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...

Disengaged Workers Withdraw N201bn From Pension Fund – PenCom   No fewer than 466,812 workers who were disengaged from their jobs have withdrawn N201.22bn from their Retirement Savings accounts, amounting to a quarter of their total savings as of the end of first quarter of 2023. Figures...

Arik Air Denies Diversion Of N120bn Fund   The management of Arik Air Limited (in receivership) has dismissed allegations of misappropriation of funds to the tune of N120 billion. The Economic and Financial Crimes Commission (EFCC) had reportedly detained the Receiver Manager appointed by the Assets Management...

Nigeria Spends Over $500m On Dairy Imports Annually, Says Obaseki   The Edo State Governor, Mr. Godwin Obaseki, has said the nation spends about $500m annually on dairy product imports. As a result, he said the country needed to refocus on agriculture and production to drive economic...