The National Insurance Commission (NAICOM) and the Pension Commission (PENCOM) have collaborated to deepen insurance penetration in the country.

An early shot at the capital market just before the burst has shot SA Insurance to the list of most capitalised underwriters in the country. Current results released to shareholders last week shows a 264% growth in shareholders’ funds at N24billion from N6.3billion position in 2007.

Royal Exchange Plc group announced a gross premium income of N3.3 billion in 2008 financial year.
The N3.3billion posted as at December 2008 was a significant increase from N2.7 billion the company generated in 2007. Expenses for the period leaped to N1.492 billion from N740.65 million the previous year, as a result of N1.16 billion management expenses which shareholders condemned in totality.

The federal government is making arrangement to settle the debts it owed local contractors in a bid to assist the ongoing reforms in the banking sector. The Minister of Finance Dr. Mansur Murhtar disclosed this at a press briefing organised by the Nigeria delegation to this year’s IMF/World Bank meeting in Istanbul Turkey.

By Omoh Gabriel, Business Editor The 2009 IMF/World A nnual meetings came to a grand end Thursday  in Istanbul Turkey with the election of Nigeria’s Minister of Finance, Dr Mansur Muhtar as the Chairman of the Bretton Wood Institution Board of Governors. Nigeria thus will over see the arrangement for the organisation of the 2010 […]

Access Bank Plc, Africa’s financial services brand of global reckoning, has undertaken the sponsorship of the broadcast of UEFA competitions to the Nigerian public for the current UEFA season.

Managing Director/Chief Executive, Equitorial Trust Bank, Gbolahan Olukayode Folayan Bank has said investing in the of training of staff for optimal productivity is the priority in the bank.

IIntercontinental Bank and Skye Bank won two awards each to dominate the maiden edition of Interswitch Nigerian e-Payment Awards. The awards presentation took place in Calabar, South-South, Nigeria, during the second annual Techno-Interactive Conference organized bythe company.

Management of Afribank Nigeria Plc has said that it is committed to recovering all non-performing loans in the books of the Bank stressing that this is central to its ongoing strategic turnaround plan that will see it achieve competitiveness in a short time.

Nigeria will soon join the economies of the world that have used their foreign reserve to set up sovereign wealth funds to create more assets for the country with foreign reserves.

THE Nigeria National Petroleum Corporation (NNPC)/ Eni, ConocoPhillips Joint Venture operated by Agip are fine-tuning arrangements to embark on the second phase of the Okpai Independent Power Plant which will increase installed capacity by one gigawatts.

Nigerian cocoa producers are urging the government to reinstate a waiver on jute bag import duties or else risk beans from the world’s number four grower being rejected on international markets.

Zenith Bank Plc is proposing to raise N300 billion fresh capital from the capital market to consolidate and reposition itself following the ongoing reforms in the banking industry.

Actis, a private equity investor in emerging markets has announced the investment of about US$750m in it’s infrastructure 2nd fund.
A report said that this pan-emerging markets fund will focus principally on opportunities in power generation and transport.

ABUJA – The Group managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Sanusi Barkindo, has said the nation’s oil and gas industry will continue to implement strategies design to reduce emission of greenhouse gases in the country Barkindo made this known on Friday, during the First National Climate Change Roundtable, organized by the […]