Business
Of Insecurity And Economic Dev In Etche
Etche Local Government
Area of Rivers State is regarded as the food basket of the state.
This elevated status accorded the area is mainly due to its rich agricultural potentials-large expanse of fertile land suitable for the cultivation of various crops, energetic farmers, big markets, attracting traders from all parts of the state and neighbouring states, atmosphere of peace and love from the people known to be one of the most hospitable in the oil-rice Rivers State.
In a bid to enhance these enviable potentials, various administrations in the state sited agric projects in Etche land. The School-to-Land project, Risonpalm plantations, Delta Rubber Company and not excluding the avowed interest of the present administration led by Governor Rotimi Amaechi in developing farms across many clans in the area in partnership with an Israeli agro-allied company, are few examples.
Unfortunately however, insecurity in the area is dangerously upturning these socio-economic fortunes of the people as armed youths allegedly empowered by politicians are robbing and attacking innocent farmers, traders and investors.
Only recently, armed youths struck at Eketa market located at Igbodo, the traditional headquarters of Etche land. They scared away innocent traders and disposed some of their money, valuables and injured so many.
An Aba-based trader who is a regular articles seller in the market was disposed of his N480,000.00 with his wares also stolen.
An eye witness told The Tide correspondent that a lot of people lost their money and goods when the gun-totting youths struck.
“I have been patronizing the market for more than 25 years and I have never seen a thing like that, a trader who identified himself as Egeonu Mathew narrated adding that his colleague did not only lose all his sales for the day but had a broken head while running to save his life.
“So many people were also seriously injured by the heartless armed youths who took over the market for over 45 minutes,” he stated.
At Mba Market, over eighteen (18) armed youths also besieged the market in the similar manner as that of Eketa. The Tide gathered that poor traders were scared off when the robbers struck.
“It had never happened before. They came on motorcycles and shot severally into the air and as people ran for safety, they stole most of their goods and those they caught, were disposed of all the money on them,” said a trader who was her self a victim of the dangerous drama.
The fish-seller who identified herself as Charity Nwankwoala said, “the robbers stole some motorcycles belonging to traders and many people were wounded while many lost their money to the gang of young robbers.
Apart from operating in markets, the robbers who many see as political thugs also ambush traders on their way to the local markets. Many a times the traders have been robbed of the money with which to buy their stocks.
One of the victims, Mary Akpan told The Tide that they were robbed on a Monday morning, on their way to Obite market.
“The robbers numbering about twelve (12) intercepted our vehicles at Egwi/Nihi junction and robbed all of us in the vehicle. We were confused whether to proceed to the market or get back to Port Harcourt because we had no money to buy things. It was when we phoned some of our customers who promised to sell to us on credit (deferred payment) that we decided to proceed”, Akpan narrated.
“This is not my first experience. The operations of the robbers had forced some of our colleagues to stop coming to Etche markets for the fear of either losing their lives or valuebles to the heartless robbers”, she continued alleging that there was attempt to rape some of the ladies in one of such raids.
Investigations carried out by The Tide showed that vigilante groups providing security to some communities in Etche land have devised means of checking operations of the robbers.
The vigilante groups now escort vehicles carrying the traders to their various communities to ward off the incursions of the armed robbers.
A youngman who is one of the vigilante members confirmed the development. “We arrive early at Egwi Etche and wait for the traders and accompany them to our market every market days, said the man.
On regular basis, traders travelling to Aba in Abia State from Etche are robbed either on their way going or returning.
A transporter who plies Ulakwo/Odogwa/ Owasa road narrated his ordeals to The Tide. The driver who gave his name as Chimuanya Amakalam said, “on more than three occasions, I had been robbed with my passengers who are mainly provision store dealers. Each time the robbers subjected us to serious beating and disposed us of every thing on us.”
The driver said, “the road which is one of the easiest routes to Aba has become a traveler’s nightmare. Good number of the drivers who ply the route have since changed route, he said.
Another respondent, Chief Ebere Njoku, said he has decided to close his provision store business because, “it is either you are robbed on your way to the market or the robbers come to your store mainly in the day time to remove your money and take whatever things they wish to, from your store. So, when I discovered that I was no longer in any reasonable business, I closed down and relocated to Oyigbo where I am at present”.
The Okehi/Eberi Road which had separated the people of Etche local government from Omuma local Government was celebrated when some years ago, the government constructed the road and built a link bridge joining the two local government areas. However, the road later turned to be a death trap to those plying it because robbers operate on the route daily.
The situation became so worrisome that Etche ethnic Practising Journalists Association met with the Caretaker Committee Chairman of Omuma Local Government Area, Chief Emeka Nwogu and complained of the ugly experiences of people plying the route. The council boss who confirmed the situation disclosed that he was discussing with his counterparts in Etche Local Government Area on the possibility of establishing a police post at the bridge for better security on the road. So far, the police post is yet to be established.
The fear of deadly armed youths who daily kill and maim innocent indigenes of the area has become everybody’s concern. Farmers, fishermen, traders and innocent travelers have one ugly story or the other to tell about Etche land today. Some women had been reported raped at various parts of Etche by these robbers.
The police and other security agents in the area, are working hard and doing their best to provide better security but the situation remains dangerous for socio-economic life of the people.
Investigation revealed that a good number of Etche sons and daughters avoided going home during the past Christmas and New Year celebrations because of the insecurity in the area.
Even Okada ridders in the area operate with fear because the robbers daily snatch their motorbikes from them including their money.
Certainly, the situation would affect negatively the availability of adequate food supply more as the fear in the land would also affect farming operations which has just started, unless some serious security steps are taken to check the excesses of the armed youths.
Unconfirmed report indicates that some of the robbers come in from the neighbouring local government areas and even states to operate freely in Etche land.
There is need for the chiefs and Traditional rulers in Etche to step up collaboration with security agents in the areas to contain the problem, since majority of these youths themselves are from Etche communities.
The churches, women groups and opinion leaders in Etche also have serous roles to play in any serious effort to return the area to its past state as one of the most peaceful local government areas and the food basket of Rivers State.
Chris Oluoh
Business
FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions
Business
CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation
The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.
In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.
However, with time, the need has arisen to streamline these provisions to reflect present-day realities.
“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.
“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.
According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.
Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.
They must also create separate accounts to warehouse processing charges collected on excess withdrawals.
Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.
However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.
The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.
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