Prof. Pius Olanrewaju, President of the Chartered Institute of Bankers of Nigeria (CIBN), has stated that the South-South region contributes N34 trillion to country’s economy in 2024.

He made the remark at the South-South Zonal Banking and Finance Conference in Calabar, yesterday.

He spoke on the theme, ‘’Building An Inclusive South-South: Economic Diversification as a Catalyst For Development.’’

Olanrewaju, who quoted the data from the Cable Data Index, said the feat was more than 21 per cent of Nigeria’s real Gross Domestic Product (GDP).

The president described the growth as ‘’ impressive,’’ saying that it was not driven by oil alone but significant expansions in trade, services, and the creative industries.

According to him, to fully harness this potential, coordinated financial, technological, and policy support is essential.

“As we work to reposition the South-South for broad-based prosperity, the financial system must play a central role, not merely as a source of capital, but as a catalyst for innovation, ideas incubation, and inclusive economic growth.

“This conference, therefore, provides a strategic opportunity for stakeholders to reimagine the South-South economy, not merely as a resource belt, but as a region of diverse capabilities and resilient enterprises.”

Olanrewaju added that Nigeria must move beyond old models and chart a new course for the development of the South-South region, where financial institutions and stakeholder collaborate to diversify the economy for shared prosperity.

He,  however, commended Gov. Bassey Otu for his pledge of land for CIBN Secretariat in Cross River and being the first sitting governor to willingly undergo and complete the Chartered Bankers Programme.

On his part, Gov. Otu said that the conference discussion on the economic diversification in South-South region was timely against the backdrop of global trade and economic volatility that was affecting the nation’s economy.

Represented by his deputy, Mr Peter Odey, Otu said the South-South region must now act with urgency to diversify its economy while leveraging its shared natural endowment in agriculture and extractive resources.

“This conference must help develop tailored financial solutions that reflect the unique strengths and realities of states like Cross River in the south-south.

“Diversification should be evidence-based and must be backed not just by financial advice but project focused financing and real investment support,” he noted.

He said that Cross River had taken the bold step to invest in its agricultural sector by launching an Agro processing hub.

Otu further said that the state had invested in aviation by acquiring more aircrafts for Cally Air, construction of the Bakassi Deep Seaport and injecting N18 billion in its tourism sector.

Similarly, Mr Tolefe Jibunoh, Cross River Branch Controller of the Central Bank of Nigeria (CBN) said that the region was blessed with natural resources, cultural diversities and immense human potentials.

Jibunoh, who was represented by Mr Segun Shittu, Head, Currency Control Office, CBN, Calabar, noted that strategic diversification could unlock unprecedented opportunities for growth in the region.

He added that the CBN remained steadfast to maintain monetary possibilities and promote a sound financial system as a catalyst for sustainable economic development for the benefit of all.

In a bid to decongest the correctional facilities in Rivers State, the Chief Judge, Justice Simeon Chibuzor Amadi, has pardoned 21 inmates awaiting trial at the Port Harcourt Maximum Correctional Centre.

The exercise, which held yesterday in Port Harcourt, was part of the Chief Judge’s efforts to reduce the prison population, which has exceeded its capacity.

Justice Amadi noted that the correctional centre, built to accommodate 1,500 inmates, currently houses over 2,500 inmates.

He emphasized the need for concerted efforts by all stakeholders in the criminal justice system to address the issue of prison decongestion.

The Chief Judge stated that keeping inmates in custody without trial does not benefit society and instead punishes them without justification.

He explained that the decision to release the inmates was based on a review of their cases.

The Tide reports that those with ongoing court cases were not considered for release, but inmates whose case files could not be traced and had spent years in custody without any progress in their trials were freed.

The judge maintained that the goal delivery exercise was not the normal routine duty but fundamental aspects of his judicial responsibilities rooted in legal traditional as provided in the criminal justice released from custody special provision Act Cap C,4c laws of the Federation of Nigeria 2004 and section 34 sub 1 of Rivers state Administration of Criminal Justice Law No 2015.

Among those released were two mentally challenged inmates who had spent between eight and 10 years in custody without any clear charges or trial progress.

Justice Amadi advised the freed inmates to become change agents in society and avoid repeating the crimes that led to their incarceration.

He also urged the Police to conduct diligent investigations before charging suspects to court, emphasizing the importance of proper legal procedures.

The State Controller of Correctional Service, Madumere Felix, expressed gratitude to the Chief Judge for the exercise and highlighted the challenges faced by the correctional service.

