Business

The Federal Government has approved the issuance of a license to Nigerian University Pension Management Company Limited to carry out the business of a Pension Fund Administrator. The National Pension Commission stated that the approval was consequent upon a detailed evaluation of NUPEMCO’s compliance with the requirements, terms and conditions stipulated by the commission. According […]

Between November 25 and December 19, the amount in the Excess Crude Account declined by about $1.68bn, statistics obtained from the Federation Account Allocation Committee have revealed. As of November 25 when the FAAC committee meeting was held to allocate revenue for that month, the balance in the ECA was put at $2.319bn. However, at […]

Jail terms are no longer enough to stop illicit financial flow, President Muhammadu Buhari said yesterday. According to him, stringent actions should be taken against perpetrators of illicit financial flows, including crackdown on safe havens and return of stolen assets to countries of origin. Buhari was delivering his statement on “Illicit Financial Flows (IFFs) and […]

The Central Bank of Nigeria (CBN) received a total of 1,439 and 2,451 complaints against banks and other financial institutions in the first half of the year. The data is contained in the half-year economic report for 2018 released by the regulator . The report said the complaints were received, compared with 1,141 and 1,270 […]

The Central Bank of Nigeria (CBN) yesterday unveiled operational guidelines for Payment Service Banks (PSBs). The move is in furtherance of the CBN’s mandate of promoting a sound financial system and enhancing access to financial services for low income earners and unbanked segments of the society. The PSBs are to operate mostly in the rural […]


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