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 […]
PenCom increases NSITF pensions by 1,173%, pays N8.70bn arrears
By Rosemary Iwunze The National Pension Commission (PenCom) has approved an upward review of pensions for 2,116 retirees under the Nigeria Social Insurance Trust Fund (NSITF), increasing their total monthly pension payments from N12.56 million to N159.95 million. The upward review translated to an unprecedented 1,173% enhancement in the total monthly payout. According to PenCom: “The […]
DHL Aviation increases logistics capacity with two Boeing 737 Aircrafts
By Cynthia Alo DHL Aviation has increased its logistics capacity in Nigeria with the unveiling of two fully branded Boeing 737-400 aircrafts at Murtala Muhammed International Airport, Lagos. In a statement, the company noted that as part of its ongoing investment in SSA’s logistics infrastructure, the additional air capacity will enhance transit times, improve delivery […]
Economic reforms driving political stability, inter-government synergy — Bagudu
By Progress Godfrey ABUJA — Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu says President Bola Tinubu’s economic reforms are strengthening political stability and fostering unprecedented unity across Nigeria’s three tiers of government. Speaking in Abuja yesterday during a meeting with the Agence Française de Développement (AFD) mission, Bagudu noted that the reforms have […]
Fuel price increases: How oil companies exploited Nigerians
*Crude oil price rose 6.2%, Nigerian oil firms increase price by 14.3% By Obas Esiedesa, Abuja Nigerians are now battling with disproportionate increases in petrol prices at the petrol stations as marketers push retail prices far above rate of increase in crude oil prices. On Tuesday all petrol stations jerked their pump prices from average N750 […]
FG raises N501bn from bond market to settle GenCos’ debt
•14 GenCos sign deal By Obas Esiedesa, Abuja The Federal Government has raised N501.02 billion from the bond market to begin settling outstanding debts owed to power generation companies (GenCos), as part of efforts to reduce over N6 trillion liabilities in the electricity sector. The funds were mobilised through the issuance of two bond tranches: a […]
