Lafarge Africa Plc has declared N13.66 billion dividends, which translates to 300kobo per share and bonus issue of one new share for every 10 previously held by shareholders for the year ended December 31, 2015. The company stated that it expects its installed capacity to rise to 14.1 million metric tons per annum with the completion of 2.5mm tons plant lines in one of its subsidiaries, United Cement Company of Nigeria, Unicem, Limited.

The Central Bank of Nigeria (CBN) on Friday reported that economic activities declined faster in June, confirming that the nation’s economy formally entered into recession in the second quarter of the year. Economic recession is a period of general decline in economic activities and it is typically defined as a decline in GDP for two or more consecutive quarters. Nigeria’s economy contracted in the first quarter of the year, as it recorded negative Gross Domestic Product (GDP) during the quarter. According to the National Bureau of Statistics the nation’s GDP in Q1 2016 contracted by 0.36 per cent, the first negative growth in many years.

The Nigeria Electronic Fraud Forum (NeFF) has commenced moves to combat the threat of internet fraud through the ‘deep Web’. This started with sensitization of stakeholders in the electronic payment industry during the 2nd Quarterly meeting of the Forum held on Friday. Commenting on the rationale for theme of the meeting, which was, “The Deep Web and its impact on the Global Financial Industry”, NeFF Chairman and Director of Banking and Payment System Department, Central Bank of Nigeria (CBN), Mr. Dipo Fatokun said, “The reality we face today is that the conventional use of the World Wide Web is like dragging a net across the surface of the ocean, capturing less than 1% of Web Content.

All buildings are exposed to disasters like fire, collapse, earthquakes, storm or flood. However, if any of such disasters befall a public building; the loss that will emanate from such incident will definitely be massive compared to if a private building had been affected. Unfortunately, many public buildings have been affected by one or more of such disasters and property worth millions of naira were lost, without any form of compensation to victims to recoup these losses. Unknown to many, the Occupiers Liability Insurance is compulsory for public buildings in the country to minimise losses from such disasters.

Micro-insurance across Africa is beginning to take its rightful place in insurance market as the premiums written from the class stands at $756million in 2014. This was disclosed to Vanguard in Abuja by Microinsurance network and Munich Re Foundation when the duo released the 2015 landscape of micro insurance Africa in Königstein. A breakdown of the $756m microinsurance written premiums in the region showed a 1.1precent total premium of $69bn generated on insurance premium in the Africa insurance market with South Africa and six other countries including Nigeria.