The National Pension Commission (PenCom) said as at the end of the third quarter of 2023, the number of Retirement Savings Accounts (RSAs) under its Contributory Pension Scheme (CPS) stood at 10 million and the size of the pension Asset Under the current Management amounted to N16.76 trillion. The Director General of the National Pension Commission (PenCom), Aisha Dahir-Umar who was represented by the Commissioner, of Administration, Dr Umar Farouk Aminu, made this known at an interactive session on the CPS for the organised private sector held in Kano. She said the commission has continued to record giant strides towards…
Author: Elvis Eromosele
Importers of the 43 items hitherto banned by the Central Bank of Nigeria (CBN) from accessing foreign exchange at the Nigerian foreign exchange market can rejoice as the apex bank has lifted the ban. This was contained in a statement from the CBN’s Spokesman, Dr Isa Abudulmumin. The 43 items were banned via a circular dated June 23, 2015. Some of them are: rice, cement, margarine, palm kernel/palm oil products/vegetable oils, meat and processed meat products, vegetables and processed vegetable products and poultry – chicken, eggs, turkey. Others are; Indian incense, tinned fish in sauce (Gelsha)/Sardines, cold rolled Steel Sheets,…
Lagos State Domestic and Sexual Violence Agency has empowered 400 girls with digital literacy, resilience, and the skills needed to navigate the complexities of the digital world. DSVA Executive Secretary, Titilola Vivour-Adeniyi, stated this on Wednesday while commemorating the International Day of the Girl Child with the Theme: “Digital Generation- Our Generation”, saying the aim was to celebrate the incredible potential, strength, and resilience embodied by the girls. While reaffirming the agency’s dedication to ensuring that the digital world remains a safe, empowering, and inclusive space for girls, Vivour-Adeniyi urged all the stakeholders to create a world where every girl…
Moniepoint, a prominent fintech firm in Nigeria, is embarking on a groundbreaking multimillion-dollar offline strategy aimed at harnessing the vast potential of the National Union of Road Transport Workers (NURTW) and propelling financial inclusion to new heights in the country. With an astounding membership of almost 2 million, comprising taxi, bus, and truck drivers, the NURTW stands as one of Nigeria’s most influential and financially liquid trade unions. What’s particularly intriguing for Moniepoint is the unwavering commitment of these drivers to remit fees to the association, making them a prime target for financial services. Moniepoint recently revealed impressive figures, boasting…
Stanbic IBTC Holdings, a member of the Standard Bank Group, is actively supporting the Green Recovery Nigeria (GRN) Programme in collaboration with the Nigerian Conservation Foundation (NCF). The aim is to elevate Nigeria’s forest cover from its current meagre 5 per cent to the recommended 25 per cent of national land cover by 2050, as advised by the Food and Agriculture Organisation. In a significant ceremony held recently at the Lekki Conservation Centre (LCC), nestled within the heart of Lagos, and serving as the NCF’s headquarters, Stanbic IBTC reaffirmed its commitment to this crucial initiative. Enhancing the nation’s forest cover…
Stanbic Holdings Plc, the parent company of Stanbic IBTC, has launched its fintech subsidiary The bank released Zest into the market, which it said will change the fintech landscape in Nigeria The bank revealed that it aims to revolutionise payment and online selling in Nigeria Stanbic IBTC Holdings has released its fintech subsidiary, Zest, to the public to change the payment landscape in Nigeria. At the launch of Zest in Lagos, the Group Chairman of Stanbic Holdings, Basil Omiyi, said the bank aspires to become the leading end-to-end financial services provider for businesses and individuals in Nigeria. IBTC says it…
By Elvis Eromosele In Nigeria today, the monster of inflation is rearing its head with unrelenting intensity. Prices are spiralling out of control, and the average business owner and individual are grappling with the harsh reality of inflation’s bite. While this economic challenge is not unique to Nigeria, its impact is profoundly felt by those at the bottom of the pyramid. According to the National Bureau of Statistics (NBS), Nigeria’s annual inflation rate climbed to 25.8 per cent in August 2023, from 24.08 per cent in July, marking the highest rate since September 2005. Experts point out that the rate…
With about 70 registered fertilizer-blending plants in the country, Nigeria has the capacity to produce eight million metric tonnes of fertilizer per year, industry experts have revealed. The Programme Lead for the African Fertilizer Initiative with the International Fertilizer Development Center (IFDC) Sebastian Nduva, who revealed this while speaking at the NPK Technical Working Group Validation Workshop, yesterday in Abuja, stated that Nigeria has the largest number of registered fertiliser blending plants in Africa and it’s close to being self-sufficient in NPK fertilizer production. According to him, the validation of the statistics of fertilizer produced in the country was to…
Operator of the Murtala Muhammed Airport Terminal II (MMA2) facility in Lagos, Bi-Courtney Aviation Services Limited, has raised user-fees for car park and in-terminal lounge services by about 33 per cent. By the increment, which takes effect November 1, 2023, users will now pay between N500 and N5000, depending on the duration of stay. The new tariff announcement is some three months after the Federal Airports Authority of Nigeria (FAAN) raised Lagos Airport access toll fees by 50 per cent. BASL, yesterday, said the tariff review was considering the new economic reality, adding that the decision had long been held…
Telecommunications operators, especially tower companies, have revealed that the concentration of infrastructure in cities guarantees a faster return on investment (RoI). Lagos, Abuja and Port Harcourt were identified as the most viable cities for telecom operators, rationalising the concentration of infrastructure in the locations. Speaking during the West Africa Telecoms Infrastructure Summit and Exhibition (WATISE) organised by Technology Mirror in Lagos, Mike Ofili, Chief Executive Officer, Coloplus, a tower infrastructure company, said that RoI in infrastructure could only be achieved in major cities where there is relative stability and a ready market. At the forum with the theme: “The Future…