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Nigerian insurers should drive local content flow

Even with the expected peace in the Niger-Delta resulting from Federal Government’s amnesty, insurers are still wary of the region. FBN Insurance Brokers CEO, Val Ojumah, an acclaimed international broker, advises local insurers should still stay away from the business in that region. Ostensibly for reasons of the special skills needed for the peculiar risks.

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REAN generates N3.3bn premium income

Royal Exchange Plc group announced a gross premium income of N3.3 billion in 2008 financial year.
The N3.3billion posted as at December 2008 was a significant increase from N2.7 billion the company generated in 2007. Expenses for the period leaped to N1.492 billion from N740.65 million the previous year, as a result of N1.16 billion management expenses which shareholders condemned in totality.

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FG to pay local contractors soon

The federal government is making arrangement to settle the debts it owed local contractors in a bid to assist the ongoing reforms in the banking sector. The Minister of Finance Dr. Mansur Murhtar disclosed this at a press briefing organised by the Nigeria delegation to this year’s IMF/World Bank meeting in Istanbul Turkey.

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