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Agbakoba Urges Buhari To Review Banks’ Lending Policy

Published

11 years ago

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A maritime lawyer and rights
activist, Dr Olisa Agbakoba (SAN), has urged the President-elect, Muhammadu Buhari, to review the lending policy of banks.
Agbakoba made the plea in an interview with newsmen in Lagos on Thursday.
“The heartbeat of any economy is the financial services sector, but because the financial services sector is pursuing the wrong agenda, it is not growing.
The financial services sector namely banks, lend money to big men but banks are known to lend money to the average Nigerian.
“The lending policy of banks is something the Nigerian president must correct. It is not enough to identify two or three billionaires and one bank gives all the money.
“The country cannot grow that way. It will just simply make one man rich, but when lending is done on a consumer basis, what we call consumer banking, then, 175 million Nigerians potentially can be borrowing and that is the only way that the banks can really, truly grow and become giant.
“This is the model that banks follow abroad. Lend money to everybody across the board, but the problem with lending money across the board here is that the banks are interested in getting their money back.
“Which means that the institutions supporting the financial services sector, the laws, must be strong.
“No bank would give money; you cannot pay and then to take you 10 years in court.
“The two things in the financial services sector would be a change in the lending procedure but strengthen the recovery procedure.’’
According to him, banks prefer to give secured credits.
Agbakoba said the incoming administration should be bothered about how to raise revenues in view of dwindling resources.
He said that the business community had a lot of business ideas, but no financial capacity.
“Development is driven by national guarantees. You will find that the business community would have a lot of ideas but no financial capacity.
“It is the government that provides the guarantee. This is standard practice everywhere across the world. You would have an Export-Import Guarantee Bank (NEXIM).
“So, if they approve what you are doing; so, I want to set up an airline. It will cost me 100 million dollars.
“I don’t have it, I have this.
“The government looks at my papers; they give Boeing a guarantee. So, Boeing knows that if there is a default, they go against the government.
The maritime lawyer said the final challenge for the president-elect “is planning’’.
According to Agbakoba, without planning, all these suggestions will not be achieved as the president-elect needs professionals and right pegs in the right hole in his cabinet.
He suggested that the Federal Executive Council (FEC) should now revert to its real function of development agenda for Nigerians and not a contract-awarding body.
The maritime lawyer said that if all the measures “are put in place, government will be looking toward saving between 30 to 40 per cent of the national income’’.
Agbakoba said the savings could be ploughed into sectors like education, infrastructure and housing, among others.

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Transport

Automated Points Concession : FAAN Workers Gave 72hrs To Revise Decisions In PH

Published

6 days ago

on

March 2, 2026

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The trapatriate Unions conprising the National Union of Air Transport Employees (NUATE), and the Air Transport Service Senior Staff Association of Nigeria, (ATSSSAN),  has given 72 hours Ultimatum to Federal Airport Authority of Nigeria FAAN, Omagwa Airport, Portharcourt to revise its recent decision on the concession of Tollgates and Parks to private hands.
The chairman of the Trapatriate Union, Comrade Felix Ohwoefe gave the Ultimatum yesterday immediately after the joint Unions meeting held at the Airport office of the union, Omagwa, Portharcourt.
Comrade Ohwoefe who double as the chairman of the National Union of NUATE said the two Unions have agreed to take drastic actions if the Authority of the Airport declined to step down it’s decision of concessioning the major revenue points to private hands.
According to the Union chairman, the  two union was not aware of the  concession plans, and that there were no due process to the procedures.
Comrade Ohwoefe said any attempt for the Airport Management to decline it’s demands towards the concession will result to barricading all entrance and access points of the Airport.
Expressing the  the challenges associated to the concession, the Union Chairman said the gesture might resulted to massive sack of workers in the Airport.
The chairman also expressed foul play on the part of either individuals or government in the terms and conditions so given to the concessionaires, demanding the reasons of contracting the automated points to private hands for only 14 millions, when the FAAN is presently generating over 28 million naira monthly, even when the tariff was not  reviewed upwards.
He describes the process to the procedures as fraud with intention to increase unemployment in the state.
“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.
“Secondly, if the concessionaires is taken over, they must pay higher than what the FAAN is generating presently, we are generating to the Management over 28 Millions monthly, but we had that the private company is required to pay only 14 Millions monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.
“The process is fraud either on the part of individual in the Government, or Government itself.
” The unions is saying no to the Concession until we come to a terms of understanding ourselves., we are afraid of loosing workers, we don’t want to loose any workers if due process is not followed in this hard of economy,  we even demanding for employment of more workers in FAAN.” Comrade Ohwoefe said.
The Union used the opportunity to called on the minister of aviation, and the President of the Country, Bola Tinubu to intervene.
When contacting the Management of the Airport Authority through the head of Corporate Affairs, Dr Ngozi V. Onyeanwuna-Nwosu,  she said the management has not given her the approval to say something.
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Transport

FAAN Announces Pick-Up Points for Go-Cashless Cards

Published

6 days ago

on

March 2, 2026

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The Federal Airports Authority of Nigeria (FAAN) has announced designated pick-up points for individuals wishing to obtain their Go-Cashless cards ahead of the March 1, 2026 deadline.
This was announced in a statement signed by the Director Public Affairs and Consumer protection, Henry Agbebire  and made available to the Tide last Friday in Portharcourt.
According to the statement,  Go-Cashless cards is at all  FAAN commercial offices and access gates of Airports in the country .
The release further stated that cards will also be available at designated branches of Fidelity Bank Plc from March 16, 2026.
FAAN in the statement said the cashless policy followed the Federal Government directive mandating all Ministries, Departments and Agencies (MDAs) to transition to a cashless system to enhance transparency and reduce revenue leakages as well improve transaction traceability in the Aviation sector.
FAAN  reiterated its commitment to full compliance with the directive, appealing to the public for their understanding and cooperation during the transition period.
FAAN also inform that the Go-Cashless cards can still be obtained at the designated points after the March 1, deadline.
The Authority assures airport users that the initiative will promote faster, safer, and more convenient transactions across its airports nationwide.
By: Enoch Epelle
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Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

Published

1 week ago

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February 27, 2026

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Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).
According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.
 Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.
During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.
He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.
Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.
Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.
These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.
Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.
 This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.
It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.
It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
By: Nkpemenyie mcdominic, Lagos
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