Editorial

Banks, Workers’ Salaries And Hidden Charges

Published

12 years ago

November 18, 2013

The activities of some commercial banks
in Nigeria, especially with regard to
charges on workers’ salaries and deductions on soft loans, have become rather unacceptable. In some cases, it has led to illegal reduction of salaries through double taxation.

While public servants are still contesting the prevailing taxation of their salaries, the banks further deplete the miserable pay packet by deducting value added tax and a list of other charges that serve only to raise the blood pressure of the average worker.

Consequently, a greater percentage of public servants have gone back to the banks to obtain soft loans just to meet up. With loans called “Sharp-Sharp”, “No Wahala loan” among others, are accompanied by high interest rate and another regime of deductions that give the impression that nobody monitors the banks.

While the banks apply different sharp practices in a bid to meet their usually bogus annual revenue projections, the victims (their customers) count their losses and come to the painful conclusion that banking is detrimental to their interest.

Banks, at will, deduct account management fees, Cost of Transaction (COT) and Value-Added Tax (VAT) on COT, among other charges at rates solely determined by them and sometimes do this more than once in a month.

Public servants appear to be the worst hit as they often obtain soft loans to enable them pay house rents, school fees, purchase vehicle, or meet other domestic obligations like burials only to realise that they had unwittingly cut a deal with the ‘devil’.

With the progressive drop in the salaries of government workers lately, the many phantom charges by banks have made the average worker even more desperate and disillusioned. This cannot continue to define the fate of the people even if the labour unions fail to respond to the groaning of the workers.

Also disturbing is the purported drop in the nation’s inflation rate to eight per cent and the report that the economy is improving without a corresponding impact on the living condition of the average citizen. It is sad to notice that the banks still charge more than 20 per cent interest on soft loans even as they pay less than two per cent interest on deposits.

Whereas the banks lure civil servants with the Central Bank of Nigeria (CBN’s) approved prime lending rate of 18 per cent, they have been discovered to base their monthly interest deductions on a 23.9 per cent maximum lending rate.

Again, the CBN recently directed banks to stop the N100 per transaction charge on customers for the use of Automated Teller Machines (ATMs), some customers still allege receiving notifications on ATM charges, sometimes even when there were no such purported transactions; some banks now call it ATM maintenance fee.

Some banks now take advantage of the fact that many account holders hardly study the details of their monthly bank statements, or even bother to question the legitimacy of strange deductions. Even those who dare to ask often get frustrated after several calls or visits to the banks without convincing explanations.

The Tide believes that it is high time government took up the matter with the banks to ensure that salaries are not reduced in ways that leave the worker underpaid. In fact, the workers’ union ought to take the first interest in this matter and check the impunity of the banks.

We think that this also calls for more inclusive and robust housing/vehicle loans for public servants, especially as their living standards have been seriously altered by the unexpected deductions in their salaries.

The CBN should do more than merely encouraging short-changed bank customers to channel their complaints to its Consumer Protection Department. In fact, it should act in concert with the National Deposit Insurance Corporation (NDIC), Securities and Exchange Commission (SEC) and the National Assembly Committees on Banking and Finance to bring to an end this fraudulent banking system that discounts the interest of the customer.

Editorial

As NDG Ends Season 2

Published

2 days ago

February 27, 2026

The Tide

On 20 February, the second edition of the Niger Delta Games (NDG) kicked off in Benin City, Edo State, with over 3,000 athletes from the nine oil-producing states of the Niger Delta region competing for honours across 16 sporting disciplines. Tagged ‘NDG Edo 2026’, the Games were scheduled to continue until the 27th (today), when the curtain would finally be drawn on proceedings. The event is sponsored by the Niger Delta Development Commission (NDDC) and organised by consultants Dunamis Icon.

Edo State is taking its turn as host following the maiden edition held in Uyo, Akwa Ibom State, the previous year. The inaugural edition was widely hailed as a resounding success, owing to the remarkable competitiveness and excitement it generated amongst the states of the region and, in particular, the young athletes who showcased impressive talent, prowess, and potential across a range of sporting events.

The maiden edition represented, in many respects, a new horizon and a breath of fresh air in efforts to engage and harness the talents and energies of the region’s youth towards positive endeavours that offer genuine prospects for career development. For a full week, young athletes from across the Niger Delta had the opportunity to compete in an environment where they freely expressed and explored their abilities, mingled with one another, and had the chance to connect socially and culturally.

