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ONE of Nigeria’s biggest lenders, Zenith Bank, wrote off loans totalling N1.24 trillion in 2025 after it became obvious that the debtors would not pay back. As a result, the bank was forced to declare the loans delinquent and subsequently classified them as lost, the 2025 audited financial statement of the bank revealed. Financial experts […]
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NIGERIA’s push to become a major gas-driven economy is set to gather momentum in 2026, as the Nigerian National Petroleum Company Limited (NNPC Ltd) plans to inject an additional 1.8 billion cubic feet of gas per day (cf/d) into the domestic market. The expansion forms a central pillar of the company’s Gas Master Plan (GMP) […]
THE Central Bank of Nigeria (CBN) has approved licensed Bureau De Change (BDC) operators to participate in the Nigerian Foreign Exchange Market (NFEM) to enhance liquidity in the retail segment and address the legitimate foreign exchange (FX) needs of end users. Under the new guideline, each BDC’s weekly FX purchase is capped at $150,000, and […]
STANDARD Chartered Bank Nigeria has appointed Mr Ayodeji ‘Deji’ Adelagun as acting chief executive officer of its Nigerian operations, the bank announced on Monday. Mr Adelagun, a long-serving executive at Standard Chartered, brings more than 26 years of experience across the financial services industry, including financial markets, banking operations, securities and foreign exchange trading, asset […]
IN the first quarter (Q1) of 2024, the Central Bank of Nigeria (CBN) rolled out new recapitalisation requirements for deposit money banks. The guidelines mandated international banks to raise at least N500 billion. National banks were required to raise N200 billion, while regional banks were asked to meet the N50 billion capital requirement. There were […]
IN the first quarter (Q1) of 2024, the Central Bank of Nigeria (CBN) rolled out new recapitalisation rules mandating international banks to raise at least N500 billion. National banks were required to raise N200 billion, while regional banks were asked to meet the N50 billion capital requirement of N50 billion. There were also N20 billion […]
THE naira ended last week on a positive note at the official foreign exchange (FX) market, recording its first weekly appreciation of the year. By Friday, the local currency had strengthened by N7.68, buoyed by improved market liquidity and sustained support from the Central Bank of Nigeria (CBN), which helped lift overall sentiment. The currency’s […]
Rand Merchant Bank Nigeria Limited (RMBN) says it has successfully met the Central Bank of Nigeria (CBN)’s capitalisation requirement for merchant banks, in line with the Banking Sector Recapitalization Programme. The bank said it had met the requirement as of December 30, 2025. This milestone, the bank said in a statement, highlighted RMBN’s financial strength, […]
ON January 16, 2006, the Central Bank of Nigeria (CBN) under Prof Chukwuma Soludo revoked the licenses of 14 banks who could not meet up with the capital requirements. For bank chiefs and workers, it was a big blow that their banks had failed. For customers, it was a shocking realisation that their loved financial […]
CHAIRMAN of FirstHoldco, the parent company of First Bank Plc, has urged the Central Bank of Nigeria (CBN) to raise the minimum capital requirement for international banking licences from N500 billion to at least N1 trillion. In a statement seen by Economy Post on Thursday, the billionaire businessman said high capital base would bolster the […]