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Post COVID-19: CBN Gives Banks 10 Days Deadline to Submit Capital Plans
By Tony Obiechina, Abuja
As part of its broader strategy to stabilise the financial system and phase out pandemic-era reliefs, the Central Bank of Nigeria (CBN) has directed all banks to submit a detailed Capital Restoration Plan within 10 working days after the close of each quarter, beginning with June 30, 2025.
Each bank’s capital restoration plan must spell out how it intends to return to full regulatory compliance, the CBN said, stressing that it wants to see cost-cutting plans, asset quality improvements, possible risk transfers, and longer-term business strategy tweaks. The new directives were outlined in a circular signed by the Director of Banking Supervision, Dr. Olubukola Akinwunmi, published on the CBN’s website yesterday, are part of the central bank’s ongoing efforts to wind down the regulatory forbearance framework put in place during the COVID-19 crisis.The transitional framework, according to the CBN, is designed to support affected banks in restoring full prudential compliance while promoting macro-financial stability.The circular announced the termination of all COVID-19-era regulatory forbearance and waivers on Single Obligor Limits (SOL), effective June 30, 2025. This, it said, is aimed at restoring risk sensitivity in credit classification and provisioning.To support asset quality clean-up, the apex bank has temporarily waived the requirement that banks retain fully provisioned loans for one year before write-off, enabling faster Non-Performing Loan (NPL) reduction for affected banks.Additionally, the regulatory caps on Additional Tier 1 (AT1) capital recognition in the computation of Capital Adequacy Ratio (CAR) have been temporarily lifted from June 30, 2025, to March 31, 2026. The CBN clarified, however, that this move is “not a substitute” for the ongoing recapitalisation programme announced in March.The circular stated: “In continuation of its commitment to safeguarding financial system stability and ensuring a credible and orderly exit from the regulatory forbearance regime introduced during the COVID-19 crisis, the Central Bank of Nigeria (CBN) hereby communicates a coordinated set of transitional measures. These measures are designed to support affected banks in complying with prudential requirements while facilitating a smooth exit from temporary regulatory concessions.”On the capital restoration plan, it stated: “To complement the above measures and ensure forward-looking capital planning, all affected banks are required to prepare and submit a comprehensive Capital Restoration Plan to the CBN on or before the 10th working day, following the end of the quarter with effect from June 30, 2025.“The plan should detail the management’s proposed strategies to restore full regulatory compliance, including (but not limited to) cost optimisation initiatives, risk asset reduction, significant risk transfers, and necessary business model adaptations.“The plan must cover the entire period until full normalisation of capital and asset quality indicators are achieved. Plans submitted will be subject to regulatory review and approval, and will form the basis for continuous supervisory monitoring and engagement throughout the transition.”Furthermore, on guidelines issued for immediate implementation and full compliance, it stated: “ Effective June 30, 2025, all COVID-19-related regulatory forbearance and waivers on Single Obligor Limits (SOL) shall be terminated. This step is aimed at restoring risk sensitivity in credit classification, provisioning, and asset quality assessments.“Affected banks must align all impacted credit exposures with existing CBN Prudential Guidelines and other relevant regulations.“To support asset quality clean-up, the requirement to retain fully provisioned loans for one year before write-off is temporarily waived for forbearance related facilities Banks may proceed with write-offs to reduce their Non-Performing Loan (NPL) ratios, provided internal governance requirements for such write-offs are met.”Also, on restrictions on use of transitional reliefs, it stated that to ensure that retained earnings are conserved for capital strengthening and systemic risk mitigation, banks benefiting from these transitional concessions must adhere strictly to suspension of dividend payments.Besides, it listed that bonuses to directors and senior management, and investments in foreign subsidiaries, as outlined in the CBN’s circular dated June 13, 2025, should be suspended.These restrictions, it said, remain in force until capital levels and provisioning are fully restored to regulatory compliance.“To promote regulatory transparency and support supervisory oversight, all banks are required to submit the following quarterly disclosures, effective June 30, 2025: Detailed provisioning status and reconciliation of affected credit exposures.“CAR calculations with and without transitional reliefs. Classification migration data for restructured or impacted loan facilities. Comprehensive disclosure of AT1 instruments, including issuance terms, usage, and related conditions. The submission should reach the Director of Banking Supervision, not later than 10 working days following the end of the quarter with effect from June 30, 2025,” the CBN added.The CBN urged all affected banks to stay closely engaged with its Banking Supervision Department for guidance as they navigate the transition. It also said it expects banks to fully embrace the measures, stick to strong risk management practices, and help strengthen confidence and stability in the financial systemBusiness News
DBN Signs $61m Credit Deal With AfDB, Unveils Support Initiative Report
By Tony Obiechina, Abuja
The Development Bank of Nigeria Plc (DBN) has launched DAWN: DBN Action for Women in Nigeria, unveiled its Impact Report and presented MSME Data Assets at the seventh edition of Annual Lecture held in Abuja.
DBN, in a statement on Thursday, said while delivering a welcome address, its Managing Director and Chief Executive Officer, Dr Tony Okpanachi, said the central challenge was no longer reforms themselves but ensuring benefits reach businesses at end of the chain.
He asked how to make sure benefits reach traders in Onitsha, fabricator in Aba, farmer in Kebbi and young founder in Yaba, noting that MSMEs accounted for about half of Nigeria’s GDP and more than eight in every ten jobs, adding that when reform works for MSMEs it works for most Nigerians.
