Business
GLO Rewards 60 Customers In Rivers
Leading mobile operator, Glo has rewarded a total of 60 customers in Rivers State with various prizes ranging from tricycles, industrial sewing machines, power generating sets and grinding mills as part of its recharge and win big promo.
Five persons won the star prize of tricycles, popularly called Keke, 20 won sewing machines, another 20 won sumec power generating sets, while 15 others went home with grinding mills during a colourful ceremony held at the Rumuwoji, Mile one Market in Port Harcourt, Rivers State on Wednesday.
Speaking at the prize presentation of the consumer reward promo popularly called ‘My Own Don Beta’ Regional Manager of Glo, South-South, Augustine Mamuro said similar presentations were held in Ojuelegba, Lagos State and Wuse, Abuja respectively, where Glo kept its promises by delivering prizes won by lucky customers.
Mamuro further said the event was in fulfillment of the company’s pledge to continuously explore ways to delight its customers and add value to their lives.
He said, “In each of the locations, lucky subscribers who emerged from our transparent draws witnessed by the representatives of the Nigeria Communications Commission (NCC) and National Lottery Regulatory Commission went home with tricycles, industrial sewing machines, grinding mills and power generators.”
While congratulating those who received prizes in Port Harcourt, he said that Glo will continue to spread joy across Nigeria, noting that from Port Harcourt, “we will be going to Ibadan to redeem the prizes to winners who will emerge in today’s (Wednesday) draw.
“From Ibadan, we will move to other locations spread across the country in continuation of the promo. This promo which you all popularly call “My Own Don Beta!” is a demonstration of the power of N200. In this promo, with N200, you can own a tricycle, industrial sewing machine, grinding mill and power generator which are empowerment tools that will enable hundreds of Nigerians to create wealth and become employers of labour,” The Glo Regional Manager stated.
He further said that the gesture was in tandem with the company’s empowerment mantra that “It is better to give somebody a platform to earn a living than giving such a person handout,” adding that lives are being transformed through the promo and encouraged subscribers of the mobile operator to take advantage of the opportunity. Simply recharge with only N200 at once or cumulatively daily and you could be one of the winners of our fantastic prizes. Keep recharging to enhance your chances of winning,” Mamuro said.
In her remark, Head, Port Harcourt Liaison Office of the National Lottery Regulatory Commission (NLRC), Lady Kate Ibekwe, said the promo has the commission’s backing and lauded Glo for being ‘magnanimous to reward its customers with such mouthwatering prizes.
“There are some lotteries that you play yourself. There are others that you don’t even know you are playing. For example, you just recharge your phone and then Glo is being magnanimous to bless their customers with sewing machines, power generators, tricycles, and so on.
“This is one of those involuntary lotteries you have played. My advice is that when you are called on telephone, pick your calls, be patient and listen to the person on the other end. There are offices of these places where you reside. Go there are find out. If it is in the bank, call your account officer, they will be able to tell you,” the Head, Port Harcourt Liaiason Office of NLRC explained.
Lady Ibekwe advised Nigerians playing lottery to look out for the commission’s logo in any lottery in order not to fall into the hands of scammers.
In a chat with the Tide, one of the star prize (Tricycle) winners and 200 level undergraduate of the Niger Delta University, Bayelsa State, Chinedu Okoli says she has been a glo customer for seven years and thanked the company for the reward which she described as unbelievable.
Also, a public servant with the Nigerian Customs Service and three years Glo user expressed happiness, saying, “I thought it was a scam when a lady called me that I won, but thanked God it is real. I will continue to use Glo.”
Dennis Naku
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.
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.
-
Opinion5 days ago
Ozoro Festival: Tradition or Tyranny?
-
News2 days ago
Decentralizing Pipeline Surveillance Poses Greater Dangers To Niger Delta …. Group Warns
-
Politics2 days agoAPC Resumes Electronic Membership Registration Nationwide
-
Rivers2 days agoCourt Rules Out Interim Administration In Jumbo House, Bonny
-
Politics5 days ago
RIVERS WOMEN RALLY SUPPORT, CONTINUOUS PRAYERS FOR TINUBU
-
Politics5 days ago
AKPABIO, DIRI, OBOREVWORI, OTHERS VOW TO REELECT TINUBU …AS GIADOM RETAINS APC ZONAL CHAIR
-
Business2 days ago
33 Banks Raise N4.65tn As Recapitalisation Ends
-
Politics5 days ago
Viral 2027 Nomination Forms Price List Fake, Misleading – APC