Monday 15th August 2016

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CBN Conducts Special Examination on Banks Eyes on NBS as Kale’s tenure ends today

Obinna Chima In order to ascertain the actual well-being of banks owing to the nation’s macroeconomic challenges and rising non-

performing loans (NPLs), the Central Bank of Nigeria (CBN) is currently carrying out examination on banks. At the end of the exercise, the banking sector regulator

said, it would determine how best the industry should be supported. The Director, Banking Supervision, CBN, Mrs. Tokunbo Martins, disclosed

this in response to enquiries from THISDAY. Banking sector NPLs have been predicted to jump to 12.5 per cent of the total loans of the banks this year, up from

the central bank’s target level of five per cent at the end of last year, according to Agusto & Co, Nigeria’s main rating agency. This is even worsened by

the weakening consumer confidence and slide in the country’s Gross Domestic Product (GDP). Continued on page 8

Beloxxi Industries Limited Closes $80m Equity Investment Deal...

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Monday 15 August, 2016 Vol 21. No 7780. Price: N250

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Boko Haram Accuses Airforce of Killing Abducted Chibok Girls It’s not true, Defence Headquarters Army declares journalist, two others wanted We are in touch with Shekau, says FG (See THISDAY transcript of video inside) Continued on page 8

A DV E RTO R I A L


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