Equity Assurance has recorded premium income of N2.21 billion for its operations in the last financial year ended December 31, 2008.Read More
The Central Bank of Nigeria (CBN) has ruled out the possibility of injecting bailout funds into distressed microfinance banks. The apex bank has also commenced target examination of the banks to ascertain their financial health.Read More
Yinka Kolawole Private real estate developers and other stakeholders in the housing development sector, under the aegis of Real Estate Developers Association of Nigeria (REDAN), have denounced the recent publications by the Federal Mortgage Bank of Nigeria (FMBN) of its purported list of bad debtors. After a recent meeting of the association, National President of
Investorsâ€™ woes were further heightened last week, as two companies on the Nigerian Stock Exchange (NSE) declared a loss of N561.96 million in their half year financial statements released to the investing communities.Read More
Skye Bank Plc has been appointed by the Rivers State government to collect taxes, levies and fees due to the stateâ€™s Board of Internal Revenue, ministries, departments and agencies under its new policy of â€œPay Direct Systemâ€.Read More
The Federal Capital Development Authority (FCDA) is set to embark on an aggressive mass housing programme at an estimated cost of N75 billion, that will deliver 5,000 housing units by 2011.Read More
MANY Nigerians have come to accept the situation that Nigerian banks donâ€™t give loans to encourage business men and women. In truth, every bank thrives on giving out loans but only do so to customers who in their estimation can repay the loans plus interest.Read More
A mass exodus of senior and experienced staff is imminent in the Central Bank of Nigeria, CBN following widespread discontent over a new pension system.Read More
The National Insurance Commission (NAICOM) last month wielded the big stick against UTIB Insurance Brokers. The broker was suspended for six months over what regulatory body described as unethical practices involving N314 million premium.Read More
The Mortgage Banking Association of Nigeria (MBAN), the umbrella body for all Primary Mortgage Institutions (PMIs) in Nigeria, has declared that the mortgage banking industry in the country is stable and sound, in an apparent move to boost public confidence in the sector in the wake of recent reforms in the banking industry.Read More
The impact of the Central Bank of Nigeriaâ€™s banking reforms has started taking its toll as the Federal Government agency saddled with the sale of government interests in businesses in Nigeria, Bureau of Public Enterprises, BPE, has found that buyers of some of the companies it has sold cannot raise the money to effect payment .Read More
Savings promotion is increasingly becoming a regular feature in the banking industry. All the major banks with few exceptions have conducted savings promotions in the last two years. First Bank, Intercontinental Bank, Union Bank, Diamond Bank, and Fidelity Bank are currently conducting saving promotions.Read More
The Lagos State House of Assembly has held a public hearing to herald a bill aimed at regulating mortgage practice in the state.
In his welcome address, Chairman, House Committee on Finance, Hon. Adeola Olamilekan, said that when passed into law, the bill will encourage the growth of mortgages in property, regulate various aspects of consumers loans for acquisition of property and realisation of securities and other connected matters.