NEXIM Bank Secures BBB+ Rating, Doubles Profit to ₦30.47bn
By Oluwkemi Kindness The Nigerian Export-Import Bank (NEXIM) has earned a “BBB+” credit rating from Agusto & Co., confirming its strong financial position and ability to meet obligations among Nigeria’s development finance institutions. According to reports, in 2024, NEXIM posted an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in 2023. […]
SEC DG Pushes for Urgent West African Capital Market Integration
By Oluwakemi Kindness Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has called on West African countries to fast-track capital market integration. This is as he warns that delay will limit the region’s ability to mobilise the massive investments needed for economic transformation. Speaking in Abuja at the Experts Meeting on Validation […]
Avoid Ponzi Schemes, Save Safely -NDIC Warns Nigerians
By Oluwakemi Kindness The Nigeria Deposit Insurance Corporation (NDIC) has issued a fresh warning to Nigerians against falling victim to Ponzi schemes and fraudulent investment platforms. It stresses that only funds kept in licensed and insured financial institutions are protected. The caution was delivered during the NDIC Special Day at the 20th Abuja International Trade […]
No Retiree Will Be Left Behind – PenCom
By Oluwakemi Kindness Speaking at the Stakeholders’ Conference on the Workings of the CPS in Abuja, PenCom’s Director General, Omolola Oloworaran, described the gathering as “a continuation of a national conversation that directly impacts the lives, dignity, and future of millions of Nigerian workers and retirees.” Represented by the Acting Commissioner for Technical, Hafiz Kawu-Ibrahim, […]
Tinubu to Inaugurate Renovated National Theatre on Independence Day
By Oluwakemi Kindness President Bola Tinubu will on Wednesday, October 1, inaugurate the newly renovated National Arts Theatre, Iganmu, Lagos, as part of events marking Nigeria’s 65th Independence Anniversary. The project, executed by the Central Bank of Nigeria (CBN) and the Bankers’ Committee, is described as a major investment in Nigeria’s cultural heritage and creative […]
SEC Warns Nigerians Against AI-Generated Investment Scams
By Oluwakemi Kindness The Securities and Exchange Commission (SEC) has raised alarm over a surge in artificial intelligence (AI)-driven investment scams in Nigeria. It is warning the public to be vigilant against platforms offering guaranteed profits and fake celebrity endorsements. The regulator in a statement on Sunday recalled that unlicensed platforms such as CBEX, Silverkuun, […]
PenCom Raises Capital Base for Pension Operators
By Oluwakemi Kindness The National Pension Commission (PenCom) has announced a major increase in the minimum capital requirements for Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs). It describes this as a strategic move to strengthen Nigeria’s pension industry and protect workers’ retirement savings. In a circular signed by the Director of Surveillance, A.M. […]
FG Reaffirms Crude-for-Naira Policy, Assures Steady Fuel Supply
By Oluwakemi Kindness The Federal Government has restated its commitment to the crude-for-naira initiative, assuring Nigerians that there will be no disruption in the supply of refined petroleum products across the country. This is according to a statement issued on Sunday by the Director of Information and Public Relations at the Federal Ministry of Finance, […]
PenCom, TUC Partner to Safeguard Nigerian Workers’ Pensions
By Oluwakemi Kindness By Oluwakemi Kindness The National Pension Commission (PenCom) has reaffirmed its commitment to work more closely with the Trade Union Congress of Nigeria (TUC) to strengthen pension compliance and safeguard the retirement savings of Nigerian workers PenCom Director General, Ms. Omolola Oloworaran, gave the assurance during a courtesy visit to the TUC […]
CBN Cuts Interest Rate to 27% to Boost Economy
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has reduced the benchmark interest rate, the Monetary Policy Rate (MPR), by 50 basis points to 27 per cent to support growth and ease borrowing costs. The decision was announced on Tuesday by the Governor of the CBN, Olayemi Cardoso, at the end of it 302nd […]