The president of the Money Lenders Association, Mr Gbemi Adelekan, has urged Micro, Small, and Medium Enterprises to adopt a healthy credit lifestyle in a bid to have access to financial opportunities for business growth.
In a statement on Monday, he said he has noticed a trend, especially with microloans, where individuals move from one lender to another for funding despite having bad debts with other lenders.
According to him, a healthy credit history makes it easier to get approval for funding, negotiate better interest rates, and gain access to larger loan amounts when needed.
He said that MSMEs with multiple unpaid loans, frequent defaults, and poor repayment records often get blacklisted or disqualified from future opportunities.
“Do you realise that most licensed lenders in the country will first check your credit reports with the Central Bank of Nigeria-approved credit bureaus when you apply for a loan?
“With a negative credit profile, a person is more likely to miss out on major opportunities, like getting loans for unexpected expenses or to support their business endeavour, now and in the future.
“That is because the more loans are left unserviced, the lower the chance of qualifying for any other loans or accessing credit with good terms and conditions which in turn saves money on interest,” he said.
It also relates to various aspects of being financially literate and understanding various aspects of finance, including budgeting, responsible borrowing, and maintaining a good credit history and track record.
For MSMEs that often operate with limited capital and tight cash flows, maintaining good credit could be the difference between growth and stagnation.
He noted that money lenders, including banks, financial technology firms, and cooperatives, now employ the use of technology to assess the risk worthiness of borrowers.
He said a healthy credit history signalled that the business was trustworthy and likely to repay loans.
Adelekan noted that many digital lenders in Nigeria and across Africa relied heavily on data and credit scores to approve loans.
Adelekan, also the Chief Executive Officer of Trafalgar Associates, owners of Kwikpay Credit, revealed that out of the over 1,000 personal and business loan applicants received daily nationwide, almost 40 per cent of them have a bad credit history.
He said, “We are using machine learning and algorithms to also analyse alternative data and non-traditional like transactions and lifestyle choices, as part of our risk assessment to extend credit, mostly starting with a low amount, to build up their transaction history with us.
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‘This high number of people with bad credit reports, he stressed, must be reduced to the barest minimum to restore access to financing, protect business credibility and reputation, prevent over indebtedness and debt traps, and open doors to growth opportunities.
He asserted that there were validation mechanisms in place in line with approved credit bureaus to streamline beneficiaries.
He added that the company had plans to assist customers with its soon-to-be loan product service linked to financial education and financial wellbeing for customers.
Adelekan said the product would encourage customers to consider the repayment of defaults with other lenders when repaying monthly.
He added that it would consider additional factors such as educational background, employment, and income to assess loan eligibility.
The Katsina State Government has declared Monday, July 14, 2025, as a work-free day to honour the late former President Muhammadu Buhari, who died in London on Sunday.
The declaration was made in a statement issued by the Secretary to the State Government, Abdullahi Garba Faskari, on Sunday evening.
Faskari said the work-free day would enable workers and residents to mourn the passing of the former president, who hailed from the state.
The statement read, “The Governor of Katsina State, His Excellency, Malam Dikko Umaru Radda, PhD, CON, has declared Monday, 14th July 2025, as a work-free day in the State. This follows the demise of Nigeria’s former President, Muhammadu Buhari, GCFR, who died earlier this evening of today (13h July 2025) in London.
“He noted that the holiday is intended to enable workers and residents of the State to join the rest of the country in mourning the loss and offering prayers for the late leader.
“Governor Radda expressed profound condolences to the family of the late President, the people of the State, and the entire nation, describing President Muhammadu Buhari as a great leader, a hero, a true democrat and a patriotic elder statesman whose life was dedicated to the service of Nigeria.”
He prayed for Allah’s mercy on Buhari’s soul and for his admittance into Aljannatul Firdaus.
The statement added that details regarding the burial arrangements would be communicated in due course.
Buhari, who hails from Katsina State, died on Sunday at the age of 83.
Most Asian markets rose on Monday as investors digested Donald Trump’s latest trade war salvos that saw him threaten to hit the European Union and Mexico with 30 per cent tariffs.
Hong Kong, Shanghai, Sydney, Seoul, Singapore, Manila and Jakarta all rose, with Tokyo, Wellington and Taipei edging down.
Bitcoin hit a new record high of $119,490.
The US president’s outburst came after a series of announcements last week, including warnings of 50 per cent levies on copper and Brazilian goods, 35 per cent on Canadian goods, and a possible 200 per cent charge on pharmaceuticals.
While observers warn the measures could deal a hefty blow to the global economy, investors are largely optimistic that governments will hammer out agreements before the White House’s August 1 deadline.
In announcing his latest measures on Saturday, Trump cited Mexico’s role in illicit drugs flowing into the United States and a trade imbalance with the European Union.
