Business

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 […]
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FG opens new veterinary centres  to expand  livestock healthcare 

By Cynthia Alo  The Federal Government, in a bid to improve livestock healthcare delivery, has completed and handed over new Veterinary Primary Health Centres in Lagos and Ogun states. The centres, located in the Epe area of Lagos and Ijebu Igbo in Ogun State, are part of the Federal Ministry of Livestock Development’s nationwide plan to […]

NAICOM charges insurers to adopt customer-centric business model

By Rosemary Iwunze The National Insurance Commission, NAICOM, has called on insurers to  transition from a product-centric approach to a customer-centric model. Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, who stated this at the opening ceremony of the Insurance Week 2026, explained that customer-centric model entails actively involving clients in the product development process seeking their […]

Nigeria, others commit $27bn to port infrastructure expansion — PMAWCA

By Efe Onodjae  Nigerian and other countries in West and Central Africa have committed over $27 billion to port infrastructure expansion projects aimed at strengthening regional trade integration, improving maritime logistics and driving economic growth across the sub-region. Managing Director of the Nigerian Ports Authority, NPA, Dr. Abubakar Dantsoho, disclosed this yesterday during the opening of […]

Sugar industry key to addressing unemployment, insecurity — NSDC boss 

The Executive Secretary/CEO of the National Sugar Development Council, NSDC, Mr. Kamar Bakrin, has said that developing Nigeria’s sugar industry could significantly address unemployment, insecurity and rural community underdevelopment by creating massive jobs and attracting investments to rural communities. Bakrin stated this during a strategic meeting between the NSDC and the Nigeria Customs Service, NCS, […]

Diaspora remittances stabilises at $21.8bn in 2025 amid global pressures 

•Sub-Saharan Africa remains  most expensive By  Babajide Komolafe Diaspora remittances into Nigeria stabilised at $21.8 billion in 2025 despite mounting global economic pressures, tighter immigration policies in major economies and rising transfer costs across Sub-Saharan Africa. Vanguard analysis of  data from the Central Bank of Nigeria, CBN, Quarterly Statistical Bulletin for fourth quarter 2025, Q4’25, showed […]

NAICOM charges insurers to adopt customer-centric business model

By Rosemary Iwunze The National Insurance Commission, NAICOM, has said that insurers must deliberately transition from a product-centric approach to a customer-centric model. Commissioner for Insurance, Mr. Olusegun Ayo Omosehin who stated this at the opening ceremony of the Insurance Week 2026, noted that customer-centric model entails actively involving clients in the product development process […]

Financial institutions race to meet CBN deadline on new cyber-security standard

By Emeka Anaeto, Business Editor Nigeria’s financial institutions are fighting to meet the deadline of June 10, 2026 set by the Central Bank of Nigeria, CBN, for onboarding to a new cyber-security baseline. But industry sources told Financial Vanguard that though most of the commercial banks are already on track to the deadline almost all operators […]

SEC warns Nigerians against rising Ponzi schemes on social media

The Securities and Exchange Commission (SEC) has warned Nigerians against investing in unregistered online investment schemes being aggressively promoted on social media platforms, cautioning that many of them exhibit characteristics of Ponzi schemes. The warning was contained in a public notice dated May 8, 2026, and published on the Commission’s official communication channels. According to the […]

Manufacturing export stagnates despite rising trade value 

By Yinka Kolawole The contribution of manufactured goods to Nigeria’s export basket has stagnated for four consecutive years despite a sharp rise in the country’s total export value, latest figures from the National Bureau of Statistics (NBS) have shown. The NBS data indicated that though total export value rose by 9.93 per cent year-on-year (YoY) to N85.13 […]

Fertiliser Plants: Dangote vows to ensure food security in Africa

By Udeme Akpan President of the Dangote Group, Aliko Dangote, has reaffirmed his commitment to boosting food security across Africa through large-scale fertiliser investments, declaring that the continent has the capacity to feed itself and become a net exporter of agricultural products. Dangote made this known while addressing journalists in Gode, in Ethiopia’s Somali region, during a […]

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