Business
APBN Inaugurates Rivers Chapter Exco
Twenty-four years after its
formation and presence in some states of Nigeria, the Association of Professional Bodies of Nigeria (APBN), has formally inaugurated its pioneer elected executive body for the Rivers State chapter.
APBN’s National President, Foluso Fasoto, led a team of the national executive to inaugurate an eight-member Rivers State chapter executive Friday in Port Harcourt.
Fasoto noted that it was a thing of joy that Rivers State has become the 11th state in Nigeria to have the presence of the body and its exco officially inaugurated.
He stated that APBN is the umbrella body of government-recognised professional association in Nigeria set up to speak with one voice on behalf of its member-bodies while at the same time give professional advice to government on matters affecting the professionals and their practices.
According to him, the complexities of today’s human activities have made it imperative for various professional bodies to speak with one voice in making inputs to government.
“When we come together in this way, we can collate our views and be in a position to present to the government a well-articulated opinion on economic, social and national issues and propose policies and strategies to enable government attain its full potentials and greatness”, he said.
The National President charged members of the Rivers State branch to be elements of change as to change things positively in the state.
He further urged the eight-member executive to promote the highest ethical standards and professionalism in the state while under-scoring the importance of integrity in their operations.
“I expect the new chapter inaugurated today to co-ordinate and showcase their specialities as professionals to the state and also at the local authority level”, he said stressing that APBN embarked on state chapter formations to increase its visibility and impact the socio-economic development process in Nigeria.
Dr Ezekiel Williams emerged chairman of the Rivers State chapter while Dr Boniface Woko and Mr. Augustine Ihaza are first and second vice chairman, respectively.
Others were Joe Thomas Secretary General, Engr Emmanuel Idoniboye Financial Secretary, Barr Erasmus Dike organizing secretary, Dr. Alasia Public Relations Officer while Ms Onene Osila Obele-Oshoko is Ex-officio member.
In his acceptance speech the chaiman of Rivers State exco, Dr. Ezekiel Williams commended the body for the confidence reposed in them and promised to paddle the affairs of the chapter for two years.
To benchmark performance while in office, Williams promised, amongst other things, to ensure establishment of APBN office in the state, to contribute to the holistic development and sustenance of policies, procedures and implementation of governance in Rivers State, removal of quackery, create enabling environments for professional congresses.
Chris Oluoh/Silverline Nkenyika
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.
