Business

Withdrawal of COVID-19 Forbearance pushes banks’ bad loans above CBN limit

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 […]
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ACCA secures jobs for 400 members

ACCA secures jobs for 400 members

The Association of Chartered Certified Accountants (ACCA), Nigeria has secured about 400 jobs in various organisations, including multinationals, for some of the student-members of the body.

Hennessy partners Cobhams, others

Hennessy partners Cobhams, others

Hennessy, the best selling Cognac in the world, has commenced its third annual edition of the acclaimed Hennessy Artistry series, in Nigeria. The global art of mixing arrives with a series of live-music concerts featuring a thrilling cocktail of some of the city’s fastest rising urban-music artistes.

Calabar carnival turns festival, gets new logo

Calabar carnival turns festival, gets new logo

The hitherto Cross River State Festival which is the most diverse leisure tourism entertainment programme in Africa has been renamed Calabar Festival and its logo unveiled in Calabar.

FG to lift bans on  commodities, says Minister

FG to lift bans on commodities, says Minister

The Federal Government plans to lift the ban it placed on 40 items soon. The government, it will be recalled had prohibited the importation of these items to shield local manufacturers and make them competitive.

Create SMEs Bank, NASME urges CBN

Create SMEs Bank, NASME urges CBN

The Nigerian Association of Small and Medium Enterprises NASME, arm of the Organised Private Sector, OPS, has called on the Central Bank of Nigeria (CBN) to established an SMEs Bank, saying it will help the sector to do better and contribute meaningfully to the nation’s Gross Domestic Product(GDP) annually.

Chemical, Leather workers petition Minister over activities of Lee Group

Chemical, Leather workers petition Minister over activities of Lee Group

WORKERS in the nation’s Chemical and Leather industry, under the aegis of the National Union of Chemical, Footwear, Rubber, Leather and Non-metallic Products Employees (NUCFRLNMPE), has petitioned the Minister of Labour and Productivity, Prince Adetokunbo Kayode, to look into alleged unfair labour practices by Lee Group of Companies.

NACCIMA, EKOBA ask FG to resolve ASSU strike

NACCIMA, EKOBA ask FG to resolve ASSU strike

Apparently worried by the Federal Government and ASUU face off, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agricukture(NACCIMA), and the the Eko Boys’ High School Old Boys Association (EKOBA 79), have sought an end to the lingering strike.

NGO makes case for renewable energy policy

NGO makes case for renewable energy policy

The sustainable Development and Renew Energy Initiative (SDREI) ,a non governmental organisation (NGO), has stressed the need for government to develop a comprehensive renewable energy policy as a panacea to the lingering energy crises in the country.

Initiators  of new shipping line kicks against non-inclusion

Initiators of new shipping line kicks against non-inclusion

THE initiators of the newly approved national shipping line, the Maritime Professional Association (MPA) has kicked against their non-inclusion in the setting up the shipping firm threatening to take legal action against the authorities.

Kano, hubs of smuggling —NTMA

Kano, hubs of smuggling —NTMA

market is the hub of smuggling activities in the country, said the Nigerian Textile Manufacturers Association (NTMA).
“Kano market still remained the main hub of the smugglers, contraband are off loaded in the full glare of everybody in the broad day light without any inhibition”, said Mr. Jaiyeola Olanrewaji, Director General of NTMA.

Cotecna clinches Best Service Provider award

Cotecna clinches Best Service Provider award

Cote Destination Inspection Limited has emerged as the best Service Provider in the post port reforms in Nigerian Maritime industry.
The award was presented at the weekend, to Cotecna’s Deputy Managing Director, Mr. Ernest Woka, by a distinguished legislator, Hon. Emeka Ihedioha at the event chaired by former Managing Director of the Nigerian Ports Authority (NPA), Chief Adebayo Sarumi.

Market value dips further by N35bn

Market value dips further by N35bn

The downtrend in the Nigerian capital market continued, Tuesday, as the value of listed equities on the Nigerian Stock Exchange (NSE) dipped further by N34.63 billion.

NIMASA orders vessels to carry Automated Identification Systems

NIMASA orders vessels to carry Automated Identification Systems

The Nigerian Maritime Administration and Safety Agency (NIMASA) has directed all passenger ships operating on Nigerian waters to ensure that they carry a fully functional Automated Identification System (AIS) on board in an efforts to optimum safety standards on Nigerian waters.

Reduce dependence on oil revenue sharing  Babalola advises state govts

Reduce dependence on oil revenue sharing Babalola advises state govts

THE Minister of State for Finance, Mr. Remi Babalola, on Tuesday advised States to reduce their reliance on sharing of oil revenue from the Federation Account if the country is to achieve economic transformation. He stated that the oil revenue should be allowed to provide the cushioning stability for the nation’s economy in the face of volatility in the international oil market.

MFB operators tasked on instituting good management

MFB operators tasked on instituting good management

The Managing Director of Citigate Microfinance Bank, Mr. Phillip Okuabor, has tasked operators of microfinance banks (MFB) to institute good management staff to run the affairs of the banks.