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AfDB to Lend $500m to Women in 2022, Says Adesina

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By Derrick Bangura

The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, Sunday said the bank would lend $500 million to women this year.

He added that the bank also paid out $483 million to financial institutions to lend to women’s businesses in 2021.

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Adesina in a statement he posted on his verified Twitter handle, @akin_adesina, added that with the support of French President, Mr. Emmanuel Macron and the G-7, the AfDB’s Affirmative Action for Women in Africa (AFAWA) was raising $5 billion for women businesses.
Adesina’s remarks came as the bank commences its Annual Meetings for 2022.
He said the board had approved a crisis response facility of up to $10 billion based on rigorous risk assessments when the COVID-19 pandemic struck, adding that it launched a $3 billion COVID-19 social bond on the global capital markets, the highest ever US dollar denominated social bond in world history.

He said, “Our rapid COVID-19 response facility helped towards stabilising African economies. It trained 130,000 health workers. It provided social protection for about 30 million vulnerable households. It provided advisory support for 300,000 small and medium sized businesses.”

He stated that to tackle the food crisis arising from the Russian-Ukraine crisis, the AfDB board last week approved a $1.5 billion African Emergency Food Production Facility to support 20 million farmers to produce 38 million metric tons of food.

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He also said in a bid to help Africa adapt to climate change, the bank is partnering globally with the Global Center on Adaptation, and with former UN Secretary General Ban Ki-moon to mobilize $25 billion in support of Africa.

Adesina said, “The African Development Bank was ranked by Global Finance as the Best multilateral financial institution in the world in 2021. The African Development Fund was ranked by CGD as second best in the world, ahead of all 28 concessional financing institutions in developed countries.

“We are a AAA-rated financial institution, the only one in Africa. We have consistently maintained our stellar AAA credit ratings by all major global credit rating agencies, who consistently praise our excellent risk management at the bank.

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“We have an excellent and robust management and governance system. We deliver great value for our clients in Africa. Over the past six years, through our High five programmes, our work has impacted on 335 million people. We deliver great value.”

The AfDB president also tweeted that independently conducted survey by a global HR firm found 85 per cent of staff are happy with the bank, an exceptionally high level for any institution globally, adding that despite COVID-19 and challenges of working from home, 97 per cent of staff were pleased wit provided by the bank.

He said, “IT services support Our achievements, exceptional management, good governance systems, and delivery of the Bank cannot be denied or misrepresented based on externally fabricated lies, distortions, misinformation, and deliberately orchestrated campaign of calumny to attempt to tarnish our image.

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“We will tell our story. We will not be defined by mischief makers, lies and biases. We are proudly African. We will continue to make Africa proud as Africa’s only AAA financial institution rated.
“As we start the Bank’s Annual Meetings for 2022, I wish to commend the Board of Governors, Board of Directors, Management and all the hard-working staff of the Bank for their relentless work.
“I thank all our 81 shareholder countries for their incredible confidence and support.

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NCBN, OISD Seek Strategic Partnership with ASR Africa

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NCBN, OISD Seek Strategic Partnership with ASR Africa

By Matthew Eloyi

The Managing Director and Chief Executive Officer of the Nigeria Customs Broadcasting Network (NCBN), Mr. Jamilu Yusuf, has led a delegation on a courtesy visit to the Managing Director of the Abdul Samad Rabiu Africa Initiative (ASR Africa), Dr. Ubon Udoh, to explore areas of mutual collaboration.

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Mr. Yusuf, who also serves as the Executive Director of the Organisation for Innovation and Sustainable Development (OISD), commended ASR Africa for its transformational impact in critical sectors such as education, healthcare, social development, and institutional strengthening across Nigeria and the African continent.

He highlighted NCBN’s commitment to promoting institutions and initiatives that drive sustainable development, noting that a strategic communication partnership with ASR Africa would help amplify the organisation’s achievements and further inspire positive change.

Mr. Yusuf also proposed a collaboration between OISD and ASR Africa in areas including education, digital literacy, and economic empowerment, aligning with both organisations’ shared vision for inclusive growth and capacity building.

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In response, Dr. Udoh welcomed the partnership proposals, expressing ASR Africa’s readiness to collaborate with NCBN on strategic communication initiatives. He also affirmed the initiative’s interest in working with OISD on education empowerment programmes.

Dr. Udoh further used the occasion to congratulate the Comptroller-General of Customs, Bashir Adewale Adeniyi, on his recent election as the Chairperson of the World Customs Organisation (WCO), describing the achievement as a testament to Nigeria’s growing influence in global customs administration.

