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 […]
AstraZeneca profit jumps as cancer drug sales grow
British pharmaceutical giant AstraZeneca said Tuesday that its net profit jumped 45 percent last year on strong sales of cancer drugs, as it expands its reach in the United States and China.
Oil industry contracting: NCDMB issues NCEC guidance notes, rules out transfer of certificate
By Udeme Akpan Determined to speed up the oil and gas industry contracting processes, weed out firms lacking technical capacity to perform and reduce Nigeria’s cost of production, the Nigerian Content Development and Monitoring Board has issued the “NCEC Application Guidance Notes”, with effect from December 2025. The document which is available on the Board’s website […]
FG, States, LGAs share N26.5trn in 2025
•As oil producing states receive N1.6 trn By Elizabeth Adegbesan The Federal Government (FG), 36 states and 774 local governments shared N26 trillion from Federation Account Allocation Committee (FAAC) revenue in 2025. This represents an 84.2 percent year-on-year (YoY) increase when compared to N14.11 trillion shared in 2024. Vanguard analysis of data in the FAAC […]
Women spend 21% of day on Unpaid Care, men 4% — NBS
Says Unpaid Work gap persists across urban, rural Nigeria By Babajide Komolafe Women in Nigeria spend 21 per cent of their day nearly five hours on unpaid domestic and care work, compared to just 4.1 per cent, or about one hour, spent by men, according to the Nigeria Time Use Survey (NTUS) 2024 released by the National […]
NDIC pays depositors of defunct banks within 72 hours via BVN —Executive Director
By Bashir Bello KANO — The Nigeria Deposit Insurance Corporation, NDIC, said it has settled or reimbursed depositors of defunct banks within 72 hours of their closure. The affected banks include, Heritage Bank Limited, Union Homes Plc and Aso Savings and Loans Plc. Speaking during a one day stakeholders meeting held in Kano, the NDIC Executive […]
UAC records 74% revenue surge, amid one-off acquisition related costs
By Peter Egwuatu UAC of Nigeria Plc, has announced its unaudited financial results for the fourth quarter and year ended 31 December 2025, recording a 74% increase in revenue to N343.4 billion from N196.9 billion in the corresponding period 2024 following the successful completion of its transformational acquisition of C.H.I. Limited alongside continued contributions from […]
NDPHC, KAEDCO deepen partnership to boost power supply in Kaduna
By Sebastine Obasi The Chairman of Kaduna Electricity Distribution Company, KAEDECO, Mr. Aminu Suleiman, and the Managing Director of Niger Delta Power Holding Company, NDPHC, Engr. Jennifer Adighije, have agreed to a sustainable collaboration that would translate into tangible improvements in electricity generation and distribution efficiency in KAEDECO areas of operation. The collaboration was agreed upon […]
Recurring grid collapses a ‘national embarrassment’— NERC Chairman
…as Commission holds seminar for judges By Obas Esiedesa, Abuja The Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Musiliu Oseni, has admitted that the recurring collapse of the national power grid has become a national embarrassment. Oseni made the remark in Abuja on Monday at the opening of the 2026 NERC Seminar for Judges, […]
CBN, NCC propose 30mins timeline for refund on failed airtime, data purchases
Create dashboard to track complaints, reversals By Babajide Komolafe, Economy Editor, In a major regulatory intervention aimed at protecting consumers, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have proposed a 30-minutes timeline for refund to subscribers in the event of failed airtime and data purchase transactions. The proposal is contained in the […]
Legend makes history, wins NGX Market Debut Excellence Award
Legend Internet Plc has won the Market Debut Excellence Award at the 2025 NGX Made of Africa Awards, hosted by the Nigerian Exchange (NGX) Group.
Network Capital wins NGX Compliance Award for second straight year
Network Capital Ltd. has been named Nigerian Exchange Ltd.’s Most Compliant Firm for 2025, securing the recognition for the second consecutive year in a sign of strengthened governance standards in Nigeria’s capital market.
Investors gain N1.4trn as Dangote, Aradel boost NGX rally
Stockbrokers said bargain hunting persisted in mid-cap and blue-chip stocks, including Dangote Cement, Aradel, Transcorp, FCMB, UBA, Dangote Sugar, among others.
US stocks steady ahead of key economic data
Wall Street stocks were little changed early Monday in muted trading ahead of key US economic data this week.
Nigeria’s manufacturing jobs growth outpaces productivity in 2 decades
*Most employment in MSMEs sector By Yinka Kolawole The manufacturing sector in Nigeria is grappling with a troubling paradox: rising employment without commensurate productivity growth, underscoring deep structural weaknesses in the country’s industrial base. Over the past two decades, the number of Nigerians employed in manufacturing has recorded a marginal increase but this has not translated […]
BoI secures CBN approval to operate non-interest banking
The Bank of Industry (BoI) said it has received regulatory approval from the Central Bank of Nigeria (CBN) to operate a Non-Interest Banking (NIB) Window, marking a significant milestone in the bank’s growth and long-term development agenda. A statement from the bank said the approval authorises BoI to commence Non-Interest Banking operations, positioning the bank to […]
