By Tony Obiechina Abuja

The Deputy Governor, Corporate Services, Central Bank of Nigeria (CBN), Emem Usoro, has said the bank recapitalisation exercise being implemented by the apex bank is a critical step towards achieving Nigeria’s ambition of building a $1 trillion economy.

Usoro stated this at the opening session of the 36th edition of the Finance Correspondents Association of Nigeria and Business Editors (FICAN) seminar held in Abuja on Monday.

The event had as its theme “Banking recapitalisation towards a $1tn economy.”

The CBN had announced an upward review of Nigeria’s minimum capital requirements for commercial, merchant, and non-interest banks.

The minimum capital base for commercial banks holding national authorisation is N200bn, and for those with regional authorisation, it is N50bn. Merchant banks will also require a minimum capital requirement of N50bn, while non-interest banks holding national and regional authorisations must adhere to new minimum requirements of N20bn and N10bn, respectively.

Usoro said, “As you may know, the global financial system and architecture have assumed a new dimension even before the new administration of Donald Trump in the United States of America. Globalisation has broken the limits of financial flows, and investors have inadvertently taken full advantage of the opportunities.

“However, countries and their financial systems must be prepared and ready to utilise opportunities created by financial globalisation through appropriate policy support and actions.

“As you are aware, the Nigerian banking system has also undergone reform, including bank recapitalisation and consolidation exercises. The 2004 banking sector consolidation and recapitalisation exercise, which set the limit of ₦25bn minimum capital fees for banks, brought the banks from 89 to 25. It was a noble idea that the Central Bank of Nigeria implemented in line with the emerging developments at that time.

“As we work towards building a $1tn economy, we must consider the recapitalisation of our banks to be able to fund, finance, and power the economy and favourably compete with its peers globally.

“We should particularly pay significant attention to bank recapitalisation to ensure that our banks are strong, resilient, and stable enough to carry out financial intermediation and the much-needed financing of development projects and programmes.

Although Usoro admitted that building a $1tn economy is not an easy task, she added, “it should require careful planning, robust and clear policy direction, dutiful implementation, and a wide commitment to stakeholders that will galvanise the various sectors of the economy.”

The deputy governor pointed out that discussions at the seminar, which include regulatory, industry, and media perspectives, are crucial in charting the way forward.

“As we aspire to build a $1tn economy, all hands must be on deck to achieve this. This gathering is essential to bring to the fore the bank’s effort and policy direction.

“The push for the capitalisation of banks will no doubt improve the strength and health of the financial system, deepen financial intermediation, and promote healthier competition that will strengthen our payment system.

“Therefore, it is my sincere expectation that at the end of your deliberation at this seminar, participants will better appreciate the rationale and ideas behind the goal of attaining a one trillion economy and its operational mechanism.”

By Johnson Eyiangho, Abuja

Governors elected on the platform of the Peoples Democratic Party (PDP), yesterday unanimously resolved not to join any coalition or merger as the 2027 elections approach.

The PDP Governors’ Forum meeting, held in Ibadan, the Oyo State capital, was attended by key governors, including Bala Mohammed of Bauchi, Peter Mbah of Enugu, Agbu Kefas of Taraba, Dauda Lawal of Zamfara, Seyi Makinde of Oyo, Caleb Mutfwang of Plateau, Umaru Fintiri of Adamawa, Ademola Adeleke of Osun, and Douye Diri of Bayelsa.

Governors Sheriff Oborevwori of Delta and Umo Eno of Akwa Ibom were represented by their deputies.

In a communiqué read by the Governor of Bauchi State and the forum’s Chairman, Bala Mohammed, the forum noted the “Nationwide speculations about possible mergers of parties, groups, and/or associations” and resolved that “The Forum will not join any coalition or merger.

Equally, the forum emphasised that “The PDP as a major opposition party, welcomes any parties, persons, or groups that are willing to join the party with a view to wrestling power and enthroning good leadership in 2027.”

The governors reiterated their positions regarding the party’s national secretary, stating, “The Forum reiterates its position taken in Asaba regarding the National Secretary of the party.”

