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 […]
Mutual Benefits meets NAICOM recapitalisation milestone, strengthen industry leadership position
“This achievement goes beyond meeting a regulatory requirement. It is a reaffirmation of our enduring promise to policyholders”
Dangote Refinery drops PMS to N1,165/litre, diesel to N1,570/litre
By Peter Egwuatu Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), effective Thursday 6th of August, thereby reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market. The company in a statement said, under the new pricing structure, the […]
Withdrawal of COVID-19 Forbearance pushes banks’ bad loans above CBN limit
By Elizabeth Adegbesan The withdrawal of the Central Bank of Nigeria’s (CBN) COVID-19 regulatory forbearance given to banks has pushed banks’ Non-Performing Loans (NPLs) ratio to 9.94 per cent in the first quarter of 2026 (Q1’26), significantly above the apex bank’s prudential benchmark of 5.0 per cent. The development was disclosed in the CBN’s first quarter […]
Dealers effect petrol, diesel depot price cuts
•As crude oil prices drop By Udeme Akpan, Energy Editor Competition among petroleum marketers and depot operators intensified on Tuesday as the prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), also called diesel, recorded downward adjustments across major depots in Lagos, Port Harcourt, Warri and Calabar. This came on […]
Oando grows half year revenue to N2.1trn
Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation.
