Business Briefings
Central Bank of Nigeria Orders Banks to Submit Forbearance and Capital Reinforcement Plans
The Central Bank of Nigeria has instructed banks to present detailed capital restoration strategies as part of efforts to transition out of the regulatory forbearance regime. This directive was disclosed in a circular signed by the Director of Banking Supervision, Olubukola Akinwunmi.
According to the CBN, affected banks must submit their restoration plans within ten working days after each quarter, beginning from June 30, 2025. These plans should include management’s approaches to restoring compliance, such as cost-reduction, lowering risky assets, restructuring business operations, and offloading major risks.
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The regulator stated that these plans would be reviewed and monitored closely as part of ongoing supervision. Additionally, banks are required to provide quarterly reports detailing provisioning statuses, reconciliations, capital adequacy ratios (with and without relief measures), credit migration data, and disclosures on AT1 instruments.
The CBN emphasized that these new steps are designed to ensure financial system stability and encourage responsible banking practices as Nigeria exits the forbearance framework.
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Apple’s “Campos” AI Chatbot Set to Replace Siri in Major Overhaul
Apple is gearing up for one of the most significant changes to its artificial intelligence strategy in years. The tech giant plans to replace Siri with a fully integrated AI chatbot, codenamed “Campos,” which will be built directly into iPhones, iPads, and Macs later this year. The move signals Apple’s intent to compete more aggressively…
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Nigerian Exchange Ends Thursday Mixed as Trading Volume Falls
The Nigerian Stock Exchange (NGX) closed Thursday, January 29, 2026, with a modest uptick in its benchmark indices, even as market activity experienced noticeable declines compared to the previous session. By the end of trading, a total of 550,402,871 shares changed hands across 38,635 deals, representing a market value of ₦14.14 billion. This marked a…
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Access Bank Sets Agenda for Africa Trade Conference 2026
Access Bank Plc has positioned the 2026 Africa Trade Conference (ATC) as a strategic platform to advance Africa’s role in global trade, facilitate policy dialogue, and deepen partnerships between African and international markets. Group CEO Roosevelt Ogbonna said the conference, themed “Turning Vision into Velocity: Building Africa’s Trade Ecosystem for Real-World Impact,” will gather leaders…