Business
Firm Organises Free Healthcare Services In Rivers Community
As part of efforts to promote healthy living in its host and neighbouring communities, oil giant, Total E&P has kicked off a one week free health care programme in Opobo/Nkoro Local Government Area of Rivers State.
The well attended event which held at the Opobo General Hospital last Wednesday, as part the company’s Corporate Social Responsibility (CSR) was graced by the Chairman, Rivers State Council of Traditional Rulers, His Royal Majesty King Dandeson Douglas-Jaja, who is also the Amayanabo of Opobo Kingdom.
The Deputy Managing Director, Port Harcourt District of Total, Mr. Francois Le-Cocq, in his keynote address at the third day of the week-long mass free medical service for the company’s offshore neighbouring communities of Opobo and Nkoro, revealed that it was the first time the life-saving medical outreach was holding in the local government area.
Le-Cocq, who was represented by Total’s Community Affairs Manager, Offshore, Okechukwu Obara, said: “As a company, Total E&P Nigeria Limited, shares in the universal saying that healthy people make a wealthy nation.
He said:, “We are sustaining the noble efforts of the joint venture to reach out to the critical needs of our people and support both preventive and curative healthcare delivery policies and programmes of government, despite the challenging business environment.
“After two days of this programme, available statistics indicate that 450 patients have so far been attended to. 85 were pediatric cases, 112 ophthalmological, four ante-natal cases, while four patients have already undergone successful surgeries, while others are awaiting further review, preparatory for surgery. The figures will rise as the days go by, which is a testimony that the programme is very popular and it is highly patronised by the people.
The deputy managing director also hailed the joint venture partner, the Nigerian National Petroleum Corporation (NNPC), for the continuous support, and thanked the Rivers State government for approving the team of medical personnel and volunteering its facility for the programme, while commending other partners for the success of the event.
Le-Cocq further said that in order to have healthy citizenry, other oil companies, multinationals and other critical stakeholders should emulate Total, since a stitch in time saves nine.
In his welcome address, Chairman of the Memorandum of Understanding (MoU) Community Representative, Alabo Godwin Bupo, disclosed that many development projects by Total were ongoing in the area, while expressing gratitude to the oil giant.
Also speaking, the Programme Facilitator, Dr. Daniel Onyetulem, stated that he had passion for saving lives and medical missions, after he saved an eight-year-old boy, who was diagnosed of Typhoid fever perforation and at the point of death, but with poor parents who could not afford the bill, many years ago at the Ahmadu Bello University Teaching Hospital, Zaria, making him to donate blood to save the life of the patient.
Onyetulem said: “One of the major challenges of people not going to hospitals for treatment is because they could not afford the bills. The Opobo medical mission is coming at the right time, as the patients are leaving happier than they came.
“Unwanted pregnancies, rape cases and substance abuse are rampant in this area and other parts of Rivers State, and they must be quickly addressed, especially by creating awareness through continuous campaigns.”
The medical doctor also lauded the oil giant for the initiative and people of Opobo for the cooperation and warm reception.
The Opobo first class monarch who was represented by the Vice-Chairman of Opobo Council of Traditional Rulers, HRH Alabo Princewill Dappa, in his goodwill message on the occasion, urged the people not to be careless with their health.
King Jaja stated that health should be taken seriously by people, in order to live longer, thereby meaningfully contributing for societal development.
The Opobo king also urged the oil giant to extend the programme to other communities in the area, while lauding Total for the initiative and thanked the volunteers for attending to the people, thereby making the programme to be a blessing to many persons.
One of the beneficiaries, Mrs. Rosemary Wilcox, said: “The free health programme is very encouraging. It is timely and good for many of us who do not have money to go to the hospitals for check-up or treatment of various ailments, but we are being treated free of charge and given free drugs, including surgeries for critical cases.”
Chairman of Opobo/Nkoro local government council, Eugene Joseph Oko-Jaja, in his goodwill message, pleaded with Total to consider for employment opportunities, the teeming qualified youths of the area, who he said were currently jobless and hungry.
Oko-Jaja, who was represented by a top official of the council, Francis Allison, called on Total to make the free health programme an annual event, while assuring that he was ready for synergy with development agencies, to move the LGA forward.
Dennis Naku
Business
33 Banks Raise N4.65tn As Recapitalisation Ends
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.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
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.
Business
Yenagoa’s Radisson Hotel Ready December — NCDMB, Other
-
News4 days ago
Decentralizing Pipeline Surveillance Poses Greater Dangers To Niger Delta …. Group Warns
-
Politics5 days agoAPC Resumes Electronic Membership Registration Nationwide
-
Rivers5 days agoCourt Rules Out Interim Administration In Jumbo House, Bonny
-
Business4 days ago33 Banks Raise N4.65tn As Recapitalisation Ends
-
Politics4 days agoAlleged Coup: Protests Rock N’Assembly As Detained Officers’ Children, Wives Demand Justice
-
Nation5 days agoNile University Hosts ICA Nigeria First National Confab On Global Communication
-
Sports4 days ago
Lewandowski Leads Top Stars Missing From W/Cup Roll Call
-
Sports5 days agoPara Games: Team Rivers Wins 53 Medals On Day 5 … Director Praise Athletes
