News
NEWSPAPERS HEADLINES FOR TUESDAY 19TH JANUARY 2021
NEWSPAPERS HEADLINES FOR TUESDAY 19TH JANUARY 2021.
THE NATION
COVID-19 test not required from returning students, says Fed Govt
Ondo orders herders to quit forest
20 per cent of COVID-19 tests returns positive, says PTF
Five die in Ogun community kingship tussle
APGA, family debunk death of Abia lawmaker
Diaspora forum urges Sanwo-Olu to inaugurate Amotekun corps
EAD crucial to accurate national census
Obaseki swears in eight high court judges
Diri preaches unity, entrepreneurship to kinsmen
Chevron denies oil spill from Bayelsa facility
Alleged N1.9b fraud: Court reverses ex-CJs transfer of Babangida Aliyus trial
Niger governor to resolve Kwara APC crisis
Lawmakers back suspension of partys chair
Marwa to overhaul NDLEA
Dogara not our member, APC tells court
Obasekis certificate issue re-echoes before tribunal
EFCC arraigns Mama Boko Haram for N41.7m fraud
New political force coming, says Okorocha
FCT High Court stays proceedings in magistrate court case
Lagos arraigns club owner for flouting COVID-19 rules
Enugu roils peacefully
Abia urges teachers to shun politics
How my installation was stalled, by APC chieftain
Oyo should take pre-emptive step on security
Bisi Akande at 82
Jonathans romance with APC triggers anxiety in PDP
22 Kwara lawmakers support APC chairs suspension
Reducing human factorin air accidents
Providing affordable technology education
Making living from skin care
Touching subscribers pain points
Softwork adopts third party payment
FBNQuest: why firms need private equity in capital raising
FMDQ lists three new commercial papers
Large-cap stocks drag equities to N39b loss
NCC begins forensic audit of telcos over data depletion
IMF to press private, public banks on debt restructuring
VANGUARD
Zulum lauds Military’s success in repelling insurgents attack in Marte
Leadership: VP Osinbajo, Niger, Oyo govs to address youth summit
COVID-19: KDSG, stakeholders, develop guidelines to protect 3.5m students ‘Director
Face of Nigeria 2020/21 winner, Vivian Okpala reminisce Lekki shooting with artistic photoshoot
Police kill 2 suspected kidnappers in Plateau
EndSARS: Edo govt to offset hospital bills of 2 deaf victims, says panel chairperson
Bayelsa women-farmers decry damage, threat by herders
Residents yell as sea erodes embankment, houses in Delta community
HAWKINS CEMETERY: Strange findings in C’River graveyard where the living, dead co-habit
Storm in Akwa Ibom over murder of UNIUYO student by pastor
FG’s pushing economy towards total collapse ‘ CISLAC
Jaguar Land Rover on recovery path
2023: Okorocha explains why he’s championing new political movement
Speaker, 28 other lawmakers support removal of Kwara APC Chair
Edo Election Tribunal: Forensic expert testifies on Obaseki’s UI certificate
Bello’s presidency will correct imbalance against North Central ‘ GROUP
How ‘communication gap’ threw Kwara APC into crisis ‘ Niger Gov
Go tough on killers of security operatives, PDP charges Buhari
Anambra 2021: Close ranks to ensure APGA’s victory, Ibezi tells stakeholders
Jigawa assembly member, Babban Bare, is dead
Pension assets up despite rise in unemployment
E-payment transactions rise 80% to N2trn
CBN provides N10bn intervention funds to Kano to revive industries ‘ Consortium
Rivers govt begins admission into Madrid football academy
Music my calling, pursue your dream to excel, Philkeyz charges youths
