Pension Investments In FGN Securities Rise To N9.64trn   Pension Fund Administrators have increased the value of investments in FGN Securities from N9.19 trillion as at September 30, last year to N9.64 trillion as at last December. This represents N451.82 billion increase or 4.92 percentage increase. According to...

Kogi Gov't Orders Arrest of Persons Rejecting Old Notes The Kogi State Government on Friday ordered the arrest and prosecution of individuals and businesses rejecting the old naira notes. A statement by Commissioner for Information, Kingsley Fanwo congratulated Nigerians on the “historic ruling of the Supreme...

Customers Reject Deposit Conditions As Banks Dispense Old Notes More Commercial Banks have begun to dispense old N1,000 and N500 notes to their customers, about three days after a few banks started doing so. Findings revealed that Polaris Bank and First Bank had started to pay...

Open Banking: CBN Issues Guidelines for Financial Stability The Central Bank of Nigeria has issued operational guidelines for open banking to ensure stability in the nation’s financial system. The apex bank in a circular referenced, ‘PSM/DIR/PUB/CIR/001/043’, and dated March 7, 2023, said the guidelines would create...

N24bn Recovered From Defaulting Employers - PenCom   The National Pension Commission (PenCom) says it has recovered N24.15bn non-remitted pension savings of employees from defaulting employers. It disclosed this in its fourth quarter report for 2022. The report stated that, “Following the issuance of demand notices to defaulting...

UPDATE: Supreme Court Scolds Buhari, Emefiele for Disobeying Order on Old Naira Notes  The Supreme Court of Nigeria has described as dictatorial and undemocratic the decision of President Muhammadu Buhari to disobey its earlier order on the continuous use of old N200, N500 and N1000...