Sanwo-Olu inaugurates construction of Falomo Towers Ikoyi  - Newstrends
Connect with us

metro

Sanwo-Olu inaugurates construction of Falomo Towers Ikoyi 

Published

on

A major urban renewal project to restore the aesthetic landscape of Falomo, the commercial suburb of Ikoyi in Lagos State, has been flagged off by Governor Babajide Sanwo-Olu, on Friday.

Lagos State Development and Property Corporation (LSDPC) sealed a joint redevelopment partnership with Afriland Properties Plc, a private developer, to turn former Falomo Shopping Complex to a premium sky-high real estate that will enhance the socio-economic outlook of the neighbourhood.

Falomo Towers, being developed on 11,950 square metres of land, will offer a blend of green amenities that will promote quality living.

The project development is expected to be completed in 30 months.

Afriland Properties Plc is a subsidiary of Heir Holdings, owned by the foremost entrepreneur and banker, Mr. Tony Elumelu.

Sanwo-Olu, at the sod turning ceremony held at the project site, said the construction flag-off ended a decade-long discussion with the developer to revive the project and build iconic towers that would turn around the fallow land for the benefit of the public.

The governor said the project was another milestone achieved by his administration to renew urban amenities, stressing that the strategic implementation of the Lagos Masterplan had been dependent on the Government’s ability to forge workable partnership between the public and private sectors.

He said: “This is a phenomenal project that will bring back the lost ambience of Ikoyi. When this partnership was initiated 10 years ago, I was the Managing Director of LSDPC. It is interesting to note that we’ve all gone through arbitration but we didn’t throw a wrong punch. We agreed this project must not be thrown away. Today we are making a transaction that is bigger and better than what was initially proposed 10 years ago.

“This testifies to the uniqueness of public and private sectors in ensuring things can be made a lot better when we sit and agree. This is a clear example of what Public Private Partnership (PPP) model is out to achieve when partnerships and collaborations are pursued and implemented with seriousness. When we put our minds of possibilities to ideas, great things happen. This aptly describes the story of today’s flag-off of construction of Falomo Towers.”

Sanwo-Olu described Afriland Properties as a tested, trusted and reliable developer, saying the Corporation had found the right partner for the redevelopment project.

The governor said the Lagos State Government would remain committed to ensuring the investors get full value for their investments, while promising to continue to pursue business environment reforms, including automation of land and property records to scale up transparency and efficiency that catalyse sustainable investments.

Elemelu said the partnership was another testimony to the Lagos State Government’s belief in the private sector as a key development driver in the State, praising the Lagos political leadership for setting the pace of private sector inclusion in governance.

For surmounting obstacles that delayed the take-off of the partnership, Elumelu said Lagos remained the most hospitable environment to investors seeking profitable return on their investments.

He said: “I commend Gov. Sanwo-Olu and the political leaders of the State for believing in the private sector. What we are witnessing today attests to their beliefs in the private sector as driver of development in the State

“For private sector to do well, the political leadership must create the right environment. Lagos has set the pace in this direction. This partnership is a celebration of dialogue and this makes Lagos remain the most hospitable environment for investors.”

The LSDPC Chief Executive Officer, Hon. Ayodeji Joseph, said the project site evoked memories of a glorious past for Island dwell in the 1970s, noting that the Corporation took an informed decision to turn around the site by building residential apartments to provide additional accommodation to the growing middle class, business professionals and the swelling rank of young citizens.

He said: “Over 40 years down the line, the corporation in its decision to renew some of its facilities has deemed it fit to redevelop the site of the shopping complex, taking into consideration the realities of today’s needs as well as the environmental impact implications.

“To achieve this purpose, we decided to mobilise finance from the private sector. This decision will free resources that could otherwise be tied down to this project, for other pressing needs. In addition, it will allow the project to benefit from the competitive efficiencies for which the private sector is better known.”

Chief Executive Officer of Afriland Properties, Mrs. Uzo Oshogwe, noted that the redevelopment project was a revival of a landmark, saying: “With the project, we tend to give Ikoyi back its aesthetic landmark

She said the iconic project would enhance and beautify Ikoyi skyline, adding that the partnership would be creating economic opportunities and social wealth that would transform the State and the country.

Loading

metro

Nigeria Customs debunks fake recruitment update, warns job seekers

Published

on

Nigeria Customs debunks fake recruitment update, warns job seekers

Nigeria Customs debunks fake recruitment update, warns job seekers

The Nigeria Customs Service (NCS) has warned Nigerians to disregard a fake recruitment update circulating on social media, stating that the publication did not originate from the Service and should not be trusted.

In a statement released on Thursday, the NCS described the recruitment notice as false and advised prospective applicants to rely only on information released through its official communication channels.

According to the Service, the fake publication is part of a growing trend of recruitment scams in which fraudsters exploit the desire of Nigerians seeking government jobs by circulating false employment notices and demanding money or sensitive personal information from unsuspecting victims.

