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 […]
An Ondo State High Court sitting in Akure, has ordered that the Nigerian Breweries (NB) Plc depot in Akure be sealed off pending the payment of the company’s tax liabilities in firm of haulage fees, totaling N169.175 million to the state government. The judge, Justice William Akintoroye, also granted the cross-petition of the state government […]
Despite the COVID-19 pandemic’s devastating impact across the broad spectrum of the global economy last year, the initial public offering (IPO) sub-segment of the global equities market recorded a whopping $268.0 billion value from a total of 1,363 IPOs deals, demonstrating the resilience of equity and capital markets. A research data analyzed and published by […]
There are strong indications that petrol pump price per litre and may be hiked within the next two weeks as the Federal Government is considering a 20 percent adjustment in the cost of freighting petrol across the country. The move, which is part of measures by the fiscal authorities to boost the revenue of transport […]
The Nigerian Economic Summit Group (NESG) has projected that Nigeria’s economy will record a growth rate of 2.9 percent in 2021, representing 1.5 percent higher growth rate than earlier predicted by the International Monetary Fund (IMF). To meet its projection and shape the nation’s economy’s outlook this year, the group, in its 2021 Macroeconomic Outlook […]
In furtherance of its fiscal policy objectives of translating the recovered assets into funds, the Federal Government has invited bidders to bid for the sundry assets. The assets, which were recovered or forfeited by suspects facing corruption charges and are located in 25 states, include vehicles, ships, plants, boats, and machinery as well as electronics […]
The National Bureau of Statistics (NBS) on Wednesday announced that it had commenced National Business Sample Survey (NBSS), otherwise known as the survey of establishments, nationwide. The kick off the exercise was sequel to the successful completion of listing of Establishments, a component of National Business Sample Census (NBSC). A statement released by the agency’s […]
The Federal Government has extended the deadline of the ongoing National Identification Number (NIN) and Subscriber Identity Module (SIM) integration exercise by eight weeks, setting April 6, 2021 as final date for subscribers’ full compliance with its directive on the exercise. The Minister of Communications and Digital Economy, Dr. Isa Ali Pantami, gave this hint […]
The Nigeria Deposit Insurance Corporation (NDIC) has flawed the decision of the Investments and Securities Tribunal (IST) on case No. IST/OA/03/19 between Winners Medical Diagnostics Ltd and Ecobank, saying the Tribunal misconstrued and consequently misapplied the clear provisions of the relevant laws governing bank liquidation in Nigeria. The corporation’s stance on the decision was expressed […]
Leading ratings agency, S&P Global, has affirmed its “AAA/A-1+” foreign currency issuer credit rating of the African Development Bank with a stable outlook. The ratings agency, in a letter, dated 29 January 2021, stated that its outlook reflected the expectation that the African Development Bank (AfDB) would, over the next two years, “prudently manage its […]