The Central Bank of Nigeria (CBN) last week deducted from banks N111 billion as contributions to the Sinking Fund of the Asset Management Corporation of Nigeria (AMCON). Known as the Resolution Cost Fund, the sinking fund was set up to assist AMCON to meet its goals and also ensure that […]

The Monetary Policy Committee (MPC) met on 19th and 20th May, 2014 against the backdrop of continuing modest recovery in the US economy, lingering fragile recovery in Europe, slowing output growth in the emerging market economies and possible risks to domestic price stability. In attendance were 9 members including Mr. […]

The National Pension Commission is working on a framework that will enable retirees under the Contributory Pension Scheme to enjoy a minimum monthly pension stipend like the minimum wage being enjoyed by workers, investigation has revealed. Sources at PenCom disclosed to our correspondent on Monday that since retirees started emerging […]