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CBN cites withdrawal of forbearance, loan reclassification for 8.03% rise in NPLs ratio
Banks’ non-performing loans (NPLs) ratio jumped to 8.03 per cent, seven months after the Central Bank of Nigeria (CBN) ended key regulatory forbearance measures that had allowed banks to restructure troubled loans without immediately classifying them as impaired. According to…
Alpha Morgan Bank reports N1.9bn PBT, breaks even in first 10 months of operation
Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax (PBT) of N1.9 billion in under 10 months of operations. It would be recalled that Alpha Morgan Bank commenced operations in March 2025 with the rare distinction…
FG’s N40bn debt, others crippling operations of Ibom Power Company — Gov. Eno
Federal Government’s N40 billion debt owed to the Ibom Power Company (IPC) is crippling operations of the state-owned generating company (GenCo), according to Governor Uno Eno. The Akwa State governor, Eno who disclosed this, weekend, during a media briefing in…
Banks’ lending to MDAs hit N39.60trn in 1yr, as credit to private sector drops by 15% — CBN
Central Bank of Nigeria (CBN) data for April has disclosed that while Nigerian banks raised credit to the public sector of the economy, the same facility to the private sector dropped, in one year period under review. According to the…
ALTON welcomes FCCPC’s suspension of DEON regulation
Association of Licensed Telecommunications Operators of Nigeria (ALTON) has welcomed the decision by the Federal Competition and Consumer Protection Commission (FCCPC) to suspend enforcement of the controversial Digital, Electronic, Online, or Non-traditional Consumer Lending (DEON) regulations against mobile network operators…
EU slams €200m fine on Temu for sale of unsafe, illegal products
European Union (EU), through its Commission, has imposed a €200m fine on Chinese-owned online retail outlet, Temu over illegal products, including; dangerous baby toys and faulty chargers offered for sale on its platform. According to the EU’s European Commission, Temu…
Adesina appointed chairman, Botswana’s Diamonds for Development Fund, as Ooni hails Ex-AfDB boss
Former president of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has been appointed as the Chairman of the Botswana/De Beers Diamonds for Development Fund (DDF). In a statement, Monday, June 1, the Botswana government and De Beers Group, the…
Dangote retains Africa’s Most Admired Indigenous Brand award
Ziggy Ojiegbe Dangote Industries Limited has reinforced its status as one of Africa’s most influential corporate brands after emerging as Africa’s Most Admired African Brand for the eighth consecutive year. The recognition was announced at the 16th edition of the…
WIEN commends ExxonMobil on fostering inclusive workplace culture
Africa’s leading gender diversity advocacy group, the Women in Energy Network (WIEN), has commended ExxonMobil for promoting gender equity and creating an inclusive work environment across its Nigerian operations. The organization also pledged to deepen collaboration with the energy giant…
NLNG to boost LNG shipping capacity by over 500,000 cubic metres
Nigerian Liquefied Natural Gas (NLNG) Limited is set to increase its liquefied natural gas (LNG) transportation capacity by more than half a million cubic meters over the next three years as it strengthens its position in the global supply chain…