He explained that reform becomes prosperity only when entrepreneurs can act on it whether through long tenor loans to buy equipment, banks willing to take risk or skills and records needed to grow.
He said working through Participating Financial Institutions DBN provides longer term funding, partial credit guarantees through subsidiary Impact Credit Guarantee Limited and capacity building including Entrepreneurship Training Programme.
He disclosed that as at December 2025 DBN had disbursed a cumulative N1.4 trillion to MSMEs through 84 Participating Financial Institutions creating about 1.6 million jobs nationwide.
Under the new five year strategy, the Bank aims to reach more than two million MSMEs with deliberate targets for women led businesses, youth led businesses and underserved states.
On DAWN, Okpanachi said finance alone had not enabled enough women-led businesses to scale.
He said initiative brings together financing, guarantees and credit support, technical assistance, outcome linked grants and market linkages delivered through banks, microfinance institutions, fintechs, aggregators, cooperatives and direct channels.
Its priority sectors are agriculture and exports, healthcare, arts and creatives, technology and green business.
He said DAWN is about moving gender focused lending beyond intention and turning access into opportunity.
On the sidelines of the lecture DBN and African Development Bank held a signing ceremony of AfDB DBN 61 million United States dollars Gender Line of Credit development that reinforces Bank commitment to women led enterprises.
Okpanachi urged Participating Financial Institutions to extend lending into sectors and states where access to finance has been limited, policymakers and regulators to measure reform by what changes for business at end of chain and MSMEs to formalise, keep good records and use support now available.
The Vice President as Special Guest of Honour was represented by Dr Fred Iklaga Senior Technical Adviser in the Office of Special Adviser to the President on Economy.
Keynote speakers were Chief Executive Officer of MTN Nigeria, Dr Karl Toriola, and Chairman of Nigeria Sovereign Investment Authority, Dr Segun Ogunsanya.
Fireside chat featured Chief Executive Officer of Sterling Bank Abubakar Suleiman, manufacturing and trade entrepreneur Mrs Omoyemi Chukwurah and by video Kola Masha of Babban Gona.
The Secretary to the Government of Federation, represented by Augusta Warren Bekaredebo, said 2026 tax reforms would bring relief to many small businesses expressing optimism that a lot of businesses will be smiling by next year because they will be exempted from tax.
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NLC Threatens Nationwide Action as Talks With FG Collapse
By Tambaya Julius, Abuja
The Nigeria Labour Congress (NLC) has threatened possible nationwide industrial action following the failure of talks with the Federal Government over workers’ welfare, petrol prices and other outstanding labour demands.
The warning came after a meeting between the government and organised labour at the Ministry of Labour in Abuja on Thursday, October 22, ended without an agreement.
The congress has given the Federal Government until Tuesday, October 27, to make meaningful progress on the issues, warning that its relevant organs would decide the next line of action if the next meeting fails to produce concrete commitments.
The NLC has also directed its affiliates, state councils and civil society allies to begin mobilising members for possible nationwide action.
In a statement issued after the meeting, the NLC Acting General Secretary, Benson Upah, expressed disappointment over what he described as the government delegation’s lack of preparedness for the negotiations.
According to the congress, organised labour presented its demands in good faith but left the meeting without any concrete commitments from the government.
The demands include a reduction in petrol prices to 2024 levels, renegotiation of the national minimum wage, implementation of agreed tax relief measures and resolution of the terms of settlement involving the Joint Health Sector Unions (JOHESU).
The congress also called for the resolution of issues raised by the Joint Public Service Negotiating Council (JPSNC) over peculiar allowances, wage awards and hazard allowances.
The NLC said the government delegation lacked the necessary authority to engage meaningfully on the issues presented by labour representatives.
“The meeting between the Federal Government and organised labour, convened at the Ministry of Labour in Abuja on 22nd October 2026, has ended without resolution,” the statement said.
It added that the Minister of Labour requested that the meeting be adjourned until October 27 to allow the government to prepare adequately for further discussions.
The preparations, according to the statement, would include bringing relevant ministers and heads of departments and agencies to the negotiating table.
The congress said it remained open to dialogue but would not accept continued delays in addressing workers’ concerns.
“We will report back to our organs, and if no meaningful progress is made on Tuesday, the relevant organs of the NLC will decide the next line of action,” it said.
The labour body urged workers and members of the public to remain calm while the negotiations continue, even as it directed its affiliates and allies to prepare for possible industrial action.
“However, we urge all affiliates of NLC and TUC; all state councils and our civil society allies to be alert and start mobilising for a possible action across the nation while we hope that the tenets of our demands are met by the government,” the statement added.
The October 27 meeting is expected to provide another opportunity for both sides to address the outstanding issues and prevent a possible escalation of the dispute.
However, the NLC’s decision to begin mobilisation suggests that tensions could rise if the next round of talks fails to produce meaningful progress.
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Election Campaigns: FRSC Bars Officers from Politicians’ Escort
The Federal Road Safety Corps (FRSC) has barred its personnel from escorting politicians during campaigns for the 2027 general elections.
Zonal Commanding Officer, RS6, ACM Abimbola Owolabi, gave the directive during her maiden visit to the Cross River Command in Calabar on Wednesday.
Owolabi said patrol vehicles and sirens must not be used for political activities or private engagements, including weddings and funeral processions.
She directed officers deployed to campaign venues to focus exclusively on traffic management to prevent congestion and road crashes.
The zonal head warned personnel against leading political convoys or providing escorts for politicians, stressing that official vehicles must not be used for unauthorised purposes.


