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FG Disburses N2trn To Mitigate Covid-19 Impact

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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.

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Bikers, Others Grace Burial Of Rivers Philanthropist

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Bikers were among prominent dignitaries who recently attended the burial ceremony of late Mrs. Nimi Obata Grant Offor (née Lawson) in Omagwa Community in Ikwerre Local Government Area of Rivers State.
The burial service, held at the St. Martin’s Anglican Church field, attracted a large turnout of religious leaders, business executives, political figures, celebrities, bikers’ groups, traditional rulers and community members from different parts of Nigeria. Also present were the Bishop of the Anglican Province of the Niger Delta, Most Rev. Blessing Enyindah, and popular businessman and socialite, Obi Cubana, among other notable personalities.
The remains of Mrs Grant Offor, a respected professional, philanthropist and devout Christian, were laid to rest amid an elaborate and well-coordinated funeral ceremony that reflected her wide-reaching influence and the high regard in which she was held by family, associates and the larger community.
The ceremony drew public attention due to its unique logistics, as two helicopters were deployed. An air ambulance helicopter conveyed the casket to the church field, while another helicopter transported members of the deceased’s family from Abonnema to Omagwa Community.
Dignitaries and mourners gathered in large numbers to pay their final respects.
In an emotional tribute, High Chief Engr. Grant Offor, described his late wife as everything to him, stating that her passing had created a deep void in his life and in the lives of their children. He disclosed that he committed his time, resources and efforts in a bid to save her life, adding that if money or human effort alone could prevent death, she would still be alive.
Mrs. Nimi Obata Grant Offor was born on May 4, 1978, at the Ibiso Maternity Clinic, Port Harcourt, and passed away on November 15, 2025, after a prolonged illness that lasted nearly three years. She was born a twin and grew up in a family noted for service and leadership. Her father, the late Engr. Benoni Lawson, served as Managing Director of the Niger Delta Basin Development Authority (NDBDA), while her mother, Mrs. Irene Lawson, is a nurse.
She attended Port Harcourt Primary School and International Secondary School (ISS) before proceeding to the University of Science and Technology (UST), Port Harcourt, and later the University of Port Harcourt, Choba, where she studied Accountancy and graduated with honours. She was widely known during her academic years for her discipline, focus and reserved lifestyle.
After completing her National Youth Service Corps (NYSC) programme, Mrs. Grant Offor began her professional career in the banking sector, including service with the defunct All States Trust Bank, and later worked in other professional capacities. She earned a reputation for integrity, diligence and ethical conduct.
She was married to Engr. Grant Offor for over 20 years, a union blessed with three children. As a wife and mother, she was described as deeply devoted to her family, instilling values of faith, patience, kindness and discipline. Her home was known among close associates as one built on prayer, love and godly counsel.
A committed Christian, Mrs. Grant Offor was known for her strong faith and love for gospel music, particularly songs of healing and deliverance. Even while receiving specialist medical care in the United Kingdom, she reportedly remained steadfast in her belief, trusting in God until her final moments.

Adding to the show of solidarity, the President of the Rivers State Chapter of the Pantas Female Bikers Group, Mr. White Timano, disclosed that High Chief Engr. Grant Offor is a major sponsor of Uyo Micah’s Carnival, one of the group’s major events. He said bikers and supporters travelled from Rivers, Akwa Ibom, Bayelsa and Delta States to commiserate with the family and show support during the period of mourning.

Mr. Timano described death as inevitable and encouraged the family to remain strong, stressing that only God grants the grace required to endure such painful loss.

The church field was tastefully decorated, creating a solemn and dignified atmosphere. The burial ceremony featured hymns, live music, scriptural exhortations, eulogies and tributes celebrating the life and legacy of Mrs. Nimi Obata Grant Offor. Messages from notable personalities highlighted her contributions to family life, philanthropy, professional service and community development.

On behalf of the family, High Chief Engr. Grant Offor expressed appreciation to all who stood by them throughout the period of mourning, thanking guests for their prayers, presence and support.

The burial ceremony stood as a testament to the enduring legacy of Mrs. Nimi Obata Grant Offor, whose life of service, faith and quiet generosity left a lasting impact on many across Rivers State, the Niger Delta and beyond.

