Business
Number Plates: ‘FRSC Deals With MDAs, Not Individuals’
The Federal Road Safety Commission(FRSC), says it does not deal with individual officials of Ministries, Departments and Agencies (MDAs) on issuance and withdrawal of their official number plates.
Head of Media Relations and Strategy, FRSC, Mr Bisi Kazeem, stated this during a telephone interview with newsmen in Abuja recently.
The Tide reports that the clarification came in the wake of a practice whereby some vehicles hang official number plates even when owners of such vehicles have left office.
According to Kazeem, FRSC does not issue number plates to individual government officials but to the heads of their respective organisations who issue them to deserving officers and withdraw same when the need arises.
“For instance, the FRSC issues official number plates to the Clerk of the National assembly who issues them to the legislators and withdraws the plates from them after their tenure.
“It is only when an organisation finds it difficult to withdraw the plates from officials who should not use them again that FRSC intervenes by informing our field officers to retrieve them during routine check.
“The process is the same with other organisations that have official number plates issued to their officers; they are also the ones to withdraw the plates from them, but in difficult cases they involve the FRSC,” he said.
The Tide source recalls that Mr Boboye Oyeyemi, Corps Marshal, FRSC, has been emphasising the need for government officials to obey traffic laws at all times, even when using their official vehicles.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
