NSIB Commences Probe On B737-400 Cargo Aircraft At Abuja Airport

 

Mohammed Shosanya

 

 

The Nigerian Safety Investigation Bureau (NSIB) has begun an investigation into the runway excursion involving a Boeing 737-400 (Cargo) aircraft with registration and nationality marks 5N-JRT, operated by Allied Air on Wednesday in Abuja.

 

 

 

 

 

The incident occurred at 10:06 AM local time  at the Nnamdi Azikiwe International Airport, Abuja.

 

 

 

 

The aircraft, operating as flight AJK206 from Murtala Mohammed International Airport, Lagos, skidded off the right side of Runway 22 into the grass verge after landing.

 

 

 

 

No fatalities or injuries to the crew or ground personnel have been reported. The aircraft sustained significant damage.

 

 

 

 

 

Emergency response teams were promptly deployed to the scene to ensure the safety of all personnel and secure the site.

 

 

 

 

The NSIB,in a statement said,it has initiated an investigation to determine the causal and contributory factors that led to this incident.

 

 

 

 

The agency said its Go Team has been dispatched to the site to conduct an on-site assessment, recover relevant data, and interview involved parties.

 

 

 

 

According to Mrs Bimbo Olawumi Oladeji, Director, Public Affairs and Family Assistance, NSIB, the investigation will help to identify probable causes and advocate for safety improvements based on findings.

 

 

 

 

“Our aim is to identify probable causes and advocate for safety improvements based on our findings.For further enquiries or media requests, please contact NSIB through info@nsib.gov.ng and NSIB_Nigeria on its social media platforms. The Bureau can also be reached on its emergency line +234-807-709-0909.”

 

 

We Didn’t Halt Gas Supply To GENCOs-NMDPRA

 

Mohammed Shosanya

 

 

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied claims that it directed a halt to gas supply for power generating companies (GENCOs).

 

 

 

 

It clarified  that no such directive was issued during a recent stakeholder engagement in Lagos.

 

 

 

 

According to NMDPRA,the meeting which was held recently aimed to discuss the implementation of the wholesale supply license under the Petroleum Industry Act.

 

 

 

 

It reassured stakeholders that efforts are ongoing to ensure uninterrupted gas supply, especially as the festive season approaches.

 

 

 

 

 

The statement said:”The attention of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has been drawn to a news publication with a spurious claim that the Authority has directed that Gas Supply to power generating companies (GENCOs) be halted and instructed wholesale gas suppliers to stop further supply of gas to companies due to failure in payment obligations.

 

 

 

 

“The NMDPRA wishes to state categorically that this report is false and completely unfounded. It has absolutely no bearing on the information shared at a recent stakeholders’ engagement held in Lagos between the Authority, the OPTS, IPPG and other stakeholders in the oil and gas industry.

 

 

 

 

“The purpose of the engagement was to sensitize stakeholders on the requirements, opportunities and benefits associated with the implementation of the wholesale supply license as provided by sections 142 and 197 of the Petroleum Industry Act (PIA) 2021.

 

 

 

“It was a follow up to an earlier stakeholder engagement held at the NMDPRA corporate headquarters in Abuja on November 27, 2024.

 

 

 

 

 

“The Authority wishes to reassure all our stakeholders and indeed the general public that at no time was the false statement made at that event and anywhere else, and are advised to completely disregard the publication as every effort is being made to ensure that the supply and distribution of natural gas and petroleum products to end users is seamless and unabated as we head into the festive season and indeed all through the coming year 2025”.

 

 

Delayed Refunds:FG Threatens To Sanction Airlines 

 

Mohammed Shosanya

 

 

 

 

The Nigerian Civil Aviation Authority has issued warning erring airline operators who fail to pay refunds within it’s stipulated time frame threatening to sanction them immediately.

 

 

 

 

The Director, Public Affairs and Consumer Protection, NCAA, Michael Achimugu,disclosed this in a statement.

 

 

 

 

 

He recalled that part 19 of the NCAA regulations are very clear with regards to timeframes for ticket refunds.

