News
C’River’s community revives barter market
Image: Barter trade
Akpabuyo Local Government Area in Cross River State has reopened its centuries-old barter market, a unique trade hub in West Africa, as part of activities marking the council’s 34th anniversary.
The celebration, held at the council headquarters, brought together residents, traditional leaders, and political figures who hailed the return of peace to the area.
They described it as the foundation for Akpabuyo’s renewed economic prospects.
Former Peoples Democratic Party’s (PDP) Deputy Governorship candidate, Dr. Emana Duke Ambrose-Amawhe, said the reopening of the barter market was a landmark development, crediting Governor Senator Prince Bassey Otu for restoring stability in the community.
Since His Excellency came into power, he put all measures in place to ensure calm and peace.
Today, people can sleep in their houses with their eyes closed, and that is why you see this turnout from far and near,” she said.
Dr. Ambrose-Amawhe highlighted Akpabuyo’s natural maritime position, bordered by rivers, Bakassi, and the Atlantic Ocean.
He emphasised that the government investment in dredging, deep-sea port projects, and marine preservation will reinforce its role in trade and agriculture.
“With the pace of growth, Akpabuyo will contribute even more to the economic advancement of Cross River State and Nigeria. More jobs will mean more stability for our people,” she added.
Council Chairman, Hon. Effiom Bassey Effiong, said hosting the first official anniversary of Akpabuyo’s creation was a privilege, noting that the event was made possible by improved security.
“The place is calm and safe. We have Marine Police, the Navy, the Army, the Airforce, and our local vigilantes. Investors from China and other countries are already showing interest; some have even acquired land to build a university and industries,” he said.
Hon. Effiong also revealed plans to remodel the barter market into a world-class commercial hub to attract more investors and cross-border traders from Cameroon and beyond.
News
News Commentary: Senator Godswill Akpabio ” Kpai in London”, Another Fake News
With these kind of satanic rumours and fake news, how can someone argue against the regulation of the social media to prevent the anguish these cousins of the devils bring to people and their families through peddling and sharing fake news.
•Senator Godswill Akpabio
By Anietie Ekong
Over the weekend the internet was abuzz with the “news” that the President of the Senate, Senator Godswill Akpabio had suddenly collapsed, rushed in an air ambulance and flown to London where he was admitted into the intensive care unit of an unnamed London hospital.
They claimed he was battling for his life in London.
Those who peddled this rumour and obviously fake news could swear that they saw when the Senate President allegedly collapsed while others said they heard it from their “sources” in London.
Indeed the rumours about Akpabio’s health status has become a periodic pastime and an industry of its own.
Two years ago, immediately after a colloquium at Transcorp Hilton Hotel, with President Bola Tinubu in attendance, to mark his 61st birthday, the same rumour mill took over: Senator Akpabio had collapsed and was rushed to London.
The following day, it became like a miracle that the same man they claimed was receiving treatment in London, showed up and met with the Senate Press Corps. The rumour died down, albeit temporarily.
Few months back the same narrative was reinvented by people whose only job is being authority of fake news concerning the health status of Senator Akpabio. Again they said he was hospitalzed in London.
Live videos with fellow Senators could not convince the doubting Thomases that Senator Akpabio was hale and hearty until his return to Nigeria few days later.Then the last weekend episode.
The peddlers of these fake news are not even creative. Same story, same narrative: Akpabio had collapsed and was rushed to the hospital in London. How many times does Akpabio have to collapse and rushed to London in a year?
As with everything Akpabio, bloggers jumped into the fray to drive traffic to their social media pages, and earn some dollars in the process.
When the “news” first filtered in, I wondered who they were talking about. Was it the same Godswill Akpabio, my boss, whom I had had a long chat with on Friday night cum Saturday morning or was it someone else? Was he chatting with me from the intensive care unit of the London hospital?
The most dangerous of these fake news carriers are those who repost the “news” with their fake sympathy: “Pray for Akpabio”, “I wish him quick recovery,” “Nothing must happen to Akpabio.” “May God heal him.”
