News

Nigeria’s ECN brokers and their policy towards COVID-19

Published

6 years ago

April 28, 2020

The coronavirus outbreak was completely unexpected as it took a toll on the entire planet in a matter of a couple of months. The spread of the infectious disease that has long been declared as a global pandemic is the biggest threat humanity has faced in almost a century. The human cost is absolutely unprecedented, yet, the economic aftermath is also expected to break records of the 20th century. It has been forecasted that the novel coronavirus pandemic will push the global economy into a major recession not witnessed since the great depression.

The novel coronavirus, later named COVID-19, initially started in China, specifically in its Hubei province which is home to more than 58 million people. Roughly the size of Italy, the virus spread within the province and later across mainland China faster than anyone would have expected. The epicenter of the country was the capital of the province – Wuhan. The city of 11 million inhabitants became the first major area to go under strick lockdown in the world.

Nevertheless, despite strict measures and suspended flights from many countries to and from China, the virus still found its way out of the country. It first entered other Asian nations followed by first European and American cases in Bordeaux, France, and the State of Washington respectively. Soon, Italy became the global epicenter of the deadly virus pandemic, infecting tens of thousands and killing more than 24,000 people. The northern region of Lombardy, the economic driving force for the nation came under particular pressure as Milan and Bergamo were the first two urban areas to go into strict lockdown.

However, the virus would not stop there as it infected hundreds of thousands all across Europe. As of now, Spain is the main hotspot on the continent with over 200,000 confirmed cases. The situation in the United Kingdom is developing fast as well with the highest number of daily cases on the continent. The country’s prime minister Boris Johnson is still recovering from the virus after testing positive and spending a few nights in intensive care. This makes the situation for Britons even more unbearable and stressful.

The United States, due to its late response, is the most affected nation globally. The country has more than 820,000 confirmed coronavirus cases while the death toll has already exceeded 45,000. The nation’s and globe’s financial center, New York, has the highest concentration of cases per 1 million inhabitants across the US. This economic powerhouse remains closed, threatening millions of jobs and income sources for Americans, as well as for people from all around the world.

Nigeria unlike countries with tens of thousands of cases remains thoroughly stable in regard to the health system. It is not yet overwhelmed as the nation of almost 200 million has only 782 infections. However, the crude oil price slump in the US put Nigeria in a very difficult economic position. The country exports the vast majority of its oil products to the United States, the sector that generates 60% of the government revenues and represents 90% of all foreign trade.

As a result, the market prices of Nigerian companies are falling. So is the Nigerian Naira, which remains stable but is expected to drop dramatically following the plunge. People are particularly sensitive to recession fears in this country which remains utterly poor. People and households with some savings are trying to do their best in an effort to avoid the devastating impact of the upcoming economic crisis. Many people are finding the best solution in purchasing foreign sovereign currencies in Forex markets. As a result, a growing number of people are approaching entities on the ECN forex brokers list here in Nigeria.

How are ECN brokers reacting to the crisis?

The Forex platforms have been an important part of the financial industry for a while now. Many influential and well-known businessmen, including the famous Hungarian philanthropist George Soros, made their wealth out of Forex trading. It is playing a major role in the financial sectors of many countries, including Nigeria.

Nigeria is becoming increasingly globalized, with more international businesses present than ever before. Thus, in this process, ECN brokers became particularly popular. What is different with them? ECN brokers are financial experts that give their clients direct access to financial markets through electronic communications networks (ECNs). They are quite efficient, convenient, and fast while not including ‘middlemen” between the two sides.

Yet, their main trait is being utterly transparent. Nigeria is quite a corrupt nation, thus, the ability to see through every transfer and operation is a major asset. Transparency is crucial for many in this nation, but ECN brokers are often quite expensive.

Nevertheless, a soaring number of people are using ECN brokers to safeguard their future amid the global crisis. Such brokers, unlike others, are not allowed to trade against their clients, adding to the safety rank. Moreover, they usually charge fixed commissions which are rather attractive for many individuals.

Now, considering the growing demand as a result of the oil crisis, Nigeria’s ECN brokers are trying to make most out of the current situation. Some of them have already increased one-time commissions sometimes to unreasonably high rates. Despite this, they are not reporting the fall in demand following the increase. However, no one knows if the price will remain at this rate after the crisis. This would be highly unlikely as ECN brokers are much more expensive than regular ones and high prices would not sustain their business during the normal demand period.