It is for this reason that the NDDC and their consultants, Dunamis Icon, can be said to have hit the bull’s eye with the concept behind the Games. Beyond serving to engage the youth and identify promising athletes for the region, the competition has the capacity to produce athletes well capable of representing the national flag on international and continental stages.

The NDG presents opportunities that the states of the region must embrace wholeheartedly. Beyond venturing into the hinterlands to scout for promising young athletes, sporting facilities across the various states now have the opportunity to be tested and utilised on an annual basis, whilst host states enjoy the privilege of developing, upgrading, and maintaining existing facilities with the support of the sponsors.

As the Games draw to a close at the end of their second season, it is hoped that this regional sporting festival will continue to be guided by the vision and mission upon which it was founded, particularly its commitment to creating opportunities for untapped talents within the region. It is encouraging to note the organisers’ insistence that only athletes within the stipulated age bracket of 20 years and under are permitted to participate. No effort should be spared in ensuring that age falsification and the desperation to win at any cost are firmly discouraged.

Whilst commending the NDDC and Dunamis Icon for the considerable efforts already invested in ensuring that the NDG is not only successful but sustainable, it is expected that this second edition would mark an improvement upon the last, with the shortcomings witnessed in Uyo not being permitted to recur.

The NDG represents both an opportunity and a challenge to a region that prides itself as one of the country’s foremost nurseries of sporting talents. It is a chance to begin producing world-class athletes once again and to introduce names that will not only remind us of, but ultimately succeed the celebrated stars of previous generations across various disciplines — among them Adokiye Amiesimaka, Daniel Igali, Ojadi Oduche, Obisia Nwamkpa, Chioma Ajunwa, and Jeremiah Okorududu, to name but a few.

Just as the leadership of the NDDC has challenged the NDG to begin producing Olympic athletes for the country, we can only wholeheartedly concur that the Games possesses everything necessary to serve as a platform for unearthing future stars, and nothing less should be expected of it.

It is worth noting that the continued growth and credibility of the NDG will depend, in no small measure, on the rigour and transparency with which it is administered. Governance, accountability, and adherence to the founding principles of the competition must remain non-negotiable priorities for all stakeholders involved, from the sponsors and organisers through to the participating state delegations.

The role of the participating state governments in this regard cannot be overstated. Whilst the NDDC and Dunamis Icon provide the structural framework and financial backing that make the Games possible, it is the states themselves that bear the primary responsibility of identifying, nurturing, and presenting their finest young athletes for competition.

Governors and sports commissioners across the nine participating states must therefore treat the NDG not as a mere ceremonial obligation, but as a serious and strategic investment in the human capital of their respective populations. Only through sustained grassroots scouting programmes, well-funded state sports academies, and consistent domestic competitions can the region hope to maximise the full potential of what the NDG offers.

The private sector, too, has a meaningful role to play in the long-term sustainability of the Niger Delta Games. Whilst the NDDC’s sponsorship provides an essential foundation, the involvement of corporate organisations — particularly those with significant commercial interests in the region — would serve to deepen the financial base of the competition and reduce its vulnerability to the funding uncertainties that have historically plagued sporting initiatives in Nigeria.

Partnerships with brands, media organisations, and international sports bodies could further raise the profile of the Games, attract wider coverage, and open doors for the region’s most gifted athletes to access exposure, training opportunities, and platforms that extend well beyond the Niger Delta itself.

Ultimately, the Niger Delta Games carries with it the hopes and aspirations of an entire region and its young people. If nurtured with care, integrity, and sustained investment, it has every potential to become one of the most significant youth sporting platforms on the continent, and a genuine conveyor belt for the next generation of Nigerian sporting greatness.

Editorial

Beginning A New Dawn At RSNC

Published

2 weeks ago

February 16, 2026

The Tide

The premises of the Rivers State Newspaper Corporation (RSNC), publishers of The Tide Newspaper, are wearing a refreshing new look as work begins on the re-erection of a perimeter fence. This development is more than a physical upgrade. It is a strong statement that the safety and dignity of a historic public institution are once again being taken seriously.