 

 

 

 

 

 

He said:”Cash purchases must be refunded immediately, and by cash.Tickets purchased by electronic transfer, mobile apps, internet banking, etc must be refunded within 14 days. @flyairpeace, the NCAA expects an immediate refund to this pax as 14 days have long elapsed”.

 

 

 

 

According to him,airlines that fail to pay refunds within the time frame stipulated by the NCAA Regulations 2023 will be
sanctioned.

 

 

 

 

“This is not hot air.The Consumer Protection Department of the NCAA has done a lot to sensitive passengers and protect the business of operators. The time has come for airlines to repay the good faith and support they have gotten from the regulator.

 

 

 

 

“Our CPOs have received instructions not to chase down airlines to comply with the regulations. Every case of non-compliance will be met with adequate sanctions.

 

 

 

 

“Not a single airline will say that they have not been given a listening ear. The Authority has been balanced.”

 

 

 

 

 

On airpeace, he said; “Apologies to passengers whose refunds have taken longer than necessary. It is not ideal. Personally, I am pursuing a review of the regulations to cut the timeframe to 7 days. It is doable. Nigerian passengers deserve world-class service.

 

 

 

 

 

“The Honourable Minister of Aviation and Aerospace Development, @fkeyamo and the Ag. DGCA, Capt. Chris Najomo has been very supportive of operators, especially domestic airlines. This is well-captured in the Minister’s 5-point agenda and Capt. Najomo’s 2024 Action Plan (ease of doing business).

 

 

 

 

 

“I have spent an entire year engaging airlines, listening to their challenges, and partnering with them to give passengers a better travel experience. Most airlines have been responsive. The relationship between operators and regulator has worked better than in the past and this is good for passengers.”

 

 

 

 

 

Achimugu argued that this fact was affirmed by the leadership of Airline Operators of Nigeria, AON, in their recent calls for the confirmation of Capt. Najomo as DGCA.

 

 

 

 

 

“It is imperative therefore, that airlines do right, if not by these two incredible public servants, then by the passengers who patronize their businesses.

 

 

 

 

 

”The challenges faced by airlines are manifold. Not nearly all delays and cancellations are their fault, but they have shouldered the blame.

 

 

 

‘I have spoken in support of operators because, given the peculiar environment, they are doing a lot and must be supported.

 

 

 

“My department’s intervention has seen airlines pay full refunds, 25% rebates, and even 50% rebates.But there are areas where they ought to do much better, and paying refunds within the stipulated tineframe is one of the low hanging fruits.

 

 

 

 

 

“Passengers may not always understand the back-end of things, but where it is determined that they are due a refund, it should be done seamlessly.Failure to comply with Part 19 will, henceforth, attract immediate sanctions,” he stated.

 

 

 

Access Bank Establishes Operations In Malta

 

Mohammed Shosanya

 

Access Holdings Plc has announced that its banking group’s, subsidiary, The Access Bank UK Limited (“the Access UK”) has established its first fully owned subsidiary in Malta, The Access Bank Malta Limited.

 

 

 

 

The banking licence application has been approved by both the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA), signalling a significant step in enhancing trade connectivity between Europe and Africa,a statement said.

 

 

 

The approval of The Access Bank Malta Limited as a credit institution marks a transformative milestone in bolstering Europe-Africa trade flows. Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.

 

 

 

 

According to the statement,this strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa.

 

 

 

 

It underscores the Access Group’s commitment to driving global trade, financial integration, and supporting businesses across these regions.

 

 

 

Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, and CEO of the Banking Group, said:”By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World. It further enhances our Bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities.”

 

 

Jamie Simmonds, Founding Chief Executive Officer and Managing Director of The Access Bank UK Limited, commented:

 

 

“Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA). With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets.”

 

 

 

Renald Theuma, Managing Director and Chief Executive Officer of The Access Bank Malta Limited, emphasised the significance of this expansion:

 

 

 

“Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”

 

Information Minister Idris Chairs IPI Nigeria Confab

      Mohammed Shosanya

 

 

 

Nigeria’s Minister of Information and National Orientation, Mohammed Idris,will chair the 2024 conference of the Nigerian chapter of the International Press Institute, scheduled to hold on Wednesday in Abuja, organisers said.