The move threw months of painstaking talks with Brussels into disarray.
European Commission chief Ursula von der Leyen has insisted the bloc still wants to reach an accord — and on Sunday delayed retaliation over separate US duties on steel and aluminium as a sign of goodwill.
EU officials threatened in May to impose tariffs on US goods worth around 100 billion euros ($117 billion), including cars and planes, if talks fail.
French President Emmanuel Macron backed efforts to reach an agreement that “reflects the respect that trade partners such as the European Union and the United States owe each other”.
But he urged the bloc to “step up the preparation of credible countermeasures” if the two sides fail to reach an agreement.
Analysts also pointed out that the levies against Mexico and Canada come even after Trump agreed to a trade deal with the two during his first administration.
Still, Asian investors brushed off Friday’s losses in New York and Europe, remaining hopeful that governments will strike deals with Washington and avoid the worst of the tariffs.
“It is hard to say whether the muted market response over the week is best characterised by resilience or complacency,” said National Australia Bank’s Taylor Nugent.
“But it is difficult to price the array of headlines purportedly defining where tariffs will sit from 1 August when negotiations are ongoing.”
Traders are also keeping a nervous eye on the Federal Reserve as Trump continues to berate boss Jerome Powell for not cutting interest rates soon enough, saying Sunday “I hope he quits”, and adding “He should quit”.
Reports also said the president’s allies were targeting the Fed chief over his handling of an expensive renovation at the bank’s headquarters, with some suggesting they were building a case to have him removed over it.
However, strategists warned that such a move would bring the independence of the central bank into question and send US Treasury yields soaring and the dollar plunging.
– Key figures at around 0230 GMT –
Tokyo – Nikkei 225: DOWN 0.3 per cent at 39,469.72 (break)
Hong Kong – Hang Seng Index: UP 0.1 per cent at 24,174.34
Shanghai – Composite: UP 0.4 per cent at 3,524.93
Euro/dollar: UP at $1.1693 from $1.1690 on Thursday
Pound/dollar: DOWN at $1.3496 from $1.3497
Dollar/yen: DOWN at 147.01 yen from 147.38 yen
Euro/pound: UP at 86.64 pence from 86.59 pence
West Texas Intermediate: UP 0.1 per cent at $68.52 per barrel
Brent North Sea Crude: UP 0.1 per cent at $70.43 per barrel
New York – Dow: DOWN 0.6 per cent at 44,371.51 (close)
London – FTSE 100: DOWN 0.4 per cent at 8,941.12 (close)
The Pro Chancellor and Chairman Governing Council of the University of Nigeria, Nsukka, and an All Progressives Congress leader in Ekiti State, Kayode Ojo, has called on South-West governors to endorse President Bola Tinubu as the sole presidential candidate for the 2027 general election.
Ojo who belittled the assemblage of some politicians under the African Democratic Congress as “a no threat” to President Tinubu’s second term ambition, said numerous initiatives of the present Federal Government to alleviate the sufferings and improve the well-being of Nigerians could be matched by any coalition.
He lauded the administration’s initiatives in the areas of Compressed Natural Gas-powered vehicles, infrastructure development, agriculture, healthcare, youth empowerment, students loan scheme and training among others
He said, “President Tinubu as a democrat believes in strong opposition, hence such coalition remains another platform for opposition members to assist the government where necessary especially in achieving the desired success on the Renewed Hope Agenda of the President.”
Ojo said a South-West endorsement rally to support Tinubu was long overdue, considering a purported wide acceptance of President Tinubu across the country, especially within the camp of main opposition Peoples Democratic Party.
“All the governors in the region, irrespective of political inclinations, should, without further delay, organise a joint endorsement rally in solidarity and appreciation for President Bola Tinubu as a sole candidate for the presidential election, just as recently done in other regions.”
While commending President Tinubu on the establishment of the South-West Development Commission, the UNN’s Pro-Chancellor called on people of the region to see the Commission as an opportunity to bring about more development in the region, hence the need for more support for the President to succeed.
Barring any last-minute changes, the All Progressives Congress is expected to set up a convention planning committee during its National Executive Committee meeting scheduled for July 24.
The PUNCH gathered that the committee will oversee preparations for the party’s National Elective Convention scheduled for December, where new members of the National Working Committee are to be elected.
Reliable party sources, who spoke to The PUNCH on condition of anonymity due to lack of authorisation, revealed that apart from replacing the national chairman, APC governors and other NEC members are pushing for a full elective convention to replace all current NWC members ahead of the 2027 elections.
Meanwhile, several NWC members have reportedly begun lobbying to limit the shake-up to just the replacement of the acting national chairman, Ali Bukar Dalori.
Article 12 (4) of the APC Constitution 2022 (as amended) lists the 22 positions that make up the National Working Committee.
