The Pension Transitional Arrangement Directorate (PTAD) has so far recovered N16 billion of legacy pension funds and assets in the last one year. This was affirmed by Mrs Sharon Ikeazor, the Executive Secretary who made the disclosure at the 2017 stakeholders’ forum of pensioners in Abuja.

The Asset Management Corporation of Nigeria (AMCON) has taken over Best Western Hotels in Ikeja and Victoria Island, Lagos over a N27 billion debts, following a court order. The order mandated AMCON to seal up and take over the management of the hotel belonging to embattled Ogun politician, Senator Buruji Kashamu, pending a resolution of the debt.

A total of 317.44 million shares valued at N2.85 billion were traded in 3,327 deals on the Nigerian Stock Exchange (NSE) on Thursday. This was in contrast to the 174.07 million shares worth N2.72 billion traded in 3,599 deals on Wednesday. The News Agency of Nigeria (NAN) reports that the market capitalisation, similarly, appreciated by 0.17 per cent to close at N12.314 trillion from N12.171 trillion recorded on Wednesday.

The National Bureau of Statistics (NBS) reports that between January and June 2017, air passenger traffic across the nation's four major airports dropped significantly due to the impact of inflation. According to NBS, the passenger traffic dropped from 3,489,317 as of the end of December 2016 to 3,033,182 in June 2017.

The World Bank has projected that Nigeria will record an inflow of $22 billion from foreign remittances in 2017, an increase from the $19 billion recorded in 2016. According to the Migration and Development Brief released by the bank on Tuesday, global remittance flow will recover in 2017 after two consecutive years of decline.

Nigerian oil production remains below 1.8 million barrels per day, in compliance with a quota set on the African nation by OPEC earlier this year in response to its explosive output growth through 2017. The Minister for Petroleum Resources, Emmanuel Ibe Kachikwu made the announcement at the Organization of Petroleum Exporting Countries’ headquarters in Vienna. The oil bloc has already agreed to extend output cuts through March 2018, although another extension may be in the works, oilPrice.com reports.

A Federal High Court in Lagos held that Nigeria Liquefied Natural Gas Ltd (NLNG) was right in refusing to pay levies demanded by the Nigerian Maritime Administration and Security Agency (NIMASA). The dispute between both parties arose as a result of perceived conflict in their respective enabling Acts – Nigeria LNG (Fiscal Incentives, Guarantees and Assurances) Act and Nigerian Maritime Administration and Safety Agency Act.

The meeting of the joint ministerial monitoring committee of OPEC and non-OPEC countries ended in Vienna, today with the endorsement of further exemption for Nigeria’s crude oil production until it stabilises. Nigeria’s Minister of State For Petroleum Resources, Dr Emmanuel Ibe Kachikwu, told the meeting that although the country’s production recovery efforts have made some appreciable progress since October last year, it is not yet out of the woods.

The Nigerian Communications Commission (NCC), said it was partnering with the Central Bank of Nigeria (CBN) to sensitise customers on mobile money banking fraudsters. Prof. Umar Danbatta, the Executive Vice Chairman of NCC made this known at the Consumer Conversation Forum held in Minna.

The Securities and Exchange Commission (SEC), the apex regulator of the Nigerian capital market, Tuesday, imposed a life ban on the Managing Director of Partnership Investment Company Plc and Partnership Securities Limited, Mr. Victor Ogiemwonyi, from holding directorship position in any public company in Nigeria for his unprofessional conduct in the capital market.