However, others are doing the complete opposite, making their service more flexible and inclusive in an attempt to attract even more customers. Many in the industry are saying that this approach could be more liquid and stable for brokers during the crisis.

News

Rivers DPOs Receive Awards For Outstanding Performance In Crime Prevention …As Students, Media Group Honour CSP Worgu, CSP Yusuf

Published

2 days ago

August 17, 2026

The Tide

Two Divisional Police Officers (DPOs) in Rivers State have been honoured by separate groups for their contributions to security, crime prevention and improved community-police relations in their respective areas of responsibility.

The beneficiaries are the DPO of Afam Police Division, CSP Endurance Worgu and his counterpart at Oyigbo Police Division, CSP Bello Yusuf.

CSP Worgu was honoured by a group of students under the aegis of Rivers State Graduate Students Associations for what they described as his commitment and outstanding performance in the discharge of his duties.

The students, led by Chidi John Enyie, Esq. said CSP Worgu was selected based on his track record and status as one of the longest-serving young DPOs of Rivers State origin.

According to the group, CSP Worgu has made significant contributions to the protection of lives and property in the area since assuming office following the #EndSARS period.

The students said they were particularly impressed by the improvement in community-police relations under his leadership, noting that professionalism had remained a key feature of his service.

Enyie represented by Comrade Briggs Soku, said the students community was pleased to identify with a Rivers indigene who had distinguished himself in the police force.

He said the students considered it necessary to encourage and celebrate CSP Worgu because of his achievements as a young Rivers man excelling in a profession that many people from the state were often reluctant to join.

Receiving the award at his office in Afam, CSP Worgu expressed gratitude to God and the students for finding him worthy of the honour.

The DPO said the recognition had boosted his morale and encouraged him to sustain his efforts towards maintaining peace and security in the area.

He said he least expected the honour, particularly because it came from the students, adding that the recognition would further motivate him to serve the people better.

CSP Worgu assured residents of Afam that the police would sustain the existing peace in the area.

He appealed to members of the public to support the police by providing credible and timely information, stressing that useful information from residents would make the job of security personnel easier.

Meanwhile, the Ikwerre/Etche Media Association has also honoured the DPO of Oyigbo Police Division, CSP Bello Yusuf, for his efforts in tackling criminal activities in the area.

The media group presented the award following the swift tracking and arrest of five suspected kidnappers who had allegedly terrorised residents of the Kom-Kom axis and other parts of Oyigbo.

The group commended CSP Bello for what it described as his determined efforts to restore confidence and security in the affected communities, particularly Kom-Kom and Obeama.

According to the group, the arrest of the suspects demonstrated the DPO’s commitment to tackling criminality and safeguarding residents.

The media association said residents had received the development with relief, noting that the police action had sent a strong message to criminal elements operating in the area.

Responding, CSP Yusuf appreciated the group for the recognition and reaffirmed that there would be no room for criminality in Oyigbo.

He also commended the media for its role in disseminating credible information to the public, saying the media had remained supportive of the police in the fight against crime.

CSP Yusuf warned criminal elements operating in Oyigbo to leave the area or be prepared to face the full weight of the law.

He assured residents that the police would continue to pursue criminals and work to dismantle their hideouts, regardless of where they might be operating.

News

College Of Bishops Endorses Tinubu, APC Candidates For 2027 Polls

Published

2 days ago

August 17, 2026

The Tide

The 5000 Achievers Christian Forum and Colleges of Bishops, Archbishops and Apostles, a Christian interdenominational organisation, has endorsed President Bola Ahmed Tinubu and all candidates of the All Progressives Congress (APC) in Rivers State for the 2027 general elections.

International President of the forum, Archbishop Lucky Aroh, disclosed this during the ordination and consecration of three new Bishops, as well as an award ceremony held in Port Harcourt.

Aroh said the performance of the APC-led Federal Government had endeared the party to the organisation, prompting the forum to declare its support for President Tinubu and other APC candidates in Rivers State.

He said the forum would support all APC candidates in the state during the 2027 elections and urged Nigerians to vote for the party.

Aroh, who is also the General Overseer of Caring Peoples Church, Port Harcourt, charged the newly consecrated Bishops to see their new positions as a great responsibility and dedicate themselves to the advancement of the kingdom of God.

