Business
Immigration Prevents #EndSARS Promoter From Travelling
The Nigeria Immigration Service has prevented a promoter of the #EndSARS movement, Modupe Odele, from travelling.
Although the officers did not disclose the reason for their action, it is believed that the action was taken because of her alleged role in the recent #EndSARS protests.
Odele had, through her Twitter handle, @Mochievous, mobilised her 219,000 followers during the protests.
She had also offered free legal aid to persons who were unjustly arrested during the demonstrations.
Confirming the development in a newsletter sent out on Monday, the lawyer said she was on her way to the Maldives to celebrate her birthday when she was accosted by immigration officers.
She wrote, “For my birthday, I had planned a trip to the Maldives. It was really for a break as the events of the last three weeks have exhausted my mind and body in a way I have never been exhausted in my life.
“I went to the airport, passed through immigration, and while I was putting my bags through the body and baggage scanner, the immigration officer who had previously cleared me, called me back. He told me he had orders from above to detain me.
“Okay, at this point I’m like excuse me, my flight is in an hour. On what grounds are you detaining me?” He didn’t respond. Instead, he went to his computer where he typed in my name and something that looked like a ‘wanted poster’ popped up on the portal.
“He blocked my view so I couldn’t see most of it but I saw some of it. And it read something like – ‘This person is under investigation by XYZ Intelligence Agency. If seen, they should be apprehended on sight.’”
Odele said she was detained while her passport was seized by the officers and she was made to miss her flight.
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.