They recommended that the deputy secretary temporarily act as national secretary “Pending the nomination and ratification of a substantive secretary from the Southeast zone at its next meeting.”

The communiqué also expressed solidarity with the suspended Governor of Rivers State, Siminalayi Fubara, stating, “We restate our commitment to stand with him until the end amid the challenges posed by the declaration of a state of emergency in his state.”

Addressing the worsening security situation in the country, particularly in Borno, Katsina, and Edo States, the forum described as alarm, stating, “The Forum finds alarming the worsening security situation in the country.”

The PDP governors called for a “review and reorientation of priorities and strategies,” emphasising the need for a bottom-up approach to tackle security breaches effectively.

They condemned the recent attacks in Plateau State, stating, “we extend our condolences to the government and people of the state, especially those who lost lives and property during this unfortunate mishap.”

Looking ahead, the PDPGF announced plans to hold a meeting on May 27, 2025, to establish a zoning committee.

The committee will consist of Governor Douye Diri as Chairman, Governor Dauda Lawal as Vice Chairman, and Governor Caleb Mutfwang as Secretary.

“This committee will address party office allocations ahead of the convention scheduled for August 28-30, 2025, in Kano.”

The forum, however, expressed gratitude to the host governor, ‘Seyi Makinde, stating, “The Forum expresses its gratitude to the host Governor, the government, and the good people of Oyo State for their hospitality.”

From Jude Dangwam, Jude Dangwam, Jos, Mike Odiakose, Abuja

No fewer than 51 victims of the Sunday midnight attacks on Zikke and Kimakpa villages of Bassa local government area of Plateau State, were laid to rest in a mass burial yesterday with several others injured.

A source within the community who spoke on condition of anonymity disclosed said; “So far, a total of 51 bodies have been recorded while several others sustained injuries from the attack launched by armed herdsmen in Zikke and Kimakpa villages of Bassa LGA mass burial ongoing.

The source also stated that the information available revealed that the armed Fulani militants, voraciously attacked Kimakpa and Zike villages of Kwall in Iriggwe Chiefdom   at about 8:00pm on Sunday.

The unfortunate development was carried out when the state is yet to recover from the attacks meted out on villages of Hurti Community, Bokkos LGA on April 2.

The National body of Berom Youths Moulder-Association through its President, Dalyop Solomon Mwantiri Condemned in its entirety, the continuous massacre of Plateau residents and communities as recently recorded in Hurti village of Bokkos LGA, Kimakpa, Zike and Kakpa villages of Kwall District,  Bassa LGAs by armed men suspected to be Fulani militants.

They called on the federal government to set in motion the necessary measures towards not only the declaration of Fulani militants as terrorists group, but also come up with a legislation that would allow Nigerians acquire arms for exercise of self-defense under the monitoring of the Nigerian Police Force otherwise the sanctity of human life would remain a mirage to our sensibility.

The President through his Secretary General Bature Iliya Adazaram noted that the federal and state governments should redouble their efforts in ending the carnage.

Meanwhile the Plateau State government through the commissioner of information and communication Rt. Hon. Joyce Ramnap described the killings as one too many reassured citizens of government determination to get to the root of the wanton killings and destruction of means of livelihood of citizens of the state.

75 Persons Kill in Five Months, Says IDA

The leadership of Irigwe Development Association (IDA) has decried yet another massacre at Zike hamlet of Kwall, Bassa LGA of Plateau State at about midnight of Sunday 13th April, 2025.

The National Publicity Secretary (IDA), Sam Jugo in a statement yesterday evening said witnesses recalled sporadic gunshots were heard from multiple locations and by morning of Monday, 49 corpses were recovered.

This he said is aside from persons injured which have not yet been ascertained. “The perpetrators, according to the residents, were Fulanis.

Jugo noted that there were rumours before the attacks and the security stationed in the area were notified but yes the attackers had their way.

“We spoke with the Sector 3 Commander, he confirmed this allegation and mobilized his men to Kwall but alas the carnage still took place.

“This is in addition to the 9 persons killed last week. From December 2024 to date the Irigwe nation has recorded not less than 75 persons killed.

