Business
Immigration Expresses Worries Over 16,863 Abandoned Passports In Lagos
The Passport Command of the Immigration Service, Ikoyi, Lagos has expressed worries over 16,863 abandoned passports in its office. The command decried the refusal of the applicants to collect their passports after waisting their money and time to procure the travelling documents.
The Deputy comptroller in charge of the command, Deputy Comptroller A.I Liman, made this known in an exclusive interview with The Tide in Lagos on Wednesday.
The officer, who assumed duty barely three weeks ago at the Ikoyi command, said as at Monday, over 7,000 bulk messages had been sent to applicants to come forward for collection of their passports.
On challenges facing the command, he said, “Most worrisome is the frustrations given the service and applicants by the NIMC. A passport that is supposed to be produced in less than three days may likely take three weeks or more as a result of minor error that can be corrected by NIMC , giving the service a tough time in the course of service delivery.
Liman promised that the command under his watch would discharge its duty as enshrined in the oath of office.
“In doing this, I will not ascribe to myself monopoly of knowledge as good suggestions will be welcomed from within and outside the service. Iam not averse to constructive criticism”, he said.
He also promised to operate an open door policy with stakeholders, most especially the media, in furtherance to information sharing and dissemination as part of the service contributions to the nation.
He called for stronger partnership with the media, saying the media has what it takes to educate the public on issuance of passports.
“Finally, I call on all officers and men of the command to toe the path of professionalism and rededicate ourselves to the services that we all swore to discharge.
By: Nkpemenyie Mcdominic, Lagos
Business
Private sector gets N2.2tr credit in 30 days — CBN
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
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NDDC Intensifies Women Empowerment Initiative Across Niger Delta
