The National Insurance Commission (NAICOM) has restated that the recapitalisation of insurance companies has the huge potential to cause a positive shift in the market and overall economic health of the country. This was disclosed by the Deputy Commissioner (technical) of NAICOM, Mr Sunday Thomas, who sat for the Commissioner of Insurance, at the seminar […]

The Nigeria National Petroleum Corporation (NNPC) spent over N15 billion in November, last year to maintain pipelines in the country, The Nation has learnt. According to Federation Account Allocation Committee (FAAC) report submitted by NNPC, under appendix N, the oil firm said it spent N1,556,985,671.03 on security and maintenance of pipelines; N154,293,264.32 on pipeline and other facility […]

AIICO Insurance Plc has reported gross written premiums of 25.4 billion in its unaudited half year 2019 financial results, up 32 per cent from the same period in 2018, Executive Director, Chief Operations Officer, Babatunde Fajemirokun has said. He spoke during a media parley with reporters at the company’s headquarters in Lagos. Fajemirokun said the […]

Nigeria’s power system masterplan would require a massive investment of over $20 billion for power generation over the next 20 years, it was gathered at the weekend. According to a report released by French development agency, Agence Francaise De Development (AFD),  Nigeria was already attracting growing interest in power generation. Titled: “Finance in the Energy […]

The Nigeria National Petroleum Corporation (NNPC) has assured stakeholders that it has no plans to relocate headquarters of its subsidiary, Nigerian Gas Company (NGC) from Delta State. A statement by the Group General Manager, Group Public Affairs Division, Ndu Ughamadu, described as unfortunate, statement credited to Deputy President of the Senate, Ovie Omo-Agege, where he […]

MTN Nigeria Communications Plc has invested more than N2 trillion in its business operations over the past 18 years. The market value of MTN Nigeria closed at the weekend at N2.585 trillion. MTN Nigeria, in a regulatory filing at the Nigerian Stock Exchange (NSE) at the weekend, indicated that it has invested more than N2 […]

Investors in equities have lost N1.38 trillion over the past seven months as the onset of the first half earnings season failed to sustain expected recovery at the stock market. Nigerian equities suffered their worst depreciation so far this year in July, dropping an average of 7.50 per cent, valued at about N990.45 billion. The […]

The Lagos State Government says it has presented retirement benefit bond certificates worth N1.13bn to 311 public service retirees. While welcoming the retirees to the 65th retirement benefit bond presentation,  the Director- General, LASPEC, Mrs Folashade Onanuga, assured the retirees that the government’s interest in the wellbeing of the retirees was paramount. According to her, […]