Business
Ogoni Day: Amaechi Condemns Manhandling Of Journalist
The Rivers State Governor, Rt. Hon. Chibuike Rotimi Amaechi has condemned ‘ man-handling of a journalist in the state, who was covering the 19th edition of the Ogoni Day in Bori.
The journalist, Mr Kenneth Amabipi of the Port Harcourt-based National, Network is still, receiving treatment at an undisclosed hospital in the state.
A statement signed by the Acting Chief Press Secretary to the Governor, Mr Blessing Wikina, noted with disdain the manner some miscreants molested the journalist and inflicted wounds on him.
“It is saddening to see that journalists are now made easy targets by some self-serving miscreants doing the bidding of their paymasters” he said, regretting that newsmen ought to be protected to do their duties.
“We have left the era of violence in our state, and government would respond decisively to any attempt to re-introduce violence to any area of our state,” Mr Wikina said.
He therefore called on law enforcement officers to fish out the perpetrators of the dastardly act and bring them to justice.
The governor sympathized with the affected journalist, Mr Kenneth Amabipi of the National Network Newspaper and urged him not to allow the incident deter him from his sacred duties to society.
However, the Office of the Acting Chief Press Secretary to the Governor has undertaken to replace the camera of the journalist which was stolen by the miscreants.
Meanwhile, the Abe Campaign Organization has criticized the planned attack on Hon. Magnus Ngei Abe, an aspirant for the Rivers South East Senatorial District. In a statement signed by Honour Sirawoo, Head, Media, Publicity, the Campaign Organisation regretted that at a time the world is set for issue-based and non-violence in politics, some politicians are still embracing thuggery as a means of silencing political opponents. It described this as wicked and intended to embarrass the highly respected aspirant whose towering credentials are admired by not only Ogonis but the entire people.
The Campaign Organisation therefore advised politicians to see their political expedition as an opportunity to serve their people with integrity, rather than personal aggrandizement.
It would be recalled that Hon. Magnus Abe was at the Ogoni day celebration with the State Governor, Rt. Hon. Chibuike Rotimi Amaechi where the former among others spoke at the event that attracted applaud. Unfortunately, some persons suspected to be hired thugs numbering about 25 threw stones and other deadly weapons at Abe. The aspirant’s car was damaged and that of his supporters. The governor’s convoy cars were not spared in the attack that saw prominent Ogoni sons and daughters scampering for their dear lives.
The campaign organisation believed that the attack was sponsored by out-of-favour, non-performing and self-centred politicians from the Ogoni area.
It called on security agencies to intensify efforts at bringing the perpetrators and their sponsors to book no matter how highly placed, while urging its supporters and the people of Ogoni to remain calm.
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.
Business
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