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CBN Barks, to Publish Names of Chronic Bank Debtors

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Central Bank of Nigeria (CBN) said it would publish the names of chronic bank debtors and waxed worriedly about the growing amount of non-performing loans in the books of banks in the country.

The apex bank and banks, under the aegis of the Bankers Committee, have also decided to bar bad debtors from purchasing foreign exchange in the interbank foreign exchange market.

These were the major fallouts of the 321st meeting of the Bankers’ Committee in Lagos.

Mrs. Tokunbo Martins, director, Banking Supervision, CBN, at a press briefing after the said the central bank, in collaboration with the committee, had also decided to stop the serial debtors from buying foreign currencies at the official interbank foreign exchange market.

Also to be stopped from buying foreign currencies, according to her, are members of the board of directors of debtor companies as well as their subsidiary firms.

She recalled that the Asset Management Corporation of Nigeria had spent a fortune to buy toxic assets from the banks’ books in the past and that it was important to stage timely interventions to forestall a repeat of past mistakes.

Martins said, “So, it was decided that going forward, one thing that we will do is to stop them (chronic debtors) from getting access to foreign exchange. Another thing that we also considered doing is to publish the names of the borrowers that refuse to pay up. This is to ensure the continuous safety and soundness of the banking industry.

“It is not all debtors, it is the bad and chronic debtors; those ones that have deliberately refused to pay; those are the ones we are talking about. Now, in the industry we have a standard, we don’t want the NPLs to be more than five per cent of the total loan in the industry.

“The total loan in the industry is in the region of N13tn to N15tn. Right now, we have not reached the upper limit of five per cent, but we don’t want to get there. That is why we decided that we need to come out with this measure. Currently, the industry average of non-performing loans is at 3.3 per cent and we don’t want to get to five per cent; that is why we came up with this measure.”

She said the CBN, in collaboration with the Bankers’ Committee, had laboured to keep the banking industry safe and sound, and that there was a need to ensure the continued safety of the banks.

Emeka Emuwa, managing director and CEO Union Bank Plc, said the amount spent by naira debit cardholders overseas was rising fast and the banks were beginning to notice some arbitrate in the segment.

Consequently, the CBN and the Bankers’ Committee will slash the annual allowable drawdown for each bank customer, according to him.

The current annual allowable drawdown is $150,000 per customer but Emuwa did not specify the amount it would be slashed to.

He said, “We did find that in a number of cases, people were using the cards in manners that were not expected of them and there have been some arbitraging going on. So, in order to sustain stability, what was agreed by the committee was that the limits for the use of the naira debit cards would be reduced.

“As a customer, if you have a dollar account, you will still have unfettered access to it; but for naira debit accounts, the limits will be reduced to more judicious levels. This specifically refers to the use of these banks’ products abroad, because when they are used abroad, the merchants have to be settled.

“Even if it is the Automated Teller Machines, the service provider, Visa or MasterCard has to be settled in foreign currencies and we find that it is a drain on the foreign resources available to finance our industries. So, there is going to be a reduction in the annual allowable drawdown using naira debit cards abroad.”

Also speaking Mrs. Bola Adesola, managing director, Standard Chartered Bank Nigeria, said the foreign exchange market was safe and sound, and was already moving towards a near convergence of rates in the various segments.

This, she said, was as a result of the positive actions taken in the past by the central bank and the committee.

“As you are all aware, in the last couple of months, several methods have been taken by the CBN and the banks to try and attain some stability in the foreign exchange market. This has been achieved because the demand for foreign currencies by businesses has been continually met. All genuine demands for foreign currencies have been met by the CBN,” Adesola said.

Also at the press conference were Mr. Omar Hafeez, Chief Executive of Citibank Nigeria; and Alhaji Ibrahim Muazu, CBN Director of Corporate Communications.


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E-Financial

Fidelity Bank “Basking in Approval” under Onyeali-Ikpe, CEO

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Fidelity Bank Plc is basking in endless and stakeholders are happy.

Fidelity Bank "Basking in Approval" under Onyeali-Ikpe, CEO

Dr. Nneka Onyeali-Ikpe, managing director and chief executive officer, Fidelity Bank Plc

With nearly 10 million customers, Fidelity Bank is demonstrating excellent market traction.

This a crucial evidence for investors that the bank is solution driven.

For instance, at the capital market, the bank was the toast of investors as  its market value surged amid bargain hunting on the Nigerian Exchange, with investors gaining more than 11 percent after few days of tradings last week only.

Fidelity Bank’s share price increased to N22.30 at the close of the market last Friday, as 11.227 million units valued at N251.523 million.

Investors are simply reacting positively to strong earnings, technology-driven growth, and strategic expansions.

Fidelity Bank, emerged a more robust financial institution after the Central Bank of Nigeria (CBN) and  the Securities and Exchange Commission (SEC) ordered massive banking recapitalization exercise.

Dr. Nneka Onyeali-Ikpe, managing director and chief executive officer, Fidelity Bank Plc, is being credited for driving these exceptional shareholder value, operational performance, and sustainable growth.

Despite the immense responsibility and intense pressure, especially during turbulent times,  Onyeali-Ikpe, has been strutting her stuff by strategic vision and exemplary leadership.

Onyeali-Ikpe has built Fidelity Bank as beacon in the banking industry underpinning the bank with trust, innovative technology, strategic growth, and strong leadership as well as  reputation.

She has broken every glass ceilings delivering milestones and solid imprints in the annals of banking.

The bank only recently completed CBN-verified share allotment, hitting N532 billion capital.

This heavy chest now guarantees the bank long-term stability, and enabling it operate with speed.

Since appointment on January 1, 2021, Onyeali-Ikpe, has-anchored the bank on bespoke digital, financial, and technology-driven tools designed to enhance customer experience.

