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 […]
Lending rates hit 95% in interbank market
Lending rates in the interbank money market rose to 95 percent yesterday as scarcity of funds intensified.
Fashola succeeds Olowude as IGI MD
Board of Directors of Industrial & General Insurance Plc (IGI) has appointed Mr. Rotimi Fashola as the substantive Group Managing Director. He succeeds Mr. Remi Olowude, the company’s Executive Vice Chairman/Founder, who passed on last year.
Petrol marketers induce fuel scarcity
There are indications that petrol marketers are out to inflict hardship on Nigerians by hoarding the product six weeks to the general elections. This may not be unconnected with the apparent cold war between marketers and the management of the Petroleum Products Pricing Regulatory Agency, PPPRA.
Oil prices to experience partial rebound — IEA report
Global oil prices will recover only partially from spectacular lows, which are unlikely to spur economic growth or kill off United States, U.S. shale gas production, the International Energy Agency, IEA, has said.
Falling crude price: Nigeria’s growth rate projected at 5%
Economic experts have projected an average growth of five per cent for Nigeria in 2015, warning that the country will begin to feel the full impact of the decline in oil prices within the next couple of months.
