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Deputy Speaker Stimulates 2000 Abia SMEs with N1bn

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By Gloria Ikibah

Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, has revealed plans to stimulate economic development in Abia State through a N1 billion support package for 2,000 Small and Medium-Scale Enterprises (SMEs).

Speaking during a town hall meeting of the Renewed Hope Partners (RHP) in Bende, Bende Local Government Area of Abia State on Monday, Kalu said that the initiative was part of the Renewed Hope Partners programme to empower residents across the 17 Local Government Areas of the State.

Kalu also distributed trailer loads of rice, other food items and cash of N100 million to over 100 churches, the All Progressives Congress (APC), and various support groups,

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It will be recalled that a few months ago, the Deputy Speaker through the Renewed Hope Partners also donated N500,000,000 to support Abia residents in their businesses.

He said that the programme will partner with financial institutions such as the Bank of Industry, Bank of Agriculture, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Nigeria Consumer Credit Corporation (CREDICORP) to match the N1 billion fund.

The Deputy Speaker stressed that Abia State is an enterprising state with an impressive population of traders and business people, stressing that the initiative is aimed to stimulate economic development.

He directed the Director-General of Ben Kalu Movement (BKM), Pastor Emma Trumps Eke to ensure that the 2,000 businesses in the State are identified and structured for the empowerment.

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He said: “A few months ago, about six months ago, we gave about N500 million to the programme. We have been distributing from time to time. Today again, to support the party and the structures, we are giving N100 million.

“Can I have the DG of the Benjamin Kalu Movement? You and your team should help 2,000 businesses in Abia State, small-scale businesses. We want you to raise 2,000 businesses between now and February. Sometime in February, we are going to gather again for empowerment. Today is not for empowerment. Today is to share food and eat rice together. We will do empowerment in the first quarter of this coming year. And between now and that time, we will do empowerment, we want you to collect 2,000 names of small and medium-scale enterprises.

“We are going to support them with N1 billion for 2,000 businesses that will cut across the entire Abia State, all the local government areas in Abia State.

“You should collect the form from the Renewed Hope Office in Ojike Lane, Umuahia. Go there and pick up the form.
Make sure you return it before February. We are only giving 30 days to do this. And all those businesses, each of them will get about N500,000 to start with. And from there, we will invite the Bank of Industry, Bank of Agriculture, SMEDAN, Credicorp and all the rest of them.

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“They will partner with us to match our fund. If my office is bringing N1billion, I am sure that these other agencies will support. So, don’t get tired of submitting the forms. We might, at the end of the day by February have more than N1 billion to give to you because Abia is an enterprising state. We are traders, we are business people, we want to stimulate economic development.”

Highlighting his legislative imprints, Kalu who represents Bende Federal Constituency of Abia State said that he has sponsored 127 bills in the last two years and also delivered over 50 people-oriented constituency projects across the 13 electoral wards in Bende.

“In two years, I have sponsored 127 bills before the National Assembly. They span governance, inclusion, infrastructure, security, economic reform and so on.

“Some, like the SEDC Act, have moved from proposal to institution; other reform-driven bills continue to shape national debate and policy direction, reflecting a legislative agenda that responds to real needs, not abstract ideas.

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“Guided by town halls and citizens’ requests, over 50 constituency projects are executed or ongoing across Bende. Schools and ICT centres have been delivered, health centres, access roads and link roads, as well as Agricultural
processing centres such as an ultra-modern rice mill. Electricity restoration, water projects, boreholes, desilted waterways, and skills facilities are also ongoing.

“Collectively, these projects are spread across the wards and communities of Bende, including Item, Uzuakoli, Igbere, Ozuitem, Alayi, Ugwueke, Itumbuzor, and Lohum Imenyi, ensuring balanced delivery that responds to local needs and
everyday realities.

“Beyond infrastructure, over 150 constituents have received employment facilitation, scholarships, and overseas training. About 1,600 individuals accessed the Benjamin Kalu Grants, and nationally, 37 entrepreneurs, one from each state and the FCT, were empowered. Additional support includes livelihoods, youth and women initiatives, and skills training”, he said.

The Deputy Speaker profoundly appreciated President Bola Tinubu, for his invaluable assistance and leadership.

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He specifically applauded the President for his economic and financial re-engineering, fuel subsidy and fiscal restructuring, tax reforms and the improvement on power and electricity, education, international relations, security and state police, social protection, agriculture and food security, business, MSMEs, and jobs.

Kalu however called for patience and more support for the President, assuring that the government will not fail the people.

“Representation is continuous, rooted in people’s needs, and our commitment is to keep building until Bende and Nigeria thrive.

“We must give honour where it is due. In the last two and a half years, our nation has navigated turbulent global economic waters. That we are standing strong
today is a testament to the steady hand of President Bola Ahmed Tinubu. I want to use this platform to thank Mr. President for his role as the Unifier-in-Chief. He has not only stabilized our great party, the APC, but has also engendered a harmonious relationship between the Executive and the Legislature that is unprecedented in our democratic history. This stability is not accidental; it is the bedrock upon which development is built. Because the centre is holding, we in the legislature can work.

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“My people, there are several other programmes in the pipeline, including the unemployment benefits scheme soon to be launched by Mr. President to cater to our unemployed youth. Your legislature is working. Your President is working. And your Deputy Speaker, from Bende to Abuja, is working tirelessly, accountable to you, driven by the conviction that Nigeria’s best days are not behind us but ahead of us. I ask you today: Support President Tinubu. Support our party, the All Progressives Congress. Support the Renewed Hope Agenda. Support Nigeria. We are not just rebuilding a country; we are building a legacy for our children”, Kalu added. 

