Business

NDIC Urges Microfinance Banks To Access N220bn MSME Fund

Published

10 years ago

August 22, 2016

The Nigeria Deposit In
surance Corporation (NDIC) has appealed to Microfinance Banks (MFBs) to access the N220 billion Micro Small and Medium Enterprise (MSME) Fund for the benefit of their customers.
It’s Managing Director, Mr Umaru Ibrahim, made the appeal in Benin during the 2nd Annual Conference on Microfinance and Enterprise Development organised by the LAPO Institute for Microfinance and Enterprise Development on Wednesday.
Ibrahim said that the N220 billion MSME fund was an intervention fund provided by the Central Bank of Nigeria (CBN) to boost small and medium businesses in the country.
He said that access of the MSME fund by MFBs would go a long way to reducing scarcity of loanable funds which had been a major challenge confronting MFBs in the country.
The NDIC boss, who was represented by a Director in the Corporation, Mr Joshua Etopidiok, also urged MFBs to lower their lending rates to attract more customers.
He said that the role of MFBs in poverty reduction could not be over emphasised, saying that high lending rates would discourage many customers from accessing their loans.
He also called on operators of MFBs to be innovative and be prudent in their operations for the benefits of their depositors and all stakeholders.
The NDIC boss said that the corporation was committed to growth and development of MFBs in the country through its capacity building support programmes.
He said that the corporation had organised sensitisation workshops on Enterprise Risk Management for 400 MFBs Operators in the country.
He also said that the corporation, in collaboration with CBN, conducted on-site examinations for MFBs to ensure safety and soundness of the sub-sector.
Ibrahim listed challenges confronting MFBs to include poor asset quality, lack of micro finance knowledge and experience, poor corporate governance as well as high operating cost.
Other challenges, he said, were scarcity of loanable funds, inadequate/lack of rendition of returns to supervisors and limited outreach as well as low literacy level.

Business

Ogoni Oil Resumption: Group Demands Transparency, Full Jobs Disclosure, Contracts

Published

2 hours ago

August 24, 2026

The Tide

A group under the aegis of the Greater Ogonis in Diaspora Organizations (GODO) has called for full transparency and accountability in the ongoing dialogue over the proposed resumption of oil production in Ogoniland, demanding disclosure of employment opportunities, contracts, confidence-building projects and other oil-related activities.

The group made the demand in a statement signed by its President, Chief Ambrose Kii and made available to the public in Port Harcourt , at the weekend.

GODO said the concerns raised by the President of KAGOTE, Chief Lesi Maol, a member of the Ogoni Dialogue Committee, Rev. Msgr. Pius Kii, and KAGOTE Second Vice President and ODC member, Rear Admiral John Nicholas Bakpo (rtd.), had reinforced the need to protect the collective interests of the Ogoni people.

The group stressed that its position should not be interpreted as opposition to the Federal Government or the proposed return of oil production to Ogoniland, but as a demand for a process that is transparent, equitable,

environmentally responsible and capable of delivering lasting benefits to the people.

It expressed particular concern over reports concerning 40 employment opportunities reportedly allocated to Ogoni youths by the Nigerian National Petroleum Company Limited (NNPCL) as part of confidence-building measures.

GODO demanded the public disclosure of the identities of the beneficiaries, their communities and local government areas, as well as the criteria used in selecting them and the process through which the list was approved.

It also called for an investigation into allegations that 18 of the 40 employment slots were allegedly allocated to persons who are not Ogonis, stressing that such a serious allegation should not be ignored if confidence in the dialogue process is to be sustained.

The organisation said any diversion of opportunities specifically meant for Ogoni youths would constitute a breach of trust, insisting that all beneficiaries and the basis of their selection should be subjected to appropriate scrutiny.

It further raised concerns over reports that oil-related activities may have commenced in some parts of Ogoniland while negotiations between the Federal Government and representatives of the Ogoni people are still ongoing.

The group maintained that critical issues relating to participation, equity, community benefits, environmental safeguards and other conditions for the resumption of oil production must be resolved before irreversible decisions are taken.

According to GODO, allowing oil activities to proceed while fundamental negotiations remain inconclusive could create a situation where Ogoni stakeholders are eventually confronted with decisions that have already been taken without their full participation.

The organisation also demanded comprehensive details of the confidence-building projects reportedly being executed across Ogoniland, including their locations, contractors, scope, funding arrangements and implementation status.

It said concerns raised by Rear Admiral Bakpo, who reportedly complained that despite being a member of the ODC and a monitoring team for confidence-building projects in Khana, he was allegedly unaware of the contractors and scope of projects he was expected to monitor, required urgent attention.

GODO also called for clarification of the reported harmonisation arrangement involving individuals allegedly outside the ODC, urging the Office of the National Security Adviser to clarify whether it authorised the composition of the controversial list and, if not, establish how the names became associated with the office.

The group urged President Bola Ahmed Tinubu and the National Security Adviser, Mallam Nuhu Ribadu, to review the emerging concerns, saying the Ogoni people have waited for decades for a credible resolution and should not be pressured into accepting an arrangement that fails to guarantee justice, transparency, meaningful participation, environmental protection and equitable benefits.