Nigeria: This joke called a country (2)
LASU and its Vice Chancellor mess
Farewell, Admiral Kanu
How much should we suffer for govt’s failure to identify its own people’ (2)
School resumption, a difficult decision, compliance level ‘impressive’ ‘ Lagos govt
Allow northern girls finish school before marrying them off, UBEC boss, Bobboy begs parents
Ekiti demolishes dilapidated buildings in 532 Pry Schools
Ekiti demolishes dilapidated, substandard buildings in 532 primary schools
How FUTA Deputy Registrar was murdered by suspected kidnappers
COVID-19 vaccines don’t contain microchip, alter DNA ‘ PTF
COVID-19: Nigeria records 77 deaths, conducts 100,000 tests in one week
COVID-19: Number of people testing positive, dying on increase in Imo ‘ Gov Uzodinma
Anxiety as NIN/SIM linkage deadline ends Tuesday
Police arrest 11 suspected cultists in Lagos
Kidnapping: Ayade demolishes 4 houses, brothel in Calabar
THISDAY
TCN Plans Another Control Centre
China: A Saviour for Emerging Markets or Poison Pill
Barkindo: Worst is Over for Oil Industry
Sovereign Trust Insurance Maintains A- Rating
IATA Welcomes US Pre-departure COVID-19 Testing Order
FMDQ Admits Total, Valency Agro, Mixta Real Estate CPs
Surveyor General Plans Launch of Database to Boost IGR
Okowa Applauded for Attracting $40m Manufacturing Firm to Delta
NERC Set to Hear BEDCs Petition against Asaba Firm
All Eyes on PIB
Maersk Demands Military Action with Rising Pirates Attacks in WAfrica
Celebrating UBAs LEO
All-Share Index Falls 0.23% as Market Opens on Negative Note
Buhari to Inaugurate National Oil, Gas Centre Thursday
CHI Limited Foresees Bright Prospects for Nigeria in 2021
Vitafoam Grows Profit by 72%, Recommends N979m Dividend
Chinas Economy Picks Up in Q4
Titan Trust Bank clinches Intl award, emerges best trade finance provider in Nigeria
Zimbabwes Sternford Moyo is New IBA President
Bias: Effect on Trial and Decision of the Court
Nigeria, USA: A People Dehumanised, a Country Diminished
Interrogating the Godwin Maduka Factor in Anambra Politics
Disharmony All the Way in the State of Harmony
INEC Seeks Punishment for Alleged Perpetrators of Electoral Fraud
NIN-SIM Registration Aggravating the Pandemic
Workforce Productivity, Coronavirus, and the Performance Evaluation Process
NIN-SIM Registration: Sacrificing the…
NIN-SIM Registration and Public Health Compromise
Review of Some of the Significant Decisions: Labour & Employment 2020
Pharmaceutical Industry Disputes
Trump and Wole Soyinkas Green Card
AUSTRALIAN OPEN 2021: No Special Treatment for Tennis Players in Melbourne
NFF Sets up Special Covid-19 Task Force
Man Utd Survive Liverpools Blitz to Steady Lead
Ottasolo FC Chairman Explains Why Hes Empowering Former Footballers
NPFL: Rivers Utd Crush Heartland to Stay Top
PUNCH
APC crisis: Kwara lawmakers back chairmans suspension, list sins
Bello, Umahi, best candidates to rule Nigeria Speakers
Oyo PDP, APC trade blame over insecurity
Ikpeazu dispels defection rumours
Nigerians should diversify income sources to fight recession Ex-President of CIBN, Ajibola
2023: Why we are forming new political movement -Okorocha
Telcos submit 43 million NINs to NIMC for verification
Equity market down by N40bn on profit takings
Naira struggles for stability as external reserves gain
First cargo of Nigerias new crude, Anyala, set for Europe
CBN to review new products of licensed institutions
CMBs gross earnings rise by 62% in two years
