23

Sep

Retirement: PenCom tasks employers on employees’ benefits

The National Pension Commission (PenCom) has urged employers to provide more benefits to their employees upon retirement. This is against the agitations by some employees and retirees in the public service to be exempted from the Contributory Pension Scheme (CPS), The Director-General, PenCom, Mrs. Aisha Dahir-Umar in a statement, said the pension contributions and Group Life policy, which the Pension […]

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23

Sep

Nigerian banks suspend naira card transactions abroad

Nigerian Banks have announced temporary suspension of overseas Automated Teller Machine (ATM) naira card transactions to preserve foreign exchange reserves. The CBN rate sheet showed the naira exchanges at N430/$1 at the Investors’ and Exporters (I&E) forex window while black market rate was at N710/$, creating N280/$ premium between both rates. Banks’ decision followed consistent dollar scarcity[…]

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22

Sep

First Bank completes acquisition of Access Pension Fund Custodian Limited

First Bank of Nigeria Holdings Plc has notified the Nigerian Exchange and the investing public that First Pension Custodian Nigeria Limited, a subsidiary of First Bank of Nigeria Limited has completed the acquisition of 100% of the share capital of Access Pension Fund Custodian Limited from Access Bank Plc, having obtained the requisite regulatory approvals. The transaction[…]

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