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 […]
‘How petroleum products are adulterated’
The National Union of Petroleum and Natural Gas Workers (NUPENG) says some transporters adulterate petroleum products by mixing them with other chemicals in order to increase their profits.
Why we extended bank accounts upgrading – Bankers
Commercial banks are still carrying out customers accounts upgrading notwithstanding that the deadline given by the Central Bank of Nigeria (CBN) was January 31 to complete the exercise.
Expert ties rising poverty to nation’s poor power supply
An energy expert, Mr. Stanley Austin, has blamed the increase in the rate of poverty in the country on the poor state of power, even as he noted that the country could regain its position as a regional economic hub once it addresses the energy challenge.
NLC-UBN face-off: Presidency set to resolve dispute
EFFORTS by the Presidency to resolve the lingering dispute between organised labour and management of the Union Bank of Nigeria, UBN, Plc, which led to the shut down of operations of the bank offices nationwide for a third day, appeared to be achieving the desired result as there is only one unresolved matter.
Inflation rises to 12.5%
Inflation rate rose to 12.1 per cent in January from 11.8 per cent the previous month, says National Bureau of Statistics, NBS.
Citibank, Bel Papyrus sign N3bn deal to boost paper production
Citibank Nigeria Limited has secured a N3 billion (USD$ 20 million), five-year term loan facility for Bel Papyrus Nigeria Limited, a subsidiary of Boulos Group.
UK’s fraud office settles Nigeria bribery case for £7m
The Serious Fraud Office has secured a £7m settlement from engineering group, M. W. Kellogg, in a case relating to the payment of more than £100m in bribes to Nigerian government officials by its parent company.
3Line boosts financial inclusion with Freedom Cards
3Line Card Management Limited has unveiled Freedom Card, an electronic prepaid payment card designed to provide millions of unbanked Nigerians access to financial services.
Airport managers lament abandonment of left luggage
Left luggage at the Nnamdi Azikiwe International Airport in Abuja is becoming a source of worry for the facility’’s managers, Mr Alfred Itua, the Head of Public Affairs unit of the Federal Airports Authority at the airport, has said.
NSE remote trading connections grows to 235
The Nigerian Stock Exchange (NSE) has said that the use of remote trading by dealing member firms has continued to grow in acceptance as there are 235 remote trading connections in Lagos besides those deployed in branches across the country.