The NWC includes the National Chairman, Deputy National Chairman (North), Deputy National Chairman (South), National Secretary, Deputy National Secretary, six National Vice Chairmen—one from each geopolitical zone (referred to as Zonal Chairmen), National Legal Adviser, National Treasurer and National Financial Secretary.
Others include National Organising Secretary, National Welfare Secretary, National Publicity Secretary, National Auditor, National Woman Leader, Deputy National Woman Leader, National Youth Leader, and National Leader of Persons Living with Disabilities.
Also, Article 17 titled Tenure of Office (i to iii) stated, “Except as otherwise provided in this constitution, all officers of the party elected or appointed into the party’s organs shall serve in such organs for a period of four (4) years and shall be eligible for re-election or re-appointment for another period of four (4) years only, provided that an officer elected or appointed to fill a vacancy arising from death, resignation or otherwise will notwithstanding be eligible for election to same office for two terms.
It added, “No member shall serve in the same office for more than eight (8) years continuously, except a person who first came to the office by filling a vacancy or whose tenure was truncated as a result of the decision of an organ of the party authorised to do so and not on grounds of disciplinary action.
“No member can be an Officer at the National and State levels of the party concurrently, other than being an ex-officio member of that organ.”
Despite the constitutional provision, no national chairman or NWC member has completed a full four-year term at the helm of the ruling party, as their tenures are often cut short.
Most recently, on June 27, 2025, was the resignation of former Kano State Governor, Abdullahi Ganduje, as national chairman.
This is reportedly linked to internal political manoeuvring and strategic positioning within the APC ahead of the 2027 general election.
On June 30, APC Deputy National Secretary, Festus Fuanter, announced that the party’s NEC meeting would be held in Abuja on July 24.
According to him, “And during the meeting, if they so desire that a new chairman is nominated, we’ll also accept such nomination and then wait for the convention where the final position of the party will be made as far as the substantive chairman is concerned.
“So, that’s as much as I can tell you. And the date, the suggested date for the NEC meeting is the 24th of July, 2025. It’s going to be here, on the premises of the APC.”
A reliable source told The PUNCH that Dalori is expected to remain in office until December when party delegates will elect new members of the NWC.
The source stated, “Most of the critical stakeholders and even the Presidency are not interested in nominating a new national chairman during the NEC meeting slated for July. What many have supported so far is an elective convention.
“So, at the NEC, the party may constitute a convention planning committee. I said this because the governors and other party leaders want a total change of the current NWC.
“There may be a national elective convention in December. Nobody is planning to replace Dalori in July to the best of my knowledge. Dalori will lead the party to a convention where new leaders of the party will emerge.”
Another source also confirmed that the party was preparing for a December convention to elect new NWC members to reflect the interests of certain governors and recent entrants into the ruling party.
The source said, “The ongoing conversation among party leaders is centred on the December convention. They are concerned about how new NWC members will emerge and lead the party into the 2027 elections.
“It’s not just about replacing Ganduje; the December convention is intended to produce new party leaders.
“This is seen as crucial to accommodate those who have recently joined the party and those expected to join before then, especially governors who are becoming influential in the APC’s national leadership.
“As we speak, some NWC members are already lobbying. They want to retain their positions and are trying to influence other NEC members to simply announce Ganduje’s replacement. But the broader plan is to hold a December convention to elect a new set of party leaders.”
He added, “In the coming days, the governors will brief the President. If he gives his approval, the NEC meeting in July will then constitute the necessary committees.”
Attempts to reach the APC National Publicity Secretary, Felix Morka, for a response were unsuccessful, as his phone was unreachable at the time of filing this report.
However, the Deputy National Publicity Secretary, Duro Meseko, told our correspondent in an exclusive interview that there was currently no such plan in place.
He said the NEC meeting scheduled for July 24 would decide whether a convention would be held or not.
He added that clearer direction would emerge after party stakeholders meet with President Bola Tinubu in the coming days.
He stated, “There’s nothing like that for now. Everything about whether to have an elective convention by December is for the NEC to decide. So, nobody can preempt what NEC will bring or agree to.
“We will be pre-empting the agenda of NEC. I am sure this week, we will be aware of the agenda of NEC.
“Right now, the agenda has not been fixed. But you know, Mr President is back now. He is the leader of the party, and he will relate with the party’s leadership as to the agenda of NEC on that day.”
The APC Director of Publicity, Bala Ibrahim, also stated that Nigerians should anticipate a stronger and more effective ruling party following the upcoming NEC meeting and other related gatherings.
In an exclusive interview with The PUNCH, Ibrahim urged those rejoicing over Ganduje’s exit and hoping for the downfall of the APC to reconsider their stance.
He stated, “Ganduje resigned on his own volition as the chairman of the party. He did not resign his membership of the party.
