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Assets Of 882 Microfinance Banks Hit N1.35tn
According to a report by the Central Bank of Nigeria on ‘Microfinance Banks’ Account Assets’ quarterly, the total assets of Nigeria’s microfinance banks increased to N1.35 trillion by the end of September 2021. This is from N856.3 billion recorded in September 2020. Also, figures obtained from the CBN on ‘List of Licensed Microfinance Banks’ showed…
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NNPC Spends N1.53tn On JV Oil Assets
The Nigerian National Petroleum Corporation spent a total of N1.53tn on oil and gas assets. The asset is being developed through joint ventures with private firms as well as priority projects in 2020. NNPC represents the Federal Government in the JVs having an obligation to make cash call payment for the development of the assets.…
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Pension Assets Drops, Losses N52billion
The Contributory Pension Scheme has continued its downward trend lossing N52billion in February 2021. Figures obtained from the National Pension Commission on its report titled ‘unaudited report on pension funds industry portfolio for the period ended 28 February 2021’ revealed this. The report showed figures on Approved Existing Schemes, Closed Pension Fund Administrators and RSA…
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BoI Records N35.5bn Profit As Assets Hit N1.8tr
The Bank of Industry has recorded a profit after tax of N35.54 billion for the financial year ended December 31, 2020. Also, its total assets have hit a sum of N1.86 trillion in 2020 from N1.04trillion in 2019. The Managing Director of BoI, Mr Olukayode Pitan, in a statement said the performance demonstrates resilience and…
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Total Pension Assets Hit N12.3 Trillion In 2020
National Pension Commission has reported that the total pension assets under the Contributory Pension Scheme rose to N12.3tn in 2020. This is an N2.1 trillion increase when compared to 2019 which had N10.2tn. According to PenCom N8.13 trillion of the funds was invested in Federal Government of Nigeria Bonds, while N858.46 billion and N92.91billion were…