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 […]
NAICOM commences review of insurance accounts for last financial year
Among the seven insurance companies that have submitted their 2013 financial accounts complaint to the International Financial Reporting Standard (IFRS) to the National Insurance Commission (NAICOM), four of them are currently undergoing review.
Group set to announce innovation prizes in Africa
As global leaders gather for the 2014 World Economic Forum on Africa in Abuja next month to discuss approaches to inclusive growth and job creation, the 2014 winners for Innovation Prize for Africa (IPA) will be announced.
Nigeria’s refining capacity rises to 26%
The Nigerian National Petroleum Corporation, NNPC, has put the combined average capacity utilisation of Nigeria’s four refineries at 25.95 per cent for the month of December 2013.
KEROSENE SCARCITY: NLNG to flood markets with cooking gas
ABUJA: The management of Nigerian LNG Limited, NLNG, has expressed commitment to support Federal Government’sefforts to get more Nigerians to switch to cooking gas by making the product available for consumption.
Stanbic IBTC enjoins SMEs to tap into power reforms
Chief Executive Officer of Stanbic IBTC Holdings, a member of Standard Bank Group, Mrs. Sola David-Borha, has called on small and medium scale enterprises in the country to tap into the power sector reforms for business growth.