In the voice of Chief Nyesom Wike: fake, fake, fake.
As with everything Akpabio, bloggers jumped into the fray to drive traffic to their social media pages, and earn some dollars in the process.
They did live videos and one even said Akpabio had “kpai” in London.
I had only one word for Journalists who reached out to me to “confirm” this story: don’t take my denial for it, wait till Tuesday and see who would preside over the Senate plenary.
Then on the first legislative sitting day of the week, the same man they claimed was battling for his life in an intensive care unit of a hospital showed up and presided over an extended plenary that lasted well into the evening, where major decisions were taken by the Senate without showing any signs of distress.
With these kind of satanic rumours and fake news, how can someone argue against the regulation of the social media to prevent the anguish these cousins of the devils bring to people and their families through peddling and sharing fake news.
The fake news carriers never said never. As early as tomorrow they can cook another one again.We wait till the next episode.
News
Senate Directs NSA, DSS to Investigate False Death Rumours Targeting Akpabio and Gowon
The Nigerian Senate on Tuesday resolved to mandate the National Security Adviser (NSA), Nuhu Ribadu, and the Department of State Services (DSS) to thoroughly investigate and take appropriate action against individuals spreading false death rumours about Senate President Godswill Akpabio and former Head of State, General Yakubu Gowon (rtd.).
The decision followed a point of order raised during plenary by Senator Titus Zam (APC, Benue North-West), who condemned the viral social media reports claiming that Akpabio had collapsed and died in a London hospital.
Zam highlighted that such misinformation was not only false but damaging to Nigeria’s image, especially as Akpabio was actively presiding over the session.
Zam also referenced a recent similar hoax targeting Gowon, noting that rumours of the former leader’s death circulated even as he attended a public event, such as a Christmas carol service.
Presiding over the plenary, Senate President Akpabio sustained the point of order, describing the trend of fake death reports as disturbing and increasingly common among prominent Nigerians, including politicians and businessmen.
He emphasised the challenges of regulating social media content, likening it to “garbage in, garbage out,” but stressed the need for security agencies to trace the origins of such falsehoods.
“Is it the view of the Senate that this matter be referred to the National Security Adviser and the DSS to investigate?”
Akpabio asked, before putting the motion to a voice vote, which received unanimous support from senators.
The resolution calls for a probe into the promoters of the rumours, with potential sanctions to deter future incidents.
This comes amid growing concerns over misinformation on digital platforms targeting high-profile figures.
Business
CBN Revokes Operating Licences of Aso Savings and Loans, Union Homes Savings and Loans
The Central Bank of Nigeria (CBN) has revoked the operating licences of two primary mortgage institutions, Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing persistent regulatory violations and severe financial weaknesses.In a statement released on Tuesday by the Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank said the revocation was carried out under powers conferred by Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020 and Section 7.3 of the Revised Guidelines for Mortgage Banks in Nigeria.

The CBN stated that the affected institutions breached multiple provisions, including failure to meet the minimum paid-up share capital requirements for their licence categories, having insufficient assets to cover liabilities, critical undercapitalisation with capital adequacy ratios below prudential minima, and non-compliance with several regulatory directives.
“This action is part of ongoing efforts to reposition the mortgage sub-sector, promote a culture of compliance with relevant laws and regulations, and ensure the stability of Nigeria’s financial system,” the statement read.
The revocation comes amid long-standing challenges for both institutions, which were delisted from the Nigerian Exchange (NGX) in 2024 for failing to submit audited financial statements for over six years.
Reports have also highlighted customer complaints over trapped deposits and governance issues.
Following the licence revocation, the institutions are no longer authorised to operate as licensed financial entities.
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation process and begun payments of insured deposits up to ₦2 million per depositor.
The CBN reaffirmed its commitment to safeguarding depositors’ interests and maintaining financial system stability, adding that it will continue enforcing strict regulatory standards across the sector.
Depositors have been urged to await further guidance from the NDIC on claim settlements.
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