Withdrawal of COVID-19 Forbearance pushes banks’ bad loans above CBN limit
By Elizabeth Adegbesan The withdrawal of the Central Bank of Nigeria’s (CBN) COVID-19 regulatory forbearance given to banks has pushed banks’ Non-Performing Loans (NPLs) ratio to 9.94 per cent in the first quarter of 2026 (Q1’26), significantly above the apex bank’s prudential benchmark of 5.0 per cent. The development was disclosed in the CBN’s first quarter […]
MAN seeks tax harmonisation, stable policies to boost manufacturing
The Manufacturers Association of Nigeria (MAN) has called for urgent tax harmonisation, improved infrastructure, reliable energy supply and a predictable regulatory environment to strengthen the country’s manufacturing sector. The appeal was made at the 41st Annual General Meeting (AGM) of the Ogun Branch of MAN in Abeokuta, with the theme: “Building a Resilient Manufacturing Sector: Surmounting […]
Nigerian manufacturers need more than macro reforms to grow —CFG Advisory
Nigeria needs a coordinated industrial growth strategy, beyond macroeconomic reforms, to unlock investment in the manufacturing sector and accelerate economic expansion. Chief Executive Officer of CFG Advisory, Mr. Tilewa Adebajo, stated this in an interview on CNBC Africa. He noted that reforms such as exchange rate liberalisation and broader macroeconomic adjustments should be regarded as the […]
FG rehabilitating Eastern ports, NPA assures stakeholders
By Efe Onodjae The Nigerian Ports Authority (NPA) has dismissed claims that the Eastern Ports have been neglected, saying the Federal Government (FG) is investing in infrastructure upgrades to restore their competitiveness and attract more cargo traffic. Manager of the Rivers Port Complex, Kenechi Okaeze, gave the assurance during an interactive session with members of the […]
Sterling financial records 31% revenue growth in H1’26
…Balance sheet nears N5 trillion By Babajide Komolafe Sterling Financial Holding Company Limited has recorded a 31.5 per cent growth in gross earnings to N279. 6 billion in the half-year ended 30 June 2026 over the corresponding period in 2025. The parent company of Sterling Bank disclosed this in its unaudited results for the half-year ended […]
Stock market reverses rally as investors lose N1.3trn in one week
… Despite N11.1trn July gain By Peter Egwuatu Nigeria’s stock market reversed course last week as widespread profit-taking erased N1.261 trillion from investors’ portfolios, ending the week in negative territory after a sustained rally. The decline followed renewed selling pressure across major banking, industrial and consumer goods stocks as investors cashed in on the strong gains […]