 

 

 

 

This was disclosed in a statement  by Ahmed I. Shekarau,the Secretary of IPI Nigeria.

 

 

 

 

The statement further revealed the list of distinguished guests who have confirmed their attendance of the conference.They include the National Security Adviser (NSA), Nuhu Ribadu; former Ogun State Governor, Olusegun Osoba; Publisher, Vanguard Newspaper, Sam Amuka Pemu; President, Newspaper Proprietors Association of Nigeria (NPAN), Kabiru A. Yusuf, the Special Adviser to the President on Information and Strategy, Bayo Onanuga; and Director General, National Orientation Agency (NOA), Lanre Issa-Onilu

 

 

 

 

 

Other guests expected at the IPI Nigeria Conference include the Africa Director, MacArthur Foundation, Kole Shettima; Country Director, CARE, Hussaini Abdu; Founder, ThisDay/Arise, Nduka Obaigbena; former Minister of Information & Culture, Lai Mohammed; Dean, Postgraduate School, Baze University, Prof. Abiodun Adeniyi and Chairman of the Editorial Board of ThisDay  Newspaper, Olusegun Adeniyi.

 

 

 

 

The statement reiterated that the IPI Nigeria Conference will be held on Wednesday, 11th December at the Abuja Continental Hotel (formerly Sheraton Hotel). Even more, the Institute is scheduled to hold its annual general meeting, to elect new leadership and host its members and supporters to a dinner on 12th December at the same venue.

 

 

 

 

An earlier statement by Mr. Shekarau had revealed that renowned media practitioner, Professor Tonnie  Iredia would deliver a keynote on “Democracy, Media Freedom and the Imperative of Protecting Nigeria’s Civic Space”, at the event.

 

 

 

 

 

A panel of seasoned journalists has also been lined up to discuss the paper. Busola Ajibola, a press freedom advocate and deputy director at the Centre for Journalism Innovation and Development, will moderate the discussion, which will feature Waziri Adio (founder and executive director at Agora Policy), Garba Shehu (director at Peoples Daily newspaper and former presidential spokesperson, and Abigail Ogwezzy-Ndisika (a professor of mass communication at the University of Lagos).

 

 

 

 

Adeola Oluwatosin Ajayi, the director-general of the State Security Service, will also make a presentation titled “Dissecting the Frosty Relationship Between the Nigerian Media and Security Agencies”. The Force Public Relations Officer, Muyiwa Adejobi; Funke Egbemode, a former President of the Nigerian Guild of Editors; Hussaini Abdu, country director of CARE; and Lanre Arogundade, director of the International Press Centre, will discuss his presentation.

 

 

 

 

Mr. Shekarau said the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, will make a short remark on “How the Media and Journalists can Partner Anti-corruption Agencies in the Fight Against Corruption”.

 

 

 

In the same vein, a former Minister of Information and Culture, Lai Mohammed, will also speak on “Government Vs Media: How to Reduce Tension, Enhance Mutual Understanding, and Avoid Censorship”.

 

 

 

 

“Owners of leading media organisations in Nigeria, media practitioners, federal lawmakers, heads of security agencies, academics, press freedom and journalists’ safety advocates, and other experts have been invited to participate as we deliberate on the challenges threatening the practice of journalism in the country”, Mr. Shekarau said.

 

 

 

 

“The conference will provide journalists with an opportunity to find answers to some of the knotty issues they desperately want answers to.”

 

 

 

The conference will be followed by an annual general meeting on 12th December, 2024, at which the Musikilu Mojeed-led IPI Nigeria executive will render accounts to members and elect a new executive to run the organisation’s affairs, Shekarau said.

 

 

 

 

The International Press Institute (IPI), with headquarters in Vienna, Austria, is a global network of media executives, editors, and leading journalists. Since its establishment in 1950, it has consistently advocated for journalists’ rights and media freedom worldwide.

 

 

 

 

IPI Nigeria is the Nigerian branch of IPI Global and is totally committed to credible and independent journalism, media freedom, freedom of speech and the free flow of news and information in Africa’s most populous country and the continent’s biggest economy.

