Tag: CBN

Pension remittances: 20 firms default, pay N211.5m penalty
News

PFAs invest N74.54bn in infrastructure, investors eye pension funds

Pension Fund Administrators invested N74.54bn in infrastructure from the N13.76tn under the Contributory Pension Scheme as of the end of February 2022. This was contained in the latest figures obtained from the National Pension Commission. Investors have continued to lobby operators of the scheme to pump more of the funds into infrastructure development. The Governor […]

Trapped funds: CBN to give foreign airlines $150m
Economy

Massive job cut looms as dollar hits N590

The lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1, our correspondent has learnt. The development may lead to massive job loss in the manufacturing industry, among other sectors, according to the Manufacturers Association of Nigeria. The development comes over […]

Reps pass tax crimes commission bill for second reading
Policy and Regulations

Enforce use of coins, Reps urge CBN

The House of Representatives has urged the Central Bank of Nigeria to “reinforce the use of coins as a legal tender and ensure that banks comply with the use of coins to the fullest.” Members of the House had at the plenary on Tuesday unanimously adopted the motion moved by a member, Muda Umar, titled ‘Call […]