For many years, the corporation operated without a proper perimeter fence. The old fence was demolished about a decade ago during an urban renewal drive under the administration of Chibuike Rotimi Amaechi. The intention at the time was to relocate and properly situate the fence away from pedestrian walk, but the long-term consequences were not fully anticipated.

The absence of a fence exposed the premises to serious risks. Workers reported frequent cases of trespass, theft of office items, and unrestricted movement by unauthorised persons. In an environment where sensitive editorial and production work is carried out, such openness became a major concern rather than an advantage.

Statistics from internal records suggest that incidents of petty theft and vandalism rose sharply during this period, accounting for an estimated 30 per cent increase in maintenance costs over the years. Staff morale also suffered, as many employees felt unsafe working late hours, especially during night production schedules.

The return of the perimeter fence will bring immediate relief. It will provide controlled access to the premises, protect valuable equipment, and ensure that staff can work with peace of mind. Businesses and members of the public who visit the corporation for adverts, publications, and official transactions will also enjoy a more orderly and secure environment.

A secured workplace is known to improve productivity. Studies in public institutions show that improved security can raise staff efficiency by up to 20 per cent. For a newspaper organisation that works against tight deadlines, this improvement is both necessary and timely.

The Rivers State Government deserves commendation for funding this fencing project. The Tide is one of the oldest state-owned newspapers in Nigeria and has, over the decades, projected and promoted government policies, programmes, and public enlightenment campaigns. Such an institution deserves to be properly funded and equipped to perform at its best.

As the fencing work progresses, the government should look beyond this single intervention. There is a strong case for the total renovation of the corporation’s ageing buildings. This effort can build on the visible successes recorded in the ongoing renovation of the state Secretariat Complex, which will improve the working conditions of many civil servants.

Equally urgent is the replacement of obsolete equipment at the newspaper publishing firm. Most of the machines in use today were provided at the inception of the corporation several decades ago. Technology has moved on, but the tools of the trade have largely remained the same.

All the major printing machines and computers are old and can no longer function efficiently. Frequent breakdowns slow production and increase costs. A total replacement is required to return the organisation to the path of progress and competitiveness in a fast-changing media industry.

Attention should also be given to the rotary printing machine purchased during the Amaechi administration. Sadly, the machine never worked for a single day due to the absence of a vital component. Replacing this missing part would put the machine on stream, making it useful not only to the newspaper but also to the wider information needs of the government.

There is also a clear need for operational vehicles, power generating plant, and additional staff. Over the years, the corporation has lost more than 60 per cent of its workforce to retirement, death, and the prolonged freeze on civil service recruitment during the last administration of Chief Nyesom Wike. Without urgent replacement, service delivery will continue to suffer.

The Publication Department, which formerly produced calendars, diaries, and exercise books for schoolchildren, should be revived. In the past, the department generated substantial funds that helped sustain the establishment before it became defunct.

Much credit must go to the Acting General Manager, Stella Gbaraba, for demonstrating capacity and discipline in managing the outfit. A staff member of the state Ministry of Information, she has shown herself to be a quintessential administrator whose leadership has stabilised the corporation. She deserves to be celebrated.

Her performance once again confirms the long-held view that leaders appointed from within the civil service often understand public institutions better and perform more effectively than those brought in from outside. With sustained government support, competent leadership, and the right investments, The Tide can reclaim its pride of place as a strong voice in Rivers State and beyond.

Editorial

Sustaining OBALGA’s Ban On Street Trading

Published

3 weeks ago

February 9, 2026

The Tide

The total ban on all forms of street, roadside trading, and hawking activities in and around the Okoro-Nu-Odo Flyover, along the Rumuodomaya Road leading to the Obio/Akpor Council Secretariat, and within the affected corridors, is yielding desired results. This decisive action has brought about a transformation that many residents had long given up hope of ever witnessing. The change is not merely cosmetic but represents a fundamental shift in how public spaces are being managed in this crucial part of the city.

The prohibition has not only curbed the mess created by the traders, it has restored the beauty of the area. The Chairman of Obio/Akpor Local Government Area, Hon. Dr Gift O. Worlu, deserves commendation for the feat. It takes considerable courage to make unpopular decisions in the interest of the greater good, and this is precisely what the chairman has demonstrated. His willingness to tackle this longstanding problem head-on sets a positive example for other local government leaders across the state.

