Insurance is the transfer of risk from people exposed to risks to professional risk carriers, which are the insurance companies. Every one of us is exposed to one risk or the other because life is full of risks and all these risks can be identified, quantified and reduced to monetary terms.

The number of Chinese citizens regularised and legally residing in Lagos and Ogun zone of the Nigeria Immigration service is about 17,00 according to Comptroller General of Immigration Service, Mr. David Parradang.

The Joint Task Force in the Niger Delta code-named ‘Operation Pulo Shield’, said it has arrested 608 suspected oil thieves in 594 raids carried out between January and June.

This column has discussed on 17 July and 24 July 2013 the results of FBN Holdings, FBNH, Plc as provided in the company’s 2012 annual report and accounts. The report at page 162 gives the value of dividends that have not been claimed by shareholders for the period 2003 to 2011 as N8.561 billion. About 70% of this total is for the financial years ending December 2010 and December 2011.

Staco Insurance plc has taken on as the official insurer of MTN Lagos Street Soccer Championship Season six even as the underwriter has thrown its weight behind the tournament.

Fidson Healthcare Plc’s shareholders have endorsed proposal by its Board of Directors to increase its authorised share capital from N750 million divided into 1.5 billion ordinary shares of 50 kobo each to N1.2 billion by creation of additional shares of 900 million ordinary shares of 50 kobo each , ranking pari-passu in all respect with the existing ordinary shares.

In a quest to reduce poverty in the economy, the Federal Government is putting finishing touches on the insurance industry bill for onward transmission to the National Assembly.

In its bid to prevent fraud and cyber threats,United Bank for Africa (UBA) Plc, has commissioned a security operations centre and forensic laboratory that provides a complete monitoring of all electronic banking transactions.

The Nigerian Insurers Association (NIA) and the International Monetary Fund (IMF) are exploring means to harness and turn the potentials of the insurance industry into economic growth for the country.

Law Union & Rock Insurance Plc has said it is improving household insurance with COMPAC insurance policy to give more protection to buildings and occupants.

he Department of Petroleum Resources, DPR, Tuesday, said Marginal Fields only account for 2.1 per cent of the country’s total crude production, with a daily production of about 60,000 barrels of oil per day.

The Federal Government has given the assurance that the end is near for the nation’s current power crises, as more gas will be released to feed the power generating plants in the country.

DOCKWORKERS branch of the Maritime Workers Union of Nigeria, MWUN, has called on the National Assembly to set up a high powered committee to investigate alleged unfair labour practices by the largest container terminal in West Africa- APM terminals- and take appropriate action to ensure industrial peace.

Mr. Godwin Anono: What GSK is trying to do is what we call share reconstruction, which is a process where a company reduces the volume of it shares and its shareholders end up losing a lot from their investment in the company. But in this case, the shares, which GSK Nigeria investors will lose, are what foreign shareholders GSK will gain. We have not said they (GSK United Kingdom) should not increase their shares; what we are saying is that they should go and buy at the market price.

If there’s a better petroleum law in the books or proposed than the draft Petroleum Industry Bill (PIB) before the National Assembly, I’d like to know what it is.