Five PFAs control pension market, account for 54% of new RSAs
•States still foot-dragging on CPS implementation By Rosemary Iwunze Five Pension Fund Administrators, PFAs, out of 18 licensed operators accounted for 54.41 per cent of new Retirement Savings Account, RSA, registrations in the first quarter of 2026, Q1’26, indicating continued concentration in Nigeria’s pension market. According to the Q1’26 industry report released by the National […]
Ropeways to launch cable car mass transit system
For the first time in the history of Nigeria, a cable car company, Ropeways Transport Limited, is set to launch a cable car mass urban transit system in the nation’s commercial capital, Lagos. This followed the signing of a 30-year Franchise Agreement between Ropeways Transport Limited, the Lagos Metropolitan Area Transport Authority (LAMATA) and the Lagos State Government recently.
Pensioners do not come for their benefits – President PFA
Un-accessed pension benefits under the care of Pension Fund Operators, PFAs, have continued to grow as contributors to the scheme gradually retire.
Poor service delivery threatens railway rehabilitation
The Federal Government’s effort towards rehabilitating the railway sector may not yield any positive result if the current trend of poor service delivery and management continue, Vanguard’s investigations revealed.
CBN moves to reduce unbanked population by 20%
THE Central Bank of Nigeria, CBN, has restated its commitment to reducing the country’s unbanked population by 20 per cent before year 2020. The move is part of the apex bank’s financial inclusion strategy aimed at ensuring greater participation in the nation’s financial sector.
Banks develop funding framework for power projects
Banks have commenced collaborative effort to develop a framework to lend and finance power projects.
Our expectations of the Transmission Company of Nigeria in 2013
The Transmission Company of Nigeria, TCN, is the link between the electricity distribution companies and the power generation companies. TCN will remain 100% owned by the Federal Government of Nigeria, FGN, while the electricity distribution companies and the power generation companies will be partially privatised.
Sanusi justifies revocation of 236 BDCs
As reactions continue to trail the recent revocation of the operating licenses of the 236 Bureaux De Change (BDC) operating across the country, the Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi has explained that the revocation became necessary because the affected BDCs fell short of the minimum operational standards.
Indonesia signs pact with Nigeria on aircraft maintenance, operation
Indonesian airliner, GMF Aeroasia and Industry has sealed a pact with five Nigerian airliners on maintenance and operation.
Heritage Bank pays SGBN customers at account validation centres
One significant highpoint of the account validation exercise kicked off by Heritage Banking Company on Tuesday 29 January for Customers of the defunct Societe Generale Bank of Nigeria (SGBN) is the immediate issuance of payment cheques to customers whose accounts are successfully validated.
SMEs, local manufacturers dying of faulty credit system – Okeke
Over the years, investigation had revealed that apart from the epileptic power supply that has affected business operations at every level in this country, poor credit facility has been a major challenge of local manufacturers. In this interview, Managing Director, ENGASOD Logistics Limited, Tobia Okeke, explained that faulty credit facility is one of the reasons why SME’s, local manufacturers are dying in Nigeria. Excerpts:
