Budgeting Insurance & Pension Latest News Planning & Economic Development Professionals & HR Devt.

Pensioners Rue Disparity In Pension Policy, Take FG To Court

Worried by the disparity in their retirement benefits, retirees in the Federal civil service have decided to seek legal redress after years of discussions with the authorities on the matter did not yield any positive results. Already, the retirees who are from the six geopolitical zones, have approached the National Industrial Court, Abuja to seek […]

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Nigeria’s Insurance Industry Assets Hit N2.3Trn In Q2 – NAICOM

The National Insurance Commission (NAICOM) has reported that Nigeria’s insurance industry’s total assets grew to about N2.3 trillion in the second quarter (Q2) of 2022, representing 11.9 percent quarter-on-quarter growth. The commission gave these figures in its latest bulletin on ‘Insurance Market Performance’ which also reflected that the total in Non-Life Insurance stood at N1.2 […]

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FG Lauds CBN, NDIC On Safety Of Depositors’ Fund Despite Global Crisis

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has commended the Central Bank of Nigeria (CBN) and the Nigerian Deposit Insurance Corporation (NDIC) for ensuring the safety of depositors’ funds in the nation’s financial system in the face of global economic disruptions over the past two years. The minister, in her opening […]

Banking Economy News Extra Insurance & Pension Investments/Capital Market Latest News Planning & Economic Development

First Pension Custodian Completes Acquisition Of Access Pension Fund Custodian

FBN Holdings Plc has announced the completion of the acquisition of 100% of the share capital of Access Pension Fund Custodian Limited, a subsidiary of Access Bank Plc by First Pension Custodian Nigeria Limited, a subsidiary of First Bank Nigeria Limited. The Group’s Company Secretary, Barrister Adewale Arogundade, made this disclosure in a statement sourced […]

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PenCom Revises Retirement, Terminal Benefits’ Regulation

The National Pension Commission (PenCom) has released a revised Regulation on Retirement and Terminal Benefits for immediate implementation by PFAs and other stakeholders involved in the nation’s pension management. Specifically, the revised regulation contains new provisions on Pension Enhancement, Voluntary Contributions, payment under the Micro Pension Plan (MPP), payment of benefits of missing persons and […]

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Tackling Banks’ Distress Crucial To Financial System Stability – NDIC

The Nigeria Deposit Insurance Corporation (NDIC) has said that effective resolution of banks in distress as critical to guaranteeing depositors’ protection in the country. The corporation, on its official Twitter handle on Thursday, tweeted that the effective resolution of lender’s crisis would also ensure the stability of the financial system. According to the tweet, developing […]

Banking Insurance & Pension Latest News Planning & Economic Development Professionals & HR Devt.

BOA Transfers 831 Defunct NACB Pensioners To PTAD

The Pension Transitional Arrangement of Directorate (PTAD) on Wednesday disclosed that the Bank of Agriculture (BoA), had transferred 831 pensioners of the “Defunct Nigerian Agricultural Cooperative Bank (NACB)” to it for management. The Executive Secretary of the directorate, Dr. Chioma Ejikeme, gave this hint during the verification of the BoA pensioners in Abuja. While commending […]

Insurance & Pension Latest News Planning & Economic Development Technology

FG To Order MDAs On Compulsory Insurance Of Public Assets

The Federal Government has said it will soon issue a circular to all Ministries, Departments and Agencies (MDAs) for compulsory insurance of all government assets. Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, disclosed this  in Abuja when he received the governing board of the National Insurance Commission (NAICOM). Mustapha, who was […]

Budgeting Economy News Extra Insurance & Pension Investments/Capital Market Latest News

Swiss Re Launches Insurance-Linked Investment Advisors Corporation

Swiss Re, the world’s leading re-insurance company,  has enhanced its insurance-linked securities (ILS) offering with the launch of Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), a new investment advisory entity with a particular focus on catastrophe bonds. According to Swiss Re, the corporation which its wholly owned subsidiary, adopts an investment strategy that complements that […]

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We Paid N326.32Bn As Benefits To Retirees In 2021 – PenCom

The National Pension Commission (PenCom)  reported that it paid N326.32 billion as retirement benefits to retirees enrolled in the Contributory Pension Scheme (CPS) in 2021. The commission, in its just published 2021 Annual Report indicated that the payments comprised retirement benefits and a 25 percent payout due to temporary loss of job during the year. […]