OTHER BUSINESSES

By Abdul Olalekan There are strong indications that the pension industry may have succeeded in snatching away annuity business from insurance industry, as some life insurance firms in the country have remitted their annuity fund to Pension Fund Custodians (PFCs) as earlier directed by the National Pension Commission (PenCom), Business...

By Abdul Olalekan 148 retirees from the Lagos State civil service were paid N597 million as their pension entitlements. The beneficiaries are retired civil servants of the Mainstream Civil Service, Local Governments and State Universal Basic Education Board (SUBEB), Teachers Establishments and Pensions Office (TEPO) and other parastatals of the...

Guaranty Trust Bank Plc has been awarded ‘Best Corporate Governance, Africa’, in the Financial Services Category at the 2017 Corporate Governance Awards. The event, organized by the Ethical Boardroom Magazine, recognizes outstanding companies who have exhibited exceptional leadership in the area of governance and professional ethics. Over the years, Ethical...

Nigeria's Trans Forcados Pipeline which has been shut for most of the last year could reopen "towards the end of the second quarter", Seplat Chief Executive Austin Avuru said. The pipeline, operated by the Nigerian Petroleum Development Company (NPDC), has been hit by several militant attacks, the first on a...

The Federal government of Nigeria has asked Goldman Sachs and Stanbic IBTC Bank, the local unit of South Africa's Standard Bank, to advise it on the sale of a debut "diaspora bond" targeted at Nigerians living abroad, Stanbic said on Monday. Nigeria first announced plans to sell bonds targeting Nigerian...

The Nigerian hospitality report 2017 which has officially been launched by Jumia Travel, has shown that the country generated 97 per cent of its tourism revenue from domestic travel in 2016 while foreign travel accounted for 3 per cent. Kushal Dutta, MD of Jumia Travel Nigeria stated this while over...

By Abdul Olalekan Despite the devaluation of Naira and double digit inflation rate that have impacted businesses negatively and put the economy in recession, the nation’s Pension Funds may hit N7.2 trillion by December 2017, Business 247 News Online exclusively learnt. As at November 2016, the funds stood at N6.2...

By Abdul Olalekan Credit experts have advised Nigerians, especially the young ones, to start a career in credit management as the future of the country is a credit-based economy. Believing that effective credit management is vital for the working of modern economy, they called on Nigerians and Nigeria to embrace...

By Abdul Olalekan The Insurers Committee, under the leadership of National Insurance Commission (NAICOM) will converge at its 1st Annual Retreat to discuss innovation and healthy competition that will put insurance industry on the path of growth. A statement from the Head, Corporate Affairs, NAICOM, Mr. Rasaaq Salami, and made...

By Abdul Olalekan Muslim, Christian and traditional religions clerics have charged Nigerian youths, especially the graduates, to have entrepreneurial spirit as they said this remains the best way to survive the current economic recession in the country. The clerics, who spoke at the maiden outreach of the Taking All Men...