NAICOM Tasks Insurers On N463.1bn Annuity Business       The National Insurance Commission (NAICOM) has expressed worry over the declining participation of life companies in retiree life annuity (RLA) business, which is considered a huge opportunity for the industry. RLA is a pension benefit administered by life insurance...

Nigeria Imports N1.62trn Petrol In Nine Months         Nigeria spent a total of N1.62tn on the importation of Premium Motor Spirit (petrol) from January to September, the latest data obtained from the National Bureau of Statistics have shown. The country spent N1.72tn on petrol imports in the...

Oil, Power Firms Owe Nigerian Banks N5.83trn – NBS         The debts owed by energy firms to Nigerian banks rose by N200bn to N5.85tn in the third quarter of this year, according to the National Bureau of Statistics. The N5.85tn represents 29.44 per cent of the N19.87tn...

Customs Generate N21bn In Jigawa, Kano     The Jigawa/Kano Command of the Nigeria Customs Service (NCS) has generated N21.01 billion this year 2020 despite the COVID-19 challenges, the Controller, Comptroller Suleiman Umar said. Umar said the N20bn target for the year was surpassed noting that “this is...

FG Disburses $1.1m Grant To Boost Solar Power In Rural Areas         The Managing Director/Chief Executive, Rural Electrification Agency (REA), Mr. Ahmad Salihijo, said the agency had disbursed over $1.1 million to 12 solar power companies as part of efforts to boost rural electrification across the...

Customs Intercept Textiles, Rice Worth N1.42bn In Lagos         The Comptroller General of Customs’ Strike Force Team on Wednesday said it has intercepted 564 bales of textiles materials falsely declared as machinery, foreign parboiled rice, footwears and foreign bags worth N895m. Speaking while unveiling the seizure, the...