Economy
CBN To Prosecute Bank Directors With Non-Performing Insider Loans – Experts
CBN To Prosecute Bank Directors With Non-Performing Insider Loans – Experts
CBN to prosecute bank directors with non-performing insider loans. Abanking expert, Dr Uju Ogubunka, has urged the Central Bank of Nigeria to prosecute bank directors with non-performing loans, saying the move will serve as a deterrent measure.
Mr Ogubunka, a former executive secretary, Chartered Institute of Bankers of Nigeria, said this during an interview in Lagos, on Tuesday.
He stressed that prosecuting directors associated with non-performing loans was one of the best ways of addressing the challenge.
Mr Ogubunka stated, “We expect the regulators to prosecute them in court and hope for justice, as a deterrent measure to other erring bank staff. This is a more innovative approach in tackling bad loans than just only asking the directors to resign without facing the consequences of their actions.’’
He emphasised that prosecuting bank directors associated with bad loans would enforce corporate governance and engender investors’ confidence.
Mr Ogubunka said, “This is imperative to ensure credibility in the system and foster economic growth.’
Also, President, Progressive Shareholders Association of Nigeria, Boniface Okezie, said that the CBN’s decision to check bad loans was timely.
Mr Okezie said, “Bank directors are not restrained from securing loans to advance their business interests. However, they should ensure such facilities do not end up becoming non-performing loans.
Which is not right and does not befit the status of a bank director who ought to be exemplary in his actions.’’
He stressed that the CBN’s directive would lead to sanity in the banking sector.
“This punitive measure from the regulator will ameliorate the insider abuse in the banking sector and restore trust in the system. This has been the hallmark of banking practice over the decades,” Mr Okezie said.
CBN
The CBN ordered bank directors with non-performing insider-related loans to immediately resign from their positions as part of efforts to strengthen corporate governance and reduce credit risk exposure in the banking sector.
The directive was issued in a circular signed by the acting Director of Banking Supervision, Dr Adetona Adedeji.
In the circular addressed to all banks, the apex bank mandated compliance with insider-related credit limits as stipulated in Section 19 of the Banking and Other Financial Institutions Act, 2020.
NNPC Ltd. HSE Chief Sets Tone For Industry-Wide Safety Standards
NNPC Ltd.’s Chief Health, Safety and Environment Officer, Tonye Alagba, has urged Health, Safety and Environment (HSE) personnel across the company to strengthen collaboration and build a unified HSE team.
Alagba, who made the call at the recent First Quarter 2026 HSE Council Meeting held in Abuja from 15th to 17th April, 2026, called for collective responsibility, strict compliance, and proactive prevention of HSE violations across all business units.
NNPC
NNPC Ltd. values strict HSE adherence across all its businesses and operations. The HSE Council Meeting signals the company’s broader intent to raise the bar for safety culture across Nigeria’s energy sector.
NNPC, SNEPCo, NCDMB Donate Geosciences Centre To UNILAG
NNPC Limited, in partnership with Shell Nigeria Exploration and Production Company Limited (SNEPCo), the Nigerian Content Development and Monitoring Board (NCDMB), and the University of Lagos (UNILAG), commissioned and donated the newly built UNILAG Geosciences Centre of Excellence to the University on Friday.
Purposely built to strengthen geosciences education and research in Nigeria, the Centre was inaugurated by the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services Ltd. (NUIMS), Olanrewaju Igandan, alongside the Managing Director of SNEPCo, Ronald Adams; Director of Capacity Building (NCDMB), Abayomi Bamidele; Lagos State Commissioner for Tertiary Education, Tolani Sule; and the Vice-Chancellor of UNILAG, Professor Folasade Ogunsola.
The Centre boasts of a 250-seat auditorium, geoscience and instrumentation laboratories, a rock preparation workshop, hydrogeology, mineralogy, environmental geology, sedimentary and palaeoenvironmental sciences laboratories, a seismic interpretation room, a modern library, a digital museum, and collaborative spaces for students and researchers. It is also supported by a 600 kVA transformer, a 40 kVA solar power facility, and a field investigation coaster bus.
SNEPCo, NNPC
By connecting academia, industry, and government under one roof, the Centre provides Nigerian students and researchers with hands-on access to modern energy tools, reduces the oil and gas industry’s reliance on international markets for testing and training, and builds the in-country expertise Nigeria’s energy sector needs.
NNPC Limited remains committed to driving capacity building, supporting national development, and working with partners to secure a stronger energy future for Nigeria.
NNPC: Ministers Chart Course Gor West African Gas Pipeline (WAGP)
The Committee of Ministers for the West African Gas Pipeline Project met in Abuja on Friday, reaffirming its central role in West Africa’s regional energy agenda.
The meeting brought together ministers and high-level representatives from Nigeria, Benin, Togo, and Ghana, alongside officials from ECOWAS, the West African Gas Pipeline Authority (WAGPA) and West African Gas Pipeline Company Limited (WAPCo).
Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, who opened the meeting, reaffirmed Nigeria’s commitment to the long-term sustainability and expansion of the pipeline, adding that since its inception, the WAGP has transported over 613 million MMBtu of natural gas, with Nigeria accounting for more than 68 per cent of total volumes supplied to Benin, Togo, and Ghana.
NNPC
On his part, NNPC Limited’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, emphasised the company’s active stewardship of Nigeria’s gas export commitments and its broader role in shaping regional energy cooperation across West Africa.
With gas throughput reaching approximately 80 million MMBtu in 2025, a 22 per cent rise on prior years, and discussions advancing on expanding pipeline capacity utilisation by 45 per cent in 2026, NNPC Limited remains at the centre of efforts to grow a credible, commercially viable regional gas market.
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