Why Stakeholders Raise Alarm Over Acquisition of OASIS Insurance by FBNH Why Stakeholders Raise Alarm Over  Acquisition of OASIS Insurance by FBNH

Why Stakeholders Raise Alarm Over Acquisition of OASIS Insurance by FBNH

On July 14, 2014 FBN Assurance closed application bid for the takeover of OASIS Insurance, which opened on June 23, 2014. This was sequel to the application to shareholders of Oasis Insurance at the close of business on June 20, 2014.   This was a build up to the recent announcement by FBN Life Ltd [...]

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Brokers Lament over Regulatory Directives Brokers Lament  over Regulatory  Directives

Brokers Lament over Regulatory Directives

Insurance brokers, the intermediary arm of the industry, are lamenting hard times just as the regulatory authority has told its members to make declaration of their accounts on monthly basis.   Besides that, they also expressed concern that increasing incidents of lapsing broker’s license over certain offences was rather inimical to the overall growth of [...]

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Niger Insurance Pays N3.50k as Dividend Niger Insurance Pays N3.50k as Dividend

Niger Insurance Pays N3.50k as Dividend

The Niger Insurance Plc will pay N3.5k per 50k ordinary share as dividend for the financial year ended December 31, 2013, company’s Managing Director, Kolapo Adedeji, said at the company’s Pre-Annual General Meeting (AGM) news conference in Lagos.   According to him, the dividend will be paid to the shareholders once their AGM to be [...]

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FIRS Cautions Nicon, Insurance Officials over N90m Tax Debts FIRS Cautions Nicon, Insurance  Officials over N90m Tax Debts

FIRS Cautions Nicon, Insurance Officials over N90m Tax Debts

The Federal Inland Revenue Service (FIRS) had carried out enforcement activities on Nicon Luxury Hotel and Nicon Insurance limited for alleged failure to remit more than N90 million outstanding tax liabilities due to the government.   The officials are currently held and being interrogated by the officials of the FIRS Special Investigation and Enforcement Unit. [...]

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News

THE FACE OF RAUF IN OSUN

THE FACE OF RAUF IN OSUN

Story by Ray Echebiri. The Face of Rauf was meant to be a social media expose which unfortunately could not see the light of the day. We had observed as far back as 2012 that Rauf’s government has brought smiles onto the faces of the majority of the people of Osun. We created a social [...]

Jul 29, 2014 14:52

IT

Microsoft Experiences Bleak Q4

Microsoft  Experiences  Bleak Q4

Microsoft reported fourth quarter earnings of $4.61 billion, or 55 cents a share, on revenue of $23.38 billion.   However, Nokia’s device business contributed revenue of $1.99 billion in the fourth quarter, but an operating loss of $692 million. Excluding that 8 cents a share hit would give Microsoft earnings of 63 cents a share [...]

Jul 28, 2014 11:06

Money World

CBN Signs N220bn MoU with State over SMEs

CBN Signs N220bn MoU with State over SMEs

  By Tope Aluko   The Central Bank of Nigeria, CBN has signed a Memorandum of Understanding, MoU, with the 36 state governors for a N220 billion micro and macro development fund for the Small Scale Enterprises, SMEs, across the country.   The scheme is to fast-track the actualization of the Millennium Development Goals and [...]

Jul 30, 2014 10:33

Economy

Auldon Urges Entrepreneurs to Utilise Micro-credit Fund

Auldon Urges Entrepreneurs to Utilise Micro-credit Fund

Mr. Paul Orajiaka, chief executive officer, Auldon Limited, has called on entrepreneurs and artisans, especially those trained by the Lagos State government to take advantage of the state’s micro credit fund so as to grow their business and to create employment.   He made this known while speaking at the 2nd annual, Lagos State Enterprise [...]

Jul 28, 2014 10:46

Recent Articles

Why Stakeholders Raise Alarm Over Acquisition of OASIS Insurance by FBNH

Why Stakeholders Raise Alarm Over  Acquisition of OASIS Insurance by FBNH

On July 14, 2014 FBN Assurance closed application bid for the takeover of OASIS Insurance, which opened on June 23, 2014. This was sequel to the application to shareholders of Oasis Insurance at the close of business on June 20, 2014.   This was a build up to the recent announcement by FBN Life Ltd [...]

Brokers Lament over Regulatory Directives

Brokers Lament  over Regulatory  Directives

Insurance brokers, the intermediary arm of the industry, are lamenting hard times just as the regulatory authority has told its members to make declaration of their accounts on monthly basis.   Besides that, they also expressed concern that increasing incidents of lapsing broker’s license over certain offences was rather inimical to the overall growth of [...]

Niger Insurance Pays N3.50k as Dividend

Niger Insurance Pays N3.50k as Dividend

The Niger Insurance Plc will pay N3.5k per 50k ordinary share as dividend for the financial year ended December 31, 2013, company’s Managing Director, Kolapo Adedeji, said at the company’s Pre-Annual General Meeting (AGM) news conference in Lagos.   According to him, the dividend will be paid to the shareholders once their AGM to be [...]

FIRS Cautions Nicon, Insurance Officials over N90m Tax Debts

FIRS Cautions Nicon, Insurance  Officials over N90m Tax Debts

The Federal Inland Revenue Service (FIRS) had carried out enforcement activities on Nicon Luxury Hotel and Nicon Insurance limited for alleged failure to remit more than N90 million outstanding tax liabilities due to the government.   The officials are currently held and being interrogated by the officials of the FIRS Special Investigation and Enforcement Unit. [...]

Ogun Enlightens CDA Members on Insurance Scheme

Ogun Enlightens CDA Members on Insurance Scheme

Over 11,000 Community Development Association (CDA) members have been sensitized on Community Based Health Insurance Scheme (CBHIS) to enable them educate other members of their community on the importance of participating in the scheme.   The programme, which involves state and Local Governments, will result in a accelerated upgrading of Primary Healthcare Centers (PHCs).   [...]

Corporate Governance, Policy To Determine Pension Fund Investment…Experts

Corporate Governance, Policy To Determine Pension Fund Investment…Experts

Experts at the just concluded World Pension Summit in Abuja have ruled that policy consistency and corporate governance play critical role in deciding where pension funds would be invested.   Mr. Misbahu Yola, Chairman, Pension Fund Operators Association of Nigeria (PenOp), while speaking at the event said the government should provide infrastructure, and also play [...]

Oyo/Oshun Retirees Protest None Payment Of Pension

Oyo/Oshun Retirees  Protest None  Payment Of Pension

Retirees from the Osun and Oyo States Civil Service are protesting the neglect by the state governments as well as the Fedeeral government over the nonpayment of their pension.   Speaking under the support of the Association of Retired Heads Of Service and Permanent Secretaries in Osun and Oyo states said their pensions are being [...]

Naicom’s Assists Claim Payment in Q2 2014 Peaks at N128m

Naicom’s Assists Claim Payment  in Q2 2014 Peaks at N128m

Stories by Temitope Aluko   The National Insurance Commission (Naicom) has stated that through its intervention, it has been able to facilitate the payment of N128 million insurance claims between January and June in the year.   In a statement released on Naicom’s website, the commission stress that, it has received eighty three complains in [...]

Keystone Bank to Sell Subsidiaries to Three African Countries

Keystone Bank to Sell Subsidiaries to Three African Countries

Story By By Niyi Jacobs   Keystone Bank Limited has unveiled plans to sell its subsidiaries in three African countries due to capitalization challenges confronting the institutions. The countries are Uganda, Sierra Leone and Liberia.   Mr. Philip Ikeazor, Managing Director/Chief Executive Officer, Keystone Bank, revealed this during a media parley with journalists in Lagos. [...]

‘Economic Growth Depends On Power, Auto Sectors’

‘Economic Growth Depends On Power, Auto Sectors’

Agusto & Co, Nigeria-based pan-African rating agency and research firm, says real estate, power, automobile, dairy and poultry sectors will be key drivers of economic growth and job creation over the next decade.   Agusto & Co, in its 2014 industry report, highlighted several challenges facing different sectors of the economy as well as investment [...]

‘Ecobank, Others Have Boosted Growth’

‘Ecobank, Others Have Boosted Growth’

Mr. Babatunde Fashola, Lagos State Governor, says Deposit Money Banks, including Ecobank as well as other businesses have contributed to the development of the state. He said this at the unveiling of Premier Banking by Ecobank in Lagos. He said operations of these businesses had helped to make the state a ‘Centre of Excellence’ and [...]

Oguntayo Becomes Skye Bank CEO

Oguntayo Becomes Skye Bank CEO

Mr. Timothy Oguntayo, has officially become the new Group Managing Director/Chief Executive Officer (GMD/CEO) of Skye Bank Plc.   Speaking at a handing over ceremony in Lagos, Durosinmi-Etti the former GMD/CEO said the event demonstrated the existence of sound corporate governance in the bank which makes succession seamless and rancor-free.   He said having served [...]

Bank of England, Businesses Clash Over Rate Rise

Bank of England,  Businesses Clash  Over Rate Rise

Bank of England officials are still concerned by the UK economy’s weakness while business leaders have urged that the “time has come” to raise rates.   According to the British Broadcasting Corporation, the nine members of the Monetary Policy Committee voted to keep rates at 0.5 per cent, as expected.   They agreed that while [...]