Morning Beats

Customs collects over N104b in four months

The Nigeria Customs Service (NCS) made over N104 billion in four months and seized two containers of fake drugs at Lagos port, it was learnt.The Nation

CBN injects $210m into forex market

The Central Bank of Nigeria (CBN) yesterday boosted the inter-bank Foreign Exchange market with another sum of $210 million.The Nation

GIABA gets new Director-General

The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has appointed Kimelabalou Aba, a Togolese as its Director-General.The Nation

PTAD pays N18.9b to verified pensioners

The Pension Transitional Arrangement Directorate (PTAD) paid N18.99 billion to verified pensioners between January and March, its Executive Secretary, Sharon Ikeazor has said.The Nation

CBN: banks must repay excess charges with interest

Banks deducting monies illegally from their  customers’ accounts for products and services, will be made to refund such monies with interest,The Nation

Coronation: Poorly capitalised banks ‘ll be left behind

The competition in the banking sector will be so fierce this year that lenders with low capital base will be hard pressed and not be able to issue new loans.The Nation

‘Women to earn less in pension scheme’

WOMEN stand to earn 37 per cent less in pension income due to pay gaps and shorter careers, a report from the European Commission has shown.The Nation

Stock gains lift pension funding

THE health of U.S. state pension systems improved for the first time since 2014 because of global stock-market gains, according to Wilshire Consulting.The Nation

Our challenges, by PenOp chief

The Contributory Pension Scheme (CPS) is being challenged by low adoption of self-help platforms, Pension Fund Operators Association of Nigeria (PenOp) President, Mrs Aderonke Adedeji has saidThe Nation

NIRSAL, insurance firms to support 16,954 farmers

The Nigerian Incentive Based Risk Sharing Sys-tem for Agricultural Lending (NIRSAL) and insurance firms are partnering to support 16,954 smallholder farmers, NIRSAL’s  Managing Director, Aliyu Mohommed, has said.The Nation

CBN to cut interest rate before year-end

The Monetary Policy Committee of the Central Bank of Nigeria is expected to cut the Monetary Policy Rate, also known as the benchmark interest rate, before the end of the year.Punch

23 states yet to fully comply with CPS – PenCom

Twenty-three states have yet to fully comply with the Contributory Pension Scheme established by the Pension Reform Act of 2004.Punch

Nigeria, others require $1.2tn annual investment, says AfDB

Countries in Africa, including Nigeria, require an investment of about $1.2tn annually in order to achieve the continent’s economic development targets, the African Development Bank has said.Punch

IMF warns Nigeria, other African peers of rising debts

Sub-Saharan African nations are at growing risk of debt distress because of heavy borrowing and gaping deficits, despite an overall uptick in economic growth, the International Monetary Fund said on Tuesday.Punch

‘NNPC filling stations now hold 14% retail business’

The Nigerian National Petroleum Corporation on Tuesday said its downstream subsidiary, the NNPC Retail Limited, now held 14 per cent of the market share of petroleum products retail business in the country.Punch

Nigeria Issuing 70 Million IDs to Boost Financial Access

Nigeria plans to issue identity numbers to 70 million citizens by the end of next year, a first step to bringing them into the country’s payments system.Bloomberg