News
DBN Disburses N400bn to MSMEs

The Development Bank of Nigeria Plc has disbursed the sum of N400 billion to over 150, 000 Micro, Small and Mediun Enterprises (MSMEs) since its inception in 2017.

Mr. Tony Okpanachi, the Managing Director (MD) of the bank, disclosed this during the second Annual Lecture series of the bank, which held virtually.
According to him, “Since commencing operations in 2017, we have disbursed over N400billion in loans to over 150,000 MSMEs, out of which, 57% are women-owned and 28% youth-owned businesses respectively, culminating in the creation of over 130,000 jobs.
“In the year 2020 alone, the sum of N190 billion was disbursed through 19 PFIs; out of which N9.8 billion were to 6,935 first time borrowers; N5.7 billion to 9,066 youths, and N11.8 billion to 25,171 women-owned businesses. Cumulatively, 83% reported an increase in their sales after obtaining the loan, while 48% were able to increase their staff strength after receiving the facility.”
DBN, the MD said, was interested in MSMEs because of its belief in, ‘”big things have small beginnings’ and according to the International Council for Small Businesses (ICSB), formal and informal MSMEs make up over 90% of all businesses, employing over 70% of the workforce and contributing to over 50% of GDP. Nigeria alone has over 41 million registered MSMEs.”
Mr. Okpanachi disclosed that from 2017 to date, 125 MSMEs were also trained, as part of the bank’s capacity-building initiative through the DBN Entrepreneurship Training Programme.
He added that the 2021 Entrepreneurship Training Programme has also commenced and being fully bankrolled by DBN under the platforms of Enterprise Development Centre of the Pan Atlantic University, Google, and Wider Perspectives – a specialised capacity building Agency for micro-businesses.
The MD said, “This underscores our commitment to the cause of championing conversation on how MSMEs can prosper despite the odds in these peculiar times.
“Therefore, it is at times like this that our mandate at DBN finds full expression as captured in our Vision which is “To facilitate Sustainable Socio-Economic Development through the Provision of Finance to Nigerian’s Underserved MSMEs through Eligible Financial Intermediaries.”
In his remarks, Dr. Shehu Yahaya, the Chairman of DBN, said that the theme of this year’s lecture, “Resilient Innovation: MSMEs’ Adaptability in Uncertain Times” spoke directly to the bank’s commitment, as a financial institution, towards providing a conducive environment for MSMEs in Nigeria to thrive.
His words, “Just as we continue our lending to MSMEs through our Participating Financial Institutions, we also extend our engagements with critical stakeholders to advocate for enabling policies that promote the growth and development of these essential segments of our economy.
“The Covid-19 pandemic, which has further complicated an already challenging micro and macro-economic environment, has impacted businesses adversely across all segments.
“The DBN Annual Lecture Series is one of the ways we continue to engage with all stakeholders to search for solutions and influence policies aimed at addressing the constraints faced by Micro, Small, and Medium Scale Enterprises.”
In his address, Prof. Benedict Oramah, the President of African Export-Import Bank (Afrexim) said that his organisation was working with various member countries to create the necessary environment for MSMEs to take advantage of the African Continental Free Trade Agreement (ACFTA).
Accordingly, he said that the free movement of goods across borders of regional members would enhance opportunities for operators in the sub-sector to expand their market reach.
The Afrexim boss who was represented by the Mr. Denys Denya, described MSMEs as, “pillars upon which diversified economies could be built,” as well as, “the cornerstone for building resilient economies.”
News
Court Declares Keystone Bank Staff Wanted over Alleged N35m Fraud

A Federal High Court, Lagos has declared Mrs. Ebele Okpala, a female banker with Keystone Bank, wanted over alleged N35 million fraud.

