N700m campaign funds in Edo: EFCC invites Orbih
THE Economic and Financial Crimes Commission, EFCC, has invited former chairman Board of Trustees of the Peoples Democratic Party, PDP, Chief Tony Anenih, and the state chairman of the party, Chief Dan Orbih, to appear before it to explain how the N700 million presidential election fund was expended.
Current economic woes negatively affecting MFBs – Operators
Operators of microfinance banks in Nigeria have lamented the current economic situation in the country, stating that if the Federal Government fails to take urgent steps in strengthening the economy, many businesses would fail and microfinance banks would be negatively affected.
Africa accounts for 1.4% of world premium —AIO
The African Insurance Organisation, AIO, has decried the low level of insurance penetration in Africa, saying that the continent can boast of only about 1.4 per cent of total world premium. President of AIO, Mrs. Lamia Ben Mahmoud who made the assertion at the 43rd Conference and Annual General Assembly of the AIO in Marrakech, Morocco on Monday noted that there is clear predominance of developed countries on the insurance market.
Teach the children the truth
THE hair-splitting over the teaching of Religious Studies and National Values in Primary and Secondary Schools, continue with the regulatory Nigerian Educational Research and Development Council (NERDC) entering the fray. In a rather combative statement by its Executive Secretary, Prof. Ismail Junaidu, NERDC described most of the reports on the issue as “speculative, false and unfounded.” It said rather than being taught as a single subject, each religion and National values will be taught separately.
Infinity Trust Mortgage records N7.6bn total assets
Infinity Trust Mortgage Bank Plc has declared a total asset of N7.6 billion at the end of its operations for the financial year ended December 31, 2015. Chairman of the bank, Dr Adeyinka Bibilari, speaking at the bank’s 10th annual general meeting in Abuja, noted that the figure shows a growth of 5.55 percent over the N7.2 billion that the bank recorded for its operations in 2014. The bank also posted a profit before taxation (PBT) of N262.4 million while total operating expenses increased by 10.5 per cent from N393 million in 2014 to N434 million in 2015. He described the bank’s performance as a feat in view of the harsh economic and operating environment during the period.
NSE sustains winning streak, as investors’ wealth rise N214bn
Activities on the Nigerian Stock Exchange, NSE, continued upbeat at the close of transactions last week as sustained optimism reigned in the market throughout trading session, resulting in N214 billion appreciation in investors wealth. Specifically, at the end of trading last week, the market capitalisation, rose to N9.313 trillion in comparison to the opening figure of N9.099 trillion, representing 2.4 per cent increase.
