EXCEPT the National Insurance Commission, NAICOM, approves new insurance licenses, only nine insurance companies in Nigeria would be allowed to underwrite big ticket policies by next year, under the Tier-Based Minimum Solvency Capital, TBMSC, structure.

STERLING Bank Plc has reported a 35.9 percent growth in gross earnings to N77.6 billion in the first half ended June 30, 2018 from N57.1 billion recorded in the corresponding period of 2017.

ONE of the ways businesses reduce the risk of decline in revenue due to delayed payment for goods and services is the use of Direct Debit.

I think regulators are too harsh on companies with the numerous and high amount of fines they impose on companies. The money that companies pay as fine is shareholders own. So I feel regulators should be soft pedal on the fines they impose on companies. It is the employees that somehow flout some of these rules. Why should shareholders bear the brunt? Also, the amount of fine they charge these companies need to be reviewed. For instance, the Central Bank of Nigeria, CBN, for a single offence, charges not less than N50 million. This is really too much and is affecting the amount that would have been given us as dividend.

SAFETRUST Mortgage Bank Limited posted over N2 billion in gross earnings for the Year 2017, representing 35 per cent growth for the same period in 2016.

HONEYWELL Flour Mills Plc has released its financial results for the first quarter ended June 30, 2018, posting N17.7 billion revenue from net sales of flour, semolina, wheat meal, pasta and instant noodles products.

Keystone Bank Limited, Africa’s most innovative banking service provider shone brightly at the International Banker Awards, 2018 as the lender emerged winner in two categories beating other nominees and carting away the prize for “Africa’s Best Customer Service Provider” and “Nigeria’s Most Innovative Retail Bank of the year, 2018”

Managing Director, Coastline Microfinance Bank  Limited, Mrs. Fejiro Ugute, in this interview stressed the need to review the criteria for accessing intervention funds of the  Central Bank of Nigeria, CBN so as to make them accessible to microfinance banks. She also spoke on efforts of the bank towards the financial inclusion target of the apex bank.

GREAT Nigeria Insurance Plc has deployed a digital platform known as GNIOnGO aimed at increasing its retail business sales.

FIRST Bank Nigeria    Holding Plc, FBNH, has charged Association of Stockbroking Houses of Nigeria, ASHON, to deepen capital market activities in order to be able to influence government policies. The bank also backed the moves by ASHON to establish a commodity exchange, stressing that it will help in deepening the market.