Apart from declaring the banker who is said to be outside the country wanted, Justice deinde Dipeolu, trial judge in the matter, also directed the Department of State Security (DSS), Nigerian Immigration Service (NIS), and Nigeria Customs Service (NCS), to arrest her upon arriving the country.
Justice Dipeolu made the above order while granting a motion ex-parte marked FHC/L/530C/2024, filed and moved by M. Bello, on behalf of the Nigeria Police.
In the motion, Ebele Okpala and one Perpetual Onyeto, also a banker were listed as first and second defendants/respondents in the suit, while DSS, NIS and NCS were listed as cited parties/respondents.
In urging the court to make the above orders, Bello, informed the court that the application was pursuant to several sections of the Administration of Criminal Justice Act (ACJA) 2015, and under the court’s inherent jurisdiction. Adding that the application was supported by an affidavit deposed to by Inspector Tope Akerele of the Force Criminal Investigation Department (FCID), Special Fraud Unit (SFU), Ikoyi, Lagos.
In granting the application, Justice Dipeolu held, “After considering the application and the supporting affidavit, the request had merit and granted all the reliefs sought by the prosecution.
“That an order is hereby made that the 1st defendant/despondent be declared wanted and placed on the wanted list of the Nigeria Police Special Fraud Unit, 13, Milverton Road, Ikoyi, Lagos until she is arrested.
“That an order is hereby made compelling cited parties/respondents to assist in apprehending 1st defendant/Respondent once he enters into the country.
“That an order is hereby made permitting the Publication of the name of the 1st defendant/despondent in the National Daily Newspapers and Social Media handles by the Nigeria Police Special Fraud Unity Ikoyi, Lagos for the purpose of fulfilling the requirement of the Order 1 above.”
Recall that both the wanted banker and the second defendant/respondent were previously arraigned before the court by the operatives of the police Special Fraud Unit, PSFU.
Specifically, the two bankers were arraigned before the court sometimes in September 2024, on alleged conspiracy, theft, money laundering, fraudulent lift of lien placed on bank’s customer’s account and obtaining the sum of N35 million by false presence.
News
UK Deepens Digital Partnership with Nigeria to Drive Inclusive Growth

The United Kingdom has announced expanded collaboration with Nigeria to accelerate the country’s digital economy through a package of initiatives delivered under the UK’s Digital Access Programme.

At the heart of this partnership is the State-level Policy, Regulatory and Institutional Reforms Enabling Digital Transformation (SPRIRET) initiative which was announced during the June visit of the UK Minister for Africa and International Development, Baroness Chapman MP.
The SPRIRET Project is designed to support reforms across five states: Abia, Edo, Ekiti, Enugu and Niger, and to reduce regulatory barriers and unlock greater investment and innovation in broadband, digital services, and emerging technologies. The UK will look to support more states in future iterations of the project.
SPRIRET will work with Initiative for Digital Inclusion to strengthen state-level policies, governance systems, digital infrastructure and human capacity to improve service delivery, increase transparency, and expand citizen access and participation in the digital economy.
The project is designed as a scalable model for nationwide replication, enabling states to generate new economic opportunities and support inclusive digital transformation at scale.
British Deputy High Commissioner, Mr. Jonny Baxter said: “The UK is proud to partner with Nigeria to drive an inclusive and innovative digital economy. Through initiatives like SPRIRET, we are supporting practical reforms that will unlock investment, strengthen institutions, and expand digital access, creating opportunities for businesses and citizens alike. This partnership reflects our shared ambition to harness technology for sustainable growth.”
Prof. Chidiebere Onyia, Secretary to the State Government, Enugu State said: “We wish to express our sincere appreciation to the British Deputy High Commission and the Foreign, Commonwealth and Development Office (FCDO) for the sustained interest in Enugu State’s development agenda and for the initiative in co-designing the SPRIRET project in response to the State’s priorities.
“We are satisfied that the SPRIRET project addresses a critical gap at the level of policy, regulatory, and institutional reform – areas that are foundational to giving lasting direction and effectiveness to all current and future digital investments in the State. We look forward to a productive and impactful partnership that will significantly advance Enugu State’s vision of an inclusive digital economy.”
Alongside SPRIRET, the UK is supporting targeted interventions to strengthen Nigeria’s wider digital ecosystem. A Technical Assistance Facility will enhance the performance of the Universal Service Provision Fund, improving its systems, institutional capacity and delivery to ensure more inclusive and sustainable digital access outcomes.
In parallel, the Safeguarding Trust, Digital Rights, Inclusion and Data Ethics (STRIDE Nigeria) Project will promote responsible data governance by raising awareness of rights under the Nigeria Data Protection Act, strengthening institutional compliance, and building a pipeline of skilled professionals.
Through a nationwide “Own Your Data” campaign and targeted fellowships, the initiative will equip citizens and businesses with the knowledge and tools to participate safely and confidently in the digital economy.
Together, these initiatives demonstrate the UK’s continued commitment to supporting Nigeria in building a more inclusive, secure and dynamic digital economy – unlocking growth, strengthening institutions, and empowering citizens.
News
Army Says Terrorists Now Recruiting, Raising Funds Online

Nigerian Army has warned that terrorist and criminal groups were increasingly exploiting cyberspace to recruit members, raise funds, coordinate attacks and spread propaganda, describing the trend as a growing threat to Nigeria’s national security.

