Business
NCSU Boss Hails Wike, Workers’ Meeting …Decries Consultancy In Civil Service
The Rivers State Chairman of the Nigeria Civil Service Union (NCSU), Comrade O.T. Lilly-West, has applauded the State Governor, Chief Nyesom Wike for finding time to interface with civil servants, at the State Secretariat Complex, Port Harcourt, on Monday, saying, it is a recognition of the fact that civil servants are engine rooms of government.
Lilly-West, who made the remarks in an interview with The Tide in Port Harcourt said by meeting with civil servants, Governor Wike had shown that he is a seasoned administrator, adding that the governor’s pronouncements during the meeting were an indication that he is abreast with the problems of the civil service in the state.
He also applauded the governor’s decision to constantly liaise with the Head of Service, Barrister Samuel LongJohn over the payment of salaries of civil servants, describing it as a right step in the right direction.
According to him, there was no way the governor would effectively address the problems of the workers without working with the Head of Service.
He said the decision of the governor to work with the Head of Service was also geared towards reinvigorating the civil service, saying, the Head of Service was an egghead who had brought a lot of innovation into the civil service since assuming office.
By introducing Biometrics Captured System into the civil service, Comrade Lilly-West said the Head of Service had through the innovation reduced to the barest minimum the ghost workers syndrome, assuring that NCSU and other industrial unions in the state would work with the state government to completely eradicate the scourge.
While lamenting a situation where names of dead civil and public servants were still allegedly in the salary vouchers and payroll, the labour leader described it as the highest level of corruption and fraud within the civil service, and assured that the NCSU and other unions would ensure that the unwholesome practice was completely eradicated.
The NCSU boss also decried a situation where retired civil servants in the state were used as consultants by the past administration to execute jobs and projects, saying, it was a ploy to take away jobs that were supposed to be handled by civil servants.
According to him, the practice was killing the zeal and motivation of civil servants in the state.
Lilly-West, however, expressed optimism that Governor Wike would address the structural and infrastructural problems facing the civil service, and thanked him for interfacing with the workers.
He advised civil servants to adhere to the governor’s admonition to always follow due process, particularly in going about their demands, assuring that labour leaders in the state were poised to give to the workers what rightly belonged to them.
Donatus Ebi
Business
Private sector gets N2.2tr credit in 30 days — CBN
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.
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