 

 

Oyo Civil Service Commission Begins Interview For Applicants Tomorrow

 

Mohammed Shosanya

 

The Oyo State Civil Service Commission has announced the dates for the commencement of interview for the recruitment of officers into the various cadres in the Civil Service of Oyo State.

 

 

 

 

According to a statement by the Commission’s Chairman, Alhaji Kamoru Abiodun Aderibigbe, in Ibadan, the interview will commence with the Education Officers’ cadre on Wednesday, 11th and Thursday 12th December, 2024, while other cadres will be held from Monday 16th to Friday 20th December, 2024.

 

 

 

 

He said all applicants should check the Oyo State’s job portal and their pages from Monday, 9th December.

 

 

 

 

The release added that all the invited applicants should appear on the dates for their interview schedule with their score sheets as well as their invites.

 

 

 

 

The Chairman warned that any applicant who misses his/her scheduled date may forfeit such, saying “they will not be attended to at any other dates apart from the dates of their interview.”

 

 

 

CSR:Access Bank Supports Primary Healthcare Centres In Eti-Osa Council

 

Mohammed Shosanya

 

 

Access Bank Plc, has partnered five primary healthcare centres (PHCs) in the Eti-Osa East Local Council Development Area (LCDA) to improve access to quality healthcare for residents.

 

 

 

 

 

The initiative was launched after assessments and interactions with each of the five PHCs, where significant gaps in medical supplies and equipment essential for effective healthcare delivery were identified.

 

 

 

 

To address these pressing needs,the employees provided essential medical equipment, conducted wellness symposiums, and delivered financial literacy education to medical personnel.

 

 

 

 

Speaking on the drive behind the initiative, the Group Head, Digital and Centralised Operations Group at Access Bank Plc, Oluseyi Adenmosun, who was represented by his deputy, Lynda Ifeanyi-Anyanwu, expressed the bank’s dedication to community welfare.

 

 

 

 

“At Access, we believe in building stronger communities through initiatives that go beyond the scope of the traditional banking activities we are widely known for. Leveraging the collective strength of our employees through mediums like the employee volunteering program, we can touch lives and directly impact critical areas like healthcare. By equipping these primary healthcare centres and educating the staff on financial management, we hope to not only improve immediate healthcare delivery but also empower these communities for the long term.”

 

 

 

 

As part of the initiative, the wellness symposium aimed at enhancing healthcare practices in the community while providing valuable information on preventive care and holistic health approaches.

 

 

 

 

 

Besides,the financial literacy sessions empowered the healthcare workers with practical techniques to better manage resources.

 

 

 

Dr. Oyebanji Elegushi, the Medical Officer of Health Eti-Osa East LCDA, expressed gratitude on behalf of the community.

 

 

 

“This partnership with Access Bank is a welcome relief for our healthcare facilities. The new medical equipment and the knowledge shared by Access Bank staff will make a lasting difference. We are now better equipped to treat more patients and promote healthier lifestyles within our communities”,he said.

 

 

 

 

Also present at the event were representatives of the Lagos State Government and the Health Commission in the persons of the Permanent Secretary District 3, Dr. Mosurat Adeleke; Director Medical Sciences District 3, Dr. Adenike Oguntuase; and the Executive Chairman Eti-Osa East LCDA, Hon. John Campus Ogindare.

 

 

 

 

Access Bank has continued to lead the way in sustainable practices in Africa, and this has earned the financial institution notable local and global accolades including “Best Bank for ESG” at the 2024 Euromoney Awards; “Most Sustainable Bank (Nigeria)” by the World Economic Magazine; “Sustainable Bank of the Year, Africa” at the 2024 Pan-Finance Awards; “Most Sustainable Bank of The Year” at the 2024 International Investors Awards; “Most Innovative SME Financing Program for Women Empowerment” by the International Finance Corporation, amongst others.

 

 

 

Why Our Customers Must Pay Higher Electricity Tariff-Aba Power

 

Mohammed Shosanya

 

 

Aba Power Limited Electric(APLE),Tuesday commenced moves for an upward review of tariff in its franchise areas with the Nigerian Electricity Regulatory Commission (NERC).

