News
Major Banks May Halt Dividends Till 2028

Access Holdings Plc, Zenith Bank Plc, and First Bank Holdings may suspend dividend payments until 2028, as Nigeria’s top banks confront regulatory pressure to rebuild capital buffers to fully provide for legacy forbearance exposures, according to a new report by Renaissance Capital.
The report, released June 16, follows a directive by the Central Bank of Nigeria (CBN) on June 13, which instructed banks to pause dividends, defer executive bonuses, and halt offshore expansion until they’ve adequately provisioned for forbearance loans and resolved breaches of single obligor limits.
Renaissance analysts say the order could result in a multi-year dividend drought for some of the country’s largest lenders.
“Our base case is that the banking arms of AccessCorp, ZenithBank, and FirstHoldco will not resume dividend payments before 2028,” the note said. “Most of their near-term cash flows will be directed towards absorbing provisioning costs and recapitalisation.”
Although these lenders reported strong accounting profits in 2024 — N635 billion for Access and N867 billion for Zenith — both posted negative cash profits, largely due to unrealised interest income on Stage 2 loans and FX revaluation gains.
FirstHoldco’s cash position also turned negative in Q1 2025, following challenges with a single large non-performing loan.
GTCO, by contrast, fully provisioned its exposures earlier and is expected to maintain uninterrupted dividend payments, supported by positive cash profits of N1.2 trillion in FY24.
UBA is also expected to resume payouts by 2026, given its manageable exposure and steady liquidity.
According to the report, six lenders hold a combined forbearance exposure of $3.5 billion with Zenith Bank being the most exposed.
“We estimate regulatory forbearance exposures at $304 million, $887 million, $134 million, $296 million, $282 million, and $1.6 billion for ACCESSCORP, FIRSTHOLDCO, FCMB, FIDELITYBK, UBA, and ZENITHBANK, respectively,” the report shows.
The dividend suspension comes amid additional strain from the CBN’s move to raise the Cash Reserve Ratio (CRR) to 50 percent, which Renaissance estimates cost the banking sector N840 billion in income last year alone.
With just 20 percent of customer deposits left deployable for lending, analysts warn the capital build-up may not translate into real credit growth.
“The 50% CRR regime is proving more detrimental to banks’ profitability and liquidity,” the analysts said in the report.
”From an operational perspective, a CRR reduction would enhance banking sector liquidity, reduce reliance on commercial paper issuance for liquidity management, and improve overall financial system efficiency.”
Businessday.ng
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Atiba Varsity Tasks New Staff, Places Premium On Academic Excellence

The Vice Chancellor of Atiba University, Oyo, Professor Sunday Okeniyi, has enjoined the newly employed staff of the institution to develop the spirit of teamwork, respect, and discipline, which are the hallmarks of every successful institution.
Okeniyi disclosed this during the orientation programme for the newly employed staff of the institution.
While welcoming the newly employed staff, he also congratulated them on their successful appointment into the fast-rising institution. “Your joining us today is not by chance, but by merit, commitment, and the will of God. Atiba University is a citadel of learning and character formation, envisioned to nurture and produce men and women of excellence, integrity, and service. By becoming part of this family, you are now co-builders of this noble vision.”
The V-C said the orientation programme was a deliberate initiative of the management to formally integrate the new staff into the University system. “It is designed to give you a clear understanding of our mission, vision, core values, rules, and operational culture. Our goal is not just for you to work here, but for you to thrive, contribute meaningfully, and leave an indelible mark on the growth and transformation of this University.”
He explained that the university places a premium on academic excellence, innovative research, moral uprightness, and community development. These values define the identity and are the standards the staff must all uphold in their respective assignments—whether as academic staff shaping young minds or as non-teaching staff providing essential support services that make our work possible.
While admitting much needed to be done, Okeniyi said the institution has recorded remarkable progress within a short time. “The future we envision—a future of global competitiveness, leadership in innovation and knowledge, and impact within and beyond Nigeria—requires the collective commitment of every member of staff. That includes you. Your dedication, creativity, and professionalism are needed to propel us forward,” he said.
News
This Is War, Kill Every Single One Of Them – Fani-Kayode Blows Hot Over Zamfara Mosque Massacre