He cautioned them against conduct capable of bringing their offices into disrepute, stressing that their activities would be closely watched by members of the public.

“As Bishops, the eyes of the public are on your activities. You must therefore conduct yourselves in a manner worthy of your calling,” he said.

Also speaking, the International Coordinator of the forum, Bishop Saint Robinson, urged the newly consecrated Bishops to work diligently towards winning souls for the kingdom of God.

Robinson, who was the guest speaker at the event, stressed that the activities of Bishops must at all times be guided by godly principles.

He also called on members of the church to support and cooperate with the newly consecrated Bishops in the discharge of their responsibilities.

The Secretary of the College, Apostle Elizabeth Ayadi Abaye, said the organisation was established to advance the kingdom of God and promote spiritual development.

According to her, the forum has organised several crusades, conferences, prayer meetings, ordinations, consecrations, enthronements, empowerment programmes and other spiritual development activities across the country as part of efforts to win souls for Christ.

Abaye said the organisation has members across the world and disclosed that more programmes had been scheduled to promote the spiritual development and wellbeing of humanity.

The three Bishops consecrated at the ceremony were Prince Alban Chike, Testimony Omenihu Shedrach and Prince Ifemena.

Among those honoured at the event were the Chairman of the Community Development Committee (CDC), Abali Community, Port Harcourt City Local Government Area, Manuchimso Prince Lemmy Wopara, and Clifford Oko Jaja, Coordinator of the 5,000 House-to-House for President Tinubu.

By: John Bibor

News

Police Arrest Fake Soldier, Others For Armed Robbery, Kidnapping

Published

2 days ago

August 17, 2026

The Tide

The Rivers State Police Command has arrested a 49-year-old suspected fake soldier, Andrew Atausi, and several other suspects in connection with various criminal activities, including kidnapping, armed robbery, cultism, one-chance robbery and the alleged murder of police officers.

The State Commissioner of Police, CP Olugbenga Adepoju, disclosed this in Port Harcourt, recently during a press briefing at the Command Headquarters, where he said the arrests formed part of the operational achievements recorded by the Command between June and August 2026.

Adepoju said Atausi was arrested on August 10 by police operatives along Ada George, Port Harcourt, while dressed in military uniform and driving a Toyota Hilux painted in Army colours.

The Commissioner said investigation revealed that Atausi was not a member of the Armed Forces, adding that he was suspected to be a serial car snatcher, with three suspected stolen vehicles recovered from him.

He said the recovered vehicles included three Toyota Hilux vehicles without registration numbers and a Toyota Corona Premio with registration number BNY 380 ES, noting that the chassis and engine numbers of the vehicles had allegedly been tampered with.

Adepoju added that an axe and military accoutrements were also recovered from Atausi, as investigation continued into the circumstances surrounding the vehicles and other items recovered from him.

On the June 29 attack on police officers at Aluu Division, the Commissioner said three members of the gang allegedly responsible for the incident had been arrested by operatives of the Violent Crime Response Unit, VCRU-AKU.

The suspects, identified as Maduabuchi Emeka, 34, alleged gang leader; Doctor Chinedu Owhor, 42, and Kamachi Joe, 28, alleged armourer, reportedly led operatives to their hideout at Omagwa where two AK-47 rifles stolen during the attack were recovered.

Adepoju recalled that two police officers were killed during the Aluu attack, while others were wounded and one officer had his leg amputated, stressing that efforts were ongoing to apprehend the fourth suspect.

On kidnapping, the Commissioner said five members of a suspected kidnapping syndicate were arrested in Oyigbo Local Government Area, adding that they allegedly confessed to operations in Kom-Kom, Railway, Obeama and Afam communities.

He said two other suspects from the same network, Anele Ogbogu, 35, alleged to be the gang’s armourer, and Kenneth Eke, 38, were arrested on July 27, with one AK-47 rifle and one SMG rifle recovered.

The Commissioner further disclosed the arrest of suspects in connection with alleged firearm offences, armed robbery, cultism and one-chance robbery, with firearms, ammunition and other exhibits recovered during the operations.

Adepoju assured residents that the Command would sustain intelligence-led, proactive and community-oriented policing in collaboration with other security agencies, while urging members of the public to continue providing credible information that would assist the police in combating crime across Rivers State.

By; King Onunwor