OTHER BUSINESSES

By Nkem Ndem It is true that Lagos is the heart of Nigeria and it lures the crowds – both local from other states and tourists from other parts of the world. As a result, some prominent features of the city include its traffic-clogged streets, as well as the almost...

By Abdul Olalekan Following claims by the management of an insurance broking firm, Glanvills Enthoven Nigeria (GEN) that it's lapsed operating licence has been reinstated; the National Insurance Commission (NAICOM) has refuted the claim. The commission, in a statement issued by its Head, Corporate Affairs, Rasaaq Salami, and made available...

Senate President Bukola Saraki has said that the privatisation of the power sector has failed. Saraki said this on Tuesday in Abuja in his message at the opening session of the Senate, while also decrying the policy inconsistencies that have continued to challenge the business environment. According to him, “Before...

Cristiano Ronaldo, who plays for Real Madrid, received FIFA’s best player award for the fourth time on Monday, after Portugal and Real Madrid won both major European titles in 2016. Ronaldo had taken Portugal to win the European Cup in 2016. Indeed, Ronaldo beat runner-up and great rival Lionel Messi...

Nigerian Maritime Administration and Safety Agency (NIMASA) has approved the redeployment of some senior Management staff of the Agency. The redeployment exercise comes on the heels of the recent promotion which saw to the elevation of eight Deputy Directors as Directors, 15 Assistant Directors to Deputy Directors while 56 grade...

By Abdul Olalekan The Director-General, Lagos State Pension Commission (LASPEC), Mrs. Folashade Onanuga, believes the management of annuity assets, should remains sorely with life insurers, due to risk factors associated with the business. She added that the transfer of annuity assets to Pension Fund Custodians (PFCs) would ensure proper safe...

Nigeria plans to establish an aviation university to promote research, development and production of high level manpower. Aviation Minister, Hadi Sirika, revealed the plan on Saturday after a familiarisation tour of the Nigerian College of Aviation Technology (NCAT) in Zaria, Kaduna State. “The aviation university will be different from NCAT;...

The Nigerian National Petroleum Corporation (NNPC) has commenced moves to reduce products importation by boosting the capacity utilization of the refineries to 60 per cent by the end of 2017. This was disclosed by the Group Managing Director of NNPC, Dr Maikanti Baru, during a courtesy call on him by...

By Abdul Olalekan Experts have charged the 58 insurance companies in the country to increase insurance penetration and acceptance through innovative products and services. The experts believe the current arrays of insurance products in the country are not innovative enough to witness a huge surge in insurance subscription. The Chief...

The Bank of Industry (BoI) has disbursed N3.1 billion to 14 microfinance banks under its Bottom of Pyramid (BOP) scheme. The scheme is to enhance the financial inclusion of micro entrepreneurs in the country. The Acting Managing Director of the bank, Mr Waheed Olagunju, made the disclosure at the presentation...