Afreximbank Signs $350m Facility For OCP Nigerian, Others Expansion       The African Export-Import Bank has announced the signing of a seven-year $350m Term Loan Facility to provide financing to OCP Group of Morocco. The bank made the announcement in a statement it issued in Cairo, Egypt on...

Naira Depreciation: Insurance Industry Capital Base Crashes To $1bn       Naira’s depreciation has taken a toll on the capital base of the insurance industry. The capital has dropped to $1 billion from $2.2 billion. This was contained in the Agusto & Co. 2021 Nigerian Insurance Industry Report:...

2,799 Workers Change Pension Firms, Move N18.89bn         No fewer than 2,799 workers under the Contributory Pension Scheme have moved their Retirement Savings Accounts from their former Pension Fund Administrators to other operators. Statistics obtained from the National Pension Commission on its report titled ‘Update on the...

'Manufacturers Spend Over N143bn On Alternative Electricity Supply'       Manufacturers in Nigeria, in the last two years, 2019 to 2020, spent about N143.29 billion on alternative power supply, says the Manufacturers Association of Nigeria (MAN). MAN said members in 2020 spent N81.91 billion on alternative power as...

NCS Generates N5.5bn in Kano-Jigawa Command, Vows to Sustain Clampdown on Rice Smuggling, Others     The Customs Area Comptoller, Kano/Jigawa Area Command, Comptroller Suleman P Umar, has vowed that the Nigerian Customs Service (NCS) will not relent in its effort towards confiscating foreign rice and other...

Buhari Approves N5bn For NIMC - Pantami     The federal government has hacked up the capital budget of the National Identity Management Commission, NIMC from 500 million to N5 billion. The Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami disclosed this on Tuesday at the...