OTEDOLA BRIDGE, LAGOS TANKER FIRE PUT-OFF, TRAFFIC RESTORED. (PHOTO).

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 OTEDOLA BRIDGE, LAGOS TANKER FIRE PUT-OFF, TRAFFIC RESTORED Traffic flow along the Otedola Bridge corridor in Lagos has been restored following effort to put out  a fire involving a fallen tanker carrying thirty-three thousand litres of diesel. The Lagos State Emergency Management Agency, LASEMA, confirmed that two adult males who sustained second- and third-degree burns in the incident were evacuated for further medical treatment. In a statement, the agency’s Permanent Secretary, Dr. Olufemi Damilola Oke-Osanyintolu, said the fire was extinguished through the coordinated efforts of the Lagos State Fire and Rescue Service, LASEMA Response Team, Federal Road Safety Corps, Lagos State Traffic Management Authority and Lagos State Ambulance Service. He added that the victims received immediate medical attention at the scene before being transported for further treatment. LASEMA disclosed that dampening-down operations were eighty per cent complete at the time of filing this repor...
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30 BANKS MEET NEW CBN CAPITAL REQUIREMENTS. (PHOTO).

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 30 BANKS MEET NEW CBN CAPITAL REQUIREMENTS


The Central Bank of Nigeria says the banking sector recapitalisation programme introduced in 2024 is progressing steadily, with financial institutions strengthening their capital base to meet new regulatory thresholds.


A statement by the Acting Director of Corporate Communications at the bank, Hakama Sidi Ali, says thirty banks have already met the new minimum capital requirements tied to their respective licence categories.


The statement adds that thirty-three banks had raised additional capital through rights issues, initial public offerings and private placements as part of the recapitalisation programme.


The CBN notes that the capital positions of the remaining banks are currently undergoing routine verification ahead of final confirmation of compliance within the stipulated timeline.


The apex bank reiterates that Nigeria’s banking system remains stable and sound, stressing that the recapitalisation initiative will further strengthen banks’ capacity to support households, businesses and sustainable economic growth.

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