Business
Community Demands Employment Slots
The Oginigba community in
Obio/Akpor Local Government Area of Rivers State has called on the management of Pabod Breweries to employ indigenes of the community into its managerial cadre and also give to the community 20 employment slots to ensure that men and women of the community are fully engaged, among other demands.
The community which made the demands on the heels of a peaceful protest by indigenes of the community last Tuesday at the company’s main gate said it was unfortunate that the company had not done enough to employ and empower the people.
Articulating the community’s position during a peace meeting brokered by the Paramount Ruler of the community, Eze G. B. Odum, at his palace onTuesday between managers of the company and indigenes of the community, former Public Relations Officer of the Oginigba Youth Association, Mr. Kenneth Onunwor Amadi, appealed to Pabod Breweries management to create an avenue where both the youths and women of the community are allowed to do contract jobs, vendorship and supplies for the company, saying, allowing them to do so
would go a long way to empower them.
He decried a situation where an indigene of the community had never been employed as the Human Resources Manager of the company, for which reason, it was resolved by the community at the meeting that since the company already had a Human Resources Manager, the company should appoint an indigene of the community as Assistant Human Resources Manager within the shortest possible time.
While commending the company for executing various development projects in the community, Mr. Amadi equally appealed to the company to execute more projects in the community this year.
He also stressed the need for the company to give 10 additional scholarship slots to the community this year to enable the three compounds that make up the community to benefit maximally.
The former PRO equally stated that the community had resisted the change of labour brokers earlier appointed by the company, and demanded their immediate reinstatement and also the review of their contract terms.
He further alleged that the company had refused to grant the community access to negotiate with a new company, a Shopping Mall established inside Pabod Breweries, stressing that the company had equally refused to acknowledge and recognise a new Community Liaison Officer (CLO) posted to it by the community.
Amadi also brought to the fore the issue of the members of the new interim committee of the youth body duly appointed by Obio/Akpor Local Government Council which the company had refused to recognise.
In its response, the management of Pabod Breweries represented at the meeting by the Corporate Affairs Manager; Mr. Ken Ichoku, the Human Resources Manager, Mr. Benjamin Akunjobi and the District Manager, Mr. Chiemeka made some concessions to the community.
Speaking at the meeting, the Paramount Ruler of Oginigba community, Eze G.B. Odum thanked all the parties for their cooperation, and expressed joy that problems affecting companies in the area and the community were always amicably resolved at a round table.
He, however, blasted the Human Resources Manager, Mr. Benjamin Akunjobi for avoiding him for close to four years he had worked with the company in that capacity, and urged for a change of attitude.
Odum also decried a situation where the General Manager of the company who is from Mozambique and the other two top managers of the company did not attend the meeting. attend
attend the peace meeting, stressing that their presence would have created an atmosphere for all other knotty issues affecting the company and the community to be thrashed out.
While stressing the need for the company to always carry along both the King and the people of the community, he said he was happy that his intervention had brought about peaceful and amicable resolution of the issues at stake, and cautioned the people, Pabod Breweries and other companies in the area not to do anything that would fuel crisis and jeopardise the peace the community has been enjoying.
Donatus Ebi
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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