Business

PenCom to sanction PFAs as only 17% of RSA holders recaptured

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 […]
Visible Articles 5 10 15
‘Why we reawarded airport project for N20bn’

‘Why we reawarded airport project for N20bn’

Mr.Bassey Albert Akpan doubles as the Akwa Ibom State commissioner for finance and chairman Inter-Ministerial Direct Labour Committee. He was the vice chairman of First City Monument Bank before his present office. In this interview he explains the mega projects of the administration and his confidence on the target dates for their inauguration. Excerpts

NUBIFIE urged to oppose  use of contract staff in banks

NUBIFIE urged to oppose use of contract staff in banks

AS many Nigerians continue to react to the recent action by the Central Bank of Nigeria (CBN) on five commercial banks in the country, an appeal has gone the National Union of Banks and Financial Institutions Employees (NUBIFIE) to raise questions on the employment status of some of their members.

Oceanic Bank customers pledge support to new management

Oceanic Bank customers pledge support to new management

A CROSS section of customers and key stakeholders in Oceanic Bank International Plc have expressed their support for the bank’s new managing director, John Aboh and his management team for their repositioning efforts so as to sustain the bank’s leading position in the industry. They pledged their support at a special interactive meeting with the new Managing Director held in Abuja. The meeting is the first in the series lined up by the new Chief Executive to meet with key stakeholders in the bank.

Margin facilities: Risks to lender/financial institution

Margin facilities: Risks to lender/financial institution

BANKS generate revenue by granting credit facilities to customers for a number of purposes from projects (project finance), purchase of manufacturing equipment, import, export, property (mortgage), acquisitions/mergers, buying of shares (margin facility) to business start-up or expansion.