He disclosed that the maximum correctional centre has 503 inmates on death row and over 2,500 inmates in total, far exceeding its capacity.

Felix called on the Chief Judge to help channel the service’s challenges to the state government for support and assistance.

The three-day Fidau for the late former President of Nigeria, Muhammadu Buhari, was held last Wednesday at his residence in Daura, Katsina State.

The prayer drew prominent national leaders, Islamic scholars, and dignitaries from across the country, and was led by the Sarkin Malamai of Daura, Mallam Naziru Daura, who offered prayers seeking Allah’s forgiveness for the deceased.

At the event were Vice President Kashim Shettima, former Vice President Atiku Abubakar; former Labour Party presidential candidate, Peter Obi; Borno State Governor, Prof Babagana Zulum; Katsina State Governor, Dikko Radda, and former Kaduna State Governor Nasir El-Rufai, among others.

The event also attracted former Minister of Foreign Affairs, Babagana Kingibe; Minister of Housing and Urban Development, Ahmed Dangiwa; former Katsina State Governor, Bello Masari; Minister of Information, Mohammed Idris; Minister of Budget and National Planning, Atiku Bagudu; Minister of Health, Prof Ali Pate; Minister of Agriculture, Abubakar Kyari; former Minister of Aviation, Hadi Sirika; former Minister of Justice, Abubakar Malami, and former Minister of the Federal Capital Territory, Muhammed Bello.

Also present were Senator Abdulaziz Yar’Adua, Senator Sani Zangon Daura, former Director General of the National Intelligence Agency, Ahmed Rufai; former Chief of Army Staff, Tukur Buratai, and chairman of the National Drug Law Enforcement Agency, Brig Gen Buba Marwa (retd).

The late President Buhari’s nephew, Mamman Daura, was also present at the event.

Traditional leaders in attendance included the Emir of Daura, Alhaji Faruk Umar Faruk; the Emir of Potiskum, the Emir of Gumel, along with kingmakers and district heads from both Katsina and Daura Emirates.

Shettima who represented President Bola Tinubu at the event, said, “Death is an inevitable destiny that is hanging on everyone’s neck.”

He shared a behind-the-scenes account of an assignment given to him by the President to visit the late President in a London hospital.

According to him, “When Buhari was in London for medical attention, it was Tinubu who sent me on a very sensitive mission to see him. It was not a public engagement but quiet and critical.”

The Vice President did not, however, detail the specifics of the mission.

While praying to God to grant the late Buhari’s soul eternal rest, he asked the people to consider themselves as travellers with bags and baggage waiting for the train.

“Former President Buhari’s death wasn’t a loss to the family alone, or the people of Daura or Katsina State, it was a national loss,” he said.

Radda, who led the Katsina State Government’s delegation, offered prayers for the late leader.

“For we, the people of the state, it is indeed a great loss. We have lost a father, a guide, who supported us throughout our journey.

“All we have to do today and beyond today, forever, is to continue to pray for his departed soul.

“May Almighty Allah accept all his good deeds, and forgive his wrongdoings.

“May Allah return each one of you to your final destination safely and continue to guide us all to uphold the legacies he left behind,” Radda said.

Radda called on leaders to reflect on Buhari’s death, “so that it may serve as a lesson to fear God in our leadership positions.”

Former Minister of Communications, Prof Isa Pantami, led an additional session of prayers, asking for Allah’s mercy on the soul of President Muhammadu Buhari.

Meanwhile, the Senate President, Godswill Akpabio, also on Wednesday, led a National Assembly delegation to Daura for a condolence visit.

Akpabio, speaking during the visit, described the late President as “a patriot, a man of integrity, and a shining light who served Nigeria both as a military leader and democratically elected president.”

He revealed that the delegation faced travel challenges the previous day when their flight could not land due to airport closure, forcing them to circle for over two hours before diverting to Abuja.

“We insisted we must return today to honour a man who gave everything for Nigeria,” Akpabio said.

The Senate President, who served as a minister under Buhari, described his legacy as one defined by discipline, humility and love for the country.

He equally highlighted his connection to Katsina State, recalling the establishment of the Faculty of Law at Federal University, Dutsin-Ma, which he insisted be named after Buhari rather than himself.

Governor Radda thanked the delegation for the visit.

The delegation included the Chief Whip, Senator Tahir Munguno, Senator Ali Ndume, Senator Saliu Mustapha, Senator Benson Agadaga, Senator Munir, Senator Sani Zangon Daura Jr., and Senator Asuquo Ekpenyong.