“The Nigeria Customs Service (NCS) wishes to inform the public that the purported recruitment update currently circulating on some social media platforms is fake and did not originate from the Service,” the statement said.

The Service urged Nigerians to verify every recruitment-related announcement before acting on or sharing it, warning that misinformation could expose job seekers to fraud and identity theft.

It stressed that all official information regarding Nigeria Customs recruitment, promotions, screening exercises and other activities is published only through its verified communication platforms.

READ ALSO:

The NCS advised members of the public to follow its verified Facebook page (Nigeria Customs Service) and its official Instagram, X (formerly Twitter), Threads and TikTok accounts under the handle @customsng for authentic updates.

“Members of the public are advised to disregard the publication and rely only on information disseminated through the official communication channels of the Nigeria Customs Service,” the statement added.

The Service also reminded applicants that it does not charge any fee at any stage of its recruitment process, warning that anyone requesting payment in exchange for employment should be regarded as a fraudster.

The latest advisory comes amid a resurgence of fake recruitment notices targeting applicants following increased public interest in employment opportunities within government agencies.

In recent months, the NCS has repeatedly disowned forged recruitment documents, fake screening schedules and fabricated Computer-Based Test (CBT) notifications circulated online by scammers attempting to deceive job seekers.

The Service reaffirmed its commitment to transparency, fairness and merit in its recruitment process, assuring Nigerians that whenever recruitment begins, the public will be informed through its official website and verified social media platforms.

It further urged citizens to remain vigilant by avoiding unofficial recruitment websites, refusing to make payments for employment offers and reporting suspected recruitment scams to relevant security agencies.

The NCS concluded its advisory with a reminder to Nigerians: “Stay vigilant. Verify information before sharing.”

As recruitment scams continue to evolve, the Service encouraged applicants to confirm any employment-related information through official sources before submitting applications or personal details.

Nigeria Customs debunks fake recruitment update, warns job seekers

Loading

Continue Reading

metro

ICPC uncovers 908 suspected ghost workers in Police, other federal agencies, recovers ₦942m

Published

on

ICPC uncovers 908 suspected ghost workers in Police, other federal agencies, recovers ₦942m
Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr Musa Adamu Aliyu

ICPC uncovers 908 suspected ghost workers in Police, other federal agencies, recovers ₦942m

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered 908 suspected ghost workers across at least 50 federal Ministries, Departments and Agencies (MDAs), with the Nigeria Police Force (NPF) accounting for the highest number of suspected fraudulent payroll entries.

The anti-corruption agency disclosed that the nationwide payroll verification exercise also led to the recovery of about ₦942 million in salaries allegedly paid to fictitious employees, describing the discovery as a significant breakthrough in its ongoing efforts to eliminate payroll fraud and improve accountability in the public sector.

Speaking on the findings, ICPC Chairman, Dr. Musa Adamu Aliyu (SAN), said the investigation exposed widespread manipulation of government payroll systems through the insertion of fictitious names, ineligible beneficiaries and non-existent employees into salary records.

According to the commission, ghost workers are individuals whose names are fraudulently inserted into government payrolls to illegally receive salaries despite not being legitimate employees. In some cases, public officials allegedly add the names of relatives, friends or associates to the payroll and divert the salaries for personal gain.

Aliyu revealed that investigators uncovered one case involving a suspect who allegedly placed the names of his wife, son and mother-in-law on the payroll while simultaneously collecting salaries meant for 12 other fictitious workers.

The Nigeria Police Force recorded the highest number of suspected ghost workers, with 570 names flagged during the verification exercise.

READ ALSO:

The National Water Resources Authority followed with 80 suspected ghost workers, while the Federal Ministry of Works recorded 56.

Other agencies affected include the Federal Ministry of Foreign Affairs, which had 24 suspected ghost workers, the Federal Ministry of Defence with 19, and both the Federal Ministry of Power and the Federal Ministry of Industry, Trade and Investment, each with 17 suspected ghost workers.

The Federal Ministry of Health recorded 15 suspected ghost workers, while the Office of the Head of the Civil Service of the Federation had 12.

The Office of the Accountant-General of the Federation and the Federal Ministry of Interior were also identified as agencies affected by payroll fraud, although the ICPC did not disclose the number of suspected ghost workers linked to the two institutions because investigations are still ongoing.

The commission explained that the payroll audit forms part of its broader strategy to support the Federal Government’s drive to eliminate financial leakages from the Integrated Personnel and Payroll Information System (IPPIS) and strengthen transparency in public financial management.

As part of the anti-graft campaign, the ICPC recently secured a final forfeiture order from the Federal High Court in Abuja for approximately ₦942 million traced to accounts linked to the payroll fraud scheme. The recovered funds have been forfeited to the Federal Government.

The commission disclosed that an earlier phase of the investigation initially identified 587 suspected ghost workers during a joint payroll audit conducted with the Office of the Accountant-General of the Federation. Following further verification, 120 individuals were confirmed to be legitimate employees, while investigations into the remaining suspicious accounts continue.