Stanbic IBTC offers enterprises growth solutions
Ecobank, others back reality show to empower businesses
Adesina gets recognition for AfCFTA support
No oil spill from our Bayelsa field, says Chevron
Oyo demands details as FG faults building approvals along highways
Farmers predict maize price crash over strategic release
Nigerias nine-month oil export earnings fall by $1.24bn
School resumption: NUT meets Thursday over COVID-19 rules, partial compliance recorded
Religious fanatics twisting Kukahs statement to divert attention Soyinka
Kaduna bandits kidnap prof, kill son, three others
Director demoted by Magu emerges as head of EFCC Academy
ACP bags life sentence for receiving stolen vehicle
Bandits kidnap prof, kill son, three others in fresh Kaduna attacks
Nigeria has enough facilities to store COVID-19 vaccine NPHCDA boss
Suspected militants attack Akwa Ibom ship facility, demands N20m
Obaseki presented two UI certificates, forensic expert alleges
Senate silent as Buhari ignores National Assembly, appoints DG NDE
Police recover cash, arms from kidnappers in Niger
Amotekun alleges Oyo Okada operators working for kidnappers
Akeredolu orders herdsmen out of forest reserves, restricts grazing
Obasanjo, Tinubu mourn Martins-Kuye
35 bandits, soldier killed in Zamfara operation
Awolowo-Dosunmu seeks support for children education
Ekiti demolishes 532 old structures for new classrooms
Staggered attendance will curb spread of COVID-19 Lagos
Ogun plans security meeting over alleged Army, herdsmen collusion
Oyo Assembly denies alleged N1bn vehicle scam
Nasarawa repatriates 40 Almajiris to states of origin
Two suspected kidnappers killed, victims rescued in Plateau
Cross River demolishes suspected kidnappers houses, brothel
CAN seeks unity, mourns Catholic priest, brother still missing
Nigerian group asks Biden to back Okonjo-Iweala
COVID-19: FG releases N10bn for domestic vaccines production
Kukah gets Popes special appointment on human development
Were not aware of Akeredolus order to vacate forests -Miyetti Allah
Biden inaugural rehearsal evacuated amid fire near Capitol
Capitol rioter hoped to sell Pelosi laptop to Russia, says FBI
Meet the Harris: Americas new second family
SMEs hold the keys to transforming the economy
Nigerian economy: Recovery, growth and sustainability (1)
Exploitation of Tibets natural resources by China
NDLEA seizes 21.9kg cocaine at Abuja airport, begins probe
Sergeant threatens police brutality panel member, begs for forgiveness
Roommate of man accused of dating Lagos teenager stabbed to death
Engineer jailed 14 months for defrauding American of N19.6m
19 suspected cultists nabbed in Lagos, Ogun
Lagos to auction 88 vehicles seized for traffic violation
THE SUN
Only equity, justice’ll avert another civil war ‘Yerima Shettima
APC faults PDP’s claim of 3,000 defections in Abia
2023: Only N’Central, S’East yet to produce president ‘Kogi speaker
PDP tasks Buhari on killed security operatives
2023: IPOB, Kanu under attack over comments against Igbo presidency
Support Obiozor to realise 2023 presidency ‘ Coalition
North, South should support president of Igbo extraction in 2023 ‘Abba Gana
Insecurity: We can’t run away from state police ‘AIG Ogunsakin
2023 elections: South West Agenda launches on Tuesday for Tinubu
Kwara: 21 state, 7 national assembly members support new caretaker chairman
Ahmed Musa cries: Yahoo Boys after me!!
