The National Insurance Commission, NAICOM is set to move against chief executive officers of insurance companies that operate broking or loss adjusting firms while still in office NAICOM Director, (Inspectorate), Mr. Sunday Thomas, said in Ijebu-Ode Ogun Sate, “This is unethical and it should not be encouraged.

The insurance industry needs more retail agents to effectively enforce compliance to the compulsory insurnace products and achieve bout 80 per cent insurance culture in the country.Consultant to National Insurance Commission (NAICOM), Mr. Yemi Soladoye said in Lagos the number of insurance agents in the industry at present is inadequate and there is need for significant increase in the number of agents operating in the sector.

Nigeria, Ghana and cote d’Ivoire have commenced moves to check trade abuses relating to the ECOWAS Trade Liberalisation Scheme (ETLS).
Minister of Commerce and Industry, Chief Achike Udenwa said in that ….

In the midst of the financial and economic crisis, a South African based Property and Leisure company listed on the Nigerian Stock Exchange (NSE) is set to commence construction activity on a N105bn (US$676m or R5.13bn) development that will include an 18- hole golf course, a 5-star hotel and 420 villas along Tarkwa Bay in Lagos.

Provoked by profit taking activities of investors in the Nigerian Stock Exchange (NSE), the value of listed equities dropped, Monday, by N32.85 billion.
Specifically, the value of listed equities, represented by the market capitalisation, depreciated by 0.63 per cent to close at N5.159 trillion, from N5.192 trillion at which it opened.

NEM Insurance has commenced moves to raise N20 billion fresh capital from the investing community. Shareholders at the 39th Annual General Meeting of the campany held in Lagos recently passed a resolution authorising directors to raise additional N20 billion.

The declining fortune of the footwear industry has been attributed to lack of patronage by the government.
Chief Executive Officer, Fut Wear Conceptus, Nigeria, Mr. Wole Madariola Olumide, said, “It is sad to know that government is not encouraging companies whose aim and objective is to ensure that sanity comes back to the economy of Nigeria.

The Real Estate Developers Association of Nigeria (REDAN) has said the 21-day ultimatum issued to bad debtors by the Federal Mortgage Bank of Nigeria (FMBN) would no longer be tenable because a committee has been put in place to resolve the issue.

Nigeria would tomorrow mark 49 years of independence. It would also provide the country a very good opportunity to look into the past and reflect on many activities that have made her thick or thin depending on which angle the country is standing at the time of review.

In an apparent response to the energy challenges that low scale entrepreneurs contend with all over the country, especially those operating open air telephone centers, Starcomms Plc, said it is giving out free solar chargers to some of its high performing Telecentre operators in the country.

California employers would be wise to take another look at their criminal background check policies in light of the possibility the state may be forced to release many prisoners early because of jail overcrowding, say some observers.

Oil prices posted a modest rise Monday, tracking a Wall Street stock rebound and amid geopolitical concerns as key producer Iran test-fired missiles ahead of talks over its atomic program.

The Central Bank of Nigeria (CBN) has warned micro- finance banks (MFBs) to stop falsifying monthly returns, adding it would henceforth impose sanctions on management of erring MFBs.

The Government of Japan and the African Development Bank (AfDB) have approved a grant from the Fund for African Private Sector Assistance (FAPA) of $178,579 to provide technical assistance to Banque Congolaise de l’Habitat.

IN an effort to encourage private sector participation in crude oil refining the Federal Government acting through the Department of Petroleum Resources has announced the immediate removal of the statutory refinery commitment deposit of 1 million US dollars.