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General News

GEJ Says I Will Go if I Lose, Denies Plans to Sack Jega

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President Goodluck Jonathan
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President Goodluck Jonathan assured Wednesday he will hand over power May 29 if he loses the forthcoming presidential polls billed for March 28.

The President, in a live media chat apparently organised to douse the tension generated by the postponement of the general elections, also denied plot to sack Prof. Attahiru Jega, chairman of the Independent National Electoral Commission (INEC); and spoke of efforts at tackling insurgency; and corruption.

He pleaded with Nigerians for some time to round up the programme adding that his main preoccupation was to conduct a free, fair and credible general election in March and April this year.

Jonathan noted that just like in 2011 when he expressed similar sentiment, he would gladly go home if he fails to secure the mandate of the people for a second tenure, saying that no politician’s ambition was more important than the interest of the country.

According to him, if he was ready to handover in 2011 if he was not voted into power, he would do the same in 2015 if he is not re-elected.

He said: “If in 2011 I said that I will conduct free and fair elections and if I lose I will happily go home, and it should be recorded that as at that time, no African sitting president had lost an election, but within this period, a number of African sitting presidents have lost election.

“But I wanted to create history of being the first African sitting president that lost election but let the world know that it was free and fair. Then, I just concluded the late president’s term, I was the president for about a year, acting for some months but I said I would be happy to go, that this nation is more important than any human being.

“Anybody who wants to hold this office of the president or any office at all and feels that he is more important than the nation, that is not quite right.

“So, if as at that time I insisted that I was ready to conduct free and fair election and if I lose I will go not to talk about now Nigerians have given me the opportunity to be here for four full years.

“So, if the elections are conducted and I lose, of course, we will inaugurate a new government, there is no way I will say if I lose I will not hand over.”

The president assured that the election would hold and a new government would be inaugurated May 29. He urged people should to disregard the rumour of the impending removal of the chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega.

Jonathan stated that the action of those who say that Jega would be sent on terminal leave and another person appointed in his place to conduct election was meant to deceive the public.

He said even though INEC chairman and commissioners were his appointees, he had not told anybody that he would remove Jega, saying that people were using the suspension of the elections to misinform Nigerians.

Responding to the question, Jonathan said “How I wish Jega were here. I could have asked him to answer that question. One thing about politics or leadership generally is that when you are a leader, you have your members who support you but what they do or say.

“Maybe somebody has been making statements to advance your cause, the assumption is that the person is close to you and he is a fan. There are too many messages that go out and sometimes I call people. More than 80 percent of people sponsoring these messages I don’t even know. So, whatever that person says is different from Jonathan.

“And if you ask Jega, he will tell you I appointed all the commissioners and resident electoral commissioners in INEC. They are my appointees. So, if I feel that Jega is not good enough for obvious reasons, then I can by that provision of the constitution that gives the person who appoints him the power to remove him. I have not told anybody that I am going to remove Jega.

“Some of these things are creations by people who want to cause confusion. A lot of people are using the rescheduling of the elections to misinform Nigerians.”

The president also revealed that even though the National Council of State discussed the issue of election postponement, government did not put pressure on the electoral body to shift the polls

However, he added that the commission took into consideration security advice because it had to work with the security forces for a successful implementation of the elections.

He explained that the postponement of the election ought not to be a vexatious issue but the nature of Nigerian politics had given it a different coloration.

The president observed that INEC was not fully ready for the conduct of the election on February 14 because of the challenges it faced in the distribution of Permanent Voter Cards (PVCs).

On the fate of the Chibok girls, he assured that with the equipment recently acquired by the military and cooperation of the international communities, they would soon breathe the air of freedom.

The President said the Boko Haram sect would be flushed out in a few weeks as a joint force between Nigeria and its neighbours has been raised to comb the nook and cranny of the troubled north eastern states and reclaim them.


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General News

Wema Bank Plans N2M Grant to Empower Women

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Innovative financial institution and pioneer of Africa’s first fully digital bank, Wema Bank, has reaffirmed its commitment to advancing women’s empowerment by partnering with the SheCan Conference for the fifth consecutive year.

