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Pressure for Survivial: Banks’ Borrowing from CBN Hits N52t


Banks’ borrowing from the Central Bank of Nigeria shot up by 80 per cent to N52 trillion in 2017, from N29 trillion in 2016, due to pressure to survive the impact of high interest rate regime and ceaseless liquidity mop-up, driven by the tight monetary policy of the apex bank.
To enjoy this huge liquidity lifeline, accessed through the apex bank’s Standing Lending Facility, the banks paid N40.48 billion as interest to the CBN, representing 84 per cent increase from N22 billion paid in 2016.
In sharp contrast, banks’ deposit placement with the apex bank, through its Standing Deposit Facility, fell by 15.6 per cent to N9.35 trillion, while interest earned also fell by 10 per cent to N4.27 billion in 2017.
According to analysts, the above development was triggered by the high interest rate regime, which made the CBN’s Standing Lending Facility the cheapest source of borrowing for banks, and the Standing Deposit Facility unattractive for deposit placement for banks.
Meanwhile, the above development exceeded Financial Vanguard projections for banks patronage of the SLF and SDF for 2017.
In an exclusive report published on Monday June 26, 2017, Financial Vanguard projected that banks’ borrowing from the apex bank will rise by 51 per cent to N45 trillion in 2017, while interest paid will also rise by 64 per cent to N22 billion.
Financial Vanguard also projected that banks’ deposit placement with the CBN will fall by 14.3 per cent to N15.6 trillion in 2017, while interest earned by banks was projected to rise moderately to N5.1 billion.
Banks borrowing from CBN and interest paid
According to the quarterly economic reports of the CBN, banks’ borrowing from the CBN fell by 9.6 per cent to N12.25 trillion in the first quarter of 2017 (Q1’2017) from N13 trillion in the fourth quarter of 2016 (Q4’2016).
But in the second quarter of 2017 (Q2’2017), banks’ borrowed more from the apex bank.
Their borrowings through the SLF rose sharply quarter-on-quarter by 19 percent to N14.6 trillion.
This trend, however, did not persist in the third quarter (Q3’2017) as borrowing dropped by 7 per cent to N13.6 trillion.
The borrowing further dropped by 14 per cent, quarter-on-quarter to N11.7 trillion in the fourth quarter (Q4’2017).
Interest paid by banks to the apex bank followed the same pattern.
In Q1’2017, banks paid N9.3 billion as interest to the CBN, up by 6.7 per cent, from N9.97 billion paid in Q4’2016.
In Q2’2017, interest paid by banks spiked by 47 per cent to N13.7 billion.
This increase was reversed in Q3’2017, as interest paid fell back to N9.3 per cent.
This trend was repeated in Q4’2017, as interest paid by banks fell by 14 per cent to N8.04 billion.
The above indicate that while banks’ borrowing from CBN and interest paid rose in the first half of 2017 (H1’2017), they however declined in the second half of the year (H2’2017).
Deposit placement by banks and interest earned
The CBN economic reports showed that banks’ deposit placement with the CBN through the SDF rose by 14 per cent to N3.36 trillion in Q1’2017, from N2.95 trillion in Q4’2016.
However, the deposit placement declined quarter-on-quarter, by 42 per cent and 21 per cent to N1.96 trillion and N1.54 trillion in Q2’2017 and Q3’2017 respectively.
The trend was reversed in Q4’2017, as their deposit placement spiked by 62 per cent (quarter-on-quarter) to N2.49 trillion
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Breaking: Simon Ekpa Sentenced to Six Years in Prison for Terrorism by Finnish Court


A District Court in Finland has handed down a six-year prison sentence to Simon Ekpa, a self-declared leader of the Biafra Republic Government in Exile, following his conviction on terrorism-related charges.
Ekpa was arrested on November 21, 2024, by the Finnish National Bureau of Investigation (NBI), triggering a broad inquiry into his alleged activities, including incitement of violence via social media and involvement in unrest across Nigeria’s southeastern region.
According to the court ruling, Ekpa was found guilty of public incitement to commit crimes with terrorist intent and for supporting a terrorist organization. His conduct, which spanned from August 2021 to November 2024, included the provision of weapons, explosives, and ammunition to armed groups, along with using his social media platforms to mobilize violence.
Adding to his conviction, Ekpa was found guilty of aggravated tax fraud and violations of attorneys’ regulations, further compounding the severity of the charges.
This verdict marks a significant move by Finnish and international authorities to counter separatist agitation linked to the Biafra independence movement, underscoring the criminality of inciting violence across borders.


