PFAs Pay 11,796 Disengaged Workers N5.33bn       The Contributory Pension Scheme (CPS) has continued to relieve pressure on workers who lose their job, by paying them 25 per cent out of their pension. According to the National Pension Commission (PenCom), 11,796 workers who lost their jobs were...

Banks Lost Over N5bn To Fraudsters In Nine Months — NDIC       The Nigeria Deposit Insurance Corporation (NDIC) has stated that it is in collaboration with sister agencies in law enforcement to curtail cybercrimes especially in the financial system. Speaking at the annual capacity building programme for...

Insurers Make N10.1bn From Life Annuity In Q4, 2020       Insurance companies providing Retiree Life Annuity (RLA) to retirees under the Contributory Pension Scheme (CPS) received N10.1 billion premium, in the fourth quarter of 2020. Life Annuity is a series of monthly or quarterly payments paid to...

Emefiele Meets Senate Today On Alleged Missing $9.5m PPT Fund       The Governor of Central Bank of Nigeria, Godwin Emefiele, is expected to lead top management staff of the Central Bank of Nigeria to the Senate today (Tuesday). They are expected to explain details of the alleged...

CBN Yet To Disburse N600bn Manufacturing Intervention Funds       The Central Bank of Nigeria (CBN) says N600 billion out of the N1 trillion COVID-19 intervention fund for manufacturers is still awaiting disbursement. CBN Governor, Godwin Emefiele, who disclosed it at the weekend, said N400 billion has already...

PenCom Recovers N553.03m From Defaulting Employers       The National Pension Commission has said it recovered N553.03m from defaulting employers who deducted their workers monthly emoluments but failed to remit to their Retirement Savings Accounts with their respective pension fund administrators. PenCom disclosed this in its monthly report...