The Central Bank of Nigeria has threatened to sanction any microfinance bank or institution that continues to flout the regulatory and supervisory requirements.

The Managing Director, Egbin Power Station, Ikorodu, Mr Jonathan Ogbonna, says the station”s power generation has hit 500 mega watts. Ogbonna told the News Agency of Nigeria (NAN) on Monday in Lagos that the improvement in power generation at the plant was due to the restoration of gas supply pipeline from Utorogu in Delta, which was vandalised early in August.

The African Airlines As sociation (AFRAA) has painted a bleak furure for carriers on the continent unless urgent steps were taken by African governments to address problems confronting the airlines.

Banks’ risk managrs, under the aegesis of Risk Managers Association (RIMAN), have called for a review of the prudential guidelines and the entrenchment of whistle blowing policies as measures to check poor corporate governance practices in the industry.

The management of First Bank PLC has dismissed media reports about mass of employees in the bank.
In a statement issued Monday, the bank said, “The management of FirstBank would like to state emphatically that there are no plans for a “mass sacking” as has been erroneously reported in certain newspapers. On the contrary, as part of our staff replenishment strategy, the Bank has employed 506 fresh graduates in the last three months only.

The management of Fin Insurance Company Limited (Finsurance) says it is targeting a gross premium income of about N2 billion at the end of 2009 financial year.

Consolidated Hall mark Insurance PLC (CHI) achieved significant growth in all its key performance metrics in 2008 as the company achieved 100 per cent growth in its gross earnings as its gross premium income increased from N1.5bn in 2007 to N3.0bn in 2008.

Consolidated Hall mark Insurance PLC (CHI) achieved significant growth in all its key performance metrics in 2008 as the company achieved 100 per cent growth in its gross earnings as its gross premium income increased from N1.5bn in 2007 to N3.0bn in 2008.

Board of directors and shareholders of Niger Insurance Plc have at the 39th Annual General Meeting of the company held at Tinapa Business Resort in Calabar, Cross River State approved the promotion of the Executive Director (Finance & Admin) Mr Dauda Kolapo Adedeji as the Deputy Managing Director of the company. The promotion of Adedeji in is in line with the company’s succession plan over the years.

Board of directors and shareholders of Niger Insurance Plc have at the 39th Annual General Meeting of the company held at Tinapa Business Resort in Calabar, Cross River State approved the promotion of the Executive Director (Finance & Admin) Mr Dauda Kolapo Adedeji as the Deputy Managing Director of the company. The promotion of Adedeji in is in line with the company’s succession plan over the years.

The National Insurance Corporation Limited (NIC) of Uganda has announced a gross premium income of 15.26 billion Ugandan Shillings (N1.09 billion) for year 2008, representing an increase of 35 percent over the total earnings of 11.28 billion Shillings (N805.71 million) recorded in 2007.

ORGANISED labour in the nation’s financial institutions, weekend called on the Central Bank of Nigeria (CBN), to further empower and strengthen its surveillance activity of the banking sector to enable it detect/prevent future occurrence of crisis of confidence and perceived misconduct that is

Governor of the Central Bank of Nigeria, Malam Lamido Sanusi, has criticised conventional financial institutions, saying the current economic meltdown has exposed their deficiencies.

In line with its Corporate Social Responsibility (CSR) policy, Centage Mortgage Bank, one of the country’s Primary Mortgage Institutions(PMI), has embarked on a mission to empower the youths through a talent hunt promo.

It was mixed fortunes for a number of companies on the Nigerian capital market which presented their financial statements to the Nigerian Stock Exchange (NSE), last week, as Deap Capital Management and Trust Company Plc recorded significant decline in its bottom lines while NEM Insurance Plc recorded significant improvement in its key financial indices among others.