Business

Bayelsa Pays N6bn On Contracts …As NYSC Loses 8 Members

Published

14 years ago

June 15, 2012

Bayelsa State Government, has released the sum of N6 billion to three construction companies for the completion of the three senatorial road projects in the state.

At the presentation of the cheques in Yenagoa, Governor Seriake Dickson, urged the contractors to give the people quality jobs.

The governor also signed two bills passed by the state House of Assembly into law.

The presentation of the N6 billion to the contractors marked the commencement of infrastructural development under the new administration in Bayelsa State.

The breakdown of the funds shows that N2billion was released to Julius Berger for the construction of Yenagoa-Oporoma road, representing the Central Senatorial road project, N2.5billion for the construction of the Sagbama/Ekeremor road in the West Senatorial road to Setraco and N1.5billion to China Construction and Company, for the Etegwe–Tombia road.

The Commissioner of Works and Infrastructure,Mr.Lawrence Erudkapo,said the three multinational construction companies were carefully selected based on their proven integrity and that the Etegwe-Tombia road would be built with eight bridges.

In his remarks, Governor Seriake Dickson,said the construction of the roads would open up the riverine communities for development.

He said the government was committed to transforming Bayelsa State.

The Governor also signed two bills recently passed by the State House of Assembly into law.

The new laws are the Bayelsa State College of Arts and Science Re-Establishment Law 2012 and Bayelsa State Thanksgiving Day 2012.

Governor Dickson said the College of Arts and Science would now take-off from the Science Secondary School along Okaka Road after an upgrade of facilities.

He renewed the commitment of the present administration to develop the education sector.

Earlier, while presenting the bills in company of other lawmakers,the Speaker of the State House of Assembly, Mr.Kombowei Benson,said the legislature would work hard to support the executive arm to succeed in its task to transform the state.

Meanwhile, the National Youth Service Corps (NYSC) in Delta State has said that five of its corps members who served in the 2011 Batch ‘B,’ lost their lives during the service year.

The state Coordinator of the scheme, Mrs Vivian Omeruo, disclosed this yesterday in Asaba at the passing out parade of 2011 Batch B corps members.

She, however, said that their deaths, which occurred “through various unfortunate circumstances, were heroic as they died in active service”.

Omeruo also said that 25 corps members were pencilled down for various sanctions ranging from repeat of service to extension of service for various disciplinary conducts.

She said that out of the 25 corps members, nine who absconded would repeat the service year.

The coordinator said the names of the nine corps members had already been forwarded to the National Directorate of the NYSC for ratification.

She said the remaining 16 would have extension of service for periods ranging from two weeks to four months.

In Jigawa, NYSC Coordinator, Mr Ishaya Dede, expressed satisfaction that corps members posted to the state were safe.

He said that recently, 200 corps members voluntarily re-deployed from neighbouring states to Jigawa because of the peace enjoyed in the state.

“Jigawa is a small state, yet we have more corps members now than Kano and some other states in the North.

“This is because some of them were re-deployed here for safety, good welfare and better facilities in our orientation camp,” he said.

Dede said that out of 1,500 corps members, who passed out, 12 of them received the state Governor’s award, while names of 30 others, who contravened the NYSC Act had been forwarded to the headquarters for further action.

In his remarks, Governor Sule Lamido of Jigawa lauded the contributions of the NYSC in the state to the campaign against HIV and AIDS, polio virus and mass illiteracy among others.

In Bayelsa, the state NYSC Coordinator, Mr Abdulrasheed Abiodun, said three corps members died during the service year, while the services of 12 others were extended for truancy.

Meanwhile, 30 out of the 906 corps members, who served in Gombe State were honoured with awards, according to Mr Teryima Igyuse, the state Coordinator of the scheme.

He listed the award to include 20 certificates of merit and 10 certificates of commendation for participation in community development service.

He said the best female among the award winners received the First Lady Hajiya Adama Dankwambo’s award.

Igyuse said four corps members, who absconded from service would repeat the service year, while the service of two others would be extended.

Business

Wealth Creation: GCPBS Convenes Strategic Investment Workshop In PH

Published

2 days ago

April 20, 2026

The Tide

In a significant move aimed at strengthening financial literacy and promoting sustainable economic growth, the Alumni Association of the Garden City Premier Business School (GCPBS) has hosted its inaugural Annual Executive Workshop in Port Harcourt, drawing key stakeholders from across Nigeria’s financial and public sectors.

