The Chairman of the Investments and Securities Tribunal (IST), Amos Azi, has disclosed that the newly enacted Investments and Securities Act now prescribes punitive measures of no less than ten million naira against operators of Ponzi schemes. Azi made this
The National Pension Commission (PenCom) has issued a new directive that prohibits transacting with service providers and vendors that do not remit pensions for their employees as evidenced by a Pension Clearance Certificate issued by PenCom. PenCom in a statement
Foreign legal counsel who successfully represented Nigeria in the P&ID case have offered crucial advice to the federal government on safeguards to consider before awarding high-value contracts in the future. The recommendation focuses on strengthening procurement processes and conducting thorough
The Central Bank of Nigeria (CBN) say its attention has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution. The CBN in a statement categorically reassure the public, depositors, and stakeholders
The Office of the Accountant General of the Federation (OAGF) say it will work within its mandate to promote compliance with government guidelines and circulars on execution and payment for constituency projects. Accountant General of the Federation (AGF), Mr Babatunde
The National Insurance Commission (NAICOM) has officially launched the Revised Regulation on Insurance for Leased and Financed Aircrafts, a development that is set to strengthen Nigeria’s aviation and insurance industries, enhance investor confidence, and promote ease of doing business in the country. The unveiling
I look forward to this year’s Spring Meetings of the International Monetary Fund (IMF) and World Bank, and meeting with counterparts as we discuss critical issues facing the global economy and the important role of these institutions. In the United States, we
The National Pension Commission (PenCom) has stated that newspaper organisations are owing over ₦1.3 billion in unpaid pension contributions for journalists. Director General of PenCom, Ms. Omolola Oloworaran, who made the disclosure when she led a delegation to the Nigerian
The Central Bank of Nigeria has announced a significant review of the documentation requirements for transactions conducted through the Pan-African Payment & Settlement System (PAPSS) in Nigeria. This initiative is part of the bank’s ongoing commitment to foster seamless intra-African
The Nigeria Deposit Insurance Corporation (NDIC) has declared the first tranche of liquidation dividends totaling ₦46.6 billion from the proceeds of sales of the defunct Heritage Bank’s assets and recovery of debts owed to the defunct institution. This was confirmed
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