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 […]
NSE tasks oil majors on renewable energy
The Nigerian Society of Engineers, NSE, has charged international oil companies, IOCs, operating in the country to invest in renewable energy development, as one of the ways of mitigating the impact of climate change.
Power sector reform is endangered NSE President
The President of the Nigeria Society of Engineers, NSE, Mr. Olumuyiwa Ajibola, has warned that the nation may not reap the benefits of the ongoing reforms in the power sector due to the absence of the “right professionals” in its conception and implementation.
FG spends N2.7trn on fuel subsidy in four years
The Federal government disclosed that it spent over N2.7 trillion on subsidy for importation petroleum products into the country from 2006 till date.
Oceanic Bank drives economy through Calabar Festival sponsorship
The management of Oceanic Bank International Plc has said its sponsorship and unwavering support for the prestigious annual Calabar Festival has contributed to tourism and economic growth in Nigeria.
Why Nigerian industries are collapsing – Sanusi
Governor of Central Bank of Nigeria, CBN, Malam Sanusi Lamido Sanusi, says unfavourable competition arising from the World Trade Organisation Treaty is responsible for the collapse of industries in the country.
NASS, ministries, parastatals review 2010 budget performance
As members of the National Assembly prepare to deliberate on the N4.2 trillion budget for 2011 submitted by President Goodluck Jonathan, virtually all the ministries, parastatals are doing everything in the books to convince the committees of both chambers to approve their appropriation for the 2011 fiscal year.
2011: Another budget of contradictions
“Accordingly, there is a deliberate reduction in budget expenditure from the N5,159.66billion approved in the 2010 Amendment and Supplementary Budgets. Aggregate expenditure for 2011 is projected at N4,226.19billion…This represents a 18.1% contraction”
The Ponnles’ story of love & business
Except for the fact that the meeting was a little earlier before night, that interesting encounter with Prince Tunde Ponnle, Chairman, MicCom Cables and MicCom Golf Centre and Resorts and his wife, Olufunke, was more like a moonlight meeting.
FG spends N22.3bn as subsidy for fertilizer
Minister of Agriculture and Rural Development Prof Sheikh Abdullah has said that federal government has provided the sum of N22.30 billion as 25% subsidy for the procurement and distribution of 900,000 metric tons of fertilizers to farmers in the 36 states and the FCT.
Expert blames regulatory authorities for dwindling economy
THE regulatory authorities in Nigeria have been criticized of not doing enough research before coming out with legislation that affect the economy.