It is common knowledge that the affected area is one of the gateways into Port Harcourt. On a typical day, to get in or get out of the city posed a terrible situation that left motorists and commuters utterly frustrated. First impressions matter greatly, and this passageway should reflect the status of Port Harcourt as a major city. Instead, what greeted visitors and residents alike was a chaotic scene that did little to inspire confidence in the city’s governance or planning.

How the place got to that level over the years is left for everyone’s imagination. But the local government which is just a stone’s throw from there allowed it to degenerate so badly. We cannot help but wonder what those in authority were thinking as the situation spiralled out of control. The proximity of the council secretariat to the problem area makes the previous neglect all the more baffling and inexcusable.

An outsider coming into Port Harcourt may be wondering what has gone wrong with the place. Sometimes it took several hours to navigate the area whereas ordinarily it should take a shorter time. This is not the image any city should project to visitors, investors or even its own residents. The economic cost of such traffic congestion, not to mention the sheer waste of people’s time and energy, must have been substantial over the years.

It was really an eyesore. So when the council chairman came up with the directive that trading activities should cease while the traders must vacate the place permanently, we think it was a decision taken for the good of all. While some may argue that the traders have a right to earn their living, this right cannot supersede the collective rights of thousands of road users who endured needless suffering daily. The common good must sometimes take precedence over individual interests.

All we ask from the chairman is to ensure that his actions are sustainable. Lack of sustainability and political will are usually the bane of many good policies of government. If this is sustained it will be the first of its kind. History is littered with well-intentioned initiatives that started with fanfare only to fizzle out when the initial enthusiasm waned or when those responsible moved on to other priorities.

As a way to sustain the measures taken so far, those who have been displaced should be relocated so they do not find their way back to the same location. It may not be enough to take them out without providing alternative places for them. A truly comprehensive solution must address both the symptom and the root cause. Simply scattering traders without offering them viable alternatives is a recipe for their eventual return, and the whole exercise would have been in vain.

Arrests and prosecutions that are being effected should continue to serve as deterrent to others. The actions of Obio/Akpor chairman show that the council means business. When people see that there are real consequences for flouting regulations, they are far more likely to comply. This is not about being heavy-handed but about establishing clear boundaries and enforcing them consistently and fairly.

Thankfully, the chairman had reportedly included the Oil Mill Market and the Eleme Junction areas as well. On the whole, the action of the council chairman in sanitising the mentioned areas is simply laudable. Other places of focus where street trading and related issues go on are Rumuola, Rumuolumeni, Choba, Rumuodara, Rumuokwuta, Ozuoba, Rumuosi/Rumuekini, Rumukwurushi, and Artillery/Woji. There should be consistent application of order and safety standards at the above-mentioned areas.

Another place to be sanitised is the Mbiama Market. This is also one area that is terrible particularly on Tuesdays when trading occurs there. It is hard for motorists and commuters to navigate the place. How to get out of that location is usually a problem that turns what should be a straightforward journey into an ordeal. The situation at Mbiama represents another glaring example of how uncontrolled commercial activity can bring an entire area to its knees.

Sadly, the local governments are complicit because they are the ones that would give people the spaces to trade in exchange for money. The Ahoada West Local Government Area chairman where Mbiama is situated should borrow a leaf from his Obio/Akpor counterpart by taking drastic measures to end the trading there or ensure that movements are guaranteed when trading activities go on in the locality. It is hypocritical for councils to profit from these arrangements while turning a blind eye to the chaos they create. Revenue generation should never come at the expense of public order and safety.

There needs to be sanity on these concourses. This will bring a lot of relief to travellers on these roads. It does not speak well of us as it portrays the state as a no-man’s land or unorganised or even a people that lack decency. We are better than this, and our public spaces should reflect our aspirations rather than our failings.

In the long run, a well-coordinated approach involving local governments, security agencies, and urban planners will be required to maintain these gains. Public enlightenment should go hand in hand with enforcement so that residents understand that these measures are not punitive but protective. When order becomes a habit rather than an exception, Port Harcourt and its surrounding communities will be better places to live, work and travel through.

Unwavering commitment from all stakeholders are required. The traders themselves must recognise that operating in designated markets is not a punishment but a more dignified and organised way of conducting business. Residents and road users must support enforcement efforts rather than sympathising with violations out of misplaced sentimentality. The local governments must remain vigilant and resist any temptation to relax standards or make exceptions that could unravel the progress made.