Business

NNPC in another corruption scandal

The Nigerian National Petroleum Corporation (NNPC)  is in the middle of another corruption scandal following the revelations that the body is yet to remit about N1.78 trillion accruing from crude oil sales into the government’s coffers. We gathered that from January 2016 to September 2017, NNPC has about N460. 649bilion …

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​Heritage Bank may be facing liquidity challenges

Hadiza Bala Usman, Managing Director of the Nigerian Ports Authority (NPA) may have unwittingly disclosed that Heritage Bank may be facing liquidity challenges, as the bank had refused to release $21.3 million belonging to the agency. She made the disclosure while appearing before a House of Representatives Committee investigating compliance with the Treasury …

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Stanbic IBTC Pension Managers Ltd pays over N279 billion to retirees

  Affirming its status as Nigeria’s largest Pension Fund Administrator (PFA), Stanbic IBTC Pension Managers Limited has paid over N279 billion to retirees since its inception in 2006. Between January and June this year, over 5,000 new retirees also received their benefits from the PFAincreasing the number of individual retirement savings account (RSA) holders nationwide with it to over 1,500,000. A total of N16.6 …

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