NERC May Okay Tariff Hike As Electricity Subsidy Hits N2.8tn   There are strong indications the Federal Government may consider the request by power distribution companies for a review of their tariff, as the government spending on electricity subsidy has risen to N2.8tn. A new report by...

Bank Customers Lose N472m To Fraudsters In Three Months - Report A report by FITC has revealed that bank customers in Nigeria lost N472m to fraud in the first quarter of 2023. It was also disclosed that there was a total of 12,553 cases of fraud...

Customs Arrests 344 Smugglers, Impounds N3bn Smuggled Rice   The Nigeria Customs Service (NCS) seized a total of N3.02bn worth of smuggled rice between May 2022 and May 2023. Data obtained from the service through its National Public Relations Officer, who is a Chief Superintendent of Customs,...

108,552 Retirees Receive N217bn, Says PenCom   No fewer than 108,552 annuitants received N216.66bn lump sum under the Contributory Pension Scheme as of the end of the first quarter of 2023, figures obtained from the National Pension Commission (PenCom) have revealed. This amounted to about a quarter...

FG Says Discos Failed To Remit N208bn In 2022   Power distribution companies failed to remit a total of N208.8bn to the Nigeria Electricity Supply Industry in 2022, the Federal Government has said. Figures obtained on Sunday from the latest Fourth Quarter 2022 Report of the Nigerian...

N15trn Pension Assets, Proof Of CPS’ Effectiveness – PenCom The National Pension Commission (PenCom) has described the Contributory Pensions Scheme (CPS) introduced in 2004 as a very successful initiative, having consistently grown the nation’s pension assets from N2 trillion at inception, to N15 trillion today. The...