“This assault on a peace loving people on their motherland is very provocative, vexing and undeserving”, he noted

The Publicity Secretary maintained that what is baffling residents most is the intent of the Drone Station in Kwall which should have been deployed for reconnaissance when rumours filtered in.

“We use this medium to call on the Federal Government and the Plateau State governments to intervene before the already precarious situation snowballs into a major humanitarian catastrophe.

“Once again, we appeal to all Irigwe natives and the general public to remain calm during this mourning period, trusting that the security will do the needful to restore the confidence of the people.” The sociocultural organization stated.

Mutfwang, Obi Call for Decisive Measures to End Bloodbath

Plateau State Governor, Caleb Manasseh Mutfwang, and former Labour Party presidential candidate, Peter Obi, have condemned the wave of killings ravaging Bokkos Local Government Area and other parts of Plateau State, calling on the FG to take decisive measures to end the bloodshed.

In a statement issued by the Director of Press and Public Affairs to Governor Mutfwang, Gyang Bere in Jos described the ongoing attacks as a “deliberate and orchestrated genocide” targeting indigenous communities,

According to the statement, both leaders issued a strong appeal for urgent national intervention when Peter Obi paid a condolence visit to Jos.

Speaking with visible anguish, Peter Obi lamented: “Nigeria is not at war, yet innocent citizens are being displaced from their ancestral homes.

“We have no justification as a nation to be enduring this. People must be able to live in peace, farm their land, and feel secure. This is the most basic responsibility of any government.”

Mutfwang praised Obi for his empathy and personal sacrifice in traveling to Plateau State to commiserate with the grieving communities.

The Governor did not hold back in his assessment of the situation: “What is happening in Bokkos is nothing short of genocide. This is not a matter of political correctness. It is a systematic and brutal attempt to displace our people.

Both leaders stressed the need for a unified national response to end the carnage and restore the sanctity of human life in Nigeria.

They warned that the continued normalization of such violence poses a grave threat to the country’s unity and long-term stability.

In a moving revelation, Governor Mutfwang disclosed that Obi had previously donated a borehole to the people of Bokkos, an act of kindness that was quietly done but deeply felt.

After signing the condolence register, Obi urged Nigerians to resist any attempt to normalize terror and displacement.

Demonstrating his commitment beyond words, Obi donated N10 million to the OLA Hospital School of Nursing in Jos, encouraging the institution to continue producing professionals who add value to the nation.

He also visited and offered support to internally displaced persons from the Bokkos attacks, currently sheltered at St. Thomas Apostle Catholic Church.

Tinubu Charges Mutfwang to Resolve Communal Issues

President Bola Tinubu has expressed profound sorrow over the recent bloodshed in Plateau State, a tragedy that has claimed the lives of over 40 individuals.

In a statement yesterday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President strongly condemned the violence and extended his sympathies to Governor Caleb Mutfwang, the state government, and the people of Plateau while urging him to summon the necessary political will to resolve the crisis and establish enduring peace.

In his call for harmony among the people of Plateau State, Tinubu emphasised the importance of love and unity beyond religious and ethnic lines. He encouraged community, spiritual, and political leaders within and beyond the state to unite and end the cycle of retaliatory attacks that have made life unbearable for affected communities.

“The ongoing violence between communities in Plateau State, rooted in misunderstandings between different ethnic and religious groups, must cease,” President Tinubu asserts.

“I have instructed security agencies to thoroughly investigate this crisis and identify those responsible for orchestrating these violent acts. We cannot allow this devastation and the tit-for-tat attacks to continue. Enough is enough.

“Beyond dealing with the criminal elements of these incessant killings, the political leadership in Plateau State, led by Governor Caleb Mutfwang, must address the root cause of this age-long problem. These problems have been with us for more than two decades. We can no longer ignore the underlying issues. It is time to tackle them fairly and find a lasting solution. I have discussed these problems with the governor over time and offered suggestions for lasting peace.

“The Federal Government remains committed to supporting Governor Mutfwang and the Plateau State government in promoting dialogue, fostering social cohesion, and ensuring accountability—crucial steps towards permanently resolving the conflict in Plateau,” the President said.