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SOUQ News TV Wins “SME-Centric Television Station of the Year” at Nigeria National SME Business Awards

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SOUQ News TV, Nigeria’s pioneering business, economic, and development television station, has won the SME-Centric Television Station of the Year Award at the 2024 Nigeria National SME Business Awards, organized by the Association of Small Business Owners of Nigeria (ASBON) in collaboration with the Lagos State Ministry of Commerce, Cooperatives, Trade and Investment.

The station was presented the award at the fourth annual ceremony held at the Civic Centre on Victoria Island in Lagos. The award recognises SOUQ News TV’s instrumental role in shaping the narrative around SMEs’ economic contributions and providing them with a national platform for increased exposure.

Over the past year of operations, SOUQ News TV – a member of FemyWalsh Limited – has carved out a distinct niche for itself by offering extensive coverage and innovative programming dedicated particularly to SMEs, the backbone of Nigeria’s economy. This award emphasises the station’s critical role in creating the national debate around SMEs’ economic contributions and providing them with a platform to acquire nationwide prominence.

The Nigeria National SME Business Awards was attended by representatives of the Lagos and Ogun State governors, fellow awardees from the private and public sectors such as Wema Bank, Providus Bank, Fate Foundation, Jiji Nigeria, Lagos State Employment Trust Fund among others.

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According to ASBON President Dr. Femi Egbesola, the prestigious accolade is in recognition of SOUQ News TV for its exceptional commitment to supporting and empowering small and medium-sized enterprises. “The innovative solutions, unwavering dedication, and outstanding services in the SME sector by SOUQ News have set a commendable standard in the industry.

In his acceptance speech, Vice President of FemyWalsh Limited, Dr. Idahosa Osamhanze expressed delight at the recognition, describing it as an indication of SOUQ News TV’s unique and impactful coverage and reportage. “In an industry where business and economy news are not typically covered by television stations, SOUQ News is determined to use media to develop Nigeria and Africa’s economies by shaping policy through its coverage, highlighting positive business stories, and developing narratives that are beneficial to business owners.”

SOUQ News TV Chief Operating Officer Jide Taiwo added that the award is testament to the vision of the founder Victor Walsh Oluwafemi to establish a media company that caters exclusively to the business community, and that it is a spur to do more great work. “It’s a popular saying that the reward of hard work is more hard work, and this award tells us that we have an opportunity to do more.”

SOUQ News TV is a digital satellite broadcast station, licensed for operations in Nigeria and the United Arab Emirates. Its focus is business, development and the economy.

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Just in: Kidnapped corps member regains freedom after N1.1m ransom payment

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By Kayode Sanni-Arewa

A National Youth Service Corp member, Rofiat Lawal, who was abducted along the Benin-Ore Expressway on Tuesday has regained freedom after her family paid a ransom of N1.1m

The abductors were said to have demanded an N20m ransom which her family appealed that they could not afford.

Following back-and-forth negotiations, the kidnappers reportedly reduced the N20m ransom to N5m.

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Giving an update on the incident, Lawal’s friend identified as Agbakwara, who was privy to the incident, disclosed on Saturday that Aminat has regained her freedom.

Sharing a video of the victim in a Facebook post, Agbakwara wrote, “In the early hours of Friday, the kidnappers pressured us, warning that if we failed to meet their demands, we should not expect her return.

“In desperation, I reached out to everyone I could, her colleagues in school, the Muslim association, her friends from her hometown, my fans, and her family.

“Through the collective efforts and generosity of so many, we were able to raise N1.1 million, which was sent at 4:20 pm on Friday to an account provided by the kidnappers.

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“The recipient, Isaac Ayo, claimed that his sister had also been kidnapped and assured us he would deliver the ransom alongside his own.”

He stated that Lawal was finally reunited with her family on Saturday morning.

“For hours, we anxiously waited. Finally, at around 10 pm, we received the long-awaited call: they had been released and taken to the hospital.

“This morning, we got another call confirming that Rofiat was on her way home, and the others had also safely returned to their families.

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“I want to express my deepest gratitude to everyone who contributed, shared the news, and tagged the necessary authorities. Your support made this possible,” he concluded.

