Business
Church, Community At Loggerheads Over Members Burial Rights
Trouble is now brewing between the Isiokpo council of chiefs in the Ikwerre Local Government Areas of Rivers State and the Ikwerre Diocese of the Anglican communion over the refusal by the church to allow the chiefs councils to conduct a valedictory service in honour of one of its departed member, Chief Smgles Chukwuigwe.
The Tide learnt that the body of the late Smgles Chukwuigwe whowas a member of the council of chiefs as well as an Anglican was not allowed to be taken to the council’s hall for a valedictory service.
The situation, The Tide learnt angered the chiefs who protested the action and described it as a slap on the face of the community.
Addressing newsmen on the situation, the chairman of the Isiokpo councils of chiefs, Chief Wobodo Amadi. Blamed Bishop Blessing Enyindah for the development, stressing that the action has degenerated the age long customs and tradition of the people of Isiokpo and the entire Ikwerre nation.
Chief Wobodo said that the valedictory ceremony which was always conducted in the chiefs hall is devoid of fetishes and other satanic vices.
Also speaking, Chief Tasire Amadi condemned the action of the bishop, stressing that Isiokpo was not the only place where chiefs paid their last respect to their departed colleagues.
He said that the bishop would have consulted the chiefs council before stopping the corpse from being taken to the chief council.
Chief Samuel Amadi, Matthew Aleru, Ikechi Wigwe and Moor Woka who also spoke on the same vein called for mutual respect between the church and the community in the interest of peaceful co-existence.
Reacting, the Bishop of the Ikwerre Diocese of the Anglican Church, Rt Rev Blessing Enyindah said the he only carried out the agelong custom and tradition of the church.
Bishop Enyindah, however assured that the church would continue to work with the community for the peace and prosperity of the area.
Business
Private sector gets N2.2tr credit in 30 days — CBN
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.
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