Business
CBN Restores Licences Of 37 Microfinance Banks
The National Association of Microfinance Banks (NAMB) said on Monday that the Central Bank of Nigeria (CBN) had restored the licences of 37 of the 244 microfinance banks which licences were revoked recently.
Matthias Umeh, President of NAMB, told the News newsmen that the licences of the 37 banks were restored because they were mistakenly revoked.
Our correspondent reports that the CBN had on Sept. 24 revoked the licences of 224 microfinance banks for not meeting individual deadlines to correct the lapses observed in their operations.
Umeh said that more of the banks might be reopened because the CBN was looking into their petitions.
“CBN is checking the appeal letters from some of the banks and treating them on merit.
“Besides, NAMB has appealed to CBN to take a closer look at the records of the affected banks and restore the licences that ought not to have been revoked,” Umeh said.
He disagreed with a suggestion by some financial experts that a separate body be set up by the government to handle microfinance banking.
Umeh said that such a body was not necessary, adding that the CBN had not failed in the exercise of its control over microfinance banks.
“Unless the CBN deems it fit to relinquish such a role to another body like in the case of the National Board for Community Banks (NBCB), I do not see what is wrong with the present arrangement,” he said.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
-
Opinion1 day agoFubara’s Strategic Masterstroke
-
Sports1 day agoOML 58 Football Tournament Kicks Off
-
Nation1 day agoTinubu Committed To Environmental Sustainability, Benefits To Ogoni–Minister
-
Education1 day agoOpobo students honours Fmr LGA boss for education development
-
Business1 day agoFEC Approves Concession Of Port Harcourt lnt’l Airport
-
News1 day agoNCSU Set To Hold 113th Anniversary, SEC Meeting In PH
-
Maritime1 day agoJustice At Sea: NIMASA Partners Judiciary To Chart New Course For Blue Economy Growth
-
Sports1 day ago
Pillar Of Associations Tournament To Welcome Sponsors
