The insurance industry is putting modalities in place to partner with the Nigeria Interbank Settlement System (NIBSS) in the use of technology to reduce overhead costs.

Investors in the nation’s stock market lost N50.9 billion last week as market capitalisation dropped to N9.358 trillion on Friday from N9.408 trillion it opened during the week. In the same vein, another stock market gauge, the All Share Index depreciated by 0.65 per cent to close the week under review at 27,246.88 points.

Lafarge Africa Plc, a leading Sub-Saharan Africa building materials company and a subsidiary of LafargeHolcim, a world leader in building materials operating in Nigeria has commenced mobilization of professionals in Nigeria’s built sector and students for participation in the 5th International LafargeHolcim Awards.

Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc has concluded plans to launch a new Exchange Traded Fund (ETF). To be called the Stanbic IBTC Pension ETF 40, the ETF will mirror the Pension 40 Index (Pension Index), according to the company. The launch will bring to two the ETFs in Stanbic IBTC Asset Management Limited’s portfolio.

Dangote Flour Mills Plc has returned to profitability, posting a Profit Before Tax, PBT, of N2.64 billion in the half year ended June 30, 2016, compared to a loss of N9.55 billion posted at the corresponding period in 2015 after its re-acquisition from Tiger Branded Consumer Goods Plc some months ago. Dangote Flour Mills consist of Dangote Flour, Dangote Pasta, and Dangote Noodles.

First City Monument Bank (FCMB) has rewarded another set of 644 customers at the second draws of the bank’s ongoing promotion tagged, ‘’FCMB Millionaire Promo Season 3”. The winners emerged at the electronic selection exercise which took place across the 4 Regions and 25 zones of the Bank nationwide on 10th August, 2016.

The Federal Government has set up an inter-ministerial committee, comprising ministries of Interior, Foreign Affairs and Trade and Investment to immediately address all challenges inhibiting foreign investment in Nigeria. The Minister of Interior, retired Lt.-Gen Abdulrahman Dambazau, disclosed this on Friday in Abuja, at a meeting with the Minister of Foreign Affairs, Mr Geoffrey Onyeama and his Trade and Investment counterpart,Dr Okechukwu Enelamah.

The Federal Government requires 300 Continuous Operating Reference, COR, to meet the mapping need and ensuring effective coverage and accurate forecasting of every segment of surveying activities, the Surveyor-General of the Federation, Surv. Ebisintei Awudu has said.

A 2001 – 02 analysis of global IT infrastructure ranked Nigeria 75th of 75 surveyed countries. (Centre for International Development) The whole of West Africa suffers from endemic “information poverty” and Nigeria is no exception. Nigeria obtained its first digital computer in 1963. Installations remained low even after many individual Universities, government departments and public sector undertakings had acquired some amount of computing power towards the end of the 1970s.

When acquiring a property, you have to take necessary steps to ensure that what you are buying is genuine. Then you have to obtain the proper title if none existed before or perfect the title as the case may be. Obtaining the Governor’s consent to all land transactions is a means of perfecting land titles.

Dangote Cement Plc, a subsidiary of Dangote Group, has disclosed plan to commence mining its own coal at Ankpa, Kogi State by fourth quarter of the year. The company also said that due to acute gas shortages in the country following disruptions occasioned by militancy in the Niger Delta region, it has switched its plant lines to coal to minimize cost and increase margin.

To complement Lagos state government in its efforts at infrastructure provision, the Redeemed Christian Church of God RCCG, Solid Rock Parish, Ojodu, Lagos has built and equipped a 12-classroom block as donation to Ojodu Primary School.

I must put on record that many government functionaries, including governors, ministers and heads of Agencies and Parastatals do visit the Nigerian Stock Exchange, NSE . Recently, the NSE hosted the Speaker of House of Representatives, Honourable Yakubu Dogara who addressed the stockbrokers and closed the market by ringing the closing gong like other important visitors. Also, recall that the Vice President of Nigeria, Professor Yemi Osinbajo had also appeared on the trading floor.

Minister of Communi- cations Technology, Barr. Adebayo Shittu, says the Nigerian Postal Service has the capacity to generate N1 trillion annually into federal government purse.

These are challenging and stormy times for the Nigerian economy. For the first time in a decade, an economy that used to record growth rate of 7.0 per cent is now in recession. It recorded negative growth rates in the first and second quarters of this year, courtesy decline in crude oil price as well as fiscal and monetary policy that aggravated the severe impact of the decline from oil revenue on businesses and individuals.