Unity Bank Plc has reiterated its commitment to lending more to farmers and supporting them in getting more value for their farm produce. The bank is partnering with Binkabi, a blockchain-based commodity trading network to ensure that farmers get the right pricing and profitability for their produce. The Head, Risk Management and Compliance, Unity Bank, […]

The National Pension Commission (PenCom) has collected N7.79 billion from employers that defaulted in remitting pension contribtutions deducted from their employees’ Retirement Savings Account (RSAs). The cash which is the total recoveries made from inception of the Contributory Pension Scheme (CPS)  to date, represents two per cent interest of the amount deducted and not remitted […]

The proposed 7.2 per cent Value Added Tax (VAT) proposal by the Federal Executive Council (FEC) is expected to generate additional N479.7 billion in revenues based on the N1.1 trillion collected in 2018, analysts at Afrinvest West Africa, have said. They explained that based on the sharing formula, the Federal Government is to receive additional […]

The Organisation of Petroleum Exporting Countries (OPEC) has projected a 3.1 per cent growth in global Gross Domestic Product (GDP) next year, from the expected 3.0 per cent by the end of this year. In its September 2019 Monthly Oil Market Report (MOMR), it said after two years of relatively high growth levels, global GDP […]

Domestic airline, Aero Contractors, has concluded plans to begin flight operations on the Benin-Lagos route, with the first flight scheduled for Monday (today). The Head, Ground Operations, Aero Contractors, Peter Omata, said the expansion was based on growing passenger movement from the Benin Airport. He said the inaugural flight would leave Lagos for Benin City […]

The Nigeria LNG Limited, the operator of Africa’s largest natural gas plant, has said it is in talks with lenders for N10bn loan to enable it to finance its Train 7 project. The Chief Executive Officer, Mr Tony Attah, was quoted by Bloomberg as saying that the company was discussing with the country’s top 10 lenders, including […]

The Asset Management Corporation of Nigeria says it has intensified efforts to recover a debt of N4.5tn. The Managing Director, AMCON, Mr Ahmed Kuru, said this on Saturday in Abuja at the investiture of governing council/induction of members of the Chartered Institute of Loans and Risk Management of Nigeria. He also expressed worry over the […]

The nation’s foreign exchange reserves have declined further, falling to the lowest level since March 12, latest data obtained from the Central Bank of Nigeria on Sunday showed. The external reserves, which rose to a high of $45.18bn on June 10, 2019 from $43.17bn on January 1, dropped to $42.84bn on September 12. The reserves […]

Following the recent increase in the minimum share capital of insurers by the National Insurance Commission, insurance firms listed on the Nigerian Stock Exchange need N142.13bn to meet the requirement; FEYISAYO POPOOLA reports The National Insurance Commission on May 20 issued a circular on the increase in the minimum paid-up share capital of all classes […]