A coalition of civil society organisations has expressed deep concern over the revocation of the operating licences of 46 Microfinance Banks (MFBs) by the Central Bank of Nigeria (CBN), warning that the decision could worsen financial exclusion, weaken grassroots economic activities and inflict hardship on millions of Nigerians, particularly in Kano State.

The concern was contained in a joint statement signed by Comrade Bashir Shehu, Executive Director of the African Centre for Civil Rights, Social Justice and Good Governance (Convener), and Hajiya Lami Adamu Garba, Executive Director of the Centre for Women Development Initiative, Katsina (Co-Convener), on behalf of a coalition of eight civil society organisations.

The coalition noted that Kano State was among the worst affected by the licence revocation, with 13 of the affected microfinance banks located in the state out of the 46 licences withdrawn nationwide.

According to the statement, Kano previously had about 40 licensed microfinance banks, meaning that nearly one-third of the state’s microfinance institutions have now lost their operating licences.

The organisations observed that the affected banks play a critical role in providing financial services to low-income earners, petty traders, small and medium-scale enterprises (SMEs), women, farmers and rural communities that are often excluded from conventional banking services.

They warned that the closures could lead to increased financial exclusion, disruption of small businesses, loss of public confidence in the microfinance sector, reduced access to credit and savings facilities, and broader socio-economic challenges in communities that rely heavily on microfinance institutions.

While acknowledging the CBN’s statutory responsibility to regulate the financial sector and ensure compliance with banking standards, the coalition stressed that regulatory actions should be implemented in a manner that also protects depositors, preserves public confidence and promotes financial inclusion.

The groups urged the CBN to review the decision where possible and work with relevant stakeholders to minimise the impact on affected communities. They also called on the Kano State Government, members of the National Assembly and the Nigeria Deposit Insurance Corporation (NDIC) to ensure that depositors’ funds are protected and that viable microfinance institutions receive the necessary support to strengthen their operations.

The coalition further advocated improved financial literacy programmes, enhanced regulatory guidance and capacity-building initiatives for microfinance banks, arguing that preventive reforms and institutional support would yield better long-term outcomes than actions capable of widening the country’s financial inclusion gap.

The organisations maintained that protecting access to community-based financial services remains essential to economic growth, poverty reduction and sustainable development, urging all relevant authorities to take immediate steps to safeguard the interests of affected Nigerians.

By Yusuf Danjuma Yunusa

The Federal Government has approved a N51,000 monthly salary increase for Nigerian soldiers, raising their basic pay from N49,000 to N100,000, Minister of Defence Gen. Christopher Musa announced during an appearance on News Central TV earlier today.

The disclosure, while intended to signal the administration’s commitment to improving welfare for military personnel, has instead ignited a firestorm of criticism across social media platforms, with many Nigerians questioning whether the increment adequately reflects the dangers and sacrifices inherent in military service.

“When you consider the operational environment our troops operate in, the compensation must match the risk,” one commenter, Victor, suggested, proposing that soldiers’ basic salary should fall between N400,000 and N500,000.

The announcement has drawn particular scrutiny from citizens who note the disparity between the pay hike and the perilous conditions facing troops engaged in counterinsurgency operations across the country’s northeastern and northwestern regions.

Public Reaction:

Social media users were quick to voice their discontent, with many questioning the scale of the increment.

“I don’t understand, the 100k is for feeding allowance or what?” asked Chinyere, reflecting widespread confusion about the nature of the increase.

Another commenter, Celestine, remarked with apparent sarcasm: “This must be in dollars.”

Niyoo David offered a more measured observation: “To them na achievement oo” — a comment suggesting the government views the increase as a significant accomplishment even as critics deem it insufficient.

Titilope highlighted the inherent contradiction: “So 100k is big money for the job with the highest risk?”

Some commenters, including Ahmad Abubakar and Yusuf Auwal, drew a direct connection between compensation and security outcomes, with both stating: “Now we know the meaning of Insecurity and its components” and “This is exactly the meaning of Insecurity,” respectively — remarks that appear to suggest inadequate pay contributes to the nation’s security challenges.

Despite the announcement, Gen. Musa acknowledged that the military remains underfunded relative to its operational requirements.

“The military is currently underfunded for it to meet its full operational needs,” the minister stated, without providing specific figures regarding the funding gap or detailing what additional resources would be required.

The admission raises questions about whether the salary increment, while representing a significant percentage increase of over 104 percent from the previous N49,000 base pay, will be sufficient to boost morale and recruitment in a force that has faced mounting casualties in ongoing counterterrorism campaigns.

The public discourse following the announcement has inevitably turned to the broader question of military compensation in Africa’s most populous nation, where insecurity remains a pressing concern across multiple regions.

As Nigerians continue to debate the adequacy of the N100,000 monthly salary, the question now being posed is: What is a fair wage for those who risk their lives in defence of the nation?

We ask our readers: How much do you believe a Nigerian soldier should be paid? Share your thoughts in the comments section below.

The Federal Government has said it would engage state governors and emergency response agencies to finalise plans for the nationwide adoption of 112 as Nigeria’s single emergency telephone number.

The move was disclosed in a statement released on Thursday by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha.

The statement followed a meeting between a delegation from the Nigerian Communications Commission, led by the Chairman of its Governing Board, Chief Idris Ibikunle Olorunnimbe, and the Vice President, Senator Kashim Shettima, at the Presidential Villa on Tuesday.

It said the engagement came days after the National Economic Council, chaired by the Vice President, approved the adoption of 112 as the national emergency number across all levels of government and relevant agencies, as part of measures to build a unified national emergency response system.

At the meeting, Shettima directed the NCC to develop a roadmap for implementing the initiative and to work with the National Emergency Management Agency to strengthen coordination of emergency response nationwide.

“He assured the delegation that the project would be sustained, noting that the required funding would be mobilised through the National Economic Council and the private sector.

“The Vice President also called for high-level engagement and commitment from emergency responders to drive the successful implementation of the 112 initiative,” the statement read.

Earlier, Olorunnimbe said the NCC had established about 35 Emergency Communications Centres across the country and called for greater support from state governments and emergency agencies to keep the facilities operational.

He said governors, the Nigeria Police Force, ambulance services and NEMA must work together to ensure people in distress receive prompt assistance.

“Everyone is expected to buy into this initiative and recognise its importance. It is a patriotic duty to our country to ensure that anyone in distress can get the help they need in a very swift manner,” he added.