114,837 Retirees Collected N28.46bn, Quit Pension Scheme – Report       Many workers whose employers did not adequately fund their Retirement Savings Accounts and retired with balances less than N550,000 have collected their contributions and left the Contributory Pension Scheme. As of the end of June 2020, about...

Annual Capital Flight In Telecoms Now $2.16bn – Fed Govt         The capital flight in Nigeria’s telecommunications sector is as high as $2.16bn annually, the Federal Government has declared. Minister of Communications and Digital Economy, Isa Pantami, made the declaration at the Digital Nigeria Day, quoting a...

Access Bank Announces N50bn Interest-free Loan For Businesses       Leading financial institution in Nigeria, Access Bank Nigeria Plc. has announced N50 billion in support of Nigerians through interest-free loans and grants to support communities, the youths, and micro, small and medium-sized businesses. “Now more than ever, we...

Total Pension Assets Hit N11.35trn         Despite the effect of the COVID-19 pandemic on the economy, the total assets under the Contributory Pension Scheme rose to N11.35tn as of the end of August, the latest figures from the National Pension Commission revealed on Wednesday. According to the...

Fed Govt To Spend N204bn On Power Projects, Salaries       The Federal Government will spend N204.4 billion on projects and salaries for agencies and the Federal Ministry of Power in 2021. According to the budget proposal of the ministry, out of the N204bn budgeted, N198.3bn was for...

Reps Probe NDDC N6.2bn COVID-19 Fund Diversion, N139bn Fraud         The House of Representatives has begun investigation into the alleged diversion of N6.2bn meant for COVID-19 palliatives under the Niger Delta Development Commission at the peak of the pandemic. The House is also investigating the mismanagement of...