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The Central Bank of Nigeria has directed commercial banks in the country to submit a capital restoration plan.

The apex bank noted that the requirement is part of regulatory efforts to support the exit from the forbearance regime.

CBN Director of Banking Supervision, Olubukola Akinwunmi, made this known in a circular published on its website on Monday.

CBN explained that the Capital Restoration Plan would complement its other measures, which include termination of forbearance exposure and Single Obligor Limits waivers, suspension of payment of dividends, bonuses, and investment in foreign subsidiaries for affected banks.

CBN said, “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 is achieved.

“Effective June 30, 2025, banks are to disclose ‘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 and comprehensive disclosure of AT1 instruments, including issuance terms, usage, and related conditions.”

Accordingly, CBN added that the measures “represent a firm but supportive framework for the final phase of exiting the regulatory forbearance regime and reflect the CBN’s feat focus on macro-financial stability, responsible banking practices, and standards.”

Recall that on June 14, 2025, CBN directed Nigerian banks under regulatory forbearance to put on hold dividend payments and bonuses to foreign subsidiaries and ventures.

The development had resulted in panic in the country’s financial sector; however, CBN reaffirmed the sector’ stability.

In a report in June, Renaissance Capital had said that Zenith Bank, First Bank, Access Bank, Fidelity Bank, and FCMB have significant forbearance exposures and are among the five Nigerian banks under CBN regulatory forbearance.

English Championship club, Blackburn Rovers have completed the signing of Nigerian defender David Odogun.

The club took to their official website to confirm the signing of the defender.

Odogun, having signed the Scholarship contract, will now link up with Blackburn U18 team for the forthcoming season.

The defender spent the last five seasons at Premier League club Wolverhampton Wanderers.

In a similar development, highly-rated centre-back Silver Obinna Eze has decided to stay at Blackburn Rovers.

Eze was wanted by several Italian teams but the Nigerian eligible star has decided to remain in the Championship.

The centre-back joined Blackburn on schoolboy terms from Accrington Stanley in November 2024.

The Managing Director of EeZee Conceptz Limited, Nancy Nnadi, popularly known as Coach Nancy, has disclosed that talks are ongoing to settle the royalty dispute with Mercy Chinwo.

Nancy made this known while retracting her alleged defamatory statement against Chinwo.

Recalls that Mercy Chinwo, a popular gospel singer, dragged her former record label boss, Ezekiel Onyedikachukwu, better called Eezee Tee to court over diversion of $345,000 music royalties in January 2025.

The development came two years after she parted ways with EeZee Conceptz record label due to a disagreement over financial matters.

Amid the legal battle, the managing director of the record label, Nancy Nnadi accused Chinwo of financial misconduct.

Reacting to the allegation, Mercy Chinwo filed a defamation suit against Nnadi, and demanded public apology and removal of the posts from her social media platforms.

However, Nancy Nnadi in a post shared on her Instagram page over the weekend, retracted the allegations against the singer.

While praying that God should perfect the label’s ongoing peace settlement with Chinwo, Nnadi noted that the process is being facilitated by respected religious leaders.

“On the advice of my lawyer, and for the sake of peace and love of God, I retract my earlier post about Minister Mercy Chinwo. As well pray that Almighty God perfects ongoing settlement process being facilitated by the Fathers of Faith between her and EeZee Conceptz,” she wrote.

The Nigeria Security and Civil Defense Corps, NSCDC, Ebonyi State command, on Monday, denied connivance with other security agencies in the state to cover up the sale of a newborn baby for twenty five million naria.

Ebonyi NSCDC commandant, Mr Francis Nnadi, through the Command’s Public Relations Officer, PRO, ASCI, Emmanuella Ibeneme, made this known in a statement issued to newsmen in Abakaliki.

Nnadi was reacting to an alleged false publication by a media platform, with the title, ‘How police officers, NSCDC in Ebonyi allegedly connived to cover up sale of newborn baby for N25m’.

NSCDC boss, however described the publication by the said media platform as falsehood, fake news and unverifiable allegation targeted at misinforming the general public in the country.

The statement reads in part: “The attention of the Nigeria security and civil defense corps, NSCDC, Ebonyi State command has been drawn to a misleading and malicious report by (name withheld) alleging the involvement of the Command’s legal officer in aiding and abetting of a child trafficking/ illegal adoption case involving one Miss. Sussana Nwanneka Nweze in which she sold her baby.

“We wish to state clearly that the officer mentioned and the command has no connection whatsoever with the said allegation. The report is false, baseless and defamatory.

“The command on completion of it’s preliminary investigation has officially handed over the case to NAPTIP, a government agency that has the mandate to handle and prosecute such cases

“The command demands that the media house involved (name withheld) to issue and immediate retraction of the said report and a public apology within 48 hours.