Former Aviation Minister Femi Fani-Kayode has condemned the gruesome murder of five worshippers during an early morning prayer in Yandoto village, Tsafe Local Government Area of Zamfara State.
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Speaking via his 𝕏 account, he insisted that the killers should be wiped out, adding that there should be no room for discussions or negotiations.
Fani-Kayode asserted that the killers are terrorists not bandits and described their actions as an act of war.
He wrote: “These are not bandits. Pls stop calling them bandits. They are bloodthirsty killers and terrorists and every single one of them should be wiped off the face of the earth.
“If our people cannot worship God in peace then we have nothing. No negotiation, no discussion, no ransom payments, no rehabilitation.
“This is WAR. Kill every single one of them, wipe out their blood line and decimate their communities and abodes. There is no place on earth for those that slaughter innocent civilians.”
Meanwhile, the Peoples Democratic Party (PDP) in Kwara State has accused Governor AbdulRahman AbdulRazaq of failing to address the escalating banditry crisis in the state.
Naija News reports that a deadly attack occurred on Sunday in Oke-Ode, Ifelodun Local Government Area, which left several residents and vigilante members dead.
Speaking via a statement on Monday, the Publicity Secretary of the party, Olusegun Olusola Adewara, described the massacre as “a despicable and senseless act.”
He blamed the governor for the insecurity situation in the state, noting that it is a monumental leadership failure.
Adewara said, “The gruesome videos of the casualties circulating online make it look like Kwara is now at war. Under AbdulRahman’s watch, terror is reigning, kidnappers are taking over rural villages, and nowhere is safe again.”
The opposition party faulted AbdulRazaq’s alleged silence and absence from the affected community, insisting that a responsible leader should have personally visited Oke-Ode to commiserate with victims’ families and give assurances of decisive action.
It further accused the governor of neglecting local vigilantes and security personnel “battling criminals in the bush,” while diverting funds to “footballers and entertainers outside the state.”
The PDP’s criticism comes amid rising concern in Kwara North, where repeated bandit attacks have forced residents to abandon farms, schools, and businesses.
News
Nigeria @65: Atiku Knocks Tinubu’s Government In Strongly-Worded Independence Day Message; Details Emerge

Former Vice President Atiku Abubakar, has praised Nigerians for what he described as “uncommon patience, endurance, and resilience despite living under suffocating socio-economic and security conditions”
In his Independence Day message to Nigerians, the opposition leader alleged that the ruling All Progressives Congress (APC) administration had abandoned Nigerians to their fate
Atiku lamented that Nigerians were enduring pains from “raging insecurity, rising food scarcity, mass unemployment, and a dangerous climate of hopelessness all “compounded by the insensitivity of the APC-led administration
In an Independence Day message released by his media office, obtained by Legit.ng, Atiku lamented that Nigerians are enduring excruciating pains from raging insecurity, rising food scarcity, mass unemployment, and a dangerous climate of hopelessness.
The presidential hopeful accused the Tinubu administration of being insensitive to the plight of Nigerians.
Atiku declared: “It is tragic that in a country blessed with immense human and material resources, millions of our people have been reduced to refugees and beggars in their fatherland. Every responsible government holds the welfare and security of its citizens as supreme. But what we have today is an administration that has abandoned its people. Hunger is killing Nigerians, bandits are massacring communities, yet President Tinubu and his cabinet stand by, unmoved and uncaring.”
Furthermore, Atiku called on citizens not to lose faith, reminding Nigerians that the 2027 election provides a clear opportunity to reject bad leadership and reclaim the promise of a better tomorrow.
He said: “The beauty of democracy lies in the power of the ballot. Oppressed and battered as our people may feel today, they will have the chance to sweep away this inept government at the next polls. That is the power no cabal can take away from the people.”
At 65, Atiku noted, Nigeria remains “a giant moving painfully slow on feet of clay”.
The 78-year-old blamed Nigeria’s condition on “a direct result of decades of poor leadership and wasteful governance.”
He bemoaned: “Yet, he urged Nigerians to keep hope alive, insisting that with the right leadership, the country can still rise from the ashes of failed governance to reclaim its rightful place among the comity of nations.”
PRESS RELEASE
Nigeria @65: @atiku Hails Nigerians’ Courage, Blasts APC Over Economic Strangulation
Former Vice President of Nigeria and Waziri Adamawa, Atiku Abubakar, has paid tribute to the uncommon patience, endurance, and resilience of Nigerians who, despite living under… pic.twitter.com/cPnI9KzxrJ
— Paul Ibe (@omonlakiki) September 30, 2025