Keystone Bank Limited has partnered with the Lagos Chambers of Commerce and Industry to launch an annual SME Support Centre to support the micro, small and medium scale enterprises in Lagos State and by extension Nigeria.
Browsing: Lagos State
The Lagos State Government on Wednesday said 276,000 people have been displaced by Sunday’s gas inferno that engulfed the Abule Ado and Soba areas of the state.
The Lagos State Government has urged residents to reduce all forms of public and social gatherings as part of the preventive measure to curtail the spread of the Coronavirus disease in the State.
The Academic Staff Union of Universities says it has reached concrete proposals with the Federal Government on the ongoing warning strike embarked upon by the union.
The Greater Lagos Regatta and Festival will accelerate the economic growth of Lagos State by heightening investor’s interests in the potentials of state, the organisers have said.
The Nigerian Railway Corporation says the newly established Nigeria Security and Civil Defence Corps Railway Command, Lagos will help checkmate rooftop riders on moving trains.
Yoruba Leader, Emeritus Professor Adebanji Akintoye, has called on the Federal Government and state governments to conduct thorough investigation into the unusual spate of fire incidents in Nigeria and particularly in Yorubaland.
A 43-year-old hairdresser, Oluwayemi Olayinka, who allegedly beat up a policewoman and threatened to kill another on Tuesday appeared in an Ikeja Chief Magistrates’Court in Lagos State.
The Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo, on Monday commiserated with traders and others victims of Sunday’s tragic explosion in Abule Ado, Amuwo Odofin Local Government Area of Lagos State.
The Lagos State Government on Monday set up a N2 billion Emergency Relief Fund to assist victims of Sunday’s explosion at Abule Ado area of the state.
Some Abule Ado residents in Lagos State, who were affected by Sunday gas fire outbreak, have started packing their belongings to different destinations.
The Nigerian National Petroleum Corporation on Sunday said the reported explosion which rocked Abule Ado Area of Lagos State in the early hours of the day was as a result of gas explosion.
The National Emergency Management Agency says 15 corpses, including a family of four, have been recovered from the scene of Sunday’s explosion at Abule Ado, Trade Fair axis of Lagos State.
Haufei Restaurant and Mall, a Chinese eatery in Lagos State, has been sealed by the Federal Government for refusing to serve Nigerians.
The Lagos State Governor, Babajide Sanwo-Olu, has said his administration will continue to support activities and programmes aimed at raising the capacity of women to fight poverty and diseases that may limit their ability towards attaining their potential.
The management of Lagos State University, Ojo said 76 students would be awarded with first class degrees as the university holds her 24th convocation ceremonies this month.
The Lagos State Government through its Ministry of Home Affairs says it will review the law on Money Lending in the state.
The Commissioner for Home Affairs, Olanrewaju Elegushi, made this known on Friday during a Stakeholders’ Forum with Money Lenders in Lagos State in Ikeja.
Elegushi said there was the need for a review as the laws guiding the operations of the lenders were obsolete.
He said: “You will all agree with me that some of the laws guiding our operations require total overhauling, while others have become obsolete and archaic.
“We should therefore feel free to make our inputs and suggestions as these will help us as we approach the State House of Assembly for a more robust and all encompassing amendment on the laws on money lending in Lagos State.
“It is our expectation that the laws will have a friendly approach to the government, practitioners and the beneficiaries who constitute the larger picture of our society.”
The Commissioner said there was the need for the ministry to have a befitting law and control the money lenders, bearing in mind the great role money lending plays in the micro-economy of the state.
He said: “As regulators, we cannot be a judge in our own case.
“This is why we have called on all of you practitioners and would-be practitioners to look at the laws guiding our activities, discuss and agree on grey areas as they affect both regulators and practitioners in the state.
“Our outcome from here today should eventually lead to creation of jobs, generate wealth, alleviate poverty and widen the tax nets in order to make small scale businesses grow and encourage entrepreneurship.
“The Governor is expecting that the outcome of this meeting will come up with a position that will ensure enabling environment for easy loan accessibility to citizens with an emphasis on pragmatic strategies for achieving positive and cost effective results in grassroots financing.
“This will invariably help in achieving the ‘Making Lagos a 21st Century Economy’ goal or the T.H.E.M.E.S. Agenda of this administration a reality.”
Olubunmi Fatinikun, Director, Ministry of Home Affairs, said the vision of Lagos State was to become Africa’s model mega city and global economic and financial hub.
Fatinikun said there was huge formality associated with banks and microfinance banks pertaining to borrowing, and this had created a gray market for lending business.
She said this clearly necessitated the need for financial intermediation and assistance by majority of the operators of the informal sectors of the economy, particularly the small scale entrepreneurs.
According to her, small scale entrepreneurs need small amounts of money to sustain their day to day survival.
She said: “It became necessary for successive administrations in the state to saddle the Ministry of Home Affairs with the responsibility of issuing money lender’s license to applicants.
“It has also embarked on the drafting of a new law which will regulate, monitor, supervise, enforce and license money lender’s activities in the state and other connected matters.
“There is no gainsaying the fact that money lenders have impacted the growth of Lagos State economy.
“Nevertheless, the state is to provide an enabling environment for all players in the money lending business for sustainable business and hitch-free operations.
“Most of the time, there have been issues which have led to litigation and many questions have been asked, some dubious operators have gone to the extent of scamming unsuspecting borrowers, leveraging on lack of instruments from appropriate authorities to escape from the long arms of the law.
“This and other incidences led to the need for government to advice that all money lenders in the state should obtain valid licence from the Ministry of Home Affairs for smooth and legal operation of their businesses.
“On the part of the borrower, patronising a licensed money lender will definitely save such persons from quacks who take undue advantage of the desperate need of the borrower by charging exorbitant interests and in case of slight delay in payment of money lent, forecloses on the property of the unfortunate borrower.”
The Director said that for investors, actions could be brought against such money lender and in the advent of establishing financial crime on the part of the money lender, the Lagos State Government should revoke the license of the lender.
She said that government would refuse to issue such operator any future licence and would also bring the full weight of the law upon offenders.
David Setonji, Chairman, Lagos State House of Assembly Committee on Home Affairs, said he would champion the relevant regulation to ensure the smooth operation of money lending in the assembly.
“I want to assure you that you have the backing of the Lagos State House of Assembly in what you are doing,” Setonji said.
An Ikeja Chief Magistrates’ Court in Lagos State on Friday ordered the remand of seven teenagers, including a 14-year-old, who allegedly belonged to a secret cult and illegally displayed dangerous weapons in public.
Justice Hakeem Oshodi of an Ikeja High Court on Friday told alleged kidnap kingpin, Chukwudimeme Onwuamadike, alias Evans, that he will have to defend himself in his criminal trial if he comes to court without legal representation.
Newly-elected 2nd vice President of Nigeria Archery Federation, Mike Egbayelo, has pledged his commitment to ensuring Nigeria becomes a force in the sport in Africa, while also aiming for the country to rub shoulders with the best in the world by way of debuting at the 2024 Olympics Olympics in Paris, France.