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Lagos High Court sentences Indian citizens to 10years jail over procurement fraud

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By Kayode Sanni-Arewa

An Indian national Chandra Singh has been sentenced to ten years jail over N816million procurement fraud.

Justice I.O. Ijelu delivered the judgment convicting Singh on charges of bribery and retention of stolen property amounting to N816,361,386.75.

The Economic and Financial Crimes Commission (EFCC) had arraigned Singh on 24 November 2022 on a 19-count charge.

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The prosecution accused him of soliciting undue advantage for his company, CVN Engineering Limited, while employed at African Natural Resources and Mines Limited.

One of the charges stated, “That Chandra Prankash Singh, on or before 1st of January, 2021, within the jurisdiction of this Honourable Court, whilst in the employment of African Natural Resources and Mines Limited, solicited indirectly to confer undue advantage for your company, CVN Engineering Limited, in order that you influence your employee to award the supply of items costing N365,757,457.00 to CVN Engineering Limited.”

Another charge detailed a similar offence involving Neo Paints Nigeria Limited, stating, “That Chandra Prankash Singh, on or before 1st of January, 2021, within the jurisdiction of this Honourable Court, whilst in the employment of African Natural Resources and Mines Limited, solicited indirectly to confer undue advantage for your company, Neo Paints Nigeria Limited, in order that you influence your employee to award the supply of items costing N243,141,638.75 to Neo Paints Nigeria Limited.”

Singh was also accused of dishonestly retaining $4,150 belonging to African Natural Resources and Mines Limited.

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He pleaded “not guilty” to all charges, leading to a full trial.

During the proceedings, prosecution counsel Bilikisu Buhari called nine witnesses and presented documentary evidence to establish Singh’s guilt.

After reviewing the evidence, Justice Ijelu found him guilty on counts 14, 15, 16, 17, and 18.

The judge sentenced Singh to 10 years imprisonment without an option of a fine and ordered him to pay restitution of N345 million to his victim.

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The case concluded with Singh’s conviction for his involvement in the fraudulent scheme, which saw him exploit his position for personal gain.

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Just in: FG Fails To Pay NYSC Members New N77k Allowance Despite Promises

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By Kayode Sanni-Arewa

The Federal Government has failed to pay N77,000.00 earlier promised to take effect at the end of February, 2025.

Corps members confirmed receiving their February allowance on Friday night, only to find out that it remained unchanged at N33,000 — less than half of the new amount that was supposedly approved.

The development contradicts the assurances given in January by the NYSC Director-General, Brigadier General Yushau Ahmed, who had publicly stated that the allowance increment was a done deal, awaiting only the passage of the 2025 budget.

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The Federal Government has already approved the increment of your allowance. It is no longer news; we have the approval in our hands. What we are waiting for is just the passage of the budget,” Ahmed had told corps members in Katsina State, vowing that by February, they would start receiving N77,000.

However, February has come and gone, and the promise remains unfulfilled.

The Tinubu government has not provided any official explanation for the failure to implement the increase, leaving corps members stranded and frustrated in the face of a worsening economic crisis.

With Nigeria’s inflation rate soaring and the cost of living becoming unbearable, the N33,000 allowance is no longer enough for corps members to meet even their basic needs.

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Many struggle to afford food, transportation, and accommodation, as prices of essential commodities skyrocket due to bad economic policies and naira depreciation under Tinubu’s administration.

A corps member serving in Oyo expressed his disappointment, saying, ”How do they expect us to survive on ₦33,000 when everything is expensive? They told us we would get ₦77,000 this month, and now they have failed again. This government keeps making promises but never delivers.”

Another corps member in Kano lamented that the delay in the allowance increment is yet another example of the government’s insensitivity to the struggles of young Nigerians.

“We are serving our country, yet we cannot even afford decent meals. The government knows that ₦33,000 is not enough, but they don’t care. They keep making empty promises while we suffer,” she said.

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The failure to implement the promised allowance increase has further eroded trust in the Tinubu administration, which has been widely criticised for its economic policies that have. worsened inflation, unemployment, and poverty across the country.

SAHARA REPORTERS

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