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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Nigeria’s external reserves hit $40.4bn

As projected by the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele at the Annual Bankers’ Dinner of the Chartered Institute of Bankers (CIBN) in Lagos last November, the nation’s External Reserves have hit a new level of $40.4 Billion. This is even as the Bank injected a total of $210 million into the interbank Foreign Exchange Market in the first round of trading for the year on Monday, January 8, 2018.

Union bank: CBN, SEC complete rights issues

The Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) have concluded share allotment and capital clearance review of the N50 billion rights issue of Union Bank of Nigeria.

National Bureau of Statistics to release 179 reports on economy

Abuja – The National Bureau of Statistics (NBS) is to release no fewer than 179 reports on different sectors of the economy this year. According to the 2018 tentative data release calendar posted on the bureau’s Website, the NBS is expected to release 40 data in the first quarter. According to the calendar analysed by […]

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