PenCom to sanction PFAs as only 17% of RSA holders recaptured
By Rosemary Iwunze The National Pension Commission (PenCom) has threatened to sanction Pension Fund Administrators (PFAs) that fail to meet prescribed targets under the ongoing Retirement Savings Account (RSA) data recapture exercise. PenCom, in its first-quarter 2026 report, disclosed that only 17.03 per cent of the industry’s legacy RSA holders had completed the mandatory data recapture […]
Safeguarding investors’ capital remains biggest post-listing challenge- AVA Capital
By Peter Egwuatu THE Managing Director and Chief Executive Officer, AVA Capital Plc, Mr. Kayode Fadahunsi has revealed that safeguarding investors’ capital remains the biggest post listing challenge. He added that preserving investor trust would be the company’s foremost priority, adding that the group seeks to strengthen governance, transparency and accountability while pursuing long-term growth as […]
Insurance recapitalisation: Oyedele queries NAICOM over processing fee, payment into escrow account
By Emma Ujah, Abuja Bureau Chief The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has queried the National Insurance Commission (NAICOM) over its imposition of a 1% Capital Injection Fee, alongside verification fees to be paid by insurance companies in the ongoing sector recapitalization exercise. The query followed a petition by NICON […]
NIMASA reiterates commitment to globally competitive maritime administration
By Godwin Oritse The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to building an efficient, transparent and globally competitive maritime administration through sustained reforms and stronger stakeholder collaboration. Director-General of NIMASA, Dr. Dayo Mobereola, gave the assurance while receiving the leadership of the Alumni Association of the Maritime Academy of Nigeria (AMANO) […]
Reps, NDIC seek stronger depositor protection after bank recapitalisation
By Cynthia Alo The Nigeria Deposit Insurance Corporation (NDIC) and the House of Representatives Committee on Insurance and Actuarial Matters have intensified efforts to strengthen Nigeria’s financial safety net following the completion of the banking sector recapitalisation exercise. The move came as more than 60 members of the House Committee met with NDIC officials in […]
NERC sacks Kaduna DisCo board over N456bn debt, appoints administrator
By Obas Esiedesa The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Company (KAEDC) over what it described as grave financial, operational and regulatory failures, appointing the utility’s Managing Director/Chief Executive Officer, Dr. Abubakar Umar Hashidu, as administrator for an initial six-month period. The intervention, contained in Order No. NERC/2026/086, took […]
