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 […]
Norway invests $700m in Nigeria
Norwegian Ambassador to Nigeria, Kjell Lillerud has revealed that Norway has indicated interest to invest $700 million in Nigeria oil and fish industry.
NB, Nampak sign contract for supply of beer labels
Nampak’s Nigerian unit has won a contract to provide Nigeria Breweries Plc (NB), a brewer controlled by Heineken NV (HEIA), with labels for beer bottles, Chief Executive Officer, Andrew Marshall has said.
Maigidan Kwara and the N70b Rice Investment
NIGERIA’S march towards food sufficiency received a boost last week when the Kwara State Governor Abdulfatah Ahmed signed an MoU for a joint venture with Valsolar Consortium of Spain for a N70 billion rice cultivation, processing and packaging plant in the state.
Dangote Pasta targets 65% market share
The Managing Director, Dangote Pasta, Oladehinde Brown has expressed the readiness of his company to capture 65 percent of the Pasta market in the country, following the fortification of its product with new Vitamin and iron.
Cabotage is long overdue for review – Amiwero
PRESIDENT of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) Mr. Lucky Amiwero has called for the review of the Nigerian Cabotage law, saying that “the law is long over due for review”.
Enterprise Bank begins performance-based compensation system
AFTER months of creating the required awareness among staff, Enterprise Bank Limited (EBL) has started the implementation of the performance based compensation system, which entails the inclusion of a variable pay.
Private sector lending to increase by 20% in 2012 – Analysts
Banks’ lending to private sector which has been dawdling since the Central Bank of Nigeria, CBN, commenced its reform of the banking sector is expected to show some form of improvement this year, FBN Capital, the investment arm of First Bank of Nigeria PLC, has said.
Afrinvest lauds NSE over reforms
Afrinvest West Africa Limited has commended the Nigerian Stock Exchange (NSE) over the various reform initiatives adopted to enhance investor’sa confidence in the nation’s capital market.
Shell annual profits jump to $30.9 bn
Energy giant Royal Dutch Shell said Thursday that its 2011 net profit jumped by 54 percent to $30.92 billion (23.5 billion euros) on the back of higher energy prices.
Global CEOs predict tough times for investors in 2012
NIgerian investors and their counterparts in the global financial community should gear up for tough times in capital markets across the globe in the current year, according to Chief Executive Officers of multinational companies. The chief executives also predicted a further decline in the global economy in 2012.
