CBN Defends Naira With $8.28bn Forex Sales   THE Central Bank of Nigeria (CBN) defended the naira with $8.28bn through its direct intervention within the first six months of this year, according to its half year report. The amount was given to different segments of the inter-bank...

Life Annuity Fund Hits N323bn - NAICOM     The insurance industry life annuity fund portfolio has grown to N322.9bn as at the end of the second quarter of 2019, data released by the National Insurance Commission (NAICOM) has shown. This represents a growth of 17.46 percent from...

NMRC, Kaduna Sign N3bn Mortgage Pact     The Nigeria Mortgage Refinance Company has signed an agreement with the Kaduna State Government and Federal Housing Authority Mortgage Bank to create affordable mortgages in the state. The agreement, known as Mortgage Blended Initiative, is aimed at mortgage creation and...

PFAs Record N1.69trn profit From Pension Fund Investments     Return on investment accounts for more than 18 per cent of the nation’s total pension assets. The Pension Funds Administrators have earned a profit of N1.69trn since investing workers’ pension contributions from inception of the scheme till the...

Sept Foreign Reserves Slide By $1.76bn To $41.85bn     Following the unstable global oil prices, the nation’s foreign reserves dropped by $1.76bn or 96 per cent in September to $41.85bn, from the $43.61bn at the beginning of the month. The latest figure by the Central Bank of...

Nigeria Loses $2.7bn Yearly To Illegal Fishing, Piracy   Nigeria and 15 other countries in the Gulf of Guinea lose $2bn to pirate attacks annually. The nation is also said to be losing $70m annually to illegal fishing in its territorial waters. The Chief of Naval Staff, Rear...