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Akpabio Hails Okpebholo’s Supreme Court Victory, Calls It Triumph of Democracy

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Akpabio

President of the Senate, Godswill Akpabio, has congratulated Governor Monday Okpebholo on his affirmation as the duly elected governor of Edo State by the Supreme Court, describing the ruling as a “triumph of democracy and the will of the people.”

Akpabio, in a statement personally signed and released on Friday in Abuja, applauded the apex court’s decision, saying it validated the mandate freely given to Okpebholo in the September 2024 gubernatorial election.

“What the apex court in the land has done is to affirm the will and wishes of the overwhelming majority of the people of Edo State. It shows that the election was transparent, free and fair,” Akpabio stated.

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He added that, “The declaration by the Supreme Court in favour of Sen. Okpebholo against Mr Asue Ighodalo of the Peoples Democratic Party (PDP) has proven that elections are won at the ballot and by people who have identified with the grassroots.”

The Senate President said the judgment reaffirms the strength of Nigeria’s democratic institutions and the popularity of the All Progressives Congress (APC) in Edo State.

“This judgment has again reaffirmed the fact that democracy is at play and the people of Edo have wholeheartedly embraced the All Progressives Congress (APC) and popularly elected their preferred choice of Senator Okpebholo as their governor,” he said.

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According to Akpabio, the ruling not only confirms Okpebholo’s mandate but also “paves the way for him to continue delivering exceptional service to the good people of Edo.”

He praised the governor’s performance in the past seven months, expressing confidence in his capacity to deliver more during his four-year tenure.

“My distinguished brother, His Excellency Senator Monday Okpebholo, on behalf of my family and constituents, the Senate of the Federal Republic of Nigeria, I extend my warmest congratulations to you and the wonderful people of Edo on this landmark victory at the Supreme Court.

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“I wish you success and I assure you of the Senate’s support and collaboration in ensuring the state’s progress and development.

“Congratulations once again, Gov Okpebholo. I look forward to a robust working relationship with you,” Akpabio added.

In a unanimous decision, a five-member panel of the Supreme Court led by Justice Mohammed Garba dismissed the appeal filed by the PDP candidate, Mr Asue Ighodalo, for lacking merit.

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The apex court upheld the earlier rulings of the Court of Appeal and the Edo State Governorship Election Petition Tribunal, both of which declared Okpebholo of the APC as the valid winner of the election.

The court ruled that the appellant failed to provide credible and admissible evidence to support claims of electoral malpractice, including over-voting and substantial non-compliance with the Electoral Act.

It further held that the PDP candidate failed to call relevant witnesses to back up some of the evidence he tendered, particularly those involving the Bimodal Voter Accreditation System (BVAS).

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Some of the documents presented, the court noted, were simply “dumped” on the tribunal without demonstrating the alleged irregularities in 432 of the 4,519 polling units across the state.

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NELFUND Begins Upkeep Payments to Over 3,600 Students After Bank Detail Update

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NELFUND Disburses Over N20bn in Student Loans, Assures Transparency

The Nigerian Education Loan Fund (NELFUND) has commenced the disbursement of upkeep payments to students who successfully updated their bank account details from digital wallets to commercial bank accounts.

This was announced in a statement released on Friday in Abuja by the Director of Strategic Communications of the Fund, Mrs. Oseyemi Oluwatuyi.

Oluwatuyi described the development as a significant breakthrough in addressing earlier disbursement delays.

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“Over 3,600 students, who previously registered with digital-only banking platforms, have now successfully received their backlog of upkeep payments after updating their details to conventional commercial bank accounts on the NELFUND portal,” she stated.

“We appreciate the patience and understanding of all affected students during this period. Your resilience and cooperation have made this progress possible,” she added.

The NELFUND spokesperson advised students who have yet to update their bank details to raise a support ticket via the official NELFUND portal to request access for the update.

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She further urged affected students to report through the IT office of their respective institutions, which would compile and forward all related cases to NELFUND for prompt resolution.

“NELFUND remains committed to ensuring that no eligible student is left behind. This resolution process is part of our broader effort to enhance the efficiency, transparency, and student-centered delivery of our support services,” she said.

Oluwatuyi encouraged students to continue engaging only through official NELFUND channels and to assist their peers who may need help navigating the update process.

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She also provided contact options for inquiries, stating that the fund can be reached via email at info@nelf.gov.ng or through its official social media handles: X (formerly Twitter) @nelfund; Instagram @nelfund; and Facebook & LinkedIn: Nigerian Education Loan Fund – NELFUND.

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