Author: Ogochukwu Ndubuisi

NLC Pushes for 50% Pension Withdrawal Rights The Nigerian Labour Congress (NLC) has called for an increase in the Retirement Savings Account (RSA) withdrawal limit, proposing to raise the threshold from 25 per cent to 50 per cent. NLC President, Comrade Joe Ajaero, made the demand during a roundtable discussion with the management of the National Pension Commission (PenCom) in Abuja on Thursday. The event had the theme, “Consolidating the Gains of the Contributory Pension Scheme through Collaboration with Social Partners.” Ajaero explained that the proposed increase would enable workers to meet critical financial needs such as investments in agriculture,…

Seplat Energy Records N3.4trn Revenue Growth in Nine Months Seplat Energy Plc, a Nigerian independent energy company, has reported a rise in its revenue to N3.356 trillion for the nine months ended Sept. 30, 2025. This is compared with N1.071 trillion recorded in the same period of 2024. The energy company, listed on the Nigerian Exchange Ltd. and the London Stock Exchange, disclosed this in a statement on Thursday. The company’s gross profit increased significantly to N1.356 trillion, compared with N531.5 billion posted in the corresponding period of 2024. Its cash generated from operations grew to N2.152 trillion from N633.8…

Nigerian Exchange Group to Pay Shareholders N1 as Interim Dividend The Nigerian Exchange Group Plc (NGX Group) has declared an interim dividend of N1.00 per ordinary share of 50 kobo each. This is following the approval of its unaudited financial statements for the third quarter ended Sept. 30, 2025. The NGX Group in a statement on Thursday, said that the decision was reached at the meeting of the company’s Board of Directors. The interim dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday, Nov. 7, 2025, while…

Regency Alliance Shareholders’ Fund Rises 19% to N13.97bn in 2024- Chairman Regency Alliance Insurance Plc has reported a 19.24 per cent growth in shareholders’ fund, which rose to N13.97 billion for the 2024 financial year, up from N11.72 billion in 2023. The Chairman of the company, Mr Clem Baiye, disclosed this in a statement on Friday, in Lagos. Baiye said the growth reflected the company’s solid financial position, prudent investment approach, and continued confidence of investors in its operations. He said that the company recorded a profit before tax of N2.50 billion, representing a 19.49 per cent increase over N2.10…

UN General Assembly Condemns U.S. Embargo on Cuba Again The UN General Assembly on Wednesday, for the 33rd consecutive year, adopted a resolution calling for an end to the decades-long United States embargo against Cuba. An overwhelming majority of the UN’s 193 Member States once again urged Washington to lift the measures – despite a noticeable shift in countries choosing to either abstain or side with the U.S. The resolution – titled Necessity of ending the economic, commercial and financial embargo imposed by the United States of America against Cuba – was adopted by 165 votes in favour, seven against,…

Stakeholders Seek Reversal of Privatisation in the Electricity Sector Stakeholders comprising trade unions and Civil Society Organisations (CSOs) have called for the urgent reversal of privatisation in the electricity sector and all existing privatisations in the water and waste sectors. The stakeholders also called for the suspension of ongoing or planned discussions with the World Bank and other International Financial Institutions (IFIs) on the privatisation of public assets. Their call is contained in a communiqué issued at the end of the National Public Utilities Summit and made available to newsmen on Thursday in Abuja. The summit, themed `Promoting Transparency and…

We’ve Recovered Over 90 Mining Sites From Illegal Miners – Alake The Minister of Solid Minerals, Mr Dele Alake, says no fewer than 90 mining sites have been recovered from illegal miners across the country. Alake made the disclosure in Akure on Thursday at the ongoing South-West stakeholders’ dialogue organised by Afenifere, the Pan-Yoruba social-cultural group; DAWN Commission, and South-West governors. The theme of the two-day summit is: “Strengthening Democracy Through Dialogue: Assessing Progress. Charting the Future.” He added that over 300 illegal miners had been arrested with 50 of them being prosecuted, stating that over 20 illegal miners had…

Alleged Breach: Court Strikes Out FCCPC Charge Against MTN Executives The Federal High Court in Abuja on Thursday, struck out the criminal charge filed by the Federal Competition and Consumer Protection Commission (FCCPC) against MTN Nigeria Communications Plc and its top officials. Justice Hauwa Yilwa struck out the suit, in a ruling, following an application for the withdrawal of the case by FCCPC’s lawyer, I. O. Aiaba. Earlier upon resumed hearing on Thursday, Aiaba told the court that a notice of withdrawal was filed on Sept. 8. The lawyer told the judge that the application was brought under Section 108…

Pension Assets Exceeds ₦25trn, Says PenCom DG The National Pension Commission (PenCom) says pension assets have grown to over ₦25 trillion, contributing significantly to national development through strategic investments. Ms Omolola Oloworaran, the Director-General of PenCom, said this on Thursday in Yola at a two-day sensitisation workshop on workings of Contributory Pension Scheme (CPS) for employees and pensioners in North-East. Oloworaran, represented by the Commissioner for Administration in PenCom, Alhaji Bello Abubakar, said the growth reflected improved transparency, governance, and accountability in pension administration. “Presently over 552,000 retirees currently receive regular monthly pensions, while 291,735 others have accessed lump-sum benefits…

Nigeria, Largest Aquaculture Producer in Sub-saharan Africa- Group WorldFish, an international non-governmental organisation, says Nigeria’s aquaculture sector produces about 500,000 metric tonnes of fish annually, making the country the largest aquaculture producer in sub-Saharan Africa. Dr Charles Iyangbe, Country Representative of WorldFish Nigeria, disclosed this at the 40th anniversary celebration of the Fisheries Society of Nigeria (FISON) in Keffi, Nasarawa. Iyangbe said the fisheries and aquaculture sector provides livelihoods for more than 10 million Nigerians. He noted that it was sobering that Nigeria’s fish demand is 3.6 to 3.9 million tonnes yearly, while local production is only 1.2 million tonnes.…