🇳🇬NigeriaWest Africa
Wema Bank and EIB Global sign €50m financing deal for Nigerian SMEs
via Punch Nigeria2 min read
Wema Bank and EIB Global, the European Investment Bank’s development arm, have signed a €50m financing agreement to enhance credit access for Small and Medium-sized Enterprises in Nigeria. The facility, signed on June 19, 2026, at Wema Bank’s Lagos headquarters, is the first transaction between the two entities. It aims to support eligible Nigerian businesses, with at least 50 percent of the loans designated for youth-owned enterprises to foster entrepreneurship and job creation. The remaining 50 percent will target businesses owned, managed, employing, or primarily serving women. This initiative is supported by the European Union’s Global Gateway programme and aligns with Nigeria’s Financial Inclusion Strategy. EIB Global will also provide technical assistance to Wema Bank through its Greening the Financial Sector programme to strengthen climate-related lending and promote environmentally sustainable investments. Beneficiaries include qualifying Wema Bank customers and graduates of selected accelerator programs, such as the Investing in Young Businesses in Africa initiative. EIB Vice President Ambroise Fayolle stated the agreement promotes youth employment and gender inclusion, while Wema Bank Managing Director and Chief Executive Officer Moruf Oseni highlighted the facility’s role in deepening support for underserved economic segments and addressing gender gaps. The partnership reflects a shared commitment to youth employment, gender equality, access to finance for women en
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Lazio has officially appointed former Italy international Gennaro Gattuso as the club's new head coach. The Serie A club announced Gattuso's arrival on Tuesday, weeks after he was seen at Lazio's training center in Rome, reportedly discussing transfer plans with president Claudio Lotito and club directors. Gattuso, 48, is believed to have signed a two-year contract, replacing Maurizio Sarri. This appointment could impact Nigerian midfielder Fisayo Dele-Bashiru, whose future at Lazio was uncertain under Sarri. Gattuso's arrival may provide Dele-Bashiru with a new opportunity to secure his place in the squad. Dele-Bashiru played 24 times in Serie A last season, scoring one goal. Gattuso returns to club management after a brief period as Italy's coach, a role he resigned from on April 3 after the team failed to qualify for the World Cup. He previously managed Victor Osimhen at Napoli between 2020 and 2021. Gattuso now faces the task of rebuilding Lazio and aiming for success in domestic and European competitions.
The Lagos State Government has introduced the third edition of its Agrithon programme, Lagos Agrithon 3.0, offering a N200m funding package to support youth-led innovations and agribusinesses within the food systems value chain. The initiative aims to provide young agripreneurs with funding, mentorship, technical support, networking opportunities, and market access to help transform innovative ideas into sustainable businesses. According to the Commissioner for Agriculture and Food Systems, Abisola Olusanya, the program addresses challenges faced by young innovators, such as limited access to finance, markets, technical expertise, and strategic partnerships. She noted that strengthening the state’s agricultural innovation ecosystem is crucial for food systems transformation, aligning with the food security agenda of President Bola Tinubu and Governor Babajide Sanwo-Olu. Olusanya highlighted reforms like the transition to the Ministry of Agriculture and Food Systems and the development of the Lagos Food Systems Roadmap. She stated that previous Agrithon editions produced successful entrepreneurs and described the 2026 edition as the most ambitious, featuring a N200m grant pool and a rigorous selection process. Innovators in agricultural production, processing, logistics, cold chain management, mechanisation, climate resilience, biotechnology, and digital agriculture are encouraged to apply. Olusanya also called on private sector organizations, investors, and development partne
Prominent leaders of the National Democratic Coalition NADECO, Col Tony Nyiam retd. and Chief Ayo Opadokun, have refuted claims made by former Head of State, Gen Abdulsalami Abubakar retd.. Abubakar, in his autobiography "Call of Duty," asserted that some NADECO leaders requested an extension of military rule in 1998 and that the late Chief MKO Abiola died of natural causes. Nyiam, a key member of NADECO abroad, stated he was unaware of any recognized NADECO leader who sought to prolong military rule, emphasizing the group's objective was to end military dictatorship. He recalled a meeting where NADECO figures, including current President Bola Tinubu, unanimously insisted on a credible democratic transition. Nyiam also challenged Abubakar's account of Abiola's death, suggesting the former Head of State was either misinformed or being economical with the truth. Chief Opadokun, former NADECO General Secretary, clarified that NADECO abroad had requested a program for stability that included a people's constitution and a government of national unity headed by Abiola, not an extension of military rule. He indicated that Abubakar might have misconstrued these discussions.