Business
29 Suspended TIMARIV Staff To Face Panel, Today
Twenty-nine erring officers of the Rivers State Road Traffic Management Authority (TIMARIV) including the Chairman of the Amalgamated Union of Public Corporation, Civil Service Technical and Recreational Service Employees (AUCPTRE), TIMARIV branch, Comrade Igenewari Ketuphel, who were suspended by the management, will face a disciplinary panel from today at the zone six office of the agency.
According to a statement by the Chief Press Officer of TIMARIV, Nimi Brown-West and made available to The Tide Correspondent in Port Harcourt said the officers were suspended following their misconduct and insorbodination.
Brown-West said their suspension and subsequent in-house panel trial is in line with Section 3 (030301), Section 4 (030401 and 030402 of the Public Service Rules 2009.
According to him, those staff of TIMARIV placed under indefinite suspension is to enable the investigation and disciplinary panel to carry out its duties without fear or favour and according to the rules and regulations of the organisation.
Those to face the panel are Brown Maxwell Ibianga, Osuamkpe Amofien, Edamkue Victor, Jack Soboma, Oglekwu Shalom, Amadi Prince, Apiafi Dienye, Precious Dimiari, Koko Edward, Igenewari Ketuphel Akari, Ogolo Loveday, Otaji Pedro Nelson, Ogan Joshua Obiasosa and Bobmanuel Tiekor Prince.
Also to eppear before the panel are Okpukpo Inyie Innocent, Augustine, Osayande, Fubara Lauretta, Amadi Patience Ihuoma, Sodienye Tolofari, Iwu Chisa Roseline, Benibo Yeokon, Ben Faithful, Ackoriogie Osahon Dennis, Wokocha Oghene, Lilly-West Koridinbo, Macdonald Membere, Harry Sokeipirim and Christiana Kala-Otaji.
It would be recalled that some staff of TIMARIV protested to the Rivers State Government House on October 1, 2014, demanding that they be integrated into the mainstream of the Rivers State Government payroll in order to ensure regular salaries, as well as other problems plaguing the Authority.
Collins Barasimeye
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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NDDC Intensifies Women Empowerment Initiative Across Niger Delta
