News
DFC Commits $280m In Financing To Boost Small Businesses In Nigeria

The United States International Development Finance Corporation (DFC) Chief Executive Officer, Scott Nathan, alongside Access Bank Managing Director, Roosevelt Ogbonna, have signed a commitment letter for $280million in financing for Access Bank Plc in Nigeria.
The loan would help address the financing gap for small- and medium-sized enterprises (SMEs) and advance financial inclusion in Nigeria, including through the bank’s commitment to supporting women-owned and -led businesses.
A statement signed by the US Mission in Nigeria, and made available to The Tide in Port Harcourt, yesterday, quoted Nathan as saying that, “DFC’s investment in Access Bank demonstrates U.S. support for private sector-led development in Nigeria and throughout West Africa.
“The $280million loan from DFC will boost financial inclusion in Nigeria and empower women, bolstering the country’s economic growth”.
U.S. Ambassador to Nigeria, Mary Beth Leonard, said, “We welcome U.S. International Development Finance Corporation CEO, Scott Nathan to Nigeria.
“We look forward to discussing with the public and private sectors how DFC funding can be leveraged to unleash the full economic potential of Nigeria through support to the country’s small and medium-sized businesses, financial sector, and climate change-focused enterprises”.
Also speaking, Managing Director of Access Bank, Roosevelt Ogbonna, said, “Access Bank is extremely pleased to announce this strategic partnership with DFC to support the multitude of businesses across Nigeria who stand to benefit from greater access to finance, especially in an environment that is in need of stronger economic diversification.
“We look forward to utilizing the partnership with DFC in driving further economic expansion and inclusion in Nigeria, with a strong focus on non-oil sectors and women businesses.”
In his remarks, the Citi EMEA Head of Emerging Markets Corporate Bank, Rizwan Shaikh, said, “We are delighted to have collaborated with Access Bank and DFC on this significant transaction, which will significantly boost SME corporate activity in Nigeria.
“This is yet another milestone stride for Citi as it executes a focused local-economy development strategy based on solid partnerships with key clients and development agencies.”
DFC financing for Access Bank will provide needed liquidity given the global economic downturn caused by the COVID-19 pandemic.
The loan is expected to support at least 4,000 new SME loans in Nigeria.
In addition, the loan proceeds will be on-lent across more than a dozen sectors in the Nigerian economy, with specific focus on women-owned SMEs, and on loans with longer tenors, which will provide more flexibility to borrowers.
Access Bank is one of the largest banks in Nigeria and has banking subsidiaries throughout Africa.
Citibank acted as the coordinator and arranger/co-lender to help facilitate the loan.
By: Nelson Chukwudi
News
Retirement: Ignore PSC’s Directive, Remain In Office, IGP Tells Officers

The Inspector General of Police, IGP Kayode Egbetokun, has instructed all police officers affected by the recent directive from the Police Service Commission (PSC) to disregard the order.
The PSC had directed officers who have served 35 years or reached 60 years of age to retire immediately.
A wireless message from the office of the Force Secretary, dated February 11, 2025, stated that the IGP “strongly directs all officers affected by the PSC’s directive to stay action, pending further instruction.” Officers were told to comply strictly with this order.
Last week, PSC spokesman Ikechukwu Ani, explained that the commission’s order followed a review of its previous stance from the 24th plenary meeting in September 2017, allowing force entrants to use their enlistment date rather than their initial appointment date.
The commission cited inconsistencies with Public Service Rule No. 020908, which mandates retirement after 35 years of service or upon reaching 60 years of age.
However, the PSC clarified that it does not have the constitutional authority to determine the appointment or retirement of IGP Egbetokun.
News
Be Consoled, God Who Gives, Also Takes, Fubara Tells Principal Secretary