“So in whatever capacity Ganduje is, he is a bona fide member of the APC, and he’s in a position to contribute positively. So those of them who are celebrating his exit, wishing our party was bad had better change their mind and go back to have a rethink.
“From our July NEC and other meetings, Nigerians should expect a stronger APC, a more determined APC, an APC that will consolidate the gains of what it has done so far and re-emphasise the Renewed Hope Agenda of President Bola Tinubu.”
The All Progressives Congress has clinched all 57 chairmanship seats and 375 out of 376 councillorship positions in the local government election held in Lagos State on Saturday.
The Lagos State Independent Electoral Commission, which announced the results on Sunday, said the APC swept the polls in all 20 Local Government Areas and 37 Local Council Development Areas of the state.
In a major upset, however, the Peoples Democratic Party secured a rare victory in Ward D of the Yaba LCDA, where its candidate, Babatunde Dosunmu, defeated the APC contender.
Dosunmu, a former APC member, defected to the PDP shortly before the poll.
LASIEC described the elections as largely peaceful, despite concerns raised about voter turnout and alleged irregularities in some areas.
The newly elected council chairmen and councillors are expected to be sworn in later this month.
Below is the list of chairmanship election winners as released by LASIEC
Edo State Governor, Senator Monday Okpebholo, has launched ‘Operation Flush Out Kidnappers and Cultists’ to combat insecurity in the state.
While launching the initiative on Sunday, the governor also approved the establishment of a special security squad to flush out kidnappers and cultists terrorising the state.
The move, according to a statement by the governor’s Chief Press Secretary, Fred Itua, is a strategic initiative by the office of the Principal Security Officer to the governor and will be coordinated jointly by the PSO and the Chief Security Officer at the Government House.
Speaking after granting the approval, Okpebholo reiterated his administration’s zero-tolerance stance on violent crimes.
He said, “We will not allow criminality to dictate the future of our State.
“Edo State must be safe again for our children, for investors, and for those in the diaspora who want to come home and contribute.
“Security agencies have now been placed on red alert across the state.”
The governor has directed the PSO and CSO to ensure full implementation of the operation, noting that accountability, professionalism, and community engagement must remain at the heart of the new initiative.
PUNCH Online gathered that the squad would consist of a carefully profiled and recruited team of able-bodied men, including repentant cultists, hunters, and vigilantes.
These recruits will form local squads within each local government area, ensuring community involvement and swift operational response to security threats.
The Lagos State Independent Electoral Commission has declared the All Progressives Congress candidates winner of the just-concluded chairmanship elections in Badagry Local Government, Olorunda and Badagry-West LCDA.
LASIEC officials declared the results late Saturday at the Local Government secretariats in Ajara, Iworo and Kankon, respectively.
In Badagry Local Government, the Returning Officer, Mr Akinwunmi Lewis,
announcing the results at the collation centre, said the APC candidate, Mr Babatunde Hunpe, polled 27,442 votes, defeating the Peoples Democratic Party’s candidate, who scored 1,814 votes, and the Zenith Labour Party candidate, who scored 308 votes.
“Having satisfied the requirements of the law and scored the highest number of valid votes, I hereby declare Mr Babatunde Hunpe as the duly elected chairman of Badagry LGA,” Lewis declared.
Also, in Olorunda LCDA, the Returning Officer, Mr Adegboyega Oladiran, said the APC candidate, Mr Peter Kumayon, secured a total of 28,799 votes, while the ZLP candidate received 562 votes.
“The PDP, despite not fielding a chairmanship candidate, recorded 470 votes.
“Having satisfied the requirements of the law and scored the highest number of valid votes, I hereby declare Mr Peter Kumayon as the duly elected chairman of Olorunda LCDA, ” Oladiran said.
In Badagry-West LCDA, the Returning Officer, Prof. Abiodun Okedeyi, from Lagos State University of Education, announcing the results at the collation centre in Kankon, declared that the APC candidate, Mr Rauf Ibrahim, polled a total of 11,538 votes, defeating his closest rival, the ZLP candidate, who scored 73 votes.
“Having satisfied the requirements of the law by securing the highest number of valid votes and scoring at least 5 per cent of the votes in all five polling units, Rauf Ibrahim Yemaren is hereby declared the duly elected Chairman of Badagry West LCDA,” Okedeyi said.
In his message to residents after the declaration, Hunpe promised to fulfil all his campaign promises and surpass the achievements of his predecessor.
Also thanking the people of Olorunda for electing him, Kumayon promised not to disappoint them, assuring their trust in him would not be in vain.
Also, Yemaren thanked Mr Joseph Bamgbose, the Badagry-West Apex leader of APC and Mr Joseph Gbenu, the outgoing Chairman for their support.
He assured the residents that he would follow in the footsteps of his predecessor.
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