 

 

 

 

The company maintained that rising generation costs and economic factors necessitate this adjustment to maintain service quality and infrastructure investment.

 

 

 

 

 

Speaking at the NERC hearing for the application for extraordinary tariff review in Abuja on Tuesday,the Managing Director, Aba Power, Ugo Opiegbe,said the current tariff is no longer sustainable and is affecting its ability to provide efficient and reliable electricity supply to its customers.

 

 

 

 

According to him,the company is proposing tariff increase from N223.12/kWh in 2024 to N263.08/kWh in 2025 for band A-Non MD, 240.09/kWh in 2024 to N283.09/kWh in 2025 for band A-MD1, N245.20 in 2024 to N289.11 in 2025 for A-MD2.

 

 

 

 

The company proposed N213.74/kWh in 2024 to N252.03/kWh in 2025 for band B-Non MD, N233.13/kWh in 2024 to N274.89/kWh in 2025 for B-MD1, N237.71/kWh in 2024 to N280.29/kWh in 2025 for B-MD2,he added.

 

 

 

 

He said,for C-Non MD the company proposed N183.59/kWh in 2024 to N216.47/kWh in 2025, C-MD1 N207.06/kWh in 2024 to N244.15/kWh in 2025 and N208.89/kWh in 2024 to N246.31/kWh in 2025 for C-MD2.

 

 

 

 

He also said,N148.14/kWh in 2024 to N174.67/kWh in 2025 for D-Non MD, N163.46/kWh in 2024 to N192.74/kWh in 2025 for D-MD1 and N148.14/kWh in 2024 to N174.67/kWh in 2025 for E-Non MD, N163.46/kWh in 2024 to N192.74/kWh in 2025 for E-MD1 and E-MD2 respectively.

 

 

 

 

 

He maintained that the cost of generating and distributing electricity has increased significantly,due to the recent changes in macroeconomics parameters in the country.

 

 

 

 

 

According to him,a review of the tariff would enable it to recover its costs and invest in improving the electricity infrastructure, which would ultimately benefit consumers.

 

 

 

 

 

He also said the unforeseen changes in macroeconomic parameters such as increasing generation cost and investment without commensurate return is the reason for the rate review.

 

 

 

 

He added:“The need to incorporate changes in macroeconomic parameters and indices which affect the quality of service, operations and sustainability of our company business.

 

 

 

 

“Niger Delta Power Holding Company (NDPHC) increased invoices for its wholesale energy cost to APLE from the NERC approved Power Purchase Agreement (PPA) contract price of N21kwh to N136.26/kWh.

 

 

 

 

 

“The cost of generation from the Geometric Power Aba Limited (GPAL) plant is N133.2/kWh. The cost has continuously increased, making it practically impossible for us to sustain impact. It’s so difficult for us because the wholesale price is even higher than our highest retail price.“That’s where we have found ourselves. That’s the major reason why we are here,” Mr Opiegbe said.

 

 

 

Also speaking,the NERC Vice Chairman, Musiliu Oseni, reiterated the commission’s commitment to balancing the interests of consumers and service providers.

 

 

 

He added:“The commission would look  critically at the parameters set by the company to arrive at the cost it proposed to ensure that customers benefit from it. So when your customers are happy, they will be willing to pay more to you,so that you can also improve on your operational performance. I think that aspect, we need to look at it critically.

 

 

 

 

“It’s quite good that you already concluded the process. Before we allow your cost to be passed on to the end user, we will have to look at it and see whether problems it might cause or otherwise. This hearing is part of our effort to ensure that any tariff review is fair and reflects the realities on the ground. We will carefully review the submissions made here today before making a final decision”.

 

 

 

 

 

Presidential CNG Initiative,NDDC Sign Pact On Implementation

      Mohammed Shosanya

 

The Presidential Compressed Natural Gas Initiative,PCNGI,and the Niger Delta Development Commission, NDDC, have signed a Memorandum of Understanding, MoU, to facilitate the implementation of the CNG policy in the Niger Delta region.

