The National Pension Commission (PENCOM) has put the total pension assets under the Contributory Pension Scheme (CPS) at N12.3 trillion as at the end of fiscal year 2020, representing about N2.1 trillion over the assets’ value as of the end 2019. Latest figures published by the commission indicated that out of the gross asset value […]
The Federal High Court in Abuja on Friday ordered the remand of former Chairman of the defunct Pension Reform Taskforce Team, Mallam Abulrasheed Maina, in prison custody till the conclusion of his trial over money laundering charges. Maina is facing a 12-count money laundering charge preferred against him and his firm, Common Input Properties & […]
The African Development Bank’s (AfDB’s) Board of Directors has approved a $5 million investment in the SPARK+ Africa Fund to deliver clean cooking solutions to over two million households across Africa. The continental development finance institution’s investment in the project will be complemented by an additional €10 million by the European Commission’s contribution. The Bank’s […]
The National Insurance Commission (NAICOM) on Wednesday hinted that plans were ongoing to introduce micro takaful insurance in Kano State as a means of providing an accepted and accessible insurance system for the largely Muslim populace in the state. The industry regulator’s Head of the Microinsurance Unit, Hajia Aisha Bashir, made the disclosure at a […]
Fitch Ratings has assigned African Risk Capacity Limited (ARC Ltd), the commercial subsidiary of the African Risk Capacity Group (ARC Group), an ‘Insurer Financial Strength (IFS) Rating of ‘BBB+’ and a ‘Long-Term Issuer Default Rating (IDR) of ‘BBB’ with a stable outlook. Announcing the rating on its website, the global financial rating firm indicated that […]
The African Risk Capacity Limited (ARC Ltd), the commercial subsidiary of African Risk Capacity Group (ARC Group), has announced a partnership agreement with Insuretech Pula to deliver best-in-class agriculture index insurance products to protect African farmers from climatic risks. The pact was partly sealed based on the lingering challenges facing African farmers every farming season, […]
The Nigerian capital market investors started trading bullishly on Monday with the Nigerian Stock Exchange’s All Share Index (ASI) rising by 0.16 percent or 16 bases points over the last trading’s ASI to close at 27,035.78 points. Largely, the positive trend in the index was buoyed by gains recorded by some blue chip stocks, including […]
The Securities and Exchange Commission (SEC) has removed the regularisation deadline earlier set for shareholders that opened accounts for the purchase of shares with different names to regularise them. The removal of the deadline, which was confirmed in a statement by the commission issued on Sunday, was part of the outcome of the third Capital […]
The Nigeria Sovereign Investment Authority (NSIA) on Thursday disclosed that it posted N68.3 billion as profit from January 2018 to June 30 this year from its various investment activities. The Managing Director of state-owned investment authority, Mr Uche Orji, who made the disclosure at the end of the National Economic Council (NEC), meeting held in […]
The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Mr Umaru Ibrahim, has restated the corporation’s zero tolerance for corruption and all forms of malpractices in the implementation of its mandate and activities. Giving the assurance during the inauguration of four new members to the corporation’s Anti-Corruption and Transparency Unit (ACTU) by the Chairman of […]