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Okowa, Dikio, Others Harp On Reviving Niger Delta Economy

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Delta State governor, Dr. Ifeanyi Okowa, Interim Administrator of the Presidential Amnesty Programme (PAP), Col. Milland Dixon Dikio (rtd) and the Executive Director, Business Development, Nexim bank, Stella Okotete, have proffered solutions to the economic challenges of the Niger Delta region.

The trio spoke in Warri, Delta State at an economic summit organised by the Presidential Amnesty Programme (PAP) with the theme, ‘Restoring Wealth Creation in Niger Delta Region’.

Okowa, who was represented by the Executive Secretary, Delta State Micro, Small and Medium Enterprises, Orezi Esievo, called for more private sector involvement in the development of the region, saying government alone could not do it.

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The governor, who spoke on the importance of SMEs to any economy, said his administration is open to partnerships that will ensure sustainable wealth is created for the people of Delta State and the region as a whole.

In his remark, Dikio said the summit was aimed at highlighting the limitless opportunities readily available within the region to enable the ex-agitators have an idea of how to benefit from it.

“This summit is a test-run of a larger one to come next year that will be all-encompassing. Basically, we are here to preach the gospel of shared prosperity. We can talk about how rich and prosperous Niger Delta is but if we don’t do something about it, it will be more wishful thinking”, Dikio said.

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Okotete on her part worried that other regions in the country were taking advantage of their resources to create the needed wealth, while Niger Delta youths were relying on handouts.

She said with the agricultural resources in the region and the huge talents in the entertainment industry, people should form clusters and build the structures that will make it easier to access funding from institutions like the Nexim bank to begin export trade.

Okotete said, “Non-oil sector is what is driving the economy of every country and in this region, there are a lot of resources that can be exported. The various governments in the region need to create an enabling environment for more investors to come.

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“The government needs to create a balance between economic and infrastructural development. It’s not just enough to build roads, yes roads are good but they should also build industries.

“We must look at the export space. Export creates massive wealth. We must wake up and look into the future. Nobody will build the Niger Delta for us, it is only we that can do that. Let us start selling our region to the world and create a better future for our children.”

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On his part, AVM Okorodudu (rtd), said it was unfortunate that since 2009 when the amnesty programme started, agencies of government like the Niger Delta Development Commission (NDDC), had failed to carry out their responsibility of reconstruction.

Okorodudu, who commended Dikio’s effort noted that funding the training of ex-agitators was an expensive venture, but added that it was a sheer waste of resources to train them without employing or engaging them.

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CBN Retains Interest Rate At 27%

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The Monetary Policy Committee of the Central Bank of Nigeria has voted to retain the benchmark interest rate at 27 per cent.

CBN Governor, Olayemi Cardoso, announced the decision on Tuesday following the apex bank’s 303rd MPC meeting in Abuja.

Cardoso stated that the committee also resolved to keep all other monetary policy indicators unchanged.

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READ ALSO:CBN Issues Directive Clarifying Holding Companies’ Minimum Capital

He noted that the Cash Reserve Ratio (CRR) remains at 45 per cent for commercial banks and 16 per cent for merchant banks, while the 75 per cent CRR on non-TSA public sector deposits was equally maintained.

Cardoso added that the Liquidity Ratio was retained at 30 per cent, and the Standing Facilities Corridor was adjusted to +50/-450 basis points around the Monetary Policy Rate.

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The decision comes as Nigeria records its seventh consecutive month of declining inflation, which eased to 16.05 per cent in September 2025.

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CBN Issues Directive Clarifying Holding Companies’ Minimum Capital

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The Central Bank of Nigeria, CBN, has issued a definitive directive detailing how financial holding companies should calculate their minimum paid-up capital, following weeks of confusion that delayed the release of some banks’ half-year and nine-month financial statements.

In a circular dated November 14, 2025, the apex bank acknowledged “divergent interpretations” of the term minimum paid-up capital as stated in Section 7.1 of the 2014 Guidelines for Licensing and Regulation of Financial Holding Companies.

To eliminate ambiguity, the CBN ruled that minimum paid-up capital must be computed strictly as the par value of issued shares plus any share premium arising from their issuance.

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“All Financial Holding Companies are required to apply this definition in computing their minimum capital requirement—without exception for subsidiaries,” the circular stated.

The regulator added that the directive takes immediate effect, noting that any previous interpretation that does not align with the new clarification “should be discontinued forthwith.”

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The move is expected to calm market anxiety and provide clarity for lenders navigating ongoing regulatory capital requirements.

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Naira Records Massive Week-on-week Depreciation Against US Dollar

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The Nigerian Naira recorded massive week-on-week losses against the United States dollar at the official foreign exchange market.

The Central Bank of Nigeria’s exchange rate showed that the Naira dipped significantly to end the week at N1,456.73 on Friday, November 21, 2025, down from N1,442.43 traded on November 14.

This means that on a weekly basis, the Naira shed N14.06 against the dollar at the official market.

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However, at the black market, currently battling with low patronage, it remained stable at N1,465, the same rate traded last week.

The development comes despite Nigeria’s foreign reserves rising by 1.25 per cent to $43.64 billion in the last week.

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