Business
Tension In Abia As Bandits Raid Banks
There was palpable fear and tension among residents and banks in Umuahia, the Abia State capital and Aba, the commercial nerve centre, Monday, over alleged mails from armed robbers who warned of imminent attacks.
Some branches of the banks in the capital city closed down yesterday when newsmen visited their premises. Staff of the banks that pleaded anonymity confirmed that the banks received a letter from robbers notifying them of their visit.
“This is the second time we are getting such letter in one week,” a source said.
Contacted, Abia Commissioner of Police, Mr. Jonathan Johnson said no bank in Umuahia had notified the police of any such letters, but that the police would not take the rumour for granted as top security measures are being put in place to contain the situation.
He decried the attitude of some persons or institutions that hoard information from security operatives.
However, he expressed concern over the security situation in the state, but said his men were on top of it.
“Our handicap is that our riffles cannot be compared with that used by the hoodlums, but we are on top of the situation,” he assured.
He said additional 1000 mobile policemen had been deployed to the state to help beef up security.
Investigations by our source have revealed that while some banks refused to open for business, others operated under tight security as customers and visitors were subjected to serious security checks.
Meanwhile, the Abia State Government has re-assured residents of Aba, the commercial nerve centre of the state of their maximum security and protection.
Special Adviser to Governor Theodore Orji on Electronic Media, Mr. Ugochukwu Emezue who gave the assurance in Umuahia while reacting on security situation in Aba , appealed to bank workers in Aba to resume operations in the interest of the innocent members of the public.
He assured that the security apparatus has been reinforced to contain the new wave of bank robbery in the city.
While dispelling rumour that Abia has become a lawless state, the governor’s aide said that crime rate in the state especially bank robbery has reduced significantly until the recent incidents.
While appreciating the efforts of the police in combating crime in the state, he decried the withdrawal of soldiers from the joint military patrol teams and urged the military authorities to return their men to complement the efforts of the police.
He urged robbers and perpetrators of other violent crimes to embrace the current amnesty offer granted to kidnappers by the state government and key into the Federal Government amnesty package for a better and legitimate means of livelihood.
Emezue said the state government is consulting the Chinese embassy on a possible skill acquisition programme in China for the repentant criminals.
It will be recalled that banks in Aba embarked on impromptu and indefinite strike after last Tuesday’s raid of some banks in the commercial city by armed bandits who carted away undisclosed sums of money.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
