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CBN Urged To Save Indigenous Businesses From Total Collapse – ECCIMA

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CBN

CBN Urged To Save Indigenous Businesses From Total Collapse – ECCIMA

CBN urged to save indigenous businesses from total collapse – ECCIMA. CBN spokesperson Hakama Ali said the apex bank had continued to address pockets of macroeconomic challenges confronting the Nigerian economy.

The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has urged the Central Bank of Nigeria (CBN) to intensify efforts to save indigenous businesses and the industrial sector from total collapse.

The ECCIMA president, Odeiga Jideonwo, made the call on Saturday at the CBN Special Day at the ongoing 36th Enugu International Trade Fair.

“We are not unmindful of the various interventions of the CBN to support and encourage the growth of businesses in various sectors of the economy.

“However, we counsel that more sustainable strategies and intervention schemes should be adopted,” Mr Jideonwo said.

The president expressed concern over the apex bank’s consistent and recent increase in interest rates in an aggressive push to manage the nation’s inflationary pressure and liquidity.

“The high interest rate regime will likely have adverse effects on the accessibility of bank credit by businesses.

“There is no doubt that access to credit and cost of funds have relationships with increasing or decreasing levels of productivity, GDP and stabilising our economy.

“Be that as it may, we hope that these policies of the bank are in tandem with the renewed hope mantra of the federal government,” he said.
Mr Jideonwo commended the bank’s management for reconsidering its decision to suspend attending trade fairs enforced in 2023.
The president said the current decision to reactivate and sustain the use of trade fair platforms in disseminating information and creating a wider awareness of its operations would help the public directly interface with the bank.
In an address, the acting director of the corporate communications department at CBN, Hakama Ali, said the CBN had continued to address pockets of macroeconomic challenges confronting the Nigerian economy.

Ms Ali said the apex bank had ensured the banking system remained robust and resilient.

According to her, in the same vein, the bank is also closely monitoring the ongoing recapitalisation of the banking sector to ensure the injection of quality capital as envisaged in the framework.

She said, “The Nigerian payments system has continued to be reckoned with globally. CBN has remained resolute in ensuring effective and efficient payment system infrastructure.

CBN

CBN

“This has accelerated the financial inclusion drive and broadened payment possibilities for Nigerians.
These payment platforms have made financial transactions more seamless, cost-effective and accessible to a wide range of users.”

The director said the apex bank achieving an impactful industrial development for global recognition was premised on a tripod.

“This includes robust financial system fundamentals, foreign exchange market stability, and strong collaboration between the monetary and fiscal authorities.

“The bank’s efforts in these directions are already yielding the desired results.

This has resulted in a significant increase of inflow in foreign direct and portfolio investments and positive trade balance in recent times,” Ms Ali said.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

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Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

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