Latest Nigeria Business News
Local shipowners have concluded plans to engage the Nigerian National Petroleum Corporation to discuss their participation in the downstream sector of the oil and gas industry. The President of the Shipowners Association of Nigeria, Dr Mkgeorge Onyung, who disclosed this to our correspondent on the sidelines of a maritime conference in Lagos, said, “I plan […]
AIICO Insurance Plc’s gross premiums for the year ended December 31, 2018 has grown by 17.4 per cent to N37.7 billion from N32.1 billion reported in 2017. The growth, according to the company, was predominantly driven by both of its Life and Non-life businesses. The company said the deliberate approach to risk selection, superior technical […]
Stanbic IBTC Bank has launched an Africa-China Agent Proposition (ACAP), which aims to assist importers source and validate quality goods, safely and efficiently, from the most competitive suppliers in China. The ACAP offering is expected to revolutionise African importers’ view of China’s supplier universe. It will also ease the cash flow of African importers by […]
FBNInsurance Limited, one of the leading life insurance companies in Nigeria has closed the year with positive results and also made prompt claims payments to customers despite the unpredictable economic situation in the country occasioned by preparation for the just- concluded general election, the Managing Director, FBNInsurance Limited, Mr Val Ojumah has said. He spoke […]
The Nigerian National Petroleum Corporation has discovered the illegal recycling of loading tickets used by petrol transportation trucks at depots operated by the Pipelines Products Marketing Company, a subsidiary of NNPC. It was also gathered that the national oil firm had effectively stopped the illegality, which had made it lose about N52m daily during the […]
Staff members of Oando Plc have been forced to stay away from work as policemen stormed the head office of the company on Monday morning. The Securities and Exchange Commission announced on Sunday night that it had set up an interim management team to oversee the affairs of Oando following the order that the company’s […]
The manufacturing sector recorded a decline of about N77.92bn in output in the first quarter of this year, figures obtained from the National Bureau of Statistics have revealed. An analysis of the Gross Domestic Product report prepared by the NBS revealed that the sector recorded a total output of N1.69tn as of the end of […]
Consolidated Hallmark Insurance Plc has assured its shareholders of regular dividend payment. The Chairman of the company, Obinna Ekezie, said this during the company’s annual general meeting in Lagos. He said, “We shall remain committed to our promise of regular dividend payment, God willing, having paid dividends seven financial years out of 11 of our […]
Some industry leaders in the African insurance sector and the United Nations Environment have agreed on collaborative initiatives in the region to drive economic, social and environmental sustainability. Continental Reinsurance Plc said in a statement that the UN Secretary General, Antonio Guterres, said that the work of the United Nations in peace and security, human […]
Old Mutual Limited, a pan-African insurer and global financial services group, has expressed its commitment to the Nigerian insurance market. In a statement, the group said this while celebrating its 174th anniversary of providing insurance, savings, investment, lending and banking solutions to over 11.3 million customers in 13 African countries and China. In commemoration of […]