NAICOM revokes Universal Insurance’s licence, appoints receiver
By Innocent Anaba The National Insurance Commission (NAICOM) has revoked the license of Universal Insurance Plc and appointed a receiver/provisional liquidator to commence the process of winding up the company’s affairs. The cancellation, which took effect on August 14, 2026, followed the company’s alleged failure to meet the prescribed Minimum Capital Requirement (MCR) applicable to its […]
Truck operators cry over alleged extortions by LAPARMU operatives
Truck operators in the maritime sector, have again cried out to the federal government to check the excesses of the Lagos Ports Access Roads Monitoring Unit (LAPARMU), alleging their extortionary tendencies would wind the economy if allowed to continue.
Vision 2020: Nigeria must be knowledge driven, Usman
THE Minister/Deputy Chairman, National Planning Commission (NPC), Dr. Shamsuddeeen Usman has said that if Nigeria must achieve the set target of becoming one of the twenty world largest economies, there was the need for the country to be knowledge driven.
Share value on NSE dips by N26bn
Driven by losses on the share prices of quoted companies in the Nigerian Capital market, Monday, the value of listed equities, represented by the market capitalisation dipped by N25.64 billion.
Expert blames insurance companies’ woes on huge share issue
An expert in the Nigerian capital market, Mr. Tunde Adeyemi has lamented the not-too-impressive financial performances of insurance companies on the Nigerian Stock Exchange (NSE) over the years, blaming it on their high number of issued shares.
Lack of tug boats frustrate eastern ports’ concessionaires’ efforts
Effort of terminal operators to revive the already moribund Eastern ports with heavy financial investments are being frustrated by the Mallam Abdulsalam Mohammed led management of the Nigerian Ports Authority (NPA) which has refused to allocate tug boats to the ports in the region.
IDL plans expansion into African markets
Intercontinental Distillers Limited (IDL) has announced its plans to expand the distribution of its products across the African market in the next couple of years.
The private sector, informal sector lag behind in pension contribution — Maccido
Bello Maccido is a well known investment banker, a lawyer and administrator. He has over 25 years hands-on experience in the financial services sector. With his rich background in funds management, he moved into pensions industry with the enactment of the Pensions Act 2004.
How Standard Chartered escaped the global financial crisis — CEO
Focus on markets and products with familiar risk parameters, concentration on core banking businesses and focus on basics of banking helped Standard Chartered Bank to escape the negative impact of the global financial crisis, says the bank’s Chief Executive Officer.
Bank bailouts cost £950 a household
UK Financial Investments Limited (UKFI), which manages public stakes in two banks, said every household had more than £3,000 invested in Lloyds and RBS shares.
CBN examination report indicts DFIs, PMIs and MFBs
The examination report of the Central Bank of Nigeria (CBN) has indicted the management of Development Finance Institutions (DFIs), Primary Mortgage Institutions (PMIs), Microfinance Banks (MFBs) and Finance Houses of poor/deteriorating asset quality, weak corporate governance and lack of focus.
