By Tony Obiechina, Abuja

Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso has said the new capital requirement for banks operating in the country will enhance their capacity to drive financial inclusion.Cardoso stated this at the second International Financial Inclusion Conference themed, Inclusive Growth: Harnessing Financial Inclusion for Economic Development, held in Lagos on Tuesday.

He said, “In line with its efforts to deepen financial inclusion, the Central Bank of Nigeria recently introduced new minimum capital requirements for banks. This strategic move ensures that banks are well-capitalised, enabling them to take on greater risk, particularly in underserved markets.“With a stronger capital base, banks can provide more loans and financial products to MSMEs, rural communities, and other vulnerable segments that have previously struggled to access formal financial services.“This policy not only strengthens financial stability but also serves as a catalyst for inclusive growth. By enabling banks to extend more credit to MSMEs, we enhance job creation and productivity. Furthermore, with increased capital, banks can invest in technology and innovation crucial for driving digital financial services such as mobile money and agent banking.”The governor added that these technologies are key to breaking down geographic and economic barriers, bringing financial services to remote areas.“Financial inclusion has the potential to unlock significant economic growth, particularly through the empowerment of small and medium-sized enterprises (SMEs), women, and other vulnerable segments of the population. SMEs are responsible for over 80 per cent of employment in Nigeria, yet many struggle to access the credit needed for expansion.“Financial inclusion for SMEs is essential to unlocking the full potential of this sector, and the Nigerian government remains committed to supporting these enterprises. Similarly, women play a critical role in driving inclusive growth. Research shows that when women are financially empowered, they reinvest in their families and communities, creating broader social and economic benefits. Let’s clap for the women.“Yet women in Nigeria are disproportionately excluded from the formal financial system. The Central Bank of Nigeria, recognising this, has made significant strides in promoting financial inclusion for women and youth, particularly through frameworks aimed at closing gender gaps and regulatory support for digital platforms that offer easier access to financial services for these vulnerable groups,” Cardoso stated.The CBN governor further affirmed that the adoption of digital payment channels, leveraging mobile technology, remains one of the most transformative tools for financial inclusion.

From Jude Dangwam, Jos

Plateau State Police Command has dispelled rumour of an explosive device planted beside the old Jos University Teaching Hospital (JUTH), Jos Plateau State.The story unsettled the Central Business Area of Taminus in the early hours of yesterday.The Commissioner of Police, Emmanuel Adesina alongside a team of Anti Bomb Squad who was at the point said, “In the early hours of today the 12th day of November 2024 at exactly 08:20am, the Plateau State Police Command received a report of a shallow dug hole suspected to be planted with an Improvised Explosive Device (IED) at Murtala Mohammed Way beside Old JUTH fence which created panic among the residents of the state.

”Upon receiving this report, I immediately ordered the Area Commander Metro and the Officer in Charge of the Command’s Explosive Ordnance Disposal (EOD) Unit (Anti-Bomb Squad) to mobilize a team of bomb technicians to the scene in collaboration with the Divisional Police Officer (DPO), C Division to assess the situation and take necessary actions.”On reaching the scene, the area was immediately cordoned and our EOD Team began examination.“Upon conclusion of the examination, the hole was found to be safe and free of any explosive devices.”Similarly, the Plateau State Governor, Caleb Mutfwang condemned the rumour which he said was deliberately aimed at causing confusion among the peace loving citizens of the state.The governor in a statement by his Director of Press and Public Affairs, Mr Gyang Bere clarified, “The alarm was a false one, triggered by a group of individuals who misinterpreted a heap of polythene bags as a potential threat. Their report led to a wave of fear and panic among citizens in the area.”Mutfwang explained that security agencies, including the anti-bomb squad from the Plateau State Police Command, responded swiftly, conducting a thorough cordon and search operations on the scene.After an exhaustive inspection, no evidence of any explosive device was found.The governor urged all Plateau State citizens to remain vigilant and act as responsible ambassadors of the state by upholding its reputation and rich heritage.He assured the public that his administration is committed to ensuring enduring security across Plateau State, working tirelessly to restore peace and stability to the region.Mutfwang called on citizens of the state to channel their energy in supporting government’s mission for a sustainable peace and prosperous state full of opportunities.He encouraged residents, especially those near Terminus Market to continue go about their daily activities without fear and to promptly report any suspicious occurrences to security personnel for quick action.

