Mr. Felix Egbamuno is the Chairman of Femro 3, a textile manufacturing company based in Lagos. The company is one of the beneficiaries of the Federal Government’s N100 billion Cotton, Textile and Garment (CTG) Revival Fund being managed by the Bank of Industry (BoI).

Some banks in Lagos on Tuesday warned customers not to respond to requests for their personal bank details over the Internet, telephone or in person.

The Chartered Institute of Bankers of Nigeria (CIBN) has called on the Federal Government to intensify the implementation of infrastructure development programmes and provide special intervention funds for real and agricultural sectors in order to ensure the success of the ongoing economic diversification agenda.

Food and Agriculture Organisation (FAO) has committed $2 million of emergency funding supplemented by over $5 million from USAID to kick-start H7N9 response efforts as it warns the international community that the H7N9 and H5N1 avian influenza viruses continue to pose serious threats to human and animal health, especially in view of the upcoming flu season.

Some of these militating factors would include – drastically low per capital income, unemployment & high incidence of job losses, poor and or dwindling economic environment and activities; poor pay and reward system within the Nigerian landscape including failure or ignorance of insurance buyers to appreciate the essence of premium payment and the implications of non-payment under an insurance contract among several other factors.

Mr. Gbenga Olawoyin is the General Manager/Chief Executive Officer of Wema Insurance Brokers Ltd. In this interview with ROSEMARY ONUOHA, he spoke on the challenges confronting the insurance sector since the commencement of the ‘No premium no cover’ policy.

The Federal Government has described as “unfair” insinuations that the contract awarded by the Ministry of Power for the Zungeru Hydroelectric Power Project was excessively high.

Law Union & Rock Insurance Plc has setup a microinsurance unit to provide policies to meet the needs of different segments of the society.

As Nigeria works on the development of a policy for broadband roll out and new telecoms marketing opportunities, Airtel Nigeria’s Chief Executive Officer & Managing Director, Segun Ogunsanya, will lead discourse on the future of Nigeria’s Telecoms Market as key note speaker at the 7th annual Nigerian Telecom Development Lecture.

US banking giant Citigroup has appointed Ade Ayeyemi to head its Johannesburg-based sub-Saharan Africa division, the company said on Tuesday.

Another major revelation in the various complaints of investors is that of attitude of regulators and market operators to the problem of unclaimed dividends. Severally, we have received complaints from investors, who have invested for years and they have never received dividend. Many of them want to collect their dividend and they had made attempts, but they were deliberately frustrated. A classical example is the complaint from Mr. Udenta Christopher, who said:

The contribution of the oil and gas sector to the Nigerian economy declined significantly in the second quarter of 2013, as revenue accruable to the Federal Government from the sector dipped by N35.7 billion.

Nigeria advertising industry spend on Above-the-Line Advertising activities dropped by 10.6 per cent to N91.846 billion in 2012 as against N102.755 billion in 2011.

Varied reactions greet the $9-billion refinery, petrochemical and fertilizer mega project embarked upon by Africa’s richest man, Mr. Aliko Dangote, being proposed at the Olokola Free Trade Zone, OK FTZ.

The Managing Director, Midwestern Oil and Gas Company, Mr. Adams Okoene, recently intimated journalist on some developments within the company, and plans for the future as captured by Vanguard. Excerpt: