’s heart will beat for eternity.”

Born in Chicago in 1933, Quincy Jones’s lineage was a complex tapestry of history. His mother descended from slave owners, while his father, half-white, was the son of a Welsh slave master and one of his enslaved women.

Jones’s early exposure to music began at home, where his mother’s singing and a neighbour’s piano ignited his passion. At the tender age of seven, he started learning to play the piano.

Following his parents’ divorce, Jones and his father moved to Washington State. There, he joined his high school band, mastering the drums and various brass instruments.

His musical journey took a significant turn at the age of 14 when he began performing in Seattle bars. A remarkable moment arrived in 1948 when he backed Billie Holiday, sharing the stage with a young Ray Charles.

After a brief stint at Seattle University studying music, Jones ventured to Boston to complete his education. His illustrious career, spanning over seven decades, was marked by groundbreaking collaborations with legendary artists.

He worked alongside Michael Jackson, Frank Sinatra, Ray Charles, and many others. Indeed, one of his most iconic achievements was producing Michael Jackson’s historic album, “Thriller.”

Check out more news updates here.

MOVIES

AMAA 2024: “The Weekend” & “Jagun Jagun” Take Home Major Wins

Published

18 hours ago

November 4, 2024

Reporter

AMAA 2024: The Weekend & Jagun Jagun Wins Big | fab.ng

The 20th edition of the Africa Movie Academy Awards (AMAA) took place yesterday, November 2nd, 2024, at the Balmoral Convention Centre in Ikeja, Lagos.

This year, the AMAA 2024 ceremony honoured first-time winners and celebrated the best in African cinema. This brought filmmakers from across the globe together under one roof.

Notably, Nollywood actor Segun Arinze and Ghanaian actress Joselyn Dumas hosted the event. In addition, legendary Afrobeat musicians Femi Kuti and Yinka Davies performed, adding a unique flair to the ceremony.

A line-up of pan-African artists, including Narh Tettey, Bedwei Kwaku, and Adina Thembi, further entertained the audience.

Leading the jury, filmmaker and curator Dorothee Wenner, along with a distinguished panel, reviewed the nominated films, recognizing exceptional talent and storytelling in African cinema.

Among the major highlights in AMAA 2024, the Nigerian-directed drama “The Weekend” dominated the evening. It won the “Best Film Award” for both Nigeria and Africa.

Furthermore, Femi Adebayo won the “Best Actor in a Supporting Role” award for his performance in the historical thriller “Jagun Jagun.”

Notably, after receiving seven nominations, the film also claimed awards for Achievement in Visual Effects and Make-up.

Meanwhile, Elsie Abang earned “Best Actress in a Supporting Role” for her performance in “KIPKEMBOI.” Likewise, Michell Lemuya claimed the “Best Young Promising Actor” award for her role in “NAWI.”

In the leading roles category, South Africa’s Zolisa Xaluva took home “Best Actor in a Leading Role” for his work in “The Queenstown King.”

Similarly, Ghana’s Jackie Appiah won “Best Actress in a Leading Role” for her performance in “Red Carpet.”

Continuing the list of accolades, “Letters to Goddo,” directed by Harry Bentil, won the “Best Feature Film by a Director” award. Meanwhile, Jahmil X.T. Qubeka earned the “Best Director” title for his work on “The Queenstown Kings.”

In recognition of lifelong achievements, the Academy presented Lifetime Achievement Awards to notable filmmakers Souleymane Cissé from Mali, Nacer Khemir from Tunisia, and Haile Gerima from Ethiopia.

Additionally, Alain Gomis from Senegal and Gabon, along with Zimbabwean author and filmmaker Tsitsi Dangarembga, received special recognition awards in AMAA 2024 for their valuable contributions to African cinema.

See the full list of AMAA 2024 winners below: