OTHER BUSINESSES

A financial institution rating agency, Agusto & Co, has identified insurance opportunities in the current job loss in the country. A team of analysts who spoke at the presentation of Agusto & Co research report on Nigeria’s Insurance Industry Outlook, in Lagos State, noted that though the current economic recession...

The Federal Government of Nigeria has come out with measures to boost local production of tomato paste. Minister of Industry and Trade, Dr. Okechukwu Enelamah, revealed the new package at the end of the Federal Executive Council (FEC) meeting in Abuja on Wednesday. According to him, “We will increase customs...

By Abdul Olalekan Standard Alliance Insurance Plc, has formally merged with its sister company, Standard Life Assurance, to become a one big insurance company, underwriting life and non-life insurance businesses. The court-sanctioned merger makes Standard Alliance Insurance Plc a leading composite insurance company with a shareholders fund of N6.392 billion...

By Abdul Olalekan Linkage Assurance Plc has promised its shareholders that the future looks bright for the company, given the result of its restructuring which is beginning to impact on its overall performance. It added that the firm will soon pay dividends to its teeming shareholders nationwide, if this positive...

South Africa-based MTN Group expects to report a full-year loss due to a $1 billion regulatory fine in Nigeria and underperformance there and at home, it said on Wednesday, sending its shares to a two-month low. Reuters’ report states. Africa's most populous nation and biggest economy Nigeria is MTN's most...

Cameroun, the winner of the African Cup of Nations hosted in Gabon pocketed a sum of $4 million as prize money, which is a 64 per cent increase from a previous $1.5 million. The runners-up, Egypt also took home $2 million. This increase came after CAF signed an agreement with...

By Abdul Olalekan The National Insurance Commission (NAICOM) has intervened in claims dispute between the insured and insurance companies, leading to N5.4 billion paid out as claims by the concerned insurers in 2016. A statement from the commission on Friday said the N5.4 billion claims were paid from 218 complaints...

By Abdul Olalekan Senator Aliyu Magatakada Wamako, has proposed a bill seeking the provision of 75 per cent as pension lump sum for retirees. The bill seeks amendment of some sections of the Pension Reform Act (PRA)  to accommodate new provisions that are perceived to provide succour to retirees in...

The National Union of Electricity Employees (NUEE) on Thursday said the Kaduna Electric, has terminated the appointments of 530 of its members. Kaduna State Chairman of the union, Ephraim James, said in Kaduna that the company issued sack letters to the workers on February 1. “The termination letters are being...

Ghana’s budget deficit could be twice as big as previously forecast, Finance Minister Ken Ofori-Atta said a day after the government revealed a 7 billion-cedi ($1.6 billion) hole in the budget. The disclosure sent bonds tumbling. The shortfall as a percentage of gross domestic product could be close to “double...