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774,000 Jobs: FG Directs Banks To Pay ESPW Participants

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The federal government on Monday directed banks to immediately pay all the participants of the Extended Special Public Works (ESPW) programme.

The banks include Fidelity, UBA, Heritage, Zenith, Access, FCMB and Yobe Micro Finance.We had on Thursday, June 17, exclusively reported that thousands of the participants were yet to be paid their stipend while others said they were paid only once. Others alleged that they were short-changed during table payment as they were not given up to N20,000.

Officials of the Federal Ministry of Labour, National Directorate of Employment and the participating banks met yesterday where they reviewed the  media story among other issues.

They did not fault the story and instead said all the stakeholders were working hard to resolve grey areas that clouded the programme which was launched with pomp and pageantry.

The three months intervention was launched on January 5, 2021 and ended on April 5.

It was meant to cushion the effect of COVID-19 by providing jobs to 774,000 people in all the local government areas in the federation.

The participants were to be paid N20,000 each for three months. Some sources said the money might be in custody of some banks.

Besides not paying them, we gathered from some sources that the selected participants were not issued with working tools despite the N4 billion earmarked for the purpose.

The actual amount released for the payment has not been made public amid allegations of wrongdoings.

Contacted last night, the Minister of State for Labour and Employment, Festus Keyamo who supervises the public works programme, said the amount so far released was N26 billion even though some sources said it was much higher.

When asked to explain the whereabouts of the working tools purchased for the programme, Keyamo said he was not involved in procurement and asked our reporter to contact the NDE.

Contacted, the Director-General of the NDE, Malam Nuhu Fikpo, asked our reporter to meet him in the office today for details on the amounts released by the FG, what was so far paid to the beneficiaries and amount spent on logistics.

The meeting of the stakeholders

After the report, the federal government yesterday summoned seven banks handling the payment of the stipend.

Giving an update after the meeting, Keyamo directed all the participants, who had no problems with their bank accounts, to immediately proceed to their banks and clarify issues.

He said: “For those who do not have problems with their BVNs but have not received payments, they should go to the banks that registered them to clarify the issues.

“The banks are mandated to issue ATM cards to all participants. Participants are therefore encouraged to collect their ATM cards from the banks so that they can access their payments from various cash points without necessarily going to the banks.

“Participants are assured that their stipends would be paid as soon as all issues are resolved.”

The minister explained further that the meeting agreed that banks were no longer restricted to their initially allotted local governments.

According to him, “Consequently, selected participants are at liberty to approach any of the seven selected banks nearest to the local government where they were selected.

“So far, the NDE has authorised the payments of one-month stipends to all those that have been verified. As shown above, all parties are making strenuous efforts to resolve issues of those yet to receive the first month stipends before the commencement of the second tranche of payments.”

The meeting had in attendance, representatives of the office of the Minister of Labour and Employment, who were: Olua Davidson, Faniyi Fatogun and Christopher Omoaghe.

Others were: representatives of the National Directorate of Employment, Olaomi Roseline Silvia, Dauda Idris, Samaila B. Mamman while the representatives of banks at the meeting included: Atinuke Sayo-Adeyemi (Access Bank), Alero Bola-Pelemo (FCMB), Fatima Garba (Fidelity Bank), ChiChi Alek (Heritage Bank), Arerepade Akagwu (UBA), Soibiye Iketubosin (Zenith Bank) and Sheriff Mohammad Ibrahim (Yobe Micro Finance Bank).

A document released after yesterday’s meeting showed that Fidelity Bank registered 104,596, verified 96,413 and paid 92,394 participants. UBA registered 100,800, verified 87,427 and paid 73,531. Heritage Bank registered 102,000, verified 84,620 and paid 61,800. Zenith Bank registered 92,700, verified 65,824 and paid 58,732. Access Bank registered 105,000; verified 62,733 and paid 58,638. FCMB registered 118,209; verified 50,083 and paid 32,696 while Yobe Microfinance Bank registered 16,642; verified 16,642 and paid 16,642.

Culled from the Daily Trust News Nigeria

Black History

Bernice King’s Redemption Bank is now the first Black-owned in the West

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In 2023, a group of Black investors based in Atlanta agreed to buy a white-owned bank, Holladay Bank & Trust, and convert it into a Black-owned one. The investors included Dr. Bernice A. King, a daughter of civil rights icon Dr. Martin Luther King Jr; Ashley D. Bell, a former White House policy adviser, and former NFL player Dhani Jones.

They planned to rename the Utah-based institution Redemption Bank and said they wanted to provide financial services to Black communities historically underserved by financial institutions while offering online banking services and small business loans.

