PenCom Disowns ASSOPEP, Warns that the Group is not Authorized to Process or Pay Retirement Benefits.
The Association of Pension Desk Practitioners of Nigeria (ASSOPEP) is not associated with the pension business and does not have…
Year: 2023
UBA, Zenith Bank, and Four Other Institutions Announce N389.8 Billion Dividend in Two Years.
Six out of the 13 listed banks on the Nigerian Exchange Limited (NGX) declared a combined N389.8 billion in dividends…
FG Prohibits Internet Banks From Accessing the Contacts and Images of their Customers.
On May 31, 2023, loan apps on the Play Store won’t be able to access the contacts or photographs of…
Four Days of Bearish Trading Result in Investor Losses of N674bn.
After four days of trading last week, investors on the Nigerian Exchange Limited lost N674 billion.Due to the Federal Government…
Senate: Budget Office Paid Four MDAs N19 billion Without Authorization.
The Minister of Finance, Budget, and National Planning’s consent was not obtained before the Budget Office of the Federation distributed…
Operator: CBN’s Strict Monetary Policy is Limiting Bank Profitability.
According to Johnson Chukwu, CEO of Cowry Asset Management, more local lenders would pursue cross-border expansion in response to the…
Worldwide Food Costs Decreased by 2.1% in March.
The UN Food and Agricultural Organization stated that in March, global food prices fell for the 12th month in a…
In 2022, Debt Servicing Increased by 14.68%-DMO
According to DMO, N2.93 trillion was spent in 2021 on payments for servicing both domestic and foreign debt. Remember that…
Investors Demand Insurance and Pension Growth.
The necessity to expand the insurance and pension sectors has been discussed by financial sector stakeholders. They spoke on the…
Contributory Pension Assets Increased by N1.68 trillion in a Year.
The Contributory Pension Scheme’s assets increased by N1.68 trillion, from N13.76 trillion at the end of February 2022 to N15.45…
Reps Seek Compulsory 5 Year service to Nigeria by Doctors before Going Abroad.
The House of Representatives has approved a bill in second reading that would limit the number of medical and dental…
FG Laments that Only 30% of Women in Technology Industries.
The federal government has voiced its displeasure over the low representation of women in innovation and technology, bemoaning the fact…
Obasanjo: The Next Administration must Work to End Ethnic Division in Nigeria
Olusegun Obasanjo, a former president, believed that the future administration would have its work cut out for it in terms…
Rewane: Two US Banks’ Collapse Will Squeeze Funding for Nigerian Fintechs, Startups.
According to Mr. Bismarck Rewane, the Managing Director/Chief Executive Officer of the Financial Derivatives Company Ltd (FDC), the failure of…
Sterling Bank Relists on the NGX as HoldingCo.
The continuing conversion of Sterling Bank Plc into a financial holdings business has reached a critical milestone, according to the…
UBA Plans to Sell Abuja Disco to Repay a $122 million Debt.
In order to recoup a $122 million debt that the Disco owes it, the United Bank for Africa has made…
World Diesel Prices are Declining as the Economic Recession gets Worse.
As the economy sputters, additional refineries start operating, and exports from Russia are rerouted and replaced by fuel from the…
The East Coast Refineries Get Rare Cargoes of Forties Crude.
The latest indication that Russia’s invasion of Ukraine is altering global oil supplies is that U.S. and Canadian refiners have…
$800m W’Bank Support: NECA Requests that Repairing Refineries Be Given Priority Over Sharing Palliatives.
The Nigeria Employers’ Consultative Association (NECA) has urged the federal government to fix the nation’s paralyzed refineries before sharing $800…
BUA Foods’ Sales Rises to N418 billion
The consumer goods company BUA Foods reported that its full-year revenue for 2022 increased by 26% to N418.3 billion from…
MTN Shareholders can Purchase Dividend-paying Shares at N232.68.
For interested shareholders, MTN Nigeria has disclosed the price per unit for its shares under the scrip dividend scheme. The…
Report: Less than 7% of African Businesses are Adopting Technology.
According to the paper that was published, economists from the World Bank and IFC examined data from a survey of…
Reps are Looking into Claims that NNPCL Officials Diverted N20 billion.
The Nigerian National Petroleum Corporation Limited is the subject of an investigation by an ad hoc committee established by the…
World Bank: The Value of the Naira Decreased by 10% in 2022.
The World Bank estimates that in 2022, the value of the naira fell by 10.2%. This occurred at a time…
According to analysts, U.S Banks are Offering Incentives to Lock in Consumer Deposits.
As the Federal Reserve increased interest rates, customers cried out for banks to pay more for deposits. Analysts now claim…
LCCI: The Increase of Nigeria’s Public Debt Deeply Concerns Us.
The Lagos Chamber of Commerce and Industry (LCCI) is concerned about Nigeria’s national debt, which will expand exponentially between 2013…
Nigerias’ Financial Crisis Lowers Productivity in the Private Sector.
In March 2023, the private sector of the Nigerian economy saw productivity steadily decline as a result of the country’s…
Senate Debates Buhari’s Request for a N9.6 billion Refund to Plateau and Borno.
Ahmad Lawan, the President of the Senate, requested that the Senate Committee on Foreign and Local Loans take into account…
Senate Indicts NNPCL for Withholding Information on N102 billion.
The Nigerian National Petroleum Corporation Limited (NNPCL) was indicted by the Senate for failing to submit information on the crude…
NCDMB Opens a N7 billion Pipe Manufacturing Facility.
The groundbreaking ceremony for a N7 billion pipe manufacturing facility at Polaku, Bayelsa State, was conducted by Engr Simbi Wabote,…