Business
RSG’s New Approach To Crime:What The People Say
Last week, the Rivers State Government took the
war against kidnapping, cultism and other crimes to a new level by demolishing properties allegedly owned by some kidnappers.
Earlier, Governor Nyesom Wike had offered amnesty to kidnappers and cultists who would submit their arms to security agencies and commit themselves to honest living.
How do Rivers people view this approach to war against crime? Our correspondent, Calista Ezeaku, sought opinions of the public on the burning issue. Our photographer, Ken Nwuieh captured their images
Mr. Martin Nsidebe Philip – Transporters
I think the decision by the Governor to grant amnesty to kidnappers and cultists is a welcome development. Even in the eyes of God, when a sinner repents and comes back to God, God receives him and forgives him. So the governor forgiving the repentant criminals is a good thing. I also think the governor took a right step by demolishing the properties of the criminals because when there is no place for them to hide, they will run away, or they will repent.
Captain Dogood David – Sailor
If Governor Wike is willing to grant them amnesty, that is a good thing for them and I believe that will reduce the high rate of crime in the State. Even in the sea where we work, the crime is on a daily rise. There is no rest of mind for the people that travel by sea. Everybody is scared. Just last Monday, some boats were robbed in the sea. So if the governor is bringing such idea, I think that will be the best thing for them and for all of us.
If the governor is sincere about the amnesty, I believe that will lure the criminals to come out and turn a new leaf because they are human beings. You know some of them are born criminals, but some of them got into it because of hunger, poverty, unemployment. So the amnesty will help this set of people to stop living bad lives and be useful to themselves.
However, I do not think it was proper for the properties of these criminals to be demolished. Since the governor has granted them amnesty, he should first of all see the response of these boys to the amnesty move. If they refuse to turn a new leaf, and continue perpetuating crime, then he can now demolish heir properties. So I will advice that the governor should wait for a little while and see whether the bad boys will turn a new leaf before he goes after them drastically.
Mr. Gab Gbaarabe – Politician
I think in the real sense, the killings in Rivers State is getting out of hand, to the extent that some people are now packing away from the State. People are packing from the rural areas to township. Getting to township, the same problem exists. So, I don’t know exactly what we are going to do. But you see, the governor is trying. The man is really trying. Two, three months ago, the crime rate was very high but now, I think the situation is coming down. But to me, I don’t love the idea of granting amnesty to the criminals. What about the people who are not making any trouble? They will find ways to start their own trouble so that they will benefit from the government too. I don’t love that. The best thing to do is to carry along all these youths, because if you have something doing, I don’t think you can think of anything bad. But when you are idle, you are susceptible to all manner of temptation.
This is Rivers State; we have a lot of things to do here. We have a lot of companies. So the best thing is to provide jobs for these youths. Empower them. If you go to the rural areas you will know that people are suffering because of this hard time. Some of them are even snatching handsets. A handset that the owner bought for N50,000.00, they wouldn’t mind selling it for N500.00.
On the issue of demolishing buildings belonging to kidnappers, I don’t think that is a nice idea because they are going to do the worse. When you drive them away from where they were living, they are going to do the worse. You drive them away, they will go and settle some other place and reorganize themselves.
So, I’m not in support of that action. The best thing is to call all these boys and empower them. Recently, the governor is trying in fighting crime but he should try more. You don’t need to pet all these criminals. He should empower them. And the police should support the governor by doing the right thing, carry out their duties professionally. A situation where a known criminal is arrested with arms, taken to the police station only for the police to grant him bail for highest N50,000.00, does not help matters. And that’s why people say the police helps in promoting crime.
Rev. Austin Benson – Business man
I believe granting amnesty to kidnappers and other criminals that have been making the state hellish is a nice thing. If government can do it, it will reduce the level of criminalities in the state. I believe the amnesty will make these bad boys to stop their evil ways and begin to do good. I also want to commend the governor for taking the bold step in demolishing the properties of these criminals which had been serving as their hideout. I believe that will reduce crime in the state. I therefore, want to appeal to all those involved in kidnapping, killing and all that, to make use of the golden opportunity being given to them by the governor. They should come out, dialogue with the government and use the amnesty programme to re-organise themselves in the right direction. But the amnesty should not be for only the criminals. Let it extend to all the people that are unemployed. Attention should not be paid on criminals alone. The good ones should also benefit.