The deal, which was awaiting regulatory approval, would mark the first time Black investors purchased a non-Black bank, a statement by Redemption Holding Company said at the time. It would also be the first time in American history that an existing commercial bank would become a Black-owned Minority Depository Institution (“MDI”) through acquisition, the statement added.

After two years, Redemption has finally completed its acquisition of Holladay Bank & Trust. It makes it the first time a bank has been owned by a Black-led investment group in the Western U.S., the AP reported this month.

The acquisition got delayed due to the collapse of Silicon Valley Bank in 2023, Bell, CEO and chairman of Redemption Holding, told the AP.

“This process has undoubtedly taken longer than any of us anticipated,” Bell said. “However, we are grateful for the diligence of the staff at the FDIC, the leadership of the (American Bankers Association), and the renewed sense of urgency from the new administration this year, all of which helped bring everything together.”

While Bell is the CEO, King is expected to be Redemption Bank’s senior vice president for corporate strategy and serve on the company’s advisory board.

With about $65 million in assets, Redemption Bank will be the first Black-owned bank not physically located within an economically vulnerable community and the first in the Rockies, according to the AP.

It will also be the only one located in the Black-banking desert that stretches from Houston to Los Angeles, the AP added.

The company will further become the 24th Black-owned bank in the nation, termed as Minority Depository Institutions (MDI). MDI is a federal designation for banks and unions that are owned or controlled by minority groups. The most recent MDI was Adelphi Bank, launched in January 2023.

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Africa

Hotel groups Hilton and Marriot announce African expansion plans

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U.S. hotel chains Hilton and Marriott have announced African expansion drives to tap into the continent’s rapid tourism growth.

Rising business and leisure travel on the continent has made it increasingly attractive for multinational companies and Hilton said on Wednesday that it plans to more than triple its African portfolio to more than 160 hotels.

The company plans to enter Angola, Ghana and Benin for the first time while returning to Madagascar and Tanzania, its statement said without providing a specific time horizon for the expansion plans.

Marriott expects to add 50 properties by 2027, it said on Wednesday. Those will include entry into five new countries: Cape Verde, Ivory Coast, the Democratic Republic of Congo, Madagascar and Mauritania.

The group’s existing African portfolio encompasses nearly 150 properties and 26,000 rooms across 20 countries and 22 brands.

Airlines have also increased their African capacity.

Emirates now offers 161 weekly flights across Africa, recently adding daily services to Entebbe and Addis Ababa. United Airlines launched a direct Washington-Dakar route in May and Delta will begin a seasonal daily flight to Accra in December.

International arrivals to the continent rose 9% year on year in the first quarter of 2025, the United Nations World Tourism Organization says, 16% above the same period of pre-pandemic 2019.

That momentum is translating into economic impact. Tourism accounts for between 3% and 7% of gross domestic product in countries such as Kenya, Morocco and South Africa, and up to 15% in tourism-heavy economies such as Namibia, World Bank and national statistics show.

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Business

AfricanShowcase 2025 Set to Transform Barking Town Centre into a Celebration of African Culture and Commerce

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Barking Town Centre will come alive with the sights, sounds, and flavors of Africa as AfricanShowcase 2025 arrives for a one-day festival spotlighting the continent’s vibrant culture, commerce, and creativity.

Set for Wednesday, August 13, this dynamic event will feature over 30 curated stalls offering authentic African wares—from handwoven textiles and artisan jewelry to gourmet delicacies and unique cultural artefacts. Designed as both a cultural festival and a business platform, AfricanShowcase connects the public, press, and buyers directly with African creators and entrepreneurs.

Festivalgoers can expect a packed lineup of live entertainment, including performances by drummers, dancers, poets, and singers from Gambia, Ghana, and Nigeria. A high-energy runway fashion show will highlight cutting-edge African designers, while interactive workshops will invite participants to try traditional Kente weaving and head wrap styling.

The event also boasts uplifting music by Afrobeats DJs and a local gospel choir, along with a lively cultural procession that will wind through Barking Town Centre.

Sponsored by LemFi, Abfoods, Mr. Fatai Abiola, and 1Accord Living Ltd, the showcase is proudly supported by the London Borough of Barking and Dagenham Council and Town Centre Manager Lianne Douglas.

“AfricanShowcase is more than a market—it’s a celebration of Africa’s rich heritage, a platform for African businesses, and a joyful reminder of the beauty of cultural exchange,” said Ola Mustapha, Founder of Kiskirine Events Ltd.

Launched in Brent in 2003, AfricanShowcase has evolved into a signature event for celebrating African excellence in the UK, drawing crowds from across the capital. The 2025 edition promises a vibrant day of community, connection, and cultural pride.

 

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