Regulatory Forbearance: CBN Directs First Bank, Others to Suspend Dividend Payments, Bonuses Ndubuisi Francis in Abuja
The Central Bank of Nigeria (CBN) has directed First Bank and other banks under regulatory forbearance to temporarily suspend dividend
payments, defer bonuses for directors, as well as halt investments in foreign subsidiaries or offshore ventures. Forbearance refers to the temporary reduction or postponement of payments, such as for loans or
mortgages, usually introduced to give temporary relief to individuals, and corporations, including financial institutions encumbered by financial straits. As at press time, First Bank and
others have not been released from regulatory forbearance. The Director of Banking Supervision, CBN, Olubukola Akinwunmi, said in a circular issued at the weekend that the directive
seeks to strengthen capital buffers and promote prudent capital retention across the sector. The banking sector regulator, which also directed the affected banks to halt new investments in foreign
subsidiaries or offshore ventures, stated that the fresh move targets lenders benefiting from forbearance on credit exposures and single obligor Continued on page 5
Damagum, Anyanwu to Lose Positions in PDP NWC as Diri’s Committee Swaps Offices Among States…Page5 Sunday, June 15, 2025 Vol 30. No 11025
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Outrage as Herdsmen Kill Over 100 in Fresh Attacks on Benue Communities George Okoh in Makurdi
L-R: Former Minister of Foreign Affairs, High Chief Tom Ikimi, Representatives of Lagos State Governor and Commissioner for Women Affairs and Poverty Alleviation, No fewer than 100 persons were Mrs. Bola Dada; Celebrant, Dame Marie Fatayi-Williams; Catholic Archbishop of Lagos, Most Reverend Alfred Adewale Martins; Husband to the celebrant, Dr. Allan feared killed by gunmen suspected Fatayi-Williams; Wife of Lagos State Governor, Dr Ibijoke Sanwo-Olu; and Matriarch of the Ikimi family, Mrs. Grace Esohe Conde, during the thanksgiving mass service of the 70th birthday celebration for Mrs. Fatayi-Williams at the Catholic Church of the Assumption Falomo, Ikoyi, Lagos...weekend ABIODUN AJALA Continued on page 5
Trump Considers Inclusion of Nigeria, 35 Other Countries on Travel Ban List African nations constitute nearly 70% of new line-up US gives affected countries 60 days to meet new benchmarks
STRATEGIC CONSULTATION…
See story on page 5
L-R: Former Governor of Ekiti State, Mr. Ayodele Fayose; Minister of the Federal Capital Territory, Mr. Nyesom Wike; President Bola Ahmed Tinubu; former Governor of Benue State, Dr. Samuel Ortom; and former Governor of Abia State, Dr. Okezie Ikpeazu, after a meeting with the president at the Presidential Villa, Abuja…yesterday.