The National Pension Commission has said it recovered N213.07m from employers who deducted pension savings from their workers’ monthly emoluments but refused to remit such to their respective Pension Fund Administrators between July and September.
It disclosed this in its third-quarter report entitled ‘Update on the recovery of outstanding pension...
The Central Bank of Nigeria (CBN) in a significant move has revoked the licenses of 4,173 Bureaux De Change (BDC) Operators due to their failure to adhere to regulatory provisions. This action comes as the apex bank intensifies efforts to enforce compliance with guidelines aimed at combating financial crimes...
Dr Dakuku Peterside, Director-General, Nigeria Maritime Administration and Safety Agency (NIMASA), says corruption discourages investment and growth of the country.
Peterside told newsmen on Tuesday in Abuja that corruption impacted negatively on the society and should not be encouraged.
“Now the other dimension of corruption which our people keep ignoring is...
In a sweeping move to combat price gouging and unfair market practices, the Federal Government executed surprise enforcement raids across multiple supermarkets and markets in the Federal Capital Territory. The initiative aims to enforce price display and quantity regulations, targeting a reduction in food commodity costs nationwide. Dr. Adamu...
The World Bank has predicted that Nigeria’s economy will grow by 2.1 percent in 2020, adding that growth in the West African Economic and Monetary Union is expected to stabilise at 6.4 percent.
The bank made the prediction in its January 2020 Global Economic Prospects which was released on Wednesday.
Nigeria’s...
Lagos, Nigeria - In a strategic move to fortify its financial position amidst evolving market dynamics, Ecobank Transnational Incorporated (ETI) has inked a significant deal with the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC). Ayo Adepoju, ETI's group chief financial officer, disclosed this groundbreaking development in a...
Zenith Bank, a leading financial institution, has announced the appointment of Adaora Umeoji as its new Group Managing Director and Chief Executive Officer (GMD/CEO). The appointment, set to take effect from June 1, 2024, was revealed in a corporate filing on the Nigerian Exchange Group (NGX) and signed by...
One of the Binance executives detained in Nigeria, amidst a legal battle over cryptocurrency regulations, has managed to escape custody. Nadeem Anjarwalla, a key figure at the world's largest cryptocurrency exchange, reportedly fled from a guest house in Abuja where he and his colleague were being held by security...
The Central Bank of Nigeria (CBN) has disclosed that it sold $10,000 to each Bureau De Change (BDC) operator at a rate of N1,101 per US dollar. This information was shared in a circular addressed to the President of the Association of Bureau De Change Operators of Nigeria.
The circular,...
President, Dangote Group, Alhaji Aliko Dangote, said close to $500m have been expended on the Dangote Sugar Refinery in Tunga, Nasarawa State, with the project when completed, expected to generate 90 megawatts of power, as well as provide direct employment for thousands.
Alhaji Dangote disclosed this when he led the...