The workshop, themed “Wealth Creation through Investment in Money and Capital Markets,” held at the Corporate Residence, William Jumbo, Port Harcourt recently, brought together financial experts, policymakers, and professionals to deliberate on practical investment strategies in a rapidly evolving economic environment.

The event attracted a distinguished audience, including alumni of the institution, officials of the Securities and Exchange Commission, financial market leaders, top government functionaries, and seasoned professionals committed to advancing wealth creation initiatives in the country.

In her opening address, Chairman of the GCPBS Alumni Association, Her Excellency Dr. Mrs. Mina Tele Ikuru, charged the participants to take full advantage of the knowledge-sharing platform, stressing the importance of continuous learning and informed financial decision-making.

Also speaking, the Rivers State Head of Service, Dr. Mrs. Inyingi Brown, underscored the need for smart investment practices, noting that true wealth lies not merely in hard work but in the ability to make money work efficiently through strategic investments.

Deliberations at the workshop exposed participants to practical insights into navigating the financial markets, with experts emphasising the need for liquidity-conscious investments and encouraging the exploration of commercial papers issued by reputable corporations.

Speakers further highlighted the benefits of leveraging money market instruments such as bank deposits, while also stressing the importance of understanding market timing—knowing when to buy, hold, or exit investments—as a critical factor in achieving optimal returns.

The concept of compounding was extensively discussed as a powerful tool for long-term wealth accumulation, alongside the introduction of SWOOT—Stocks Worth Over One Trillion—with leading financial institutions identified as dominant players in Nigeria’s stock market.

Participants were also cautioned against common investment pitfalls, including the dangers of holding excessive idle cash, exposure to inflationary pressures, and the growing threat of fraudulent Ponzi schemes often disguised with unrealistic promises of high returns.

They also stressed the importance of diversification as a risk management strategy, with experts warning that failure to spread investments across asset classes could expose individuals to avoidable financial losses.

A panel session anchored by Prof. John Ohaka featured robust contributions from Barr. Bernard Ibe and Figbene Briggs, who examined critical approaches to monitoring investments and ensuring long-term financial stability.

A Financial expert, Uche Uwaleke (FCMA) provided further guidance, advocating the adoption of the DHL investment model—Diversify, Hedge, and Long-term planning—while emphasising the need for constant monitoring of market capitalisation and price indices.

The event also featured goodwill messages and the presentation of awards to deserving individuals and organisations, including Oida Energy Limited, Xenergi Limited, Aslan Resources Ltd, and Dr. Mrs. Mina Tele Ikuru, in recognition of their contributions to economic development and professional excellence, while special honours were conferred on Prof. Silver Opuala-Charles and Dr. Mrs. Inyingi Brown.

In a closing remark, Prof. Adline Ben-Chioma who summarised the key takeaways from the workshop, reiterated the importance of informed investment decisions, as ESV Okputu delivered the vote of thanks, appreciating organisers, speakers, sponsors, and participants for their roles in the success of the inaugural initiative.

By: King Onunwor

Banking/ Finance

Ripple Survey Reveals Appetite for Digital Assets

Published

7 days ago

April 15, 2026

The Tide

Cornerstone of Financial Services

A survey of more than 1 000 global finance leaders undertaken by digital payment network Ripple shows that 72% of respondents believe they need to offer a digital asset solution to remain competitive.

According to Ripple, leaders from the banking, fintech, corporate and asset management sector have made it clear that the “digital asset revolution is happening now”.

“Digital assets are quickly becoming a cornerstone of financial services, underpinned by progressive regulation, growing interest from Tier-1 banks, a steady consumer shift from banks to fintech providers, and booming stablecoin adoption,” Ripple says.

The survey was conducted in early 2026 and the findings released in March.

Stablecoin Boon or Bane?

Ripple has experienced significant success in the stablecoin sector since launching its Ripple USD (RLUSD) stablecoin in 2024.

With a market cap of $1.56 billion, it is considered a major regulated player in the market.

No doubt the platform was pleased to learn through its own survey that financial leaders were most bullish about stablecoins.

