Nation
FG Disburses N2trn To Mitigate Covid-19 Impact
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, yesterday, disclosed that the synchronized efforts by the monetary and fiscal authorities to mitigate the impact of the Covid-19 pandemic have led to the disbursement of N2trillion as of January this year.
Emefiele made the disclosure at the end of the first Monetary Policy Committee meeting of this year.
He revealed that N192.64billion has been disbursed to 426,016 beneficiaries of the Covid-19 Targeted Credit Facility (TCF) meant for household and small businesses.
“We have also disbursed N106.96billion to 27,956 beneficiaries under the Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS), while in the Health Care Support Intervention Facility, we have disbursed N72.96billion to 73 project that comprise 26 pharmaceutical projects and 47 hospitals and Health Care Services Project in the country.
“To support the provision of employment opportunities for the Nigerian youth, the Central Bank of Nigeria also provided financial support through the Creative Industry Financing Initiative and Nigerian Youth Investment Fund amounting to N3.12billion with 320 beneficiaries and N268million with 395 beneficiaries, respectively.
“On enhancing power supply, the Bank has so far, provided N18.58billion for the procurement of 347,853 electricity reading meters to Discos in support of the National Mass Metering Programme”, the CBN governor revealed.
Emefiele noted that, under the Anchor Borrowers Programme (ABP), N554.63billion had been disbursed to 2,849,490 beneficiaries since the inception of the programme, of which N61.02billion was allocated to 359,370 dry season farmers.
The committee urged the Bank to sustain its current drive to improve access to credit to the private sector while exploring other complementary initiatives, in collaboration with the Federal Government, to improve funding to critical sectors of the economy.
On the external reserves position, the committee noted the increase in the level of external reserves, which stood at $36.23billion as at January 21, 2021 compared with $34.94billion at the end of November, 2020.
This reflected improvements in crude oil prices, partial global economic recovery amid optimism over the discovery and distributions of Covid-19 vaccines by most developed economies.
On efforts to stabilise food prices, Emefiele said that the bank has detected the unhealthy activities of private commodities exchange, a development that necessitates the repositioning of the Nigeria commodity exchange.
“We have written to the President and luckily, we have received the approval to restructure and reposition the Nigeria commodity exchange. It will operate like standard commodity exchanges that you can find in any part of the world which includes stabilizing of food prices generally. We will be coming up with the agenda and framework for the restructuring and repositioning of the Nigeria commodity exchange and we will do so in a manner that prices must be stable in Nigeria.
“We will not allow some self-seeking private exchange commodity to be holding agriculture products and be creating problems for prices because price stability is the core mandate of CBN and we cannot shy away from the responsibility, luckily the CBN own 60 per cent of Nigeria commodity exchange and we take control of it and will run it the way commodity exchanges are supposed to be run in any part of the world. That is one way that we would want to stabilize food prices in Nigeria”.
During the period under review, money market rates remained low, reflecting the prevailing liquidity conditions in the banking system.
Overall, the monthly weighted average Open Buy Back (OBB) rates declined further from the 1.13 per cent in November, 2020 to 1.09 per cent in December, 2020.
On the equities market, the committee noted the positive performance, particularly the sustained patronage by domestic investors largely driven by the prevailing low yields in the money market.
The All-Share Index (ASI) increased by 1.82 per cent to 41,001.99 points as at January 22, 2021 from 40,270.72 points on December 31, 2020.
Similarly, Market Capitalization (MC) grew by 1.80 per cent to N21.44trillion from N21.06trillion over the same period.
This improved performance was largely attributed to gains recorded in medium and large capitalized companies, notably in consumer goods, banking, insurance and oil and gas sectors.
The Monetary Policy Committee (MPC), however, noted the marginal increase in the Non-Performing Loans (NPLs) ratio which rose to 6.01 per cent at end-December, 2020 from 5.88 per cent at end-November, 2020 and above the prudential maximum threshold of 5.0 per cent.
While noting that this development is not unexpected under the prevailing circumstances, it urged the Bank to strengthen its macroprudential framework to bring NPLs below the prescribed benchmark.
The Arewa /Northern Community in Rivers state has appointed Alhaji Shuaibu Wada Madawakin Tilda as the Acting Dan Buran Rivers State.
The appointment is subject to confirmation by the Cabinet Council.
The appointment follows the dethronement of the former occupant,
Alhaji Musa Saeedu.
A statement from the Palace of the Sarkin Arewa/Northern Community (Sarkin Hausawan) in Rivers State and signed by His Royal Highness, Alhaji Hussaini Isah said the dethronement is with immediate effect.
The statement further disclosed that the decision follows an allegation of acts of insubordination and conduct considered contrary to the values, discipline, and traditions of the Northern community perpetuated by the Fmr Dan Buran.
The statement advised the public to discontinue to recognising and addressing Alhaji Musa Saeedu as the Dan Buran of the State, adding that he no longer holds the title and remained suspended.
Responding via telephone interview, Alhaji Musa Saeedu said he will not make any comment regarding the matter.
