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CBN To Set Guidelines On Margin Lending

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Central Bank of Nigeria on Thursday said it would soon issue guidelines on margin lending to prevent the kind of reckless lending that contributed significantly to the crisis in the Nigerian banking sector.

The CBN Governor, Mr Lamido Sanusi, said, during a news conference that the sector entered a crisis situation, partly because the CBN, as the regulator, lacked both the capacity and will to supervise the banks.

Banks lost about N1m after the stock market bubble, fuelled by a lending spree to stockbrokers, bank subsidiaries and individuals for stock purchases, burst in 2008.

Citing examples of regulatory lapses, Sanusi said there had been no guideline on margin trading, adding that “for instance, the Financial Sector Regulatory Committee did not meet for three years and no one talked.

He observed that the major issues in sector centred around corporate governance, saying banks were controlled by their chief executive officers rather than the boards.

He said, there was no risk management framework, and there was lack of investor/consumer sophistication. People were buying bank’ stocks without knowing the reasons for doing so.

He added, when you have someone responsible for financial system stability or surveillance, who has never worked in a bank, it is difficult to expect him to  now what makes the banks run.

Sanusi noted that the reforms in the sector were based on four pillars enhancing that quality of banks ensuring financial stability, ensuring good financial sector evolution and putting in place a system to ensure that the financial sector continued to contribute to the economy.

He said the financial market division of the CBN had been strengthened,adding that the apex bank was also working closely with the Ministry of Finance to ensure stability.

The CBN governor said the Asset Management Company, expected to take toxic assets off banks balance sheets, would take off with N1m when the bill was passed.

In his speech, the Minister of State for Finance, Mr Remi Babalola, said to initiate the kind of reforms embarked upon by the CBN governor required an unusual boldness and the kind of political zeal you don’t find in environments like this.

He also disclosed that the Nigerian Deposit Insurance Corporation had alerted the Ministry of Finance of developments in the banking sector before the recent crisis.

The NDIC wrote to us to tell us that there were serious issues in the banking industry. They named specific banks and talked about the proportion of loan book in the capital market, he said, adding that in circumstances like this, discussions were stalled because the other regulator would not agree with the others position.

He, however, expressed the ministry’s full support for the banking reforms, saying that, we are committed to higher regulatory and supervisory standards in all segments of the financial services industry.

Our overall focus is economy. We will collaborate with the CBN to fast track the establishment of the AMC and ensure that we safeguard the banks.

We will give the CBN that governmental support it needs at any point in time without jeopardising confidence in the system. On his part, Acting Managing Director/Chief Executive Officer, NDIC, Alhaji Umaru Ibrahim said 89 NDIC examiners, in addition to those CBN, were currently in the 24 banks to re-ascertain the financials of the banks.

He also said the corporation had already set in motion, the process of reviewing its act to accommodate provisions that would enhance its effectiveness.

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NPA Assures On Staff Welfare 

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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