Roughly three-quarters of respondents believed they could boost cash-flow efficiency and unlock trapped working capital.

Ripple noted that finance leaders were thinking about stablecoins as more than “just a new way to execute payments”; instead, they viewed them as effective tools for treasury management.

In March 2026, Ripple began testing a new trade finance model built around RLUSD in a bid to increase the speed of cross-border payments.

The pilot initiative, developed alongside supply chain finance company Unloq [https://unloq.com], is running on the XRP Ledger inside a testing framework developed by the Monetary Authority of Singapore.

The Asian city-state is one of the platform’s biggest growth markets.

The idea behind the project is to see whether stablecoin-based settlement can streamline trade finance, too often hampered by reliance on intermediaries and slow reconciliation.

The only potential drawback is that if the initiative takes off, the Ripple to USD price could be negatively affected.

Ripple has always championed its native XRP token as a bridge asset, the “middleman” in the process of a financial institution turning dollars in the US into pounds in the UK, for example.

Ripple converts dollars into XRP and then back into pounds.

If RLUSD can do exactly the same thing, questions will be asked about XRP’s relevance.

That is a bridge Ripple will have to cross if it gets to that point.

Tokenisation Partners

Another interesting finding from Ripple’s survey is that most banks and asset managers are seeking tokenisation partners to help execute their strategies.

Some 89% of respondents said digital asset storage and custody were top priority. “Token servicing/lifecycle management also ranks highly for banks at 82%, while asset managers place greater emphasis on primary distribution at 80%,” Ripple found.

The survey also revealed that just more than half of fintechs and financial institutions want an infrastructure provider that can offer a “one-stop-shop solution”. This rose to 71% among corporate financial leaders.

Ripple attributes this to institutions and firms wanting uncomplicated, cohesive systems.

Infrastructure Rules

In its final analysis, Ripple says companies across the board are looking for partners and solutions that are “secure, compliant, battle-tested and that enable growth and execution”.

“The message is clear: infrastructure decisions made today will shape competitive positioning tomorrow.”

No surprise that this is precisely where Ripple is placing much of its focus.

Business

Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs

Published

2 weeks ago

April 10, 2026

The Tide

The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has unveiled the plans to host a major economic and investment summit aimed at attracting five billion dollars, ( N7 trillion) investments in addition to creating about 500,000 jobs over the next five years.

The Chairman of NDCCITMA Board, Ambassador Idaere Ogan, disclosed this in Port Harcourt, recently.

Ogan stated that the initiative is designed to reposition the Niger Delta as a viable destination for sustainable economic growth and development.

He explained the summit would bring together investors, policymakers, manufacturers and business leaders from within and outside Nigeria to explore opportunities across key sectors of the regional economy.

According to him, the event is expected to attract high-profile participation, with President Bola Tinubu billed as Special Guest of Honour, while the Prime Minister of Barbados, Mia Amor Mottley, is expected to deliver the keynote address.

Ogan said the summit would focus on critical sectors including agriculture, manufacturing, logistics and the blue economy, which he described as areas with significant untapped potential.

He called on state governments, development partners and private sector stakeholders to support the initiative, stressing that collective efforts are required to unlock the region’s economic prospects.

NDCCITMA chairman further stated that improving security conditions and increasing economic confidence in the Niger Delta have made the region more attractive to both local and foreign investors.

He emphasised that ongoing economic reforms at the national level have also contributed to creating a more favourable investment climate.

Also speaking, the Chairman of the Summit Organising Committee, Dr. Solomon Edebiri, said the event would prioritise the growth of small and medium-scale enterprises (SMEs) across the region.

He noted the summit would provide a strategic platform for networking, business partnership and policy dialogue aimed at strengthening the private sector.

Edebiri disclosed that findings from a recent business roundtable revealed significant untapped investment opportunities, which the summit seeks to harness through targeted collaborations.

He revealed that the event would feature exhibitions of viable projects, facilitate business-to-business and business-to-government engagements, and also promote innovations across multiple sectors.

According to him, the expected outcomes of the summit include job creation, increased industrial activity and improved livelihoods for people in the Niger Delta.

To build momentum ahead of the event, NDCCITMA said the body would embark on awareness roadshows across states in the Niger Delta, as well as in Lagos and Abuja, to attract broad participation.

King Onunwor