Economy
Faces at 51st AGM of African Alliance Insurance
By Dipo Olowookere
On Tuesday, October 27, 2020, foremost underwriting firm, African Alliance Insurance Plc, held its 51st Annual General Meeting (AGM).
The event was held in line with regulatory compliance and it gave room for the board of directors to present to participants, including shareholders physically present and those who joined online, the 2019 financial statements of the company and state what should be expected in the current fiscal year.
Information gathered by Business Post indicated that shareholders of the insurance company were impressed with the strategies adopted by the board and management to deliver value to their investments and this made it easy for the resolutions presented by the board to be passed.
Some of the faces at the event were the Mrs Joyce Ojemudia, the Managing Director/CEO of African Alliance Insurance; Dr Anthony Okocha, Chairman of the company; Mrs Olabisi Adekola, Executive Director, Finance; Ms Alice Uwodi, Head, Administrative Services; Mr Steve Ajudua, General Manager, Business Development; Mr Bode Raji, Head, Finance; and Mr Sylva Ogwemoh (SAN), non-executive director.

From L-R: Sir Sunny Nwosu, National Leader Emeritus, Independent Shareholders Association of Nigeria; Engr Dr Cyril Ajagu, Core Investor; Mrs Joyce Ojemudia, Managing Director/CEO; Dr Anthony Okocha, Chairman; Mrs Olabisi Adekola, Executive Director, Finance; Barr Sylva Ogwemoh, Non-Executive Director and Chief Anthony Omojola, National Leader, Independent Shareholders Association of Nigeria at the 51st AGM of African Alliance Insurance PLC.
Others were Sir Sunny Nwosu, National Leader Emeritus, Independent Shareholders Association of Nigeria (ISHAN); Mr Anthony Omojola, National Leader of ISHAN and Mr Cyril Ajagu, a core investor.
African Alliance, incorporated in 1960, is a leading life insurer with over 20 branches and sales outlets servicing over 50,000 customers nationwide.
Over two months ago, the company was awarded the ISO 22301:2012 certificate for Business Continuity Management (BCM).
The certificate, which was awarded by the Professional Evaluation and Certification Board (PECB), signifies that African Alliance has met the requirements for BCM.
ISO 22301:2012 is a globally recognised Business Continuity management standard developed and published by the International Standards Organization (ISO).
This standard provides a model that organisations of all types and sizes can use in building an effective Business Continuity System.
ISO 22301 specifies the requirements for a management system to protect against, reduce the likelihood of and ensure a business recovers from disruptive incidents.

From L-R: Ms Alice Uwodi, Head, Administrative Services; Mr Steve Ajudua, General Manager, Business Development; Mrs Joyce Ojemudia, Managing Director/CEO; Mrs Olabisi Adekola, Executive Director, Finance and Mr Bode Raji, Head, Finance, all of African Alliance at the firm’s 51st AGM held recently.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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