By integrating AI, automation, and advanced data analytics, Fidelity Bank is today delivering solution banking.

Under Onyeali-Ikpe’s leadership, the bank has significantly improved brand equity.

Fidelity Bank also announced the completion of the acquisition of a 100 per cent stake in Union Bank UK, under the CEO.

A recent Brand Finance report ranked Fidelity Bank as the fastest-growing Nigerian brand, with its brand value more than tripling.

Onyeali-Ikpe was also named among the 2024 Most Influential Global Top 100 Export and International Trade Leaders, recognizing her contribution to expanding Nigeria’s trade and export financing capabilities.

Under her, Fidelity Bank has received multiple awards, including Export Finance Bank of the Year (2023 BAFI Awards), Best Payment Solution Provider Nigeria 2023, and Best SME Bank Nigeria 2022 (Global Banking and Finance Awards).

The bank was also recognized by Euromoney for Best Bank for SMEs (2023) and Best Domestic Private Bank in Nigeria (2023).

Onyeali-Ikpe will be leaving as head of the bank this year but her record of placing the institution  upward trajectory will be indelible.

She may be leaving “big shoes to fill” because of her high-energy, infectious positivity which made her successful in everything she does.

 

 

 

 


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FCMB, BHM Champion New Revenue Models for Media Sustainability

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First City Monument Bank (FCMB), in partnership with BHM, hosted the pilot edition of The Monetised Content Masterclass, bringing together reporters, content creators and editors to address growing pressure on the sustainability of newsrooms and media platforms.

FCMB, BHM Champion New Revenue Models for Media Sustainability

L-R: Adeola Adejokun, Head, Communications, First City Monument Bank; Chris Ihidero, Award-winning Director and Producer; and Diran Olojo, Divisional Head, Corporate Affairs, First City Monument Bank, during the Monetised Content: A Media Masterclass Presented by FCMB and BHM, in Victoria Island. Lagos on Monday, April 20, 2206.

The session comes at a time when traditional advertising revenues are declining for news publishers, even as Nigeria’s entertainment and digital media market continues to grow and is projected to reach $4.9 billion by 2026.

Against this backdrop, the masterclass focused on practical ways for media organisations, independent content creators, and digital platform owners to diversify income, build financial resilience, and sustain editorial independence and integrity.

Participants explored revenue opportunities beyond traditional advertising, including brand partnerships, digital content monetisation, and audience-led models. The one-day session featured panel discussions, Q&A sessions, and peer exchanges designed to translate industry trends into practical action.

Speaking at the event, Divisional Head, Corporate Affairs, FCMB Group, Diran Olojo, said: “Traditional models are under pressure, and attention is more fragmented than ever. The focus now is on building structured, sustainable platforms that can deliver both impact and long-term value.”

Also speaking, CEO and Founder of BHM, Ayeni Adekunle, said: “The economics of media have changed. For journalism to remain independent, it must also become financially resilient. That shift requires new thinking and deliberate action.”

The session was moderated by Fatu Ogwuche, Founder and CEO of Big Tech This Week, and featured speakers including investigative journalist Fisayo Soyombo, storyteller and producer Chris Ihidero, executive and storytelling expert Jennifer Mairo, and digital media entrepreneur Peter Oluka.

The initiative reflects a shared commitment by FCMB and BHM to support the long-term sustainability of the Nigerian media ecosystem through capacity building and industry collaboration.


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CRMI Backs CBN’s New Measures to Curb Fraud

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Chartered Risk Management Institute of Nigeria (CRMI) has backed recent regulatory measures by the Central Bank of Nigeria (CBN) aimed at strengthening the security of the country’s digital financial ecosystem, while urging stricter compliance across the banking industry.

CRMI Backs CBN’s New Measures to Curb Fraud

Kevin Ugwuoke, president and chairman of Council,  in a statement, described the new framework as a timely and proactive response to rising risks such as fraud, identity theft, and unauthorised access within the instant payment system.

He noted that key safeguards introduced by the apex bank including a N20,000 transaction limit on newly activated mobile banking applications within the first 24 hours, mandatory device binding, and real-time enterprise fraud monitoring are designed to reduce vulnerabilities associated with account takeovers, especially during the early stages of account activation.

“By limiting transaction exposure during the high-risk activation window, the framework significantly reduces the opportunity for fraudsters to exploit newly onboarded or compromised accounts,” Ugwuoke said.

The institute, however, stressed that the success of the measures would depend largely on effective implementation.

It called on banks, fintech firms and payment service providers to strengthen cybersecurity infrastructure, invest in fraud analytics and prioritise staff training as well as customer awareness.

CRMI also welcomed the introduction of the Nigerian Overnight Financing Rate (NOFR), describing it as a major step toward standardising overnight funding rates, deepening financial markets and improving monetary policy transmission in line with global best practices.

The endorsement comes as the CBN unveiled a draft revised Guide to Charges for Banks and Other Financial Institutions, 2026, signalling a broader shift toward transparency, consumer protection and efficiency in the financial system.

The revised guide introduces caps on key banking charges and mandates stricter disclosure requirements.

Under the framework, interbank transfers between N5,000 and N50,000 are capped at N10, while transactions above N50,000 attract a maximum of N50, with transfers below N5,000 remaining free.

The apex bank also standardised ATM withdrawal charges, pegging fees at N100 per N20,000 for on-site withdrawals from other banks’ machines, while off-site transactions may attract an additional surcharge of up to N500, subject to disclosure at the point of use.

In a bid to protect borrowers, the regulator directed that all lending rates be presented as Annual Percentage Rates (APR), ensuring full disclosure of interest and associated fees.

 


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