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CBN bans linked financial entities from extending loans to each other

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CBN

By Elizabeth Adegbesan

The Central Bank of Nigeria, CBN, has banned closely linked financial entities from extending loans or guaranteeing the obligations of one another without the bank’s prior approval.

The apex bank disclosed this, yesterday, in its Exposure Draft on ring-fencing operations of closely linked entities in the Nigerian financial system.

The apex bank stated: “Except with the prior written approval of the CBN, no closely linked entity shall extend a loan to, or guarantee the obligations of another.”

The guidelines also outlines measures to address different licence categories; mitigate risks from the co-mingling of customer funds with those of closely linked entities; provide additional governance requirements for closely linked entities; and support orderly resolution of distressed closely linked entities.

The guidelines stated, among other key principles, that closely linked entities shall operate independently and shall maintain adequate level of capital and liquidity resources sufficient to operate independently.

On other ring-fencing measures, CBN said: “The board of a closely linked entity shall ensure that the entity is legally, structurally and operationally independent of other entities that it is closely linked to.

“Each closely linked entity shall maintain its own governance, risk-management and control framework, including a dedicated Board.

“The boards of closely linked entities shall ensure that transactions between such entities are conducted at arm’s length and are properly documented.”

The apex bank warned that breach or failure to comply with the provisions of the guidelines shall attract appropriate sanctions, including penalties, replacement of management, and or revocation of licence in line with Bank and Other Financial Institutions Act, BOFIA 2020, and other relevant extant regulations.

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NNPCL, security agencies intensify crackdown on pipeline vandals

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NNPCL, security agencies intensify crackdown on pipeline vandals

By Udeme Akpan &  Obas Esiedesa

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and security agencies have intensified efforts to combat pipeline vandalism following the discovery of a damaged section of the Nigerian Pipelines and Storage Company (NPSC) crude oil pipeline at Pai Community, Kwali Area Council of the Federal Capital Territory (FCT), Abuja.

The joint inspection involved NNPC’s Industry-wide Security Architecture (IWSA), NPSC, the Office of the National Security Adviser (ONSA) Special Prosecution Team (SPT), the FCT Police Command, the Nigerian Army and other security stakeholders.

The exercise was aimed at assessing the extent of damage, advancing investigations and strengthening coordinated measures to protect critical national energy infrastructure from economic sabotage.

The visit followed the arrest of three suspected pipeline vandals in Piri and Pai communities through a joint operation involving ONSA’s Special Prosecution Team, the FCT Police Command and NNPC Ltd.’s IWSA.

NPSC, a subsidiary of NNPC Ltd., operates more than 5,000 kilometres of crude oil and petroleum products pipelines across Nigeria. However, pipeline attacks have increased in recent years, with criminal groups targeting infrastructure for illegal removal and theft.

Industry records show that 19 pipeline vandalism cases were recorded in 2025, leading to the theft of about nine kilometres of pipeline sections along the Enugu-Makurdi-Yola route and the Piri-Izom section of the Warri-Kaduna pipeline corridor.

So far in 2026, five cases have been reported, including incidents around Piri-Kwali and Gwagwalada along the Warri-Kaduna crude oil pipeline route, as well as Badanga on the Jos-Gombe pipeline corridor.

Speaking during the inspection, Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Bayo Ojulari, represented by Chief Interface Officer, Dahiru Sani-Gwarzo, said the arrests represented an important step towards dismantling criminal networks behind attacks on energy infrastructure.

He said the security architecture was focused not only on apprehending those directly involved but also identifying sponsors and receivers of stolen pipeline materials.

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MTN Nigeria committed to transparency, consumer education  — CEO

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MTN’s public offer of 575m shares ends

By Peter Egwuatu

MTN Nigeria, MTNN Plc, has expressed its commitment to transparency and consumer education in its drive to strengthen trust, and promote greater digital literacy as data continues to play a central role in everyday life.

Dr Karl Toriola, Chief Executive Officer, MTNN, stated this at its public engagement platform code-named  Data on Trial  designed to address consumer concerns about mobile data usage, billing transparency, and digital consumption, stressing that the organisation is committed to transparency in both its financial performance and operations since it is a quoted company on  Nigerian Exchange Limited, NGX.

He stated: “Data on Trial  was created based on a simple belief. Trust, with our customer, grows when they are given access to the information and they are allowed to make up their mind about it. Today’s event is an opportunity for everyone to understand the facts, understand the technology behind what delivers technology in real time, and to ask the most difficult questions and hear different perspectives”.

Throughout the event, MTN’s technical experts responded to questions frequently raised by consumers, including concerns around data depletion, billing accuracy, background application activity, automatic updates, cloud synchronisation, video streaming, and multi-device connectivity.

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Brevity Anderson, EICBI partner across Africa, Europe, India

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Africa map

By Sebastine Obasi

Brevity Anderson UK and the Europe-India Centre for Business and Industry (EICBI) have formally executed a strategic Collaboration and Services Agreement establishing a framework for long-term cooperation in trade facilitation, investment promotion, stakeholder engagement, and international commercial development across Africa, the European Union, and India.

The Agreement provides for collaborative activities including trade delegations, business matchmaking initiatives, consultancy and advisory services, institutional engagement, and market access support designed to strengthen bilateral and multilateral commercial relations between the participating regions.

“This Agreement represents a significant strategic milestone in advancing commercial diplomacy and international business cooperation between Africa, Europe, and India. Through this partnership with EICBI”, James Shindi, Chief Executive Officer of Brevity Anderson, stated adding that the company intend to strengthen institutional engagement, facilitate investment opportunities, and support sustainable cross-border economic collaboration through coordinated trade and policy initiatives.

A key component of the collaboration includes the strategic coordination of lobbying and advocacy activities intended to support policy dialogue, investment facilitation, regulatory engagement, and enhanced public-private sector cooperation between African and European stakeholders, while simultaneously expanding commercial collaboration opportunities with India.

“We are therefore delighted to formalize this collaboration with Brevity Anderson, which reflects our shared ambition to build stronger economic and institutional linkages between Africa, Europe, and India. We look forward to working closely with Brevity Anderson to support meaningful and long-term economic engagement”, Sujit S. Nair, Chairman of EICBI, stated.

According to Nair, at a time when businesses and governments are increasingly seeking trusted international partnerships, this collaboration creates a platform to facilitate investment, trade, policy engagement, and stakeholder cooperation across three strategically important regions.

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