 

 

 

 

 

The NDDC Managing Director,Dr Samuel Ogbuku,who spoke during a courtesy visit by a delegation from the PCNGI, led by the Programme Director, Engr. Michael Oluwagbemi, at the NDDC headquarters in Port Harcourt, stated that the CNG initiative was critical for the country.

 

 

 

 

He observed that the Presidential CNG Initiative was a component of President Bola Ahmed Tinubu’s administration’s intervention, which was directed at providing succour to Nigerians following the harsh effects of the fuel subsidy removal policy.

 

 

 

 

The NDDC Chief Executive Officer,in a statement by Seledi Thompson-Wakama, noted that implementing the CNG policy would create jobs and local technology transfers for youths and women by supporting auto manufacturing, retrofitting, conversions, and developing critical gas distribution, processing, and production infrastructure and facilities.

 

 

 

 

Speaking at the opening of a CNG conversion and training centre at Rumuokwuta community in Port Harcourt, Ogbuku said that the NDDC considered the CNG initiative a Presidential directive that deserved utmost attention.

 

 

 

 

 

He stated: “This groundbreaking event, the first of its kind in the Niger Delta region, is part of the efforts to set up training centres in all parts of the country.

 

 

 

 

 

“The more we train our youths in energy conversion facilities, the more youths we train to make them gainfully employed and financially independent. We want to make the Niger Delta the hub of CNG technicians in the country.”

 

 

 

 

 

He said that the Commission was making efforts to set up training facilities to train youths on the conversion to CNG in the Niger Delta region, noting that with the energy transition in the country, Niger Deltans would be allowed to take advantage of the transition to gas.

 

 

 

 

Also speaking at the facility operated by Lapomik Energies,the PCNGI Programme Director, Engr. Michael Oluwagbemi, highlighted the gains from embracing CNG, noting that the initiative would stimulate investments in Nigeria’s abundant gas market and develop sustainable gas markets locally while growing the economy and expanding the government’s revenue base.

 

 

 

 

He emphasized the need for collaboration with relevant stakeholders to train technicians and enhance local capabilities in CNG conversion.

 

 

 

 

Oluwagbemi said the Presidential Initiative on CNG fully manifested President Bola Ahmed Tinubu’s vision of leveraging Nigeria’s gas resources. He stated that Rivers State was the home of natural gas.

 

 

 

He added:“The key objective is to drive down and manage transportation costs for Nigerians by utilizing the cheaper gas alternative that is abundant but currently underutilised in Nigeria.

 

 

 

 

“Our pilot phase started with training 1,000 auto technicians, engineers, and support staff. By the end of 2024, we aim to have trained 2,500 individuals, and by 2027, our goal is to reach 10,000 trained professionals.

 

 

 

 

The traditional ruler of Rumuokuta, Eze Michael Chinda, thanked the firm operating the conversion and training centre in his domain for bringing development to his community. He observed that his community was friendly and peace-loving.

 

 

 

 

The monarch implored the NDDC to assist the community in completing their civic centre and thanked the Commission for providing solar street lights in the area.

 

 

Nigeria’s Pension Assets Hit N4.26tn- PenCom

 

      Mohammed Shosanya

 

 

 

Nigeria’s contributory pension assets rose by N4.26tn between October 2023 and October 2024,the National Pension Commission has said

 

 

 

 

The current figure indicates a 24.14 per cent rise,the Commission said in its monthly report,adding that the value of the pension assets stood at N21.92tn, compared to N17.66tn at the end of the same period in 2023.

 

 

 

 

According to the report,the dynamics of the asset mix for pension assets under management remaind relatively unchanged, with the majority of pension assets concentrated in government securities.

 

 

 

 

Investment of pension funds in Federal Government securities rose from N11.42tn to N13.57tn in the period in view,while funds invested in corporate debt securities also rose to N2.29tn, that of money market instruments stood at N2.20tn and mutual funds was N106.85bn from N112.52bn, reflecting a 5.04 per cent decline.

 

 

 

 

The report added that in the last one year,the number of retirement savings accounts grew by 394,679 to 10,535,608.

 

 

 

 

It said on a month-on-month basis, the pension assets grew by N541bn to N21. 92tn from N21.38tn in September.