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INEC accommodates SDP in Osun guber poll ballot

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The Independent National Electoral Commission INEC said it has began the reproduction of ballot papers for the Osun State Governorship Election to accommodate the candidate of the Social Democratic Party SDP, Dr Francis Olugbenga Ajala, and his running mate, Faseke Babajimi Oladipo, who have now been added to the ballot.

In a statement signed by the National Commissioner and Chairman, Information and Voter Education Committee at INEC, Mohammed Kudu Haruna, the Commission said the action was taken in compliance with the judgment of the Federal High Court, Abuja, delivered on 22nd July 2026 in Suit No.

FHC/ABJ/CS/344/2026, in a matter between the Social Democratic Party and Dr Francis Olugbenga Ajala on one hand, and INEC on the other.

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According to the statement, the court had ordered the Commission to forthwith recognise, accept, upload, process and publish the name and particulars of Dr Ajala as the candidate of the SDP for the election.

“The Commission wishes to inform the public that the reproduced ballot papers will arrive in Osun State on Thursday, 13th August 2026, and will, same day, be moved to Local Government Area offices across the State, in line with its standard distribution procedure ahead of the election,” the statement read.

With the addition of the SDP candidate, the total number of political parties contesting the governorship election, scheduled for Saturday, 15th August 2026, now stands at 15.

INEC noted that the result sheets for the election are also being reproduced alongside the ballot papers to reflect the inclusion of the SDP candidate.

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Police stop Amotekun, vigilantes from Osun guber poll

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The Nigeria Police Force has stopped the Western Nigeria Security Network, popularly known as Amotekun, vigilante groups and other non-state security outfits from participating in security operations for Saturday’s Osun State governorship election.

The Force warned political parties, candidates and their supporters against engaging, arming or deploying such groups for election-related activities.

The directive was communicated through a statement from the Force Public Relations Officer, CSP Ani Iniedu, speaking on behalf of the Inspector-General of Police, Olatunji Rilwan Disu.

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According to the police, these community and quasi-security formations will have no involvement whatsoever in election-related security functions. This includes activities such as escorting electoral materials to polling locations, providing security at polling units, setting up checkpoints, or carrying weapons in connection with the election.

The police also issued a broader warning to political parties, their candidates, supporters and the general public, cautioning against violence, intimidation tactics and thuggery in the lead-up to and during voting. The Force stated plainly that persistent election-related crimes, among them snatching ballot boxes, intimidating voters, buying votes and confrontations between opposing camps of supporters would not be permitted to occur unchecked, as individuals implicated in these offences, whether as the ones physically committing the acts or as those funding and organising them, will face arrest and prosecution regardless of their political connections or standing in society.

The Force named the agencies authorised to handle election security: the police itself, the Department of State Services (DSS), the Nigeria Security and Civil Defence Corps (NSCDC), the Nigeria Immigration Service, the Nigeria Correctional Service, and the Federal Road Safety Corps (FRSC). They are expected to cover all polling units, collation centres, election materials, officials, observers, journalists and voters alike in the 30 Local Government Areas in Osun State.

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CBN Opens Applications for Second Cohort Of Regulatory Sandbox Programme

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The Central Bank of Nigeria has commenced applications for the second cohort of its regulatory sandbox programme, inviting innovators, financial institutions, virtual asset service providers, fintechs and technology companies to submit proposals for supervised testing of new financial products and services.

The application window opened on August 12, 2026, and will close on August 31, 2026, according to a statement signed by the acting Director of Corporate Communications and Investor Relations Department, Hakama Sidi-Ali.

The CBN said the second cohort builds on its efforts to promote responsible innovation within Nigeria’s financial system while maintaining consumer protection, financial stability and market integrity.

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Under Cohort 2, the programme will operate through two dedicated testing tracks.

The first is the virtual asset service provider track, which is designed to support innovative solutions involving virtual assets, stablecoins, payments, settlement, custody, wallets and related financial infrastructure that require supervised live testing.

The second is the data-enabled financial services track, which will support innovations that use secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, operational efficiency and consumer outcomes.

The CBN explained that its regulatory sandbox provides a controlled environment where eligible participants can test innovative financial products, services, business models and enabling technologies under the supervision of the apex bank.

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According to the bank, the arrangement allows regulators and innovators to engage throughout the testing process, enabling the CBN to better understand emerging technologies while allowing companies to test their solutions within clearly defined regulatory parameters.

The apex bank said the launch of the second cohort reflects its commitment to developing a transparent, proportionate and risk-based regulatory framework capable of encouraging innovation without compromising monetary and financial stability.

It added that lessons gathered from supervised testing would contribute to the development of regulatory and supervisory frameworks for Nigeria’s evolving digital financial ecosystem.

Eligible applicants will be assessed based on several criteria, including the level of innovation, readiness for controlled live testing, potential benefits to consumers or the market, governance structures, risk management capacity and the suitability of their proposed testing plans.

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Successful participants will conduct supervised testing within parameters agreed with the CBN.

The bank said the testing process would include safeguards covering consumer protection, operational resilience, cybersecurity and regulatory reporting.

However, the CBN stressed that participation in the regulatory sandbox should not be interpreted as a licence or approval to operate outside the specific testing parameters approved by the bank.

It said the programme is intended to facilitate responsible experimentation, strengthen engagement between regulators and innovators, and support evidence-based policymaking in accordance with the CBN’s statutory mandate.

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Interested organisations are required to submit their applications through the CBN regulatory sandbox portal before the August 31 deadline.

The latest initiative comes as Nigeria’s financial sector continues to see rapid development in digital payments, fintech services, virtual assets and data-driven financial products, increasing the need for regulatory frameworks that can accommodate emerging technologies while managing associated risks.

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