Aliyu said the ICPC would continue to deploy technology, data analytics and collaboration with relevant government agencies to detect payroll fraud, recover stolen public funds and prosecute anyone found culpable.

He also urged heads of ministries, departments and agencies to strengthen internal control systems, conduct regular personnel audits and ensure strict compliance with payroll verification procedures to prevent future abuses.

The ICPC reaffirmed its commitment to sanitising the Federal Government payroll system, blocking revenue leakages and promoting transparency, accountability and prudent management of public resources.

ICPC uncovers 908 suspected ghost workers in Police, other federal agencies, recovers ₦942m

Loading

Continue Reading

metro

How to apply for FG’s YouthCred loan and qualify for up to ₦2 million

Published

on

How to apply for FG's YouthCred loan and qualify for up to ₦2 million

How to apply for FG’s YouthCred loan and qualify for up to ₦2 million

The Federal Government has launched YouthCred for Entrepreneurs, a new financing initiative designed to provide collateral-free business loans of between ₦200,000 and ₦2 million to young Nigerians running micro and small businesses.

The programme, unveiled in Abuja, is part of the government’s broader effort to improve access to affordable credit, reduce barriers to entrepreneurship and support the growth of Micro, Small and Medium Enterprises (MSMEs) across the country.

According to the government, the initiative will initially support 500,000 young entrepreneurs, with plans to expand the programme to one million beneficiaries before the end of the year.

Unlike conventional bank loans that often require collateral and guarantors, YouthCred uses an alternative credit assessment model that evaluates applicants based on their business cash flow, repayment capacity and credit behaviour.

Who is eligible to apply?

To qualify for the YouthCred loan, applicants must:

  • Be between 18 and 35 years old
  • Own or operate a business
  • Demonstrate responsible credit behaviour
  • Show evidence of business cash flow and ability to repay the loan
  • Complete the required verification process

How much can applicants borrow?

Eligible entrepreneurs can access loans ranging from:

  • Minimum: ₦200,000
  • Maximum: ₦2 million

The amount approved will depend on the applicant’s business performance, repayment capacity and credit assessment.

Who can benefit?

The programme targets young Nigerians operating small businesses and providing essential services, including:

  • Caterers
  • Fashion designers and tailors
  • Make-up artists
  • Hairdressers and barbers
  • Content creators
  • Ride-hailing drivers
  • Mechanics
  • Young farmers
  • National Youth Service Corps (NYSC) members
  • ICT professionals
  • Other eligible micro and small business owners

READ ALSO:

How to apply for the FG’s YouthCred loan

Applicants can complete their application online by following these steps:

Step 1: Visit the official YouthCred application portal.

Step 2: Create an account using your email address and personal details.

Step 3: Select the Youth Entrepreneur category.

Step 4: Fill in the online application form with accurate personal and business information.

Step 5: Upload the required identification and verification documents.

Step 6: Submit the application for verification and credit assessment.

Step 7: If successful, the application will be processed through participating regulated financial institutions before the loan is disbursed.

Is collateral required?

No.

One of the major advantages of the YouthCred programme is that applicants are not required to provide collateral or guarantors.

Instead, loan approval is based on:

  • Business cash flow
  • Credit history
  • Repayment capacity
  • Overall financial assessment

Flexible repayment options

Successful applicants can repay the loan over a period of one to 12 months, depending on the repayment plan that best suits their business and financial situation.

The flexible repayment structure is intended to make borrowing more accessible while encouraging responsible financial management.

How to increase your loan limit

Borrowers who perform well under the programme can qualify for larger loans in future by:

  • Repaying previous loans on time
  • Building a positive credit history
  • Completing the platform’s financial literacy and business training modules

Government explains purpose of the scheme

Speaking at the launch, the Minister of Finance and Coordinating Minister of the Economy said the initiative was created to unlock the entrepreneurial potential of young Nigerians by giving them access to affordable financing.

According to the minister, more than 90 per cent of Nigeria’s MSMEs are microenterprises operated by individuals such as caterers, mechanics, fashion designers, ride-hailing drivers, content creators and young farmers.

He said improving access to credit would help these entrepreneurs expand their businesses, create jobs and contribute more to national economic growth.

The Managing Director and Chief Executive Officer of the Nigerian Consumer Credit Corporation (CREDICORP), Uzoma Nwagba, said the government intends to reach 500,000 beneficiaries in the first phase and one million young Nigerians before the end of the year.

He encouraged beneficiaries to repay their loans promptly, noting that responsible borrowing would strengthen their credit profiles and allow more Nigerians to benefit from the programme.

The Federal Government said the initiative forms part of its broader strategy to promote financial inclusion, stimulate entrepreneurship and empower young Nigerians with affordable access to business financing.

How to apply for FG’s YouthCred loan and qualify for up to ₦2 million

Loading

Continue Reading

Trending