Business
Killer-Phone Number: Matters Arising
In recent times, the advent of Information technology in the country has rather been used to circulate rumours instead of the promotion of education and the likes.
Sometime, one begins to wonder what those in the information industry in the country are doing and even their effort to curb these menace.
Even among respective villages/ communities, there are always ways of getting to the root of some rumours, especially the case of accusation like witchcraft and murders. The leaders will summon each and every one and agree on a particular measure to adapt in order to find out the truth.
At times, they go as far as consulting deity (depending on their believe system) to enable them know the culprit. They also do some local investigations among other things.
But in Nigeria, it is a different ball game. Her leaders forget in a hurry the particular issue (rumour) that caused panic among its citizens,once it dies down. No one cares to find out the facts in the rumour.
I know that there is this saying that “in any rumour, there is an atom of truth”. But the Federal Government, Nigeria Communication Commission (NCC) and other agencies in Information/Communication business in the country never considered that old saying.
The issue of killer beans was treated carelessly without the leaders setting up committees to find out the true position of the rumour.
No long ago, the rumour of Acid rain threw many in heavy panic, some nearly committed suicide than to allow the rumoured acidic rain touch them. So many things happened then.
Also the recent rumour of the killer number (09141) on Wednesday September 14, 2011. the situation caused no little stir among members of the public.
Many people sent swift text messages across to their loved ones, charging them sternly not to answer or reply any call from a five digit number, especially 09141. in fact, all network providers in the country raked in more money in their coffers due to the repeated calls and text messages, warning against any five digit number. There was even rumour that between seven to 10 persons have been reported dead.
The Federal Government was swift to react that day through NCC’s spokesman, Reuben Mouka, who said that it is “unimaginable that somebody will die while receiving a call”, and that phone call can not kill. He even stressed that only very gullible people that would believe such rumour.
Many applauded the moves. But it is beyond issuing a statement from his air conditioned office in Abuja. It calls for an immediate setting up of committee with the sole task of getting to the root of the matter.
There are several agencies whose duties revolve around communication/information and also security operatives who could have been drafted into groups to visit those states to find out the actual fact concerning the rumoured death of some Nigerians.
Nothing stops them from making few arrests in connection with the rumour, but as usual, “nothing will happen”. The killer phone number rumour was hot to the extend that some network providers advised their subscribers who called to know the true position of things not to answer any call from five digit number to be at the safer side.
Cases like this demand strong Federal action to dig deep into it, in order to prevent future occurrence. Until such investigations are made, one cannot rule out public reaction about a particular outbreak or development.
No wonder the Bible said in (Psalms 11 verse 3) if the foundations be destroyed, what can the righteous do? KJV. If the activities of NCC as the major manager of the country’s information/communication is under-reported what can other agencies do?
The NCC ought to be a vibrant commission with trained foot soldiers that are ready to browse even the creeks and mangroves in pursuit of details about some rumours. Those who are ready to stake their necks in an attempt to unveil or track down those behind the act.
If rumours of whatever nature is being peddled, the NCC and others should see it as a matter of importance, and carry out a well informed public enlightenment campaign, to drive home their claims. The issuing of a statement about the alleged five digit killer phone number is not out of place, but concerned authorities should learn how to add colour to issues, as well as back it with facts.
Some Nigerians, like the Etisalat Head, regional Sales, South South/South East, Mr. Enekwachi Aja, who reacted promptly, described the rumour as a pure lie. Mr. Aja, was swift to hint that 09141, represented September 14, 2011.
At this point, many who read The Tide Newspaper on Friday, September 16, 2011 got relieved. He said that some lazy people were only trying to make themselves popular by spreading the rumour.
The Etisalat bigwig, blamed part of the ugly incident on poor educational background of some members of the public, adding that death cannot come through phone calls.
Now that the country is always faced with diverse kinds of rumours, it will not be ambiguous for the NCC and those who are saddled with information/communication control/management to tighten its grip on all network providers in the country for proper scrutiny.
Whether acidic rain, killer beans or phone number, let there be a deliberate attempt by the concerned authorities to unmask those behind the act. They should also see the actions of the unseen hands as sabotage and should urgently adopt a radical approach that will permanently prevent future occurrence, if the business of information/ communication management of the country means any thing to them.
A word, they say, is enough for the wise, even as a stitch in time, saves nine.
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Banks Must Back Innovation, Not Just Big Corporates — Edun
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
Business
FG Seeks Fresh $1b World Bank loan To Boost Jobs, Investment
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.
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