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 […]
Dangote Refinery resumes petrol loading in Naira at N1,215 per litre
•As depots, filling stations adjust prices By Udeme Akpan, Energy Editor Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit (PMS), also known as petrol, in naira after a week suspension, ending uncertainty in the downstream sector over its temporary shift to dollar-denominated sales. Checks by Vanguard showed that the refinery has fixed […]
Nigeria leads in online gambling regulation
•As illegal market hits $17.8bn By Yinka Kolawole Nigeria has emerged as one of Africa’s most regulated online gambling markets, even as illegal operators continue to dominate the continent, according to a new report by Gaming Compliance International (GCI). The report, the first comprehensive assessment of online gambling across all 54 African countries, showed that Africa’s […]
PenCom to refine investment framework, lunches 3 initiatives
By Emeka Anaeto The National Pension Commission (PenCom) is set to refine its investment frameworks to direct pension capital into critical national assets, including infrastructure, energy, healthcare, and agriculture, while maintaining competitive returns for contributors. These are some of the disclosures made by the PenCom Director-General, Ms. Omolola Oloworaran, at briefing in Abuja, where she outlined […]
Femi Otedola raises First HoldCo stake to 21.96% worth N77.6bn
By Peter Egwuatu Chairman of First HoldCo Plc, Femi Otedola, increased his shareholding in the company to 21.96 per cent yesterday with acquisition of an additional 706.13 million shares valued at N77.58 billion. This was disclosed in a filing obtained from the Nigerian Exchange (NGX), as the latest acquisition raised the volume of shares under his […]
Private sector credit hits N83trn, as money supply surges
By Elizabeth Adegbesan The Central Bank of Nigeria (CBN) has revealed a significant expansion in the country’s financial system, with credit to the private sector rising by 2.8 percent month-on-month to N83.3 trillion in June 2026, up from the N81 trillion recorded in May 2026. However, the apex bank disclosed that credit to the government dipped […]