Lt.-Gen. Waidi Shaibu, chief of Army Staff (COAS), raised the alarm on Tuesday at the 2026 Nigerian Army Cyber Warfare School Seminar in Abuja.
Represented by Maj.-Gen. Jeremiah Manjang, deputy chief of Special Services and Programmes, the Army Chief said cyberspace has evolved into a strategic battlefield where both state and non-state actors operate with unprecedented speed, making security threats more complex and difficult to counter.
He noted that hostile actors no longer require physical presence to disrupt critical infrastructure, compromise sensitive information, manipulate public opinion or undermine national security through anonymous cyber attacks.
According to him, terrorism, insurgency, banditry, kidnapping, separatist agitations, organised crime, misinformation and disinformation are increasingly being enabled, coordinated and amplified through digital platforms and cyber networks.
“The reality is that terrorist and criminal groups now exploit cyberspace for recruitment, propaganda, fundraising, intelligence gathering, attack coordination and concealment of illicit financial transactions. This demands a proactive and coordinated national response,” he said.
Shaibu said the changing nature of security threats had compelled the Nigerian Army to strengthen its cyber capabilities to effectively address complex, asymmetric and technology-driven challenges.
He called for stronger cyber intelligence capabilities driven by artificial intelligence (AI), machine learning and advanced data analytics to improve early warning systems, threat detection and predictive security analysis.
The COAS also advocated deeper collaboration among government institutions, the military, law enforcement agencies, academia and the private sector, stressing that cybersecurity can no longer be handled by a single institution.
He emphasised the need for sustained investment in indigenous cyber capabilities, research, technological innovation and human capacity development to protect Nigeria’s digital sovereignty and enhance national resilience against emerging threats.
Shaibu further stated that integrating cyber capabilities into conventional military operations would strengthen surveillance, intelligence gathering, geospatial analysis, command-and-control systems, situational awareness and overall operational effectiveness.
Earlier, Brig.-Gen. Jacob Bawa, commandant of the Nigerian Army Cyber Warfare School, said the seminar was organised to deepen cybersecurity awareness, strengthen cyber resilience and promote collaboration among security stakeholders.
Bawa noted that Nigeria’s increasing reliance on digital technologies has exposed critical infrastructure, including telecommunications, power systems, financial institutions and government databases, to cybercriminals, terrorists and hostile state actors.
He said the Cyber Warfare School was established as a centre of excellence for cyber warfare training, education and research.
According to him, participants at the seminar would examine cyber resilience, threat intelligence, incident response, cyber warfare and emerging technologies with a view to developing practical recommendations for strengthening Nigeria’s cybersecurity architecture.
Also speaking, Abdulhakeem Ajijola, cybersecurity expert, warned that national security now depends significantly on the protection of digital systems, noting that artificial intelligence is transforming military operations, command structures and the protection of critical infrastructure.
Ajijola urged Nigeria to develop sovereign cyber capabilities, warning that excessive dependence on foreign-controlled software, platforms and artificial intelligence systems could undermine national resilience, operational continuity and independent decision-making during periods of crisis.
He stressed that while technology should be deployed to strengthen national sovereignty, responsibility for operational decisions must remain with human commanders.
News3 days agoVerve Strengthens Global Acceptance Across Leading Digital Platforms
News3 days agoArmy Says Terrorists Now Recruiting, Raising Funds Online
Telecom3 days agoLebara Nigeria Becomes Member of GSMA Network
Telecom2 days agoMTN Foundation, Microsoft Empower Nigerian Educators with AI Integration Skills
E-Business3 days agoKaspersky Warns of The Gentlemen Ransomware Group Expanding Operations with New Malware
Telecom3 days agoAirtel Nigeria Deepens Focus on Data Usage Transparency @ Customer Forum
Telecom3 days agoVitel Wireless Warns Public, Says it Not Running any Investment Scheme
E-Financial3 days agoBank of Industry Appoints Kuramo Capital as Manager of Dice Fund of Funds