Rivers State Governor, Sir Siminalayi Fubara, has extolled the sterling motherly virtues of late Mama Ayebadieye Edward Igbeta, and urged the children not to deviate from those valuable lessons she had taught them.
Late Mama Ayebadieye Edward Igbeta (79 years) is the mother of Dr Ayebaesin Jacob Beredugo, the Principal Secretary to Governor Fubara.
The Rivers State Governor, who described Dr Beredugo as a brother, trusted ally and key stakeholder of his administration, urged him to be consoled in God and bear the loss with fortitude.
Governor Fubara gave the advise at the funeral service in honour of late Mama Ayebadieye Edward Igbeta at the Cathedral Church of St Luke, Anglican Communion in Nembe City, Nembe Local Government Area of Bayelsa State yesterday.
The Rivers State Governor said: “We are here as a government to show that in this difficult time, we stand with him. We know that there is no consolation here that can fill the gap of this loss, more especially the loss of a mother.
“But, we want to draw his mind to the good Book: that it is the Lord that giveth, and it is also the Lord that taketh. And he takes for a reason.
“We live in a corrupt world, and when you are a saint in the world, when it pleases the Almighty and He believes that He doesn’t want you to be corrupted, He takes away the soul to a better place where death is no more, where you don’t have to look for food again, where you have peace.”
Governor Fubara expressed strong belief that given the way Mama had lived and the good virtues that had been read out and said about her, there is no doubt that she will be in a good side in heaven.
The Governor decried the current condition of the cathedral where the funeral service held and committed the support of the Rivers State Government to ensure the completion of the building in memory of late Mama Ayebadieye Edward Igbeta
“We have been made to understand that the Cathedral needs strong support. We are willing to support the completion of the Cathedral. We will support the building in memory of Mama with the sum of N50million”
Delivering the sermon on the topic; “Hope in the face of death”, Bishop of the Diocese of Western Izon, Rt. Rev. Victor Okporu, said those who are confidently expecting positive future must also believe in Jesus Christ, repent of their sins, and be prepared to spend eternity with Him.
Reading the biography of the late Madam Ayebadieye Edward-Igbeta, brother of the decreased, Mr Godwin Ekine, said his late sister was an embodiment of love, care, peaceful and kind-hearted, and touched lives through her generosity and compassion.
Friends and well-wishers from Bayelsa, Rivers and Delta states, some of whom shared fun memories of the late matriarch, were later hosted to a funeral reception at King Koko’s Square in Nembe Town.
Also at the burial were the State Deputy Governor, Prof Ngozi Odu; Speaker, Rivers State House of Assembly, Rt Hon Victor Oko-Jumbo; member representing Ikwerre/Emohua Federal Constituency in the National Assembly, Hon Boniface Emerengwa; and Chief of Staff, Government House, Dr Edison Ehie.
Others are Head of Service, Dr George Nwaeke; Attorney General and Commissioner for Justice, Dagogo Israel Iboroma, SAN, Dr Tamunosis Gogo-Jaja; Chief Hanny Woko; Amaopusenibo Fubara Hart; Chief Theodore Georgewill; members of the State Executive Council; Special Advisers; top politicians, leaders and stakeholders in the State; among others.
News
Old Boys Plan Rehabilitation Of GSS, Okehi
The Chairman of the Old Boys Association of Government Secondary School (GSS), Okehi Etche, Rivers State, Prof. Sir, Umunna Offor, has stated that the association would soon visit their alma-mater and rehabilitate decayed infrastructure and facilities in the compound.
The chairman made this assertion while speaking with some newsmen after an extensive meeting of the Old Boys in Port Harcourt, recently.
Sir Offor stated that since they left the secondary school, some years ago, most of the facilities and infrastructure built by then Rivers State Government had decayed and worn out.
“ However, being responsible ambassadors and Old Boys of the college, we would not fold our arms and expect government to rebuild everything in the school compound, hence, we have decided to come together and graciously assist our alma mater’, he said.
“The meeting was basically for like-minds to gather to find a way to help the school, it is a thing of joy to see and receive old school friends and comrades who have gone far in life and have excelled in their respective chosen fields”.
Speaking in the same vein, Engr, Lasbrey Amadi; (FNSE), who is also an old boy and former member of the House of Representatives, said the association would be working in synergy with the administrators of the school to ensure that in no distant time; there would be a massive face-lift in the physical infrastructure in the school compound.
Veering into politics in Nigeria of today, Engr, Amadi, said that god-fatherism in politics had seriously killed the gains and beauty of democracy in Nigeria and quickly urged politicians to always play-down the issue of god-fatherism in politics and ensure good governance in the country.
In his comment, the Public Relations Officer (PRO) of the Association, Mr Goodluck Nwaobilor, said the door of the association is still wide open for new members who finished from the school to join and work towards taking the association to higher level.
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