Ighalo wants Eagles return
NFF sets up special COVID-19 task force
Wilder to get $10m from Fury vs. Joshua payout package
Banks ready to fund Lagos rail projects ‘Egube, Budget & Planning Commissioner
NNPC posts N1.22bn trading deficit
Neimeth to raise N5bn in additional equity
AfCFTA: Permits, licences, certificates, top NOTN’s guidelines for export
COVID-19: Nigerian ports to witness shortfall of cargo import
Oyo undermining completion of Ibadan-Ilorin Road construction, says FG
Price of maize to crash as CBN-ABP releases 300,000 MT
Stanbic IBTC discontinues BDC operations
DMO offers N150bn FG bond for January
Africa’s 2021 outlook remains fragile, uncertain ‘Experts
Anyaoku, national asset Ngige
Northern forum blasts youth leader
Jonathans mission to The Gambia unites parties on new constitution
We seek to emutate Obi Lawmaker
Resumption: Low turnout in schools over fear of COVID-19
Devon Kings, Foodbay TV announce cash prize for Street Foodz King Season 2
COVID-19 vaccines dont contain microchip, altar DNA PTF
FG to resume school feeding scheme Feb
Obaseki swears-in 8 High Court judges
CAN issues fresh guidelines for church operations
Pushing back Youth unemployment post-COVID-19
Ebere Onwudiwe: Man of Ideas
Ikpeazus sucker punch
Ebizi: Worthy face of Bayelsa girl child
Who is afraid of Bishop Kukah
Mutawalle @55: Tambuwal, the leader Nigerians yearn for
Enugu Ngwo: Sitting on a powder keg
Well be asking for restitution Prof. Agu
Meeting of the Big Five
A postscript on Ugandas election
I always thought every event would be my last Rwang-Dung, event decorator
How Mgbidi welcomed The Lords Chosen at its 2021 crusade,
The invasion of US Capitol Hill
Music is my calling, pursue your dream to excel, Philkeyz charges youths
GUARDIAN
How FG’s Cash Grant is being politicised in Kebbi
Ikpeazu debunks planned defection of Abia PDP members to APC
Lagos PDP supports Makinde, says party will win state in 2023
Underage rape cases soar in Gombe
Edo deploys detectives to LGAs for enforcement on COVID-19 protocols
Group commences skill acquisition training for 400 in Oyo
New CP asks criminals to leave Ebonyi
National I-17 Cricket Championship will help blur gender, cultural lines
Oborududu, Adeniyi, Tamarau, others reign supreme
Abuja OSOM GAMES begins tomorrow
Messi faces ban after red card at Supercopa de Espana final
Shun misconceptions, myths about COVID-19 vaccine, expert tells C’River people
Rangers’ Abia wins Eunisell Boot Award for 2019/20 season
NFF unveils special task force on COVID-19 compliance by clubs
Profit-taking drags stock market capitalisation by N39 billion
Airlines groan over new protocol, restrictions in UK, U.S., others
First cargo of new Nigerian crude Anyala enroute Europe
Salami speaks on 2021 economic outlook
Nigeria seeks sustainable oil, gas sector with NOGEC
Customs FOU intercepts N20.8 billion goods, generates N1.7 billion
Insurer data analytics crucial to business development
Elumelu assures of shared prosperity, economic devt, acquires 45% in OML 17
How TECNO made customers smile amidst Covid-19
Sigma Pensions seeks early retirement plans among youths
JCI Ikeja to empower women, startups
Entrepreneurial reality show to empower businesses in Nigeria
FG engages 27,000 Borno youths in public works
Lagos TUC establishes agric cooperative for workers
Gbadamosi becomes executive director, JA Nigeria
Rising cases of abandoned street children
The challenge of COVID-19, poverty and crime
Bank customers’ movement towards ideal banking
Who is afraid of Bishop Kukah
Ebere Onwudiwe: Man of Ideas
The way we are
Trump insurrection and failed resurrection
Thank you, Goodluck Ebele Jonathan!