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Security Guard Missing After Fence Demolition In PH

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Asecurity guard has been reported missing following the demolition of a fence at a property located at No. 19D, Golf Course Layout, Old Government Residential Area (GRA), Port Harcourt, Rivers State.
The incident reportedly occurred late Sunday night at the disputed property said to be owned by Ozone Global.
Eyewitnesses revealed that a group of men, some of whom were dressed in what appeared to be naval uniforms, arrived at the premises on motorcycles and allegedly pulled down the fence surrounding the property.
During the incident, a security guard on duty, identified simply as Abubakar, was allegedly taken away by the group to an unknown destination.
A relative of the missing guard, Musa, said efforts to get immediate help, including alerting a nearby police point, proved abortive as the incident had already occurred before any intervention could be made.
“I escaped because I noticed them early, but my brother was taken away. Up till now, we don’t know where he is or how he is doing. We are appealing to the authorities to help locate him,” Musa said.
Meanwhile, one of the intermediaries involved in the land transaction, Mr. Chimezie Bright, alleged that the incident may be connected to an ongoing land dispute over the property.
Bright claimed that the land was purchased by Ozone Global from one late Mr Felix Orie and that documents from the Rivers State Ministry of Lands and Housing indicate that the land was allocated to Mr Orie.
He further alleged that another claimant to the land, Mr. Mac Oruche, had allegedly challenged the ownership and opposed development on the property, despite the matter being the subject of a court case.
According to Bright, tensions over the property had previously resulted in disagreements during attempts to fence the land.
“We carried out due diligence before the purchase, including verification at the Ministry of Lands. However, the dispute has persisted,” he said.
Bright expressed concern over the alleged involvement of uniformed personnel in a civil land dispute and called for a thorough investigation into the incident, particularly the whereabouts of the missing security guard.
As at the time of filing this report, Abubakar’s location had remained unknown.
Efforts to reach Mr. Mac Oruche for his reaction were unsuccessful, while the police are yet to issue an official statement on the incident.

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OIU Protests Arrest Of Witnesses In Okon Aku Crisis Probe

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The apex socio-cultural and development association of the ancient Ohafia Kingdom, the Ohafia Improvement Union Incorporated (OIU) has formally petitioned the Inspector General of Police (IGP), Kayode Egbetokun, expressing grave concern over the arrests of several individuals from the Okon Aku community who were cooperating with a state-constituted Panel of Inquiry investigating the recent communal crisis in the community located in Ohafia Local Government Area of Abia State.
The union also called for the immediate release of those arrested.
In a letter dated February 6, 2026, and received at the Nigeria Police Force Headquarters in Abuja, the union described the arrests as troubling and procedurally irregular, noting that the affected individuals had either testified or were preparing to testify before the government-sanctioned panel.
Those reportedly arrested include Udo Ukoha of Ndi Envoke; Okereke John, Udonsi Obin, Eteo Ayo, Idika I. Kalu, and John Ukwakwe of Ndi Owom; and Ukpabi Uche Idika of Ndi Ebin.
While emphasizing that it does not seek to prejudge the legal culpability of any individual, the OIU stressed that the timing, context, and manner of the arrests could undermine the credibility, independence, and integrity of the Panel of Inquiry.
“The arrest of individuals cooperating with an official inquiry poses a serious threat to the fact-finding process, creates fear among potential witnesses, and may discourage public participation,” the union stated, warning that such actions could obstruct efforts to uncover the root causes of the crisis.
The union further noted that panels of inquiry rely heavily on voluntary and truthful cooperation, and any action that instills fear in contributors risks eroding public confidence in the justice system, violating principles of fairness, transparency, and natural justice.
Consequently, the OIU urged the Office of the IGP to immediately review the circumstances surrounding the arrests, suspend any further actions perceived as targeting witnesses, and issue clear directives to guarantee the safety and freedom of all individuals participating in the inquiry.
The President General of Ohafia Improvement Union, Chief Prince Kalu Ikpemini, signed the petition, which was also copied to the Executive Governor of Abia State and the Commissioner of Police, Abia State Command, Umuahia.
The union reiterated that the Ohafia community desires lasting peace and reconciliation, which can only be achieved through a transparent, fair, and uncoerced investigation into the Okon Aku crisis.
The Okon Aku communal crisis erupted in early January 2026, prompting the Office of the Deputy Governor of Abia State to immediately establish the Panel of Inquiry to determine both the immediate and underlying causes of the conflict, with the aim of preventing future occurrences.
It is against this backdrop that the Ohafia Improvement Union has raised an alarm over the arrests, calling for the immediate release of those detained and emphasizing the need to protect witnesses rather than intimidate them.

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