King Onunwor

Business

Foundation Unveils New Digital Medical Facilities

Published

2 hours ago

August 24, 2026

The Tide

The management of Save a Life Hospital has unveiled a fully digitalised medical facilities to enhance effective medical services and treatments for its patients across the globe.

The Founder and Director of the foundation, Dr Richard Okoye who conducted journalists round the facilities at the hospital in Port Harcourt, Friday, said the unveiling of the digital facilities was a dream come through and a commitment to international best practices.

He said the breakthrough makes save a Life hospital th.e first fully digitalised hospital in Africa, adding that the hospital will remain committed to research, innovation and excellence service delivery.

Briefing newsmen at the hospital, Dr Okoye disclosed that Nigeria was rated globally to have the lowest life expectancy after Afghanistan, adding that the situation was worsened by the mass flight of doctors from Nigeria to seek greener pastures out the country, known as jakpa syndrome.

According to Dr Okoye, part of the innovations recorded by safe a Life Foundation is the introduction of a medical application known as ‘my home clinic’ which avails patients the opportunity to engage medical facilities and enjoy medical services from their homes.

The renown medical practitioner pointed out that proper information management is applied to check misdiagnosis, minimize hytrogenic deaths and other tactical errors of medical enquiry; and practice.

He emphasised that the home delivery of medical services has also enhanced zero maternal mortality, as proper digital records of pregnant women are carried out with precision and followed up with proper medical services.

Dr Okoye called on governments and other stakeholders to key into the innovation to get it properly domesticated in tertiary, secondary and primary health care practices, adding that the target is to bridge the gap in jakpa syndrome and shore up Nigeria’s life expectancy ratio by reducing preventable deaths.

Oil & Energy

Oil Exploration Resumption: OYF Demands 500 Job Slots

Published

3 hours ago

August 24, 2026

The Tide

Youths of oil-rich Ogoni ethnic nationality in Rivers State under the aegis of Ogoni Youth Federation (OYF) have demanded 500 job slots from the Nigerian National Petroleum Company (NNPC) Limited following the planned resumption of oil exploration in the area.

This figure is against the already released 40 slots by the company.

Consequently, the youths have moved to convene a national congress of youths to address issues relating to the oil exploration, which has sparked palpable divisions in the area.

Speaking during the inauguration of the Planning Committee for the Congress, in PortHarcourt, at the weekend, the President-General of OYF, Worldwide, Engr. Legborsi Yamaabana, described the congress as urgent, and targetted at addressing all issues arising from the planned oil resumption.

Yamaabana commended President Bola Ahmed Tinubu on his efforts in giving attention to reopening oil businesses in the area, noting however, that Ogoni stands at a crossroads following the issues surrounding the oil resumption.

He said “The Ogoni nation stands at a critical crossroads in its history. We acknowledge the renewed political attention of the Federal Government of Nigeria under the leadership of His Excellency, President Bola Ahmed Tinubu (GCFR), particularly regarding the proposed resumption of oil and gas exploration in Ogoniland after more than three decades of suspension.

“While we recognize this development as a significant national conversation, we emphasize that any engagement concerning Ogoniland must be anchored on the principles of environmental justice, equitable benefit-sharing, and the protection of the dignity, rights, and future of the Ogoni people especially our youth, who remain the custodians of tomorrow.

“The Ogoni struggle is not merely historical; it is living, evolving, and central to the future of sustainable development in the Niger Delta and Nigeria at large.”

He called for calm over the 40 job opportunity given to the area by the NNPCL, insisting that such allocation was insufficient compared to the contribution of Ogoni to the economy.

Yamaabana rather requested that NNPCL, as a matter of importance, give 500 job slots to youths of the area,

In the interim, the leadership of OYF Worldwide has observed the unnecessary tension and uproar surrounding the reported 40 slots of employment opportunity allocated to Ogoni youths in NNPCL and its subsidiaries, as part of Federal Government confidence-building measure toward the resumption of oil and gas activities in Ogoniland.

“We wish to state clearly that this 40 slots is paltry and insignificant given the scale of our sacrifice; and as such, it should not become a source of internal rancour, division, or friction among our people.

“We strongly appeal to all Ogoni political, traditional, and community leaders to sheath their swords, maintain calm, and refrain from unnecessary squabbles over crumbs.

“Without preempting the sovereign deliberations of the upcoming Congress, let it be noted that Ogoni youth will not settle for tokenism.

“At the upcoming Congress, we shall formally demand a minimum of 500 direct employment opportunities within the Nigerian National Petroleum Company Limited (NNPCL) and its subsidiaries for qualified Ogoni youths, who have been economically sidelined and left inactive throughout this 33-year stalemate.”

Following the issues raised, Yamaabana said that convening of the Ogoni Youth National Congress 2026 has become an urgent necessity, regretting that some individuals were working to truncating the efforts of the Federal Government toward peaceful resumption if oil exploration in the area.

He, however, tasked the committee to amongst other terms of references design an operational framework for the Congress and ensure a Broad-based mobilisation of other youth groups, stakeholders for the Congress that would be held both physically and virtually.