2020 Earnings: Niger Insurance Blames Restructuring for Delay

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your

By Adedapo Adesanya The oil market retreated on Thursday, as traders took profits after prices soared recently while the space worried that high interest rates may weigh on demand. During the trading session, Brent futures fell by $1.17 or 1.2 per cent to settle at $95.38 a barrel and the US West Texas Intermediate crude (WTI) declined by $1.97 or 2.1 per cent to close at $91.71 per barrel. The market had reached a 10-month high as some traders worried high oil prices would stoke inflation, encouraging the US Federal Reserve and other central banks to persist with rate hikes.

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to announce steps his administration was taking to obey the recent Supreme Court order on the Naira redesign. Last week, the Supreme Court extended the validity of the old N200, N500, and N1,000 notes till December 31, stating that the Central Bank of Nigeria (CBN) must continue to receive the notes from Nigerians. The court held that the President’s directive on the redesign of the new notes without due consultation is invalid. Business Post had reported that Justice John Inyang Okoro, on March 3, allowed

By Dipo Olowookere Transactions valued at N13.53 trillion have been recorded on the Treasury Single Account (TSA) operated by the federal government as at 2017. This information was disclosed by the Central Bank of Nigeria (CBN) in its 2017 Annual Activity Report released by the Banking and Payments System Department of the apex bank. Ministries, Departments and Agencies (MDAs) of federal government are mandated to make payments to the TSA to allow transparency and accountability. In the report, the central bank said the N13.53 trillion worth of transactions achieved in 2017 was 27.01 percent higher than the amount recorded in

By Adedapo Adesanya Tech and mobile accessories company, Oraimo, has launched the latest 2Baba Freepods phrased after the legendary Nigerian musician, Mr Innocent 2Baba Idibia, who is also an Oraimo brand ambassador. The momentous launch, although an online event, gathered colossal praises and applauds from the fascinated audiences across Nigeria. Surmounting all odds effortlessly, Oraimo announced that 4,000 of the new Freepods that were engineered for ultimate control were sold in just five days after the launch, granting many people the access and predilection to true wireless freedom. The massive event was anchored by famous MTV on-air personality, Ehiz, and

By Adedapo Adesanya The Naira depreciated by N1 against the Dollar at the black market segment of the foreign exchange market on Tuesday. Yesterday, the local currency fell to N474/$1 at the parallel market. On Monday, it was exchanged at N473/$1. The local currency at the same segment lost N2 against the Pound to close at N592/£1 compared to N590/£1 while against the Euro, the Naira also shed N2 to close N544/€1 from N542/€1 it previously traded. Also, at the Investors and Exporters (I&E) market on Tuesday, the local currency depreciated by N1 or 0.26 per cent against the greenback

By Modupe Gbadeyanka The 2017 appropriation bill of Akwa-Ibom State has been signed into law by Governor Udom Emmanuel. The budget is worth N371.3 billion. According to the Governor, the timely passage of the bill was a clear indication of the shared focus of development agenda between the executive and the legislature. “This budget has been christened Budget of Consolidation. Together in unity and in one accord we shall work to consolidate the gain of the previous year. “I pray this brings development, material and economic advancement, unity and growth to our people and the state,” Mr Emmanuel said. Signing

By Dipo Olowookere Holders of Greif Nigeria Plc shares have been prevented from trading the security on the floor of the Nigerian Exchange (NGX) Limited for now. The embargo on the trading of the company’s stocks was placed on Monday, June 20, 2022, to ensure the process of winding up the organisation goes seamlessly. Greif Nigeria, formerly known as Van Leer Containers Nigeria Plc, is in the business of making steel drums in the country. It also manufactures plastic containers and sheet metal products. The company, which is a subsidiary of Greif International Holding BV, also offers services for steel

By Modupe Gbadeyanka A new device specially designed for small, medium businesses in the Sub Saharan Africa has been launched by Motorola Solutions, a global leader in mission-critical communications. The new gadget, a new two-way radio device called MOTOTRBO™ DP540 two-way radio, is built for cost-conscious businesses looking to transition to digital technology for reliable and efficient communications. The compact, ruggedly-engineered device is built to withstand harsh conditions and resist corrosion even in the saltiest environments such as seaports and harbours. It boasts superior audio output and unique features, such as voice announcement customization, allowing users to customize the default