CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Sale: PENGASSAN gives Addax mgt July 3 ultimatum
PETROLEUM and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has given a July 3, 2009 deadline for all labour/industrial relations matters including pensions and gratuities of members that must be discussed and finalised before any alleged planned sale of Addax Petroleum Development Nigeria Ltd is consummated to avoid the wrath of organised labour.
Bearish trend persists, share value plunges by N65bn
The bearish trend in the Nigerian capital market continued Monday, as key indicators of the Nigerian Stock Exchange (NSE) recorded significant depreciation, brought about by profit-taking activities by investors.
Disability cover now part of group life insurance
Dr Timi Austen-Peters who read the position paper on behalf of a group of participants that reviewed the paper, Pension Act 2004: An Assessment of the Adequacy of the Legal Framework delivered by Dr Kanu Agabi, former Attorney-General of the Federation said it was important that the disability cover is key to the insurance package.
Air France crash may drive up rates
The fatal June 1 crash of an Air France flight may cause further price increases in the aviation insurance market, although it is too early to say for sure, according to observers.
CIIN awards Fellows to Koroma, Adejumo
Chartered Insurance Institute of Nigeria (CIIN) last week honour President of Sierra Leone, Ernest Bai Koroma and the immediate past president of the institute, Mr Adeyemo Adejumo with award of fellows of the institute.
Law Union & Rock appoints Segun Ilori as Acting MD
The board of directors of Law Union and Rock Insurance Plc has appointed Mr Segun Ilori, Executive Director (Fin & Admin) of the company as acting managing director following the resignation of the Mr Olumide Falohun.
Air France to make crash compensation payments
Air France will compensate through its insurers the families of the victims of a June 1 crash in which 228 people died, the company’s chief executive said on Friday.
Odah, three others set for NIA Council seats
Elections into Govern ing Council of the Nigerian Insurers Association may be assuming a battle dimension at the association’s 38th Annual General Meeting as Mr. Godwin Odah, Managing Director/CEO Union Assurance Company Ltd. will lead three others to contest for three vacant seats on Thursday.
Custodian nets N1.5bn profit in 2008
Custodian & Allied In surance Plc have announced a profit after tax of over N1.5 billion in its 2008 financial results. This is contained in its current annual reports released last week at the Annual General meeting. Of the total net profit, about N840million or 17kobo per share was paid out as dividend to shareholders.
CIIN inaugurates Delta State branch executive
THE Chartered Insurance Institute of Nigeria CIIN has installed a new executive team for the Delta State Branch of the Institute headed by Mr Leke Ojabanjo as the chairman.
