Business
NURTW Calls For Collaboration With Security Agencies
The President, National Union
of Road Transport Workers (NURTW), Alhaji Najeem Yasin, has called for strengthened collaboration between the union and security agencies to fight terrorism.
Yasin made the call in Abuja in an interview with journalist. He observed that the collaboration would also ensure efficiency and safety in transportation sector.
According to him, there is need for understanding between the union and security agencies on possible deployment of security agents to various motor parks across the country to check crimes.
“With the presence of security agents in the parks, there will be a constant security check at the entrance of the parks and it will put confidence in the people.
“We are just a labour union, we are not trained to do security work or search people and it is the responsibility of the security agents who are trained in that aspect to do this.
“What union workers need to do is to be security conscious and vigilant to be able to detect suspicious movements and alert the security agents,’’ Yasin said.
Yasin, nonetheless, stressed the need for the relevant authorities to install security devices in the motor parks to complement the functions of security agents.
He also urged the union members across the country to be sensitive to security matters in their respective motor parks.
Meanwhile, Alhaji Najeem Yasin, has said that the union will focus on reducing maternal mortality in the country through its Emergency Transport Scheme (ETS).
ETS is a scheme under the Maternal and Child Health project of the Subsidy Reinvestment and Empowerment Programme (SURE-P MCH) for reducing maternal newborn mortality.
Yasin, said the scheme was aimed at reducing maternal child mortality through effective referral mechanism during emergencies in rural communities.
According to him, ETS is implemented through the participation of union members who serve as volunteer drivers to transport pregnant women experiencing maternal complications to healthcare facilities for quick medical attention.
He said since 2004, the union had been collaborating with development partners to implement ETS in northern parts of the country.
Nyasin said during the period, ETS drivers conveyed thousands of pregnant women in various emergency situations to health facilities freely or on payment of the cost of fuel.
“With this scheme, accessibility to health will be brought to the doorsteps of all pregnant women in the targeted areas.
“The need for ETS cannot be over-emphasised taking cognisance of the critical situation of many pregnant women, especially in the remote areas of the country.
“Such pregnant women die from preventable deaths not because of lack of doctors or equipment but due to delays in reaching heath facilities,” he said.
He said the move by National Primary Health Care Development Agency (NPHCDA) by providing financial support to NURTW to implement ETS would go a long way in bringing smiles to pregnant women and their families.
Union boss said the project would ensure that “no lives can be lost in the process of giving birth to our children.
“This will also greatly contribute towards attaining MDGs 4 and 5 which are reduction of maternal mortality and improvement in the health of children respectively.”
The Tide reports that the union on April 3 signed a Memorandum of Understanding (MoU) with the NPHCDA for implementation of ETS.
The MoU was signed to carry out a six-month pilot ETS at selected SURE-P MCH facilities.
He said the facilities were in the FCT, Niger, Bauchi, Kaduna, Zamfara, Anambra, Ebonyi, Bayelsa and Imo states.
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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