Insurance recapitalisation: Oyedele queries NAICOM over processing fee, payment into escrow account
By Emma Ujah, Abuja Bureau Chief The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has queried the National Insurance Commission (NAICOM) over its imposition of a 1% Capital Injection Fee, alongside verification fees to be paid by insurance companies in the ongoing sector recapitalization exercise. The query followed a petition by NICON […]
Insurance industry records 49.33% growth
The Nigerian insurance industry has continued to wax stronger as the sector recorded 49.33 percent growth with a total premium income of N150,259,567 excluding reinsurance premium. In year 2007, the total industry gross premium income was over N100billion.
N100m capital base for brokers, speculative , Babalola
The Minister of Finance, Mr Remi Bablola has said that the N100 million capital base for insurance brokers is mere speculation.
Babalola dispelled the rumours about the proposed increase in the capital base of insurance brokers to N100 million while receiving the delegation of the Nigerian Council of Registered Insurance Brokers led by its President, Dr Teslim Sanusi in Abuja recently.
IRM to certify managers at risk management training
The Institute of Risk Management (IRM) in collaboration with the Risk and Insurance Managers Society of Nigeria will be certifying managers after a two-day intensive training scheduled for March in Lagos.
Godwin Emefiele takes over from Ovia at Zenith, August 1
The Board of Zenith Bank PLC, yester-day, named Godwin Emefiele as the Managing Director/Chief Executive designate following Central Bank of Nigeria (CBN) directive that banks whose chief executives have served 10 years and above should draw up a succession plan and leave the banking scene at the end of July 2010.
First Bank to achieve preeminence in allbusiness segment, Otudeko
First Bank of Nigeria PLC is to achieve prominence in all its business segment with the aim of becoming the bank of first choice for majority of Nigerians.