By Mike Odiakose, Abuja

Newly-sworn in Governor of Edo State, Senator Monday Okpebholo yesterday said his administration will probe the circumstances that led to the non-inauguration of elected 17 Edo House of Assembly members during the administration of his predecessor in 2019. Speaking in Benin City during his inauguration, kpebholo described as “regrettable” the delay and refusal by the previous administration to swear-in three judges recommended by the National Judicial Council (NJC) and gave a matching order to the Chief Judge of Edo State to “look into the matter”.

Okpebholo said his administration would work closely with other arms of government in the state for the common good of the people.He said, “To the Edo State House of Assembly, our people have tasked us to work together for the common good of all. My administration is ready to work with you to strengthen institutions of governance and accelerate development.“Recall that on 17th June 2019, 14 elected members of Edo state House of Assembly were denied inauguration into the 7th Assembly. It was a big blow to our democracy.“My administration is setting up a panel of inquiries to investigate the remote causes of that incident so as to avoid future occurrence. This is very imperative because the legislative arm of government is an essential component for the sustenance of democracy.“Under the doctrine of Separation of Powers, the judicial arm of government shall be strengthened to administer justice; fairly and promptly.“The delay and refusal by the previous administration to swear in three judges recommended by the National Judicial Council is indeed regrettable. The Chief Judge will look into this and take necessary actions without delay.”Okpebholo listed security, infrastructure and road development, affordable healthcare, water and food sufficiency, and value-driven education across the state as top priorities.He said the welfare of “our citizens is top priority for us. To achieve this, we shall implement programmes carefully outlined in my five-point agenda, designed to grow robust economic growth and improve the lives of our people.”While hailing Edo people for their unwavering support, the governor promised not to betray them.“I want to use this opportunity to thank you for your peaceful conduct during the 21st September, 2024 Governorship Election.“Today, you have officially given me the mandate to preside over our dear state as governor for the next four years.“We will not betray this confidence you have reposed in me and the Deputy Governor, Rt. Honourable Dennis Idahosa,” Okpebholo said.While bemoaning incessant cases of kidnapping and other violent crimes, Okpebholo said his administration would be firm in dealing with criminals and improve the security of Edo State.He said, “For a long time now, our people have become victims of kidnapping and other violent crimes. To end this ugly situation, we will be firm in dealing with criminals and improve the security of our land so that farming and other business activities will flourish again.”On road construction and infrastructure development, he said, “The deplorable condition of our roads has made it difficult for people to move from one part of the State to another.“Our policy to develop road infrastructure is targeted at constructing roads, drainages, and bridges to ease transportation for all. We shall immediately commence work to make the roads passable again.“We are also ready to partner with the federal government, the private sector, non-governmental organisations, those in the diaspora, and other stakeholders, to develop our State across all sectors.”He said his administration would support small businesses and market women with soft loans.“Our teeming youthful population will not be left out. We shall support them to acquire relevant skills for self-empowerment. My administration shall immediately swing into action to recruit teachers and rebuild the deplorable classrooms. Tertiary education will be strengthened in many ways, too, to ensure quality education.“Fellow citizens, my administration is ready to link communities that have not yet been connected to the national grid to ensure that they have electricity.“Our traditional institutions shall be given the necessary support to play their role as custodians of our rich cultural heritage.“It is in recognition of this that my administration shall support the decision of the Federal Government to uphold the Oba of Benin as the exclusive owner of the returned artifacts that were looted away by British Colonial Forces during the Benin Massacre of 1897,” he said.Meanwhile, Okpebholo has announced Barrister Musa U. Ikhilor as Secretary to State Government (SSG), and Dr Cyril Adams Oshiomhole as Commissioner for Health.Dr. Oshiomhole is son of former governor and now Senator, Adams Oshiomhole.He nominated Hon. Samson Osagie as Attorney General and Commissioner for Justice.The nomination of Osagie and Oshiomhole will be confirmed by the Edo State House of Assembly when they are forwarded by the governor.