Nigeria’s Pension Managers, also known as Pension Fund Administrators (PFAs), are under pressure following the federal government’s failure to pay accrued pension rights of newly retired employees. The federal government last paid accrued pensions in 2022 when it released N13.89 billion covering a four-month payment period. This implies that most of the federal government’s employees…
Sustainability in environmental practices is essential to protecting and rebuilding the planet, as stressed by the Union Bank. This call was made during an event organised in partnership with the Nigerian Conservation Foundation to commemorate 2024 World Environment Day. The programme held at the Lekki Conservation Centre in Lagos brought together various stakeholders, including environmental…
Fidelity Bank Plc will launch its N127.1bn capital raise via a public offer and rights issue on June 20, 2024. The lender stated that it had signed the necessary documentation to raise about N127.1bn from a public offer and rights issue to its existing shareholders to raise its capital base in line with the Central…
Guaranty Trust Bank has dragged no fewer than 60 top executives of 13 commercial banks to court as a pending suit between GTBank and Afex Commodity Exchange over N17bn Anchor Borrowers Programme loan lingers. The 60 executives, including the chairmen, chief executive officers, directors, and company secretaries of the 13 banks are facing contempt proceedings…
Producing 100,000 barrels of oil per day is the goal of the Sangomar deep-water project, which started the nation’s oil production last week. A stand-alone floating production, storage, and offloading (FPSO) facility with a nameplate capacity of 100,000 barrels per day and subsea infrastructure that is intended to support further development phases are included in…
A small basket of tomatoes goes for about N35,000 in Lagos State while the price of pepper has also jumped, raising concerns among Nigerians. But Usman says the insecurity in the north is a major factor for the hike in the cost of the items. “The bone of contention, the real fact is just insecurity….
The Nigerian Airspace Management Agency has denied claims made by aviation enthusiasts that some aircraft passed over the Presidential Villa in Abuja without the nation’s radar surveillance systems picking them up. NAMA’s Managing Director, Ahmed Farouk, released a press release on Saturday outlining the agency’s stance. He stated, “The claim that the Nigerian airspace is…
This represents an increase of 0.26% points when compared to the April 2024 headline inflation rate, according to the NBS Consumer Price Index report released on Saturday. The data revealed that on a year-on-year basis, the headline inflation rate was 11.54% points higher compared to the rate recorded in May 2023, which was 22.41%. This…
The Federal Airports Authority of Nigeria, ahead of Eid-el-Kabir, has issued a warning against bribes and extortion at airports nationwide, assuring travelers of a smooth journey. The Director of Public Affairs and Consumer Protection, Obiageli Orah, made this known in a statement on Friday. She assured Nigerians of seamless travel, stating that measures have been…
