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 […]
CBN to reduce interest rate on N220bn MSMSE Fund
The Central Bank of Nigeria (CBN) will soon review downward the interest rate for borrowing through the N220 billion Micro, Small And Medium Enterprises (MSME) fund.
Brent rebounds above $71 in turbulent oil market
Brent rose to $71 a barrel yesterday, recovering some of its losses from the previous session as a turbulent market searched for a price floor after a nearly 40 percent fall since June. Oil has seen choppy trade since the Organisation of the Petroleum Exporting Countries (OPEC) said last week it would not lower output despite an oversupplied market.
NSE to commence trading on Derivatives in 2016
The Nigerian Stock Exchange, NSE, has disclosed plan to commence trading in financial derivative in 2016.
Oil steadies below $73 after hitting five-year low
Brent crude oil steadied below $73 a barrel yesterday, although Russian and Nigerian currencies remained under pressure on persistent doubts over their central banks’ ability to provide support. With Brent crude trading at about $72, breaking a five-day losing streak, the rouble staged a brief rally but headed lower again, losing 1.4 percent against the dollar.
Operators advocate overhaul of privatisation laws
Some capital market operators have called on the Federal Government to intensify effort towards amending the existing privatization laws that would transform the Nigerian economy.
