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Withdraw N201bn From Pension Fund – PenCom   No fewer than 466,812 workers who were disengaged from their jobs have withdrawn N201.22bn from their Retirement Savings accounts, amounting to a quarter of their total savings as of the end of first quarter of 2023.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

FG Secures $750m World Bank Loan For Power Projects   The World Bank Group has approved a loan of $750m to boost Nigeria’s power sector. The loan with project ID P174622 was approved on June 9, 2023, making it the first World Bank loan approved under the...

Palliative: FG Considers N702bn as Allowance for Workers Over Subsidy Removal   The National Economic Council has considered recommendations from the National Salaries Income and Wages Commission to pay N702bn as cost of living allowance to civil servants as part of intervention plans to mitigate the...

Election Uncertainties Trigger Increase In Consumer Loans to N2.45trn   Banks increased consumer loans to N2.45 trillion in February 2023, up by 5.6 per cent from N2.32 trillion in December 2022. Financial industry experts attributed the development to an increase in demand occasioned by apprehension about the...