In the light of recent insinuations, half-truths and fake information being circulated, we find it expedient to make it abundantly clear that President Bola Ahmed Tinubu’s administration has been guided, at all times, by the principles of fairness, justice, and equity in the distribution of federal government projects, appointments, and opportunities across all six geopolitical zones of our country.
Contrary to the perception being pushed in some quarters, this administration has demonstrated uncommon commitment to balanced development and inclusivity since assuming office.
The distribution of capital projects under President Bola Ahmed Tinubu is equitable. No region is playing a second fiddle or ignored. In addition to projects by various Ministries, Departments and Agencies, all six regions now have Regional Development Commissions to re-kickstart development efforts.
While the Coastal Highway courses through the South, the Badagry–Sokoto Highway, under construction, traverses majorly the North. This sense of balance runs through all the major infrastructure projects being implemented today.
Major infrastructural interventions are simultaneously ongoing across the federation—from highways and bridges to rail and power projects.
The administration has secured funding for light rail projects in Kano and Kaduna states to the tune of ₦150 billion and ₦100 billion, respectively.
The metroline projects in Lagos and Ogun States form part of the government’s effort to develop Nigeria’s light rail infrastructure. Collectively, these projects are expected to create over 250,000 jobs nationwide.
There is also a renewed push for the rehabilitation of the Eastern Corridor of the rail line from Port Harcourt to Maiduguri. In addition, over 1,000 primary health care centres have been rehabilitated across the country, underscoring the administration’s commitment to human capital and social infrastructure.
From verifiable data, the actual distribution of projects shows the Northwest as the biggest beneficiary:
• Northwest: ₦5.97 trillion (over 40% of approvals)
• South South: ₦2.41 trillion
• North Central: ₦1.13 trillion
• South East: ₦407 billion
• North East: ₦400 billion
• South West (excluding Lagos): ₦604 billion
Legacy Road Projects under President Tinubu:
1. Lagos–Calabar Coastal Highway (750 km): 175 km ongoing in Lagos, Cross River, and Akwa Ibom States.
2. Sokoto–Badagry Superhighway (1,068 km): 378 km ongoing in Kebbi and Sokoto sections.
3. Trans-Sahara Highway (465 km): 118 km ongoing in Ebonyi State.
4. Akwanga–Jos–Bauchi–Gombe Road (439 km): Being redesigned from flexible to rigid pavement for durability.
Out of the total length of these projects, the North accounts for 52% and the South for 48%.
Other Major Projects in the North:
• Sokoto–Gusau–Funtua–Zaria Road (275 km dualised, ₦824bn).
• Abuja–Kaduna–Kano Road (350 km dualised, ₦764bn).
• BUA Tax Credit Road in Jigawa, Katsina, Kano (256 km dualised).
• Zaria–Hunkuyi Road (156 km).
• Kano Northern Bypass (49 km).
• Kano–Maiduguri Road (100.9 km).
• Bama and Dikwa Roads in Borno (100 km).
• Damaturu–Maiduguri Road (110 km).
• Malando Road in Kebbi (76 km).
• Benue–9th Mile Road (250 km dualised, $958m).
• Lokoja–Okene Dualisation (86 km).
• Kaduna–Katsina Roads (Sections 1 and 2, ₦150bn).
Major Projects in the South:
• Lagos–Ibadan (8.5 km, ₦33bn).
• Lagos–Sagamu (12 km dualised).
• Oyo–Ogbomoso–Ilorin (₦146bn).
• Rehabilitation of Carter, Third Mainland, and Eko Bridges (₦120bn).
South East:
• Enugu–Onitsha Road (107 km, ₦202bn via MTN Tax Credit).
• Enugu–Onitsha Road (72 km, ₦150bn via CBC).
• Enugu–Abakaliki Road (36 km).
• 2nd Niger Bridge Access Road (17.5 km dualised, ₦175bn).
• Lokpanta–Enugu Road (61 km dualised, ₦100bn).
South South:
• Eleme–Onne Road (30 km, ₦156bn).
• Eket Bypass (9.7 km dualised, ₦76bn).
• East–West Road Section 2 (₦186bn).
• Nembe–Brass Road (₦150bn).
• Lokoja–Benin Dualisation (₦167bn).
• 2nd Niger Bridge Access Road in Delta (17 km dualised, ₦146bn).
• Bodo–Bonny Road in Rivers (35 km with 12 bridges, ₦200bn).
Beyond roads and rail, this administration has also revived the 255MW Kaduna Power Plant, advanced the AKK Gas Project, and expanded oil and gas exploration in the North with the drilling of three oil wells in the Kolmani region of Bauchi and Gombe States. Kano-Maradi rail line, inherited at 5% has received huge funding support from the government making it attain 67% within a short time.
President Tinubu is building national infrastructure, not local trophies. Lagos is rightly upgraded as Nigeria’s commercial hub, but the Northwest holds the lion’s share of approvals. This proves that all regions are receiving fair consideration.
Equity is also evident in federal appointments. President Tinubu has consistently appointed capable Nigerians from every part of the country, guided by competence and inclusivity rather than sectional considerations.
Inclusivity lies at the heart of the Renewed Hope Agenda. The establishment of five new Regional Development Commissions and the creation of the Federal Ministry of Livestock Development further illustrate the President’s determination to address Nigeria’s unique developmental needs in a manner that benefits all sections of the country.
On the whole, President Bola Ahmed Tinubu has not only kept faith with Nigerians but has proven himself to be a fair, pragmatic, and consequential reformer.
His leadership is inclusive, his vision is unifying, and his commitment to equity and justice is unwavering.
Nigerians can rest assured that under his watch, no part of this country will be left behind.
News
PRCAN Mourns the Passing of NIPR Council Member, Bashir Chedi


The Public Relations Consultants Association of Nigeria (PRCAN) has received with deep shock and sadness the news of the passing of Mallam Bashir Chedi, a distinguished member of the Council of the Nigerian Institute of Public Relations (NIPR), who died at the age of 65.
In a statement issued by PRCAN, the Association described the late Chedi as an accomplished professional, a consummate communicator, and a pillar of integrity whose contributions to the growth of public relations in Nigeria will remain indelible.
“Mallam Bashir Chedi was a respected voice in our profession, a mentor to many, and an advocate of ethical practice. His departure is not only a great loss to the NIPR family but also to the larger communication and public relations community in Nigeria,” PRCAN said.
The Association extended its condolences to Dr. Ike Neliaku, President and Chairman of Council of the Nigerian Institute of Public Relations, the NIPR Council, the family of the deceased, and the entire PR community, praying that Almighty God grants them the strength to bear the loss.
“While we mourn his passing, we take solace in the impactful legacy he has left behind, one that will continue to inspire present and future generations of PR practitioners,” the statement added.
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