LEADING player in critical power and cooling services, APC by Schneider Electric has announced the release of the Back-UPS RS 500 battery backup.

Nigeria has spent a total of N 1.8 trillion to subsidised petroleum products in the last four years which the federal government has said is not sustainable. The minister of state for Finance Mr Remi Babalola made this known at the 2010 edition of the Oba Oladele Olashore Annual Lecture held at the Obafemi Awolowo University , Ile-Ife, Osun State at the weekend .

Stabilizing financial markets have helped buyers of trade credit insurance, as political risk underwriters are pulling back slightly on rates they hiked last year during the global financial crisis, insurers and brokers say.

Over-regulations in the insurance industry and regulations which overlap other sectors’ laws have all created barriers to the development and growth of micro-insurance in the country, according to Prof Joe Irukwu, Insurance Law Review Committee Chairman.

The National Insurance Commission, NAICOM, has approved the appointment of Mr. Emmanuel Obinna Madu, as the new managing director and chief executive officer for ADIC Insurance Limited.

In its continuing efforts to properly position insurance practitioners for efficient and effective delivery of insurance products and services in the country, the Chartered Insurance Institute of Nigeria (CIIN) will next week organize a special Mandatory Continuing Professional Development (MCPD) programme tagged “Business Outlook for 2010.”

Union Assurance Insurance Company has reported a 36 percent increase in its gross premium income for 2008 at N2.72billion against N2billion written in 2007. Also net premium rose 28percent at N1.88billion from the previous record of N1.47billion.

THE standoff between the management of the Benue Cement Company Plc BCC, Gboko and the officials of the Benue State Board of Internal Revenue Service over a N190million tax evasion by BCC has been resolve while the factory that was shot down has reopened for production.

Citibank Nigeria Limited in conjunction with EuroFinance have announced their resolve to tackle key economic issues affecting the growth and development of the West African region.

Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Akinsola Akinfemiwa, has been conferred with the University of Nigeria Alumni Association’s (UNAA) ‘Life time Achievement Award’, The award, according to a statement by Skye Bank, is in recognition of his contributions to the growth of the institution and educational development in Nigeria.