By Favour Nnabugwu

National Insurance Commission (NAICOM) may still have a long way to go in enforcing the six compulsory insurance policies particularly on public liability as vehicle owners affected in the recent bomb blast at the Police Force Headquarters will not get compensation.

Insurance companies are not liable to pay compensation to affected vehicle [...]

Fewer Americans purchased previously occupied homes in May, lowering sales to their weakest point of the year.
Home sales sank 3.8 percent last month to a seasonally adjusted annual rate of 4.81 million homes, the National Association of Realtors said. Economists say that’s far below the 6 million homes per year sold in healthy housing markets.

Prof. Francis Ojaide was inaugurated the 47th President of the Institute of Chartered Accountants of Nigeria, ICAN, two weeks after about a decade and half as Council member of the organisation. In this interview with our Abuja Bureau Chief, Emma Ujah, the new ICAN boss said that corruption I driven by ignorance of the true essence of life and must be brought down for the Nigerian society to progress. He also urged the Jonathan administration to give priority to electricity power supply and an efficient transport system. The Fellow of ICAN equally outlined some of his areas of focus as ICAN President in the next one year.

The value of investment on the Nigerian Stock Exchange, NSE, dipped last week by N12.01 billion as the indices for measuring the performance of listed equities, the market capitalisation and all-share index both dipped by 0.15 per cent each.

Shareholders of Conoil Plc have commended its Board of Directors and management for the improved performance attained for the financial account ended December 31, 2010.

The Managing Director of Starcomms Plc, Maher Qubain has reasserted his position that consolidation in the CDMA segment of the telecommunications market and a fair playing ground for all networks are vital considerations in the effort for proper development of the telecoms market in the country.

ABUJA- As part of moves to increase the potential growth of the country, the World Bank disclosed weekendthat plans have been concluded to inject $4.185 million in the Nigeria Fadama project.

Investors’ appetite for Federal Government of Nigeria’s, FGN Bonds increased last week, with a significant improvement recorded in trading in the Over-the-Counter, OTC, Bond market, as investors staked N141.688 billion on 157.68 million units of bonds in 1,064 transactions.

A robust and vibrant insurance industry is essential for the development of the housing sector in the country which is currently being hampered by paucity of funds.