PenCom Recovers N608.55m From 25 Defaulting Employers   The National Pension Commission has said it recovered N608.55m from 25 employers who deducted the monthly emoluments of their workers but did not remit to their respective Pension Fund Administrators. PenCom said this in its first-quarter 2021 report obtained...

Electricity Subsidy Gulps N30bn Monthly - FG       The amount spent on subsidising electricity every month in Nigeria is now about N30bn, the Federal Government has said. It disclosed that the government’s subsidy on electricity had been reduced by N20bn monthly following improvements in the collection of...

PTAD Gets £26.5m Repatriated Pension Funds From UK       The Pension Transitional Arrangement Directorate on Tuesday announced that it had received the sum of £26,505,862.97 repatriated from the United Kingdom. It said the pension funds had hitherto been under investment with Crown Agents Investment Management Limited in the...

Microfinance Banks’ Total Assets Rise To N1.01trn     The total assets of the microfinance banks rose by N251.02bn from N758.98bn as of the end of July 2020 to N1.01tn as of the end of December 2020 as the firms moved to achieve their recapitalisation requirements. This was...

Senate Passes N329.96bn As Statutory Budget For FCT       The Senate on Tuesday approved N329.96bn as statutory budget for the Federal Capital Territory for the year 2021. The passage followed the consideration of the report of the Committee on Federal Capital Territory on the FCT Appropriation Bill,...

Shipment: FG Loses N5bn Revenue To Importers Through Wrong Declaration     The federal government has been advised to return the Standard Organization of Nigeria, (SON) to the ports in a bid to ascertain the difference between raw materials and finished goods imported into the country under...