The Alliance Française of Port Harcourt opened its doors to more than sixty French language teachers from Port Harcourt and across Rivers State at the weekend for an afternoon dedicated to celebration, creativity, and community spirit.
The event which was Supported by the Embassy of France in Nigeria, forms part of the global celebrations marking the Journée Internationale du Professeur de Français (French Teachers Day) a day officially set aside to observe worldwide every 20 November.
The Tide Entertainment reports that every year, French teachers around the globe are honoured for the passion and dedication they bring into their classrooms.In 2025, the theme chosen “Chanter, jouer, enseigner: la francophonie en musique” (Sing, Play, Teach: Francophonie in Music) invited the entire community to explore the joy of teaching through song, performance, and artistic expression.
A Day that brings teachers together for the French teaching community in Port Harcourt, this celebration is much more than a ceremony, it is a rare moment to step away from the classroom and reconnect with the simple joy of sharing, learning, and creating together.
The Alliance Française transformed the occasion into a space buzzing with music and entertainment. Teachers from primary schools, secondary schools, universities, and adult learning centers gathered to exchange ideas, reconnected with colleagues, and discover each other’s talents in an atmosphere filled with warmth and friendship.
Honouring Creativity with the theme “Our Teachers Have Talent!”This year, the Embassy of France launched a national contest titled “Nos profs ont du talent!” (“Our Teachers Have Talent !”), participants were invited to either interpret or create a Francophone song.For a month, from 13 October to 13 November 2025, teachers from across the country submitted their performances online, filling the digital space with francophone music.While winners of this nationwide competition were announced.
According to the the Director, Mrs Marina Lacal, Alliance Française Port Harcourt, excitement and anticipation were added to the celebrations, saying that in Port Harcourt, the festivities went even further. Port Harcourt experienced a Unique Celebration that went beyond the online competition, Alliance Française Port Harcourt created something special, an event where teachers met physically, shared moment of joy, and present their musical talents live.On stage, teachers sang the songs they love and those they have created, showcasing the creativity that animates their classrooms every day.
She explained that that off stage, they( participants )shared stories, network with colleagues, laughed together, and celebrated their unique contribution to the promotion of the French language in Rivers State.This gathering is also a moment of recognition. Every day, French teachers open doors for thousands of learners, children discovering their first French words, teenagers preparing for exams, university students shaping their future careers, and adults embracing new opportunities.
“Today, the spotlight shines on them. More Than an Event, A Tribute to Their Dedication The 2025 celebration in Port Harcourt was a heartfelt tribute to the teachers who make French come alive, those who inspire, guide, and encourage learners with unwavering commitment,” Mrs. Lacal said
The Director explained that It recognises their resilience, their creativity, and their essential role in building bridges between cultures.By offering them a moment of relaxation, fun, artistic expression, and professional networking, Alliance Française Port Harcourt reaffirms its mission to support educators, strengthen the teaching community, and celebrate the vibrant energy of the Francophonie in Nigeria.
Climax of the exciting event was the presentation of prizes to winners of the competition.
The Chairman Advisory Committee on Entertainment and Performing Arts, Khana Local Government Area, Hon. Lexy M. Mueka has expressed gratitude to the Chairman of Khana Local Government Area Dr. Thomas Bariere for his support and vision in promoting entertainment as a tool for peacebuilding and youth engagement.
Hon Mueka made this known to the Tide Entertainment during a recently concluded concert tagged “OGONI ARISE CONCERT” held at the No. 6 Field, Old Port Harcourt Township.
According to him, the concert was not just an event but a movement aimed at reawakening the cultural consciousness of the Ogoni people and inspiring the younger generation to use their talents positively.
The Tide Entertainment reports that the event, organized by Triple 3 Entertainment under the auspices of the office of the Chairman Advisory committee on Entertainment and Performing Arts to the Chairman of Khana Local Government Area, was a vibrant celebration of peace, unity, and cultural renaissance among the Ogoni people.
“Conceptualized as a platform to promote social harmony, empower young creatives, and showcase the rich artistic heritage of Ogoniland, the Ogoni Arise Concert succeeded in bringing together community leaders, entertainers, and the general public in a rare show of solidarity. The event featured electrifying performances by indigenous and regional artistes, dance troupes, comedians, and cultural ambassadors, all united under one message — Ogoni is rising again,” Hon. Mueka said.
“The Ogoni Arise Concert was designed to remind us of who we are — a people of strength, creativity, and unity. We wanted to show that entertainment can be a bridge for peace, a voice for our youth, and a celebration of our identity,” he added.
The event also featured a special Award Presentation Ceremony recognizing distinguished Ogoni sons and daughters who have made remarkable contributions in areas such as leadership, humanitarian service, creative excellence, and cultural promotion. The awards added a touch of prestige and purpose, reinforcing the concert’s theme of celebrating excellence while inspiring future generations.
Security at the event venue was top-notch, turnout of attendance impressive, and the atmosphere electric throughout the night.
Meanwhile, guests and participants had described the event as “historic, well-organized, and truly uplifting.”