Ekiti court sentences ACP, technician to life over stolen vehicle
COVID-19 rules may deny Iwobi, Troost-Ekong, others from playing against Benin Republic
Stakeholders laud appointment of Nigerian as Coca-Cola CEO
Nigeria committed to good governance in Africa, Buhari insists
SOKAPU accuses Fed Govt of dividing Nigerians along ethnic, religious lines
EFCC docks ‘Mama Boko Haram’, others on fresh N41.7m fraud charge
TRIBUNE
Let’s do everything possible to avoid another lockdown, PTF tells Nigerians
Nigeria records 1,617 new COVID-19 cases, total rises to 112,004
Oredo Council boss donates van to vigilante to fight crime
Buhari re-appoints Saliu as MD of Benin-Owena River Basin Authority
Prices of maize may drop as ABP plans to release 300,000 metric tonnes
Court dismisses case on Park Management System initiative ownership against Oyo govt
Court to rule on Ebonyi PDP leadership tussle case January 20
Ekiti traditional ruler hails approval of FG’s ecological project in community
Covid-19: UK now has highest death rate in the world
Uganda switches on internet after days of shutdown
Entire US Capitol complex on lockdown due to external security threat
Local equities market halts gains, sheds N39.5bn
SPORTS
A star is born’ – Masters champion Yan Bingtao is likened to Steve Davis as he comes of age – BBC
Abuja OSOM GAMES begins tomorrow – Guardian
AFN hails triple jump record holder Usoro – Punch
Ahmed Musa cries: Yahoo Boys after me!! – The Sun
Ajayi reveals West Brom’s target versus West Ham United – Goal
Andrew Benintendi Trade Rumors: Phillies, Red Sox Deal ‘Highly Unlikely – Bleacher Report
Arsenal 3-0 Newcastle: Pierre-Emerick Aubameyang and Bukayo Saka score for Gunners – BBC
Arsenal 3-0 Newcastle: Pierre-Emerick Aubameyang at the double as Gunners beat sorry Magpies – Yahoo
Arsenal and Atletico Madrid continue Torreira talks – Goal
Arsenal duo Smith Rowe and Saka make Premier League history in Newcastle win – Goal
Arsenal lining up offer for Solomon Nigpilot – Nigerian Pilot
Arsenal vs Newcastle result: Player ratings as young Gunners inspire Premier League win against Newcastle – Yahoo
Arsenal vs Newcastle: Aubameyang revival a relief for Arteta; Partey, Smith Rowe shine; Cedric takes chance – Yahoo
Arsenal’s Aubameyang extends incredible record against Newcastle United – Goal
Aubameyang Scores Brace As Arsenal Cruise Past Newcastle – Daily Independent
AUSTRALIAN OPEN 2021: No Special Treatment for Tennis Players in Melbourne – Thisday
Australian Open tennis stars get creative with practice while stuck in hotel quarantine – CNN
Barca, PSG, Juve chasing Bellerin Nigpilot – Nigerian Pilot
Bears Rumors: Cowboys’ George Edwards Requested for DC Interview – Bleacher Report
Benevento interested in ex-Inter striker Eder Nigpilot – Nigerian Pilot
Blue-Grey All-American Bowl 2021: Kevin May’s Late TD Lifts East to Win vs. West – Bleacher Report
Bournemouth agree Wilshere deal Nigpilot – Nigerian Pilot
BREAKING: Aubameyang, Saka Score, Give Arsenal In Two-Goal Lead – Daily Independent
Cagliari 0-2 AC Milan: Zlatan Ibrahimovic scores twice as visitors regain three-point lead at top of Serie A – BBC
Calvin Johnson: It’d ‘Feel Like a Slight’ to Not Be a First-Ballot Hall of Famer – Bleacher Report
Champion of Champions Wrestling: Oborududu, Adeniyi dazzle in Bayelsa – New Telegraph
Chelsea plotting club-record bid for Haaland Nigpilot – Nigerian Pilot
Chris Froome: ‘Recovering from injury to win fifth Tour de France is motivating – BBC
Chris Olave to Return to Ohio State for Senior Year, Will Forgo 2021 NFL Draft – Bleacher Report
Dallas Mavericks’ Doncic surpasses Jordan with yet another triple-double – CNN
David Alaba agrees to join Real Madrid on four-year contract this summer – Yahoo
David Moyes keen not to add to list of failed West Ham strikers, warns of a ‘strong chance’ of no new signings – Yahoo
Deshaun Watson, QB’s Marketing Agent Like IG Post Linking QB to Jets Trade – Bleacher Report
Dodgers Rumors: Marcus Semien Linked to LA Amid Justin Turner Buzz – Bleacher Report
