SECTOR INSIGHT

Pension Contributions Decreased to N880bn in 2021, Says PenCom

The National Pension Commission (PenCom) says the total pension contributions remitted into the retirement savings account (RSAs) of employees dropped to N880.66 billion at the end of 2021. This is contained in the 2021 annual report recently released by the commission. According to…

03/08/2022 0Comments

Cybercrime Rises as Phishing Hits 174% in Nigeria, 438% in Kenya

Menace of cybercrime in Africa sustained a huge rising profile in the first six months of the year with phishing and scams hitting 438 per cent and 174 per cent in Kenya and Nigeria respectively. Kaspersky, which revealed this, in its new analysis…

03/08/2022 0Comments

Operational challenges hamper 5G deployment this month

Few days to the deployment of the Fifth-Generation (5G) network in Nigeria, investigations have shown that the licensees, MTN Nigeria and Mafab Communications, may not be ready to deploy the service from August 24, as a result of lingering infrastructural and licensing…

03/08/2022 0Comments

NDIC Insists Investment with Illegal Fund Managers at Owners’ Risk

The Nigeria Deposit Insurance Corporation (NDIC) yesterday warned the public about the high risk associated with investing funds with illegal fund managers. The caution came against the backdrop of the recent increase in investment channels arising from innovative products. The corporation noted that there…

03/08/2022 0Comments

Crude Oil Theft Hurting Nigeria’s Economy, Shell Laments

Shell Petroleum Development Company (SPDC) of Nigeria has expressed concern that crude oil theft remains a major challenge affecting the Nigerian economy. The Head, Corporate Relations, Nigeria and Director SPDC of Nigeria Limited, Mr. Igo Weli, said this yesterday in Port Harcourt, during…

03/08/2022 0Comments

How CBN’s Tight Monetary Policies Hit Stock Market

The stock market plays an important role in mobilising domestic resources for productive investments. The stock market is regarded as an integral component of most economies since it signals the reallocation of assets among different economic units within an economy. The performance of the…

02/08/2022 0Comments

OPEC’s New Head Assumes Office, Engages Nigerian Media on Stabilising Oil Market

The new Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Kuwaiti’s Haitham Al Ghais, yesterday engaged the Nigerian media on his immediate plans for the oil industry, hours after he assumed duty as the new head of the organisation. Al Ghais,…

02/08/2022 0Comments

UBA Announces New GMD, Executive Board Appointments

The United Bank for Africa Plc (UBA), Africa’s global bank, yesterday announced the appointment of Mr. Oliver Alawuba as its Group Managing Director. Alawuba is to oversee all the Group’s banking operations across its 20 African country network and globally in the United…

02/08/2022 0Comments

NCC Chairman, Stakeholders Lament Destruction of Telecoms Infrastructure

The Chairman, Nigerian Communication Commission (NCC), Prof. Adeolu Akande, has expressed worries over incessant theft and vandalisation of telecommunication infrastructures across the country. This is just as he said the persistent challenges consumers were experiencing while making calls were mostly caused by the…

02/08/2022 0Comments

Sylva: Future of Nigeria, Others’ Oil, Gas Industry Bright

The Minister of State for Petroleum Resources, Chief Timipre Sylva, yesterday has said the future of Africa’s oil and gas industry remains very bright despite the challenge posed by energy transition. The minister stated this in Lagos at the 45th Nigeria Annual International…

02/08/2022 0Comments

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