Business
NEMA RE-Affirms Commitment To Disaster Management
The National Emergency Management Agency (NEMA) was established 10 years ago to help disaster emergency management, response and provision of disaster assistance to victims.
But 10 years after, many Nigerians have not figured out the functions of NEMA due to ignorance.
Speaking to a group of journalists recently in an interactive session, the zonal coordinator of NEMA, south-south, Umesi Emenike said the Agency is coming to the centre stage by coordinating, sensitizing, educating and enlightening people by collaborating with other agencies, organisations, in respect to disaster cases.
Emenike noted that the Agency is poised to alleviate the pain and agony of victims of disaster not just from the area of providing relief measures but by assisting during emergency and providing solutions against disaster.
The rural coordinator revealed that earlier in the year, the Agency had warned that there would be flooding in most part of the country and warned that drainage facilities be cleared, but that warning was not adhered to which subsequently caused flooding in most of the states, including Rivers State.
He said the Agency has been working with humanitarian organisations and volunteers to form a kind of synergy that will help adhere government policy in the country.
Emenike who also dived into the recent amnesty granted by the militants, said NEMA may consider taking steps by looking into the plights of communities that were affected by militant activities in the Niger Delta region with a view to rehabilitating them.
He commended the federal government for the amnesty granted to the militants but pleaded that the communities affected during the crisis should be rehabilitated.
He blamed the public for not reporting disasters to the agency promptly pointing that, the act of not informing NEMA was always responsible why the Agency don’t respond to emergency timely.
Emenike urged that the Agency is fully funded and has all type of equipment in ease of rescue or emergency period.
According to him, During disaster or emergency period, NEMA has the statutory power to order any company to move its equipments to the disaster area immediately. “This is because we collaborate with all the Agencies and organisations in the country he added.
He noted that if crisis or accidents is re ported in time, NEMA is always up in meeting up the task.
The zonal coordinator disclosed that the Agency has commence training of new volunteers in Edo, Bayelsa, Delta, Cross River, Akwa Ibom and Rivers State on ways to manage emergency, response to crisis and general road safety. The training also comprises how to rescue people and victims from vehicle, in road accident.
He however announced that the zonal headquarter in Port Harcourt, the Rivers State capital will organise a summit for emergency management, simulation exercise at the airport, and other measures, towards saving lives and disasters from occurring.
Emenike further advised Nigerians to always ensure timely report of emergency and disaster related cases to enable them effectively respond to them.
Timely reports of emergency cases to appropriate authorities shall in no small measure enhance the performance of the relevant agencies in managing emergency cases he emphasised.
The NEMA boss recalled that the Agency which was established 10 years ago has succeeded in positioning itself well in some concept through the collaboration with relevant organisations and volunteer groups within and outside the country.
As the ember months set in, the Agency said it always organise workshop and public lectures allowing the Federal Road Safety Commission (FRSC) to do the talking, sensitizing, educating the drivers and other road users of the need to be extremely careful while on the road.
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.
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