The collaboration has announced it would empower women with N2 million grant during the 6th edition of SheCan 6.0. conference, that will be held on July 18, 2025, at Balmoral, Federal Palace Hotel, Lagos.

The event is expected to host over 7,000 women under the theme “SheCan Do More.”

Announcing this partnership, Wema Bank through its women-focused platform, SARA by Wema, said it will be awarding ₦2 million in business grants to support women entrepreneurs within the SARA Community.

This grant is to support small and medium businesses within the SARA Community to scale up their business.

Ayodele Olojede, Head, Retail and SME Banking at Wema Bank, said, “Wema Bank is committed to empowering women entrepreneurs by providing the financial backing, tools, training, and networks they need to scale sustainably. Year after year, we’ve seen the incredible ripple effect that access, and opportunity can create in the lives of women and their communities.

“Through SARA by Wema, our goal is to create an environment where Nigerian women can dream bigger, build stronger, and lead the economy with confidence. This partnership with SheCan is a statement of belief in the power of women to transform society.”

“This year’s partnership represents more than sponsorship; it is a tangible investment in helping Nigerian women build sustainable businesses, scale their impact, and contribute meaningfully to economic growth.

“Eligible applicants must be women-led businesses with active Wema Bank accounts and must be registered members of the SARA Community.

“Interested participants are required to submit a written pitch of no more than two pages, detailing their business and founder story, the problem being solved, target audience and competitive advantage, proposed use of the grant, and the expected outcomes and community impact. Entries must also include the applicant’s Wema Bank account number, full name, and the email address used to join the SARA Community.”

 


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General News

Unlicensed Investment Firms Fall Hard in Lagos Court

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Justice D.I. Dipeolu of the Federal High Court in Ikoyi, Lagos, has convicted two companies, FARM360 Limited and MCBHADMOS Trans-Atlantic Trade Limited, for illegal capital market operations.

The Economic and Financial Crimes Commission (EFCC) disclosed that the companies were arraigned on June 16 by the Lagos Zonal Directorate 2 of the EFCC on a five-count charge for operating collective investment schemes without valid licences from either the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).

The charges allege that between 2021 and 2022, the firms collected approximately N80 million from several investors but failed to refund the money or pay accrued interest. One of the counts stated that the companies operated without a valid licence to conduct investment management, violating Section 57 of the Banks and Other Financial Institutions Act 2020.

The companies pleaded not guilty, but EFCC investigator Nnadikwu Izuchukwu Collins presented evidence that included a petition from investors who claimed the firms promised high returns through agricultural and forex trading investments. The petition revealed the group invested a total of N93 million.

Investigations showed neither FARM360 nor MCBHADMOS held the necessary licences from the SEC or CBN. A Fidelity Bank statement revealed that the N80 million received was used for personal purposes. The directors of both companies remain at large, with efforts underway to apprehend them.

The prosecution submitted bank statements, the investor petition, and official correspondence with the CAC, CBN, and SEC as evidence, all of which were admitted by Justice Dipeolu.

The court convicted both companies on all counts and imposed fines of N5 million per count.

In a related case, the court also convicted Quintessential Investment Company Limited for similar illegal capital market activities, following its arraignment on two counts of operating collective investment schemes without CBN approval.


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Burna Boy Distances Himself from Meme Coin, Labels Crypto as Fraud

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Burna Boy, Grammy-winning Nigerian artist, has publicly distanced himself from a meme coin circulating online that falsely uses his name and image for promotion.

Burna Boy Distances Himself from Meme Coin, Labels Crypto as Fraud

Burna Boy

In a statement shared via Instagram, the Afrobeats star made it clear that he has no involvement in any cryptocurrency ventures, describing such schemes as fraudulent.

His comments come amid growing traction of a meme coin allegedly linked to him, which has been circulating on social media platform X (formerly Twitter).

“I don’t do any internet ‘coin’ business. I see it as fraud and I have no interest in any of that,” Burna Boy wrote. “So if you see anyone using my name for such, please disregard or report them.”

The singer urged fans to remain vigilant and to report anyone promoting the crypto project under false pretenses.


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