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Over 90% of informal workers abandon personal pension

  • 27th July 2026

Oando plans power generation from abandoned oil wells

  • 27th July 2026

Senate replaces outdated insurance law with new regulatory

  • 27th July 2026

Nigeria secures $155m clean energy investments

  • 26th July 2026

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Over 90% of informal workers abandon personal pension plan

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Insurance

92% of personal pension plan accounts dormant — PenCom

Amidst efforts by the National Pension Commission to include informal sector workers in the pension scheme, the Personal Pension Plan which caters to the informal sector, has remained stagnant. While the PPP has 215,412 registered Retirement Savings Accounts only 17,320 of these RSAs, which represents eight per cent, have received contributions. The remaining 198,092 RSAs, […]

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Only 6% of Nigerians can access formal credit — Mutual Benefits

Mutual Benefits Assurance Plc has said a situation where only about six per cent of adults can currently access credit through formal financial institutions, is not ideal. According to the company, while access to credit remains important for economic growth, financial protection mechanisms are equally essential in helping individuals and businesses withstand economic shocks. Vanguard […]

Policy and Regulations

FG denies plans for new fuel, telecom taxes

The Federal Government has said it is not considering the imposition of fuel and telecommunications taxes. It was reacting to reports suggesting that it has adopted or is considering new taxes on telecommunications services and petroleum products following the recommendation of the International Monetary Fund Article IV Consultation Report on Nigeria. Vanguard reported that the […]

featured Finance

Naira stable at ₦1,360/$ in official FX market as liquidity improves

The naira traded relatively stable against the United States dollar at the Nigerian Foreign Exchange Market on Thursday, June 18, 2026, as traders continued to monitor foreign exchange liquidity and demand pressures across the market. Data published by the Central Bank of Nigeria (CBN) showed the official exchange rate hovering around the ₦1,360 per dollar […]

Business

PenCom, NURTW move to enrol nine million transport workers

The National Pension Commission and the National Union of Road Transport Workers have commenced talks on a partnership to bring an estimated nine million transport workers into the Personal Pension Plan under Nigeria’s Contributory Pension Scheme. The development was disclosed in a statement issued by PenCom on Wednesday after the NURTW National President, Musiliu Akinsanya, […]

Maritime

Truck owners upgrade database to boost maritime haulage transparency

The Association of Maritime Truck Owners has upgraded its Members Web Application Database as part of efforts to strengthen professionalism, transparency, and operational efficiency within the maritime haulage sector particularly in Lagos ports. AMATO disclosed that the latest round of improvements was carried out entirely by its in-house technical team without the involvement of external […]

Telecommunications

Telcos dismiss fears NCC’s MTR review will raise tariffs

Telecommunications operators in Nigeria has dismissed notions that the recent attempt by the Nigerian Communications Commission to commission a cost-based study to determine fresh mobile termination rates, will lead to increase in telecom tariffs in the country. The telcos said such assumptions would only wrongly preempt the outcome of the market study and throw the […]

Business

Dunamis terminal denies responsibility for Ago palace gridlock

Officials of Dunamis Inland Terminal have distanced the facility from the recurring gridlock along Ago Palace Way, insisting that the congestion is largely caused by the poor condition of the road and seasonal rainfall rather than truck operations linked to the terminal. Vanguard reported that the clarification comes on the heels of a recent return […]

Business

FG ends mandatory stamp duty deductions by MDAs

The Federal Government has directed all Ministries, Departments and Agencies to immediately stop deducting the one per cent stamp duty previously charged on payments to contractors, vendors, suppliers and service providers, in line with the provisions of the Nigeria Tax Act 2025. The directive was conveyed in a Federal Treasury Circular dated June 15, 2026, […]

Business

New NIA chairman unveils blueprint for insurance sector growth

The incoming Chairman of the Nigerian Insurers Association, Mrs. Ebelechukwu Nwachukwu, has unveiled a strategic blueprint anchored on collaboration, public trust, and regulatory compliance. Vanguard reported that speaking at a pre-investiture press conference in Lagos on Wednesday, Nwachukwu who is the Managing Director of REX Insurance Company Limited said that she also targets transitioning insurance […]

Business

Nigeria’s crude oil output could reach 1.9mbpd – NUPRC

Nigeria’s crude oil production has the potential to increase to 1.9 million barrels per day in the near term, following recent gains in output, according to the Nigerian Upstream Petroleum Regulatory Commission. The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, made this known on Wednesday during a meeting with the Chairman of the Nigeria […]

Economy

Nigeria’s current account surplus hit $4.98bn in Q1 — CBN

The Central Bank of Nigeria on Wednesday said the nation’s current account surplus grew year-on-year by 46 per cent to $4.98 billion in the first quarter of 2026. The apex bank disclosed this in its Balance of Payments report for Q1’26 noting that the current account surplus also grew quarter-on-quarter by 255.7 per cent from […]

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