Mrs Celine Eli – Teacher
In as much as I am worried about the growing crime rate in the state, I do not think granting amnesty to the criminals will bring a lasting solution to the problem. Take for instance the federal government’s amnesty to Niger Delta militants. Has it solved the problem of militancy and agitation in the region? I don’t think so. Rather, a few people, both militants and non-militants used the programme to enrich themselves while the region remains in its pitiable condition. Today, we hear about another militant group called Niger Delta Avengers. They have been blowing up pipelines and causing all sorts of havoc in the region.
So amnesty is not the way out. I mean, we should stop parting criminals at the back all the time. What about the good people, how do you encourage them to remain good? Some of these boys have killed many people, kidnapped many, tortured them, and caused them all manner of psychological trauma; some of them have raped many women and all that. Do you just receive them with a hand shake and tell them to “go and sin no more?” Do you think all the people they have hurt will be pleased with that and be happy seeing them roam freely on the streets and in their communities? I believe we have laws in this country and whoever commits crime must be made to face the consequences of his or her action. That will serve as a deterrent to others.
Having said that, I also think government should take a step further, by getting to the root of these problems. Many of these young ones were used and dumped by politicians during past elections, a lot of them are jobless. Many years after graduating from universities, they could find no job, yet the harsh economic situation of the country keeps biting very hard. So, some of these issues must be addressed and government devices ways of caring for our youths and making them more useful. Otherwise, what we see today might just be a tip of the iceberg.
On the issue of demolishing the properties of criminals, I am not comfortable with that at all. In the first place, we were not told that these people have been arrested, prosecuted and found guilty by competent courts. I think, in as much as drastic measures should be taken to rid the state of criminals, it should be done in accordance with the law. Actions that could make the state seem lawless or make people term the fight against criminals a political vendetta should be avoided as much as possible.
Mrs Paulina Hillary – Businesswoman
I think the amnesty is a good idea because it will make the bad boys to stop all the bad, bad things they do. It will help them repent from their evil ways and become useful to themselves, their parents and the society at large.
Going ahead to demolish these properties was also good because that will really make them know that government is after them. No reasonable person will sit down, fold his hands while his enemy overruns his house. These criminals are enemies of the people and government and Governor Nyesom Wike had said that any of them who does not want to allow him sleep will also not sleep. So it is good as the governor is giving them fire for fire. Any of them who does not want to be caught up in the battle should repent and embrace the amnesty programme.
Business
33 Banks Raise N4.65tn As Recapitalisation Ends
The Central Bank of Nigeria (CBN) yesterday said 33 banks have met new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the financial system.
The apex bank disclosed this in a statement marking the end of the exercise, which commenced in March 2024 and drew participation from domestic and foreign investors.
The statement was jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali.
The statement said “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, the CBN Governor, Olayemi Cardoso, said in the statement, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
“All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank stressed that the exercise was executed without disrupting banking operations, ensuring uninterrupted access to services nationwide.
It further stated that key prudential indicators have improved, particularly capital adequacy ratios, which remain above global Basel benchmarks.
The minimum ratios were set at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
The bank also said the recapitalisation coincided with a gradual exit from regulatory forbearance, a move it said improved asset quality, strengthened balance sheet transparency, and enhanced overall stability.
To preserve these gains, the CBN said it has reinforced its risk-based supervision framework, mandating periodic stress tests and adequate capital buffers for banks.
It added that supervisory and prudential guidelines would be reviewed regularly to strengthen governance, risk management, and resilience across the sector.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement said.
The Tide learnt that foreign capital inflows into Nigeria’s banking sector rose by 93.25 per cent year-on-year to $13.53bn in 2025, up from $7.00bn recorded in 2024, amid the ongoing recapitalisation drive by the Central Bank of Nigeria.
Data from the National Bureau of Statistics capital importation report showed that the banking sector remained the dominant destination for foreign capital, accounting for $13.53bn of the total $23.22bn recorded in 2025, representing 58.26 per cent of total inflows, up from 56.81 per cent in 2024.
The surge reflects heightened investor interest in Nigerian banks as they raised fresh capital to meet new regulatory thresholds introduced by the apex bank, with industry-wide recapitalisation activities driving large-scale inflows across all quarters of the year.
However, the Centre for the Promotion of Private Enterprise (CPPE) recently raised concerns over weak credit flows to small businesses despite recent banking sector reforms.
The CPPE, led by a renowned economist, Dr Muda Yusuf, acknowledged that the ongoing bank recapitalisation exercise by the CBN has strengthened the financial system, but warned that the benefits have yet to translate into meaningful support for the real economy.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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