Emile Smith Rowe proud of Bruno Fernandes comparison: ‘His stats are crazy! – Yahoo
Emile Smith Rowe singles out Alexandre Lacazette as big influence on fledgling Arsenal career – Yahoo
EPL: Aubameyang double as Arsenal cruise past Newcastle – New Telegraph
EPL: Man City put four past Palace to move up to second – New Telegraph
EPL: Solskjr ‘disappointed’ with draw as Klopp defends misfiring Liverpool – New Telegraph
Euro roundup: Bayern edge past Freiburg to extend Bundesliga lead – New Telegraph
Ex-footballers query exclusion from NFF COVID-19 task force – Punch
Firmino form worrying Carragher and fears Liverpool striker could be ‘phased out – Goal
Frank Lampard: Blues benchmark has changed since Brendan Rodgers made job remark – Yahoo
Global sport’s problem with the appropriation of Indigenous culture – CNN
Golden Eaglets narrowly lose WAFU U17 Cup – New Telegraph
Golden Eaglets succumb to WAFU U17 Cup defeat – Blueprint
Gusau heads NFF’s Special COVID-19 Task Force – New Telegraph
I believe in Zlatan’ – Ibrahimovic sets new personal best as Milan eye Scudetto run – Goal
Ibrahimovic double defeats Cagliari as Milan restore three-point lead at the top – Yahoo
Ighalo wants Eagles return – The Sun
ISL 2020-21: Hyderabad vs Odisha – TV channel, stream, kick-off time & match preview – Goal
Ivory Coast edge Eaglets to win U-17 WAFU B tournament – The Cable
Ja Morant, Grizzlies Edge Chris Paul, Suns as Devin Booker Struggles – Bleacher Report
Joe Musgrove Reportedly Traded to Padres from Pirates for Multiple Prospects – Bleacher Report
Jon Lester, Nationals Reportedly Agree to 1-Year Contract in Free Agency – Bleacher Report
Kerala Blasters keeping it simple after disappointing start to the season – Goal
Kevin Durant’s Clutch 3-Pointer Lifts James Harden, Nets Past Giannis, Bucks – Bleacher Report
Lampard: Chelsea missing the personality and goals of a Costa, Hazard or Fabregas – Goal
Lampard: Drinkwater just needs to play football again after series of off-field issues – Goal
News
I Delivered $15m Agency Cash To Ex-NIMASA DG Akpobolokemi, EFCC Witness Tells Court
A prosecution witness, Captain Ezekiel Bala-Agaba, testified in a Lagos Federal High Court on Thursday, that he personally delivered $15 million in cash to former NIMASA DG, Patrick Akpobolokemi.
The witness, Bala-Agaba, a former Executive Director of Maritime Safety, Shipping Development and Marine Operations at NIMASA, made the disclosure while testifying before Justice Ayokunle Faji of the Federal High Court in Lagos.
Captain Agaba, who appeared as the 15th prosecution witness, told the court that funds meant for pipeline surveillance were withdrawn from NIMASA’s accounts, converted into dollars, and handed over to Dr Akpobolokemi.
According to him, the money was taken to a Bureau de Change, which converted it into $15 million before the cash was delivered to the NIMASA office on Burma Road, Apapa, Lagos.
He said he subsequently took the money to the office of the then Director-General.
“The money was sent to a Bureau de Change, which later brought the dollar equivalent to our office at Burma Road, Apapa, Lagos. I asked my Personal Assistant, Ekene Nwakuche, to carry the bag and follow me to the Director-General’s office,” he told the court.
The witness explained that he collected the bag from his aide before entering the office.
“When we got to the door of the Director-General’s office, I collected the bag from him and asked him to wait outside. I then personally delivered the sum of $15 million to the Director-General.”
The witness was initially a defendant in the case but later opted to testify for the prosecution.
While being led in evidence by prosecuting counsel, Suleiman Suleiman, he explained the chain of command within NIMASA and how financial approvals were processed in the agency.
According to him, the Director-General is the overall head of the agency and issues instructions to directors, who then implement policies in line with the NIMASA Act.
He told the court that he chaired the agency’s Intelligence Committee, which was responsible for certain security-related operations.
