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Fair valuation of bank loans will increase volatility of shareholders’ interest, Fitch

Fair valuation of bank loans will increase volatility of shareholders’ interest, Fitch

The new requirement by financial regulators across the globe as a result of the impact of the global financial crisis on economies is generating heated debate and controversies. Specifically the requirement that bank loans be measured on the balance sheet at fair value is said to be a profound change that will affect the balance sheet of banks and financial institution if adopted.

Custodian & Allied records N2.02bn profit

Custodian & Allied records N2.02bn profit

Custodian and Allied Insurance Plc recorded a gross profit of N2.02 billion for the year ended 31st December, 2009. The company’s gross premium increased by 29 per cent from N4.1billion in December, 2008 to N5.3billion in 2009.

China’s investment in Nigeria  hits $7.24bn mark ,Consul General

China’s investment in Nigeria hits $7.24bn mark ,Consul General

Mr Guo Kun, the Consul General, Consulate of the Peoples Republic of China, says China has invested $7.24 billion (more than N1 trillion) in Nigeria. Kun disclosed in Lagos that some of the investments went into the Lekki Free Trade Zone. Besides, he said that the investment had helped to create more than 30, 000 jobs for Nigerians.

How AD governors dug their graves, by Pa Fasoranti

How AD governors dug their graves, by Pa Fasoranti

CHIEF Reuben Fasoranti was a former Commissioner for Finance under the administration of the late sage Chief Adekunle Ajasin and now an acting Chairman of the Yoruba socio-political organisation, Afenifere, following the death of its leader the late Abraham Adesanya.