Business

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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Customs launches digital vehicle verification system to tackle smuggling

By Godwin Oritse  The Nigeria Customs Service (NCS) has launched a new digital verification platform designed to curb vehicle smuggling, enhance transparency, and strengthen accountability in the automobile importation process. The initiative, known as the Customs Verification Management System (CVMS), was officially unveiled at the Customs Headquarters in Abuja by the Comptroller-General of Customs, Adewale Adeniyi. […]

REFORMS: LCCI projects positive year-end economic outcome

By Yinka Kolawole At the backdrop of the economic reforms of the federal government (FG), the Lagos Chamber of Commerce and Industry (LCCI) has projected the Nigerian economy to end this year on a positive note if the current reform efforts are sustained. LCCI President, Gabriel Idahosa, expressed this optimism yesterday, in Lagos, at a media […]

UBA, Renewvia commission solar systems across 25 branches

…Strengthens Nigeria-Norway clean energy collaboration In a significant stride toward deepening economic ties between Nigeria and Norway, United Bank for Africa (UBA) has partnered with Renewvia Solar Nigeria to deploy renewable energy solutions across 25 UBA branches in five Nigerian states. The initiative was formalised at the official Ribbon Cutting ceremony held at the UBA Oba […]

FG’s revenue up 68% to N20.9trn in 2024 — Budget Office

  By Yinka Kolawole, with agency report The federal government’s  (FG) total revenue inflow increased by 68.11 percent to  N20.98 trillion  in 2024 compared to  N12.48 trillion recorded in 2023, the  budget office of the federation has disclosed in  its fourth quarter (Q4) 2024 budget implementation report. The report, however, noted that the figure was N4.89 […]

LG, Ecobank partner to drive smart living with flexible financing solutions

By Cynthia Alo   LG Electronics Nigeria has announced a partnership with Ecobank Nigeria to offer flexible financing options that allow consumers to own LG’s latest range of AI-powered Smart TVs, washing machines, refrigerators, and air conditioners without the burden of full upfront payment. The partnership, unveiled at Ecobank headquarters in Lagos with the theme , ‘From […]

Stock market capitalisation inches towards N100trn

By Peter Egwuatu  Nigeria’s equity market climbed to a new high, yesterday, extending its rally on the back of broad economic reforms and improving investor sentiment.   The NGX market capitalisation chasing a N100 trillion mark closed on Thursday at N98.059 trillion, while All-Share Index (ASI) advanced 0.49 per cent   to close at 154,489.90 basis points from […]

2025 Almond Insurance Industry awards holds Friday

‎By Rosemary Iwunze All is now set for the 2025 Almond Insurance Industry Awards, an annual event that brings together stakeholders from all arms of the insurance industry, policy makers, clients, entertainers, and the insuring public. The prestigious event will take place on Friday, November 7, at the Stable Event Centre, Bode Thomas, Surulere, Lagos. […]

Wema Bank eyes new frontiers after investor endorsement

Wema Bank Plc, is set to embark on its next phase of strategic growth and market expansion following the successful conclusion of its N50 billion private placement, which drew strong interest from institutional investors.

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