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Economy

114 Results / Page 3 of 13

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Economy

CBN Revises Documentation Requirements For PAPSS Transactions

By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has announced a significant review of the documentation requirements for transactions conducted through the Pan-African Payment & Settlement System (PAPSS) in Nigeria. According to a statement by the Bank on Monday, this initiative is part of CBN’s ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa Launched by Afreximbank in […]

todayApril 29, 2025 12 3

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Economy

Federal Government Set To Pay Arrears Of Wage Award

By Oluwakemi Kindness The Federal Government on Monday says it is set to pay the outstanding five months N35,000 wage award arrears to federal government workers. The Office of the Accountant General of the Federation (OAGF) made this known in a statement issued in Abuja by the Director Press, Bawa Mokwa. The OAGF explaines that the Federal Government had earlier paid five months wage award to federal government employees in […]

todayApril 28, 2025 17 3

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Economy

PenCom, NERC Crack Down on GENCOs, DISCOs Over Pension Arrears

By Oluwakemi Kindness The National Pension Commission (PenCom) has sought the intervention of the Nigerian Electricity Regulatory Commission (NERC) to compel electricity Generation Companies (GENCOs) and Distribution Companies (DISCOs) to remit outstanding pension contributions owed to their employees. PenCom’s Director General, Ms. Omolola Oloworaran, stated this when she led a delegation to seek NERC’s intervention in addressing the non-compliance by 16 electricity companies. According to a statement by the commission, […]

todayApril 28, 2025 16 4

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Economy

Liquidation Dividend: NDIC pays ₦46.6bn To Depositors Defunct Heritage Bank

By Oluwakemi Kindness The Nigeria Deposit Insurance Corporation (NDIC) has declared the first tranche of liquidation dividends of ₦46.6bn from the proceeds of sales of the defunct Heritage bank's assets and recovery of debts owed to the defunct institution. Liquidation dividend represents amount paid by the Corporation to depositors of a closed bank, in excess of the maximum insured limit, from the proceeds of sales of assets and recovery from […]

todayApril 28, 2025 25 5

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Economy

Ondo State to Explore Pension Funds For Infrastructural Development

By Oluwakemi Kindness Ondo State government says it is exploring opportunities to leverage pension funds for infrastructural development in the state. Governor Lucky Aiyedatiwa, made this known when he received a delegation from the National Pension Commission (PenCom) led by the Director General, Omolola Oloworaran in Akure. A statement by the Commission on Thursday says the PenCom delegation visited the Governor to discuss critical pension reforms aimed at improving welfare […]

todayApril 17, 2025 27 5

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Economy

FAAC Shares N1.578trn As March 2025 Allocation

By Oluwakemi Kindness The Federal Government, States and the Local Government Councils have shared the sum of N1.578 trillion, being March 2025 Federation Account Revenue. The revenue was shared at the April 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja;. The total revenue of N1.578 trillion comprised statutory revenue of N931.325 billion, Value Added Tax (VAT) revenue of N 593.750 billion, Electronic Money Transfer Levy (EMTL) revenue of […]

todayApril 16, 2025 21 5

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Economy

We Can Withstand Shocks From Trade War – CBN

By Oluwakemi Kindness The Central Bank of Nigeria, CBN, says it is well prepared to handle the pressure and shocks from the ongoing trade wars between the U.S and China. The Apex bank explained that it is reviewing emerging scenarios to enable it take diligent actions to weather any form of storm that may arise for the country. The Director, Banking Supervision of the CBN, Dr. Olubukola Akinwumi, stated this […]

todayApril 14, 2025 21 21

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Economy

NCS Issues 1st PAAR Under The B’Odogwu Management System

Oluwakemi Kindness The Nigeria Customs Service (NCS) has announced the successful issuance of the first Pre-Arrival Assessment Report (PAAR) under the B’Odogwu (Unified Customs Management System). It marks a significant milestone in the Service’s commitment to technology-driven trade reforms. This achievement follows the recent strategic engagement between the Comptroller-General of Customs, Adewale Adeniyi, and the Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, where both institutions reaffirmed their commitment […]

todayApril 6, 2025 16 5

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Economy

Customs Debunks Extension Of Comptroller General’s Tenure

Oluwakemi Kindness The Nigeria Customs Service (NCS) has debunk reports claiming an extension of the tenure of the Comptroller-General of Customs, Bashir Adewale Adeniyi. The NCS in a statement on Tuesday night by it spokesperson, Abdullahi Maiwada, categorically states that this information is inaccurate and misleading. The statement says for the avoidance of doubt, appointments and tenure extensions for the position of Comptroller-General of Customs are made solely at the […]

todayApril 1, 2025 12 6

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