Royal Exchange Plch has paid out another whopping sum of N335 million as claims settlement to Shongai Packaging Limited, an Otta based manufacturing company.

Despite the challenging business environment’ AIICO Insurance Plc has continued to maintain consistent profitability and sustainable growth in 2009.

After the “costliest” half year since it began interim reporting, Lloyd’s has reported that its profit before tax has more than halved to £628m (June 2009 £1.32bn) while the combined ratio has risen to 98.7% (June 2009 (91.6%).

The Managing Director of Sovereign Trust Insurance Plc, Mr. Wale Onaolapo was recently honoured in Lagos by the Institute of Entrepreneurs, Nigeria.

In recognition of the important role of capacity building and man power development to service delivery, the National Council of Registered Insurance Brokers recently held a three day conference at Lisabi Seminar Center in Abeokuta, to improve and build management and staffs technical knowledge, skills and services delivery in the Industry.

The World Bank Group’s Board of Executive Directors has approved extending the life of the Bank’s Global Food Crisis Response Program (GFRP) to June 2011, amid concern over heightened food price volatility and its impact on poor countries.

There will only be stability in Nigeria’s business environment if corporate executives give adequate consideration to probity and transparency at their duty posts before taking decisions, said Christopher Kolade.

The management of the Nigerian Stock Exchange (NSE) is set to list by introduction, 100 million shares of Dangote Cement Plc at N135 per share. The shareholders of BCC will get one of Dangote Cement Plc’s shares in exchange for two of BCC’s shares.

Standard Chartered has won the “Best Global Bank in Africa” at this year’s African Banker Awards in Washington. The African Banker Awards are given to companies which have contributed significantly to the reform, modernisation and expansion of the continent’s banking and financial system, driving Africa’s sustained economic growth in the process.
Commenting on the latest win for Standard Chartered, Nigeria CEO, Christopher Knight said:

Standard Chartered has won the “Best Global Bank in Africa” at this year’s African Banker Awards in Washington. The African Banker Awards are given to companies which have contributed significantly to the reform, modernisation and expansion of the continent’s banking and financial system, driving Africa’s sustained economic growth in the process.

Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Kehinde Durosinmi-Etti, has pledged management’s continued support towards the funding of the key sectors of the economy as a way of promoting the growth of the economy and increasing national output.

THE Nigeria High Commissioner to Namibia, Ambassador Adegboyega Christopher Ariyo has said that if Nigeria as a country must assert its dignity in the African continent and the world in general, there was the urgent need for the attainment of economic independence.

The seismic data brokerage agreement between Nigeria and Sao Tome and Principe for the Joint Development Zone (JDZ) has been signed. The agreement, signed at the Joint Development Authority (JDA) headquaters in Abuja, was aimed at licensing the existing 3D seismic data for the JDZ.

The House of Representatives, Tuesday, stood down a motion seeking the National Assembly’s approval of cumulative foreign loan approval of over US$900million.

A leader of a kidnap gang has been arrested in Etche part of Rivers state.
Confirming the arrest the state Police Public Relations Officer, Dr Mrs Rita Inoma Abbey said the suspect led a gang to abduct one Emmanuel Nwokocha precisely on April 10, this year.