“As chairman of the committee, I oversaw its activities and reported directly to the Director-General, Dr. Patrick Akpobolokemi,” he said.
During the proceedings, the witness was also shown a document containing a letter from Access Bank to the Economic and Financial Crimes Commission (EFCC) detailing transactions in NIMASA’s accounts between 2013 and 2015.
When asked how much money he took to the former Director-General, Agaba replied: “$15 million.”
After listening to the testimony, Justice Faji adjourned the matter until April 22 and 23 for cross-examination of the witness.
The EFCC had in December 2015 arraigned Dr. Akpobolokemi and seven others before the court on a 30-count charge bordering on conspiracy, fraudulent conversion of funds and money laundering.
Those charged alongside the former NIMASA boss include, Warredi Enisuoh, Governor Juan, Ugo Frederick, Timi Alari, as well as Alkenzo Limited and Penniel Engineering Services Limited.
They pleaded not guilty to the offences.
The anti-graft agency alleged that the defendants conspired to divert funds running into over N1.15 billion under the guise of providing security intelligence in Nigeria’s maritime domain.
According to the EFCC, the NIMASA Intelligence Committee allegedly received N1,153,000,000 between December 2013 and July 2015.
Investigations further revealed that several companies contracted to execute the intelligence operations were either unregistered or lacked the capacity to perform the services, while some were allegedly linked to the defendants.
The prosecution also alleged that the defendants nominated or owned many of the companies used to execute the contracts.
One of the charges stated that the defendants conspired to commit offences punishable under the Money Laundering (Prohibition) Act, 2012.
News
CBN Bars Chronic Loan Defaulters from Accessing New Banking Services
The Central Bank of Nigeria (CBN) has issued a directive to all financial institutions to immediately restrict certain banking services for large-ticket borrowers with non-performing loans (NPLs).
This move is aimed at strengthening credit discipline and protecting the stability of the Nigerian financial system following a rise in the industry’s NPL ratio to approximately 7%, exceeding the regulatory 5% threshold.
This order is specifically targeted at large-ticket obligors.
The CBN issued the directive in a circular to banks on Monday.
The latest instruction comes almost a week after the CBN asked financial institutions to stress test.
It is uncertain if the two directives are connected or what may have triggered the loan-related instruction, but the apex bank said it furthers its mandate to protect Nigeria’s financial system.
“In furtherance of its mandate to promote a sound financial system, protect depositors, and enhance prudential compliance within the banking sector, the Central Bank of Nigeria (CBN) hereby directs all banks to restrict non-performing large ticket obligors, whose activities pose systemic risk to the financial system, from accessing specified banking services,” the circular reads in part.
“Any large-ticket obligor with a non-performing facility recorded in the CRMS and/or any licensed private credit bureau shall not be granted additional credit facilities. For the purpose of this restriction, credit facilities include loans and other forms of direct credit.
“In addition, such obligors shall not be granted banking facilities or contingent liabilities such as bankers’ confirmations, letters of credit, performance bonds, or advance payment guarantees.”
News
Makinde Only In PDP Because He’s Not Seeking Re-election – Otitoju
Babajide Kolade-Otitoju, the Director of News at TVC News, recently stated that Oyo State Governor Seyi Makinde would likely have defected from the People’s Democratic Party (PDP) if he was still serving his first term.
Otitoju stated this on Friday on TVC’s ‘Breakfast Show’.
He described the National Convention of the Peoples Democratic Party, PDP, in Ibadan last November as a mere waste of time.
“People must show good judgment at a critical phase. What was the point of having that convention? Two courts told you not to go ahead but you went ahead.
“I may not be a fan of former Senate President Bukola Saraki but if he says something that makes sense, I will be the first to admit it. He made sense when he said let’s go for caretaker. What’s the point of not listening to him?
“Later you will be shouting that the ruling party is behind your crisis, meanwhile you are the architect of your own misfortunes. You created this problem.
“If Makinde were in his first term, he would have fled like the dancing governor because his second term would have been in danger,” Otitoju said.
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