“Failure to do so will attract legal action. We strongly caution the media house involved and others to always verify all facts before publication.

“Responsible journalism requires balanced reportage as the public shouldn’t be fed with fake or unverified information.

“We remain committed to justice and the provision of effective and efficient security services to the government and good people of Ebonyi State.”

The United States Mission in Nigeria has announced the commencement of fresh guidelines for all applicants for F, M, and J nonimmigrant visas seeking to study or participate in exchange programmes in the US.

The consulate noted that all F, M, and J nonimmigrant visas must now adjust their social media accounts’ privacy settings to “public,” in its new social media rule.

The mission stated that applicants in those categories must now set their personal social media profiles to public as part of a new visa requirement.

This was made known on the United States Diplomatic Mission Nigeria’s official X page on Monday.

The US embassy noted the update was effective immediately.

“Effective immediately, all individuals applying for an F, M, or J nonimmigrant visa are requested to adjust the privacy settings on all of their personal social media accounts to ‘public,'” it read.

According to the consulate, the change is meant to complement vetting efforts aimed at determining applicants’ identities and their admissibility to the United States.

Recall that on June 18, 2025, the US Department of State published on its website that under the new guidance, which would require the vetting of F, M, and J nonimmigrant classification applicants social media accounts.

The US had maintained that its visa “is a privilege, not a right.”

The Nigerian National Petroleum Company Limited said it presented 35 compressed natural gas buses to the federal government-backed Presidential Initiative on CNG on Monday.

The state-owned oil firm disclosed this in a statement on Monday through its X account.

According to NNPCL, the presentation ceremony occurred at its headquarters in Abuja on Monday.

The firm noted that the move is aimed at deepening gas utilisation and supporting Nigeria’s transition to cleaner, more affordable energy for transportation.

“Earlier today, Group CEO of NNPC Ltd., Engr. Bashir Bayo Ojulari, presented 35 CNG-powered buses to the Presidential Initiative on Compressed Natural Gas (Pi-CNG) at the NNPC Towers in Abuja.

“The buses were received by Mr. Michael Oluwagbemi, CEO of Pi-CNG, in a ceremony that demonstrates NNPC Ltd.’s strategic commitment to deepening gas utilisation and supporting Nigeria’s transition to cleaner, more affordable energy for transportation.

“This milestone reflects a bold step towards reducing Nigeria’s carbon footprint, enhancing energy security, and providing long-term socio-economic benefits for Nigerians.

“Through partnerships like this, NNPC Ltd. continues to lead the charge in accelerating the national gas expansion programme and powering the future with sustainable solutions,” NNPCL stated.

The Central Bank of Nigeria has directed commercial banks in the country to submit a capital restoration plan.

The apex bank noted that the requirement is part of regulatory efforts to support the exit from the forbearance regime.

CBN Director of Banking Supervision, Olubukola Akinwunmi, made this known in a circular published on its website on Monday.

CBN explained that the Capital Restoration Plan would complement its other measures, which include termination of forbearance exposure and Single Obligor Limits waivers, suspension of payment of dividends, bonuses, and investment in foreign subsidiaries for affected banks.

CBN said, “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 is achieved.

“Effective June 30, 2025, banks are to disclose ‘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 and comprehensive disclosure of AT1 instruments, including issuance terms, usage, and related conditions.”

Accordingly, CBN added that the measures “represent a firm but supportive framework for the final phase of exiting the regulatory forbearance regime and reflect the CBN’s feat focus on macro-financial stability, responsible banking practices, and standards.”

Recall that on June 14, 2025, CBN directed Nigerian banks under regulatory forbearance to put on hold dividend payments and bonuses to foreign subsidiaries and ventures.

The development had resulted in panic in the country’s financial sector; however, CBN reaffirmed the sector’ stability.

In a report in June, Renaissance Capital had said that Zenith Bank, First Bank, Access Bank, Fidelity Bank, and FCMB have significant forbearance exposures and are among the five Nigerian banks under CBN regulatory forbearance.

English Championship club, Blackburn Rovers have completed the signing of Nigerian defender David Odogun.

The club took to their official website to confirm the signing of the defender.

Odogun, having signed the Scholarship contract, will now link up with Blackburn U18 team for the forthcoming season.

The defender spent the last five seasons at Premier League club Wolverhampton Wanderers.

In a similar development, highly-rated centre-back Silver Obinna Eze has decided to stay at Blackburn Rovers.

Eze was wanted by several Italian teams but the Nigerian eligible star has decided to remain in the Championship.

The centre-back joined Blackburn on schoolboy terms from Accrington Stanley in November 2024.