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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CBN economic czarism and its consequences – 8

CBN economic czarism and its consequences – 8

Why must a banking system with Islamic background be forced on the throat of a country that is plural in religion? It should not be accepted or else Nigeria is heading towards disintegration.” Reverend Peter Akinola, immediate past Primate of the Church of Nigeria (Anglican Communion) in Vanguard, Monday July 11, 2011, p 8.

N18,000 minimum wage, an assault on human dignity – Prof. Utomi

N18,000 minimum wage, an assault on human dignity – Prof. Utomi

A major industrial crisis that would have crippled economic activities in the country was averted last week as leaders of the nation’s labour movement called off a three-day warning strike declared to compel the federal, states and local governments to ensure the implementation of the N18, 000 minimum wage.

ISO certificate for oil firm

ISO certificate for oil firm

Natony, a major contractor of the Shell Petroleum Development Company (SPDC), has been issued a certificate of conformity to the requirements of NIS ISO 9001:2008 Quality Management System Standards.

Factors fuelling frauds in financial  sector, by ICSAN president

Factors fuelling frauds in financial sector, by ICSAN president

Macro-economic instability, poor governance and lack of or inadequate risk management have been identified as some of the factors responsible for the sharp practices bedeviling the banking sector, stock market and general investment in Nigeria.

NCS steps up security at borders

NCS steps up security at borders

The Nigeria Customs Service (NCS) Ogun State Command is putting measures in place to step up security at the border points in order to curtail illegal trades and prevent offensive goods from coming into the country.

.…Impounds security vehicles

.…Impounds security vehicles

The Nigeria Customs Service, NCS, Tincan Island Command has impounded two security vehicles smuggled into the country through the ports.

‘ Why we waived N1.3bn storage charges’

‘ Why we waived N1.3bn storage charges’

The concessionaires in charge of Lagos ports, APM Terminals Apapa Limited and Lilypond Container Terminal, Ijora, have offered importers waiver of accumulated storage charges of N1.3 billion in a bid to tackle congestion at the ports, explaining that the initiative was to enable importers remove their containers that had been in the ports for over a year.

Man makes living from Grasscutter farming

Man makes living from Grasscutter farming

For the few Nigerians who have realised that self-employment is the quick solution to the problem of unemployment in Nigeria, they have started creating jobs for themselves through animal farming without waiting for the government of the day to provide one for them, even when they could not get assess to N200 billion agric loan.

African mobile advertising market grows with 37.9%

African mobile advertising market grows with 37.9%

In Mobi, one of the world’s largest independent mobile ad network, has released its May 2011 Mobile Insights Report for Africa, providing insights on mobile advertising trends on the continent. Report shows that InMobi now serves 4.2 billion impressions a month in Africa, up to 37.9% from 3.0 billion in February 2011.