Echotitbits – Nigeria News

Category: Banking

  • PenCom flags low funding for personal pension plans, urges stronger contributions

    PenCom flags low funding for personal pension plans, urges stronger contributions

    2025-12-15 08:00:00

    According to The Punch, the National Pension Commission (PenCom) expressed concern that personal pension plan (PPP) accounts are poorly funded, citing low contribution levels relative to account openings.

    Punch reports the commission said the funding gap could weaken retirement outcomes and called for improved contributor discipline and broader pension awareness, especially for informal-sector participants.

    The report adds that stronger compliance and product design could help scale voluntary pension savings and reduce old-age financial vulnerability.

    Analysis/Echotitbits take: Voluntary pension uptake is a key lever for Nigeria’s informal economy, but sustainability depends on regular contributions and trust. Watch for PenCom’s enforcement stance, incentives for contributors, and partnerships that make micro-savings easier.

    Source: The Punch — December 9, 2025

    The Punch https://punchng.com/unfunded-personal-pension-plans-worry-pencom/ December 9, 2025

  • Champion Breweries opens ₦15.91bn rights issue to fund Bullet brand expansion push

    Champion Breweries opens ₦15.91bn rights issue to fund Bullet brand expansion push

    2025-12-15 08:00:00

    According to The Punch, Champion Breweries opened a ₦15.91bn rights issue to eligible shareholders as part of a wider capital-raising programme tied to acquisition and expansion plans.

    Punch reports the offer involves 994,221,766 ordinary shares priced at ₦16 per share, with proceeds expected to support the strategic acquisition of the Bullet brand and strengthen its growth agenda.

    The company’s fundraising plan, the report notes, also envisages a public offer to follow after the rights issue.

    Analysis/Echotitbits take: Rights issues can dilute or strengthen depending on execution and use of proceeds. Watch subscription levels, timelines for the Bullet acquisition close, and whether the subsequent public offer improves liquidity and free-float on NGX.

    Source: THISDAYLIVE — November 26, 2025

    THISDAYLIVE https://www.thisdaylive.com/2025/11/26/champion-breweries-commences-n15-91bn-rights-issue-to-strengthen-expansion-strategy/ November 26, 2025

  • Wema Bank sets ₦120m prize pool for Hackaholics 6.0 grand finale

    Wema Bank sets ₦120m prize pool for Hackaholics 6.0 grand finale

    Photo Credit: Wema Bank Logo – The Nation
    2025-12-14

    According to The Nation, Wema Bank has announced a ₦120 million prize pool for the Hackaholics 6.0 grand finale after regional pitches produced finalist teams, positioning the programme as a pipeline for youth-led innovation.

    The initiative is expected to bring finalists into a competitive showcase where ideas are assessed for product readiness and potential market impact.

    Vanguard also reported the ₦120 million prize pool and quoted Wema Bank leadership on the role of young innovators in shaping technology and nation-building.

    Leadership likewise reported the same prize pool and described it as funding support for finalists advancing to the finale.

    Analysis/Echotitbits take: Prize pools are attractive, but the real value is what happens after the finale—mentorship, pilots, distribution and investor access. Watch for the winning solutions, whether they get real-world deployment opportunities, and whether Wema publishes post-programme outcomes that show scaling beyond the event.

    Source: The Nation — 14 Dec 2025 (https://thenationonlineng.net/wema-bank-unveils-n120m-prize-for-hackaholics-grand-finale/)

  • CBN gives payment firms 30 days to add dual channels for PoS transactions

    CBN gives payment firms 30 days to add dual channels for PoS transactions

    photo: CBN headquarters — Wikipedia

    According to The Punch, the Central Bank of Nigeria (CBN) has directed financial institutions, acquirers and payment service providers to implement mandatory dual connectivity for Point-of-Sale (PoS) transactions within one month to reduce failures and downtime.

    The directive, issued via a circular signed by the CBN’s Payments System Supervision leadership, is designed to ensure PoS transactions can automatically route through an alternative channel when one switch or aggregator fails.

    Daily Post also reported the same policy move, describing it as a 30‑day deadline aimed at stabilising PoS performance and reduce persistent transaction disruptions for merchants and consumers.

    Other industry reporting and commentary (including BusinessDay’s coverage shared on social platforms) echoed the policy intent: improve resilience, enforce reporting, and strengthen reliability testing across the payments ecosystem.

    Analysis/Echotitbits take: This is a quality-of-service crackdown, not just another circular. If enforcement is real, the biggest impact will be on downtime-driven “lost sales” for SMEs and on customer trust in cashless payments. Watch for compliance audits, penalties for repeated outages, and whether smaller aggregators can afford the redundancy costs without pushing fees higher for users.

    Source: The Punch — 12 Dec 2025 (https://punchng.com/cbn-sets-one-month-deadline-for-dual-pos-connectivity/)