Economy
African Alliance Begins Insurance Investment Campaign to Mark 58th Anniversary
By Dipo Olowookere
Nigeria’s foremost life Insurance company, African Alliance Insurance Plc, is celebrating its 58 years of service.
Nearly six decades ago on May 6, the insurer commenced operations and has since then stamped its authority in the industry, boasting of over 35,000 customers at the moment.
From a single branch Insurance company, African Alliance Insurance has grown to its current brand with over 18 branches across Nigeria.
The firm also recently posted encouraging results for the year ended 2017 citing a gross premium income of N6.29 billion and a 32.5 percent growth in the payout of claims from N6.56 billion in 2016 to N8.69 billion in 2017.
To celebrate its 58th anniversary, African Alliance Insurance Plc has commenced a campaign to educate the public on the value of insurance as a means of increasing and protecting wealth.
The campaign tagged MyFuture10, encourages people to set aside a minimum of 10 percent of their monthly income for investment with insurance element to take care of their future projects and protect the future of their loved ones.
Managing Director of African Alliance Insurance Plc, Mrs Funmi Omo, who also celebrated her one year anniversary as the company’s CEO having resumed in May 2017, commended the milestone achievements of the company stating that it is only the beginning of the transformation rolled out by its present management with the approval of the Board.
She said that African Alliance Insurance Plc’s strategic vision and culture of innovation has been sustained since its inception in 1960.
“We are proud of our milestone achievements, but this is only the beginning. As a financial services company with a vision of improving the quality of life in Nigeria, we realise that we cannot achieve this without technology.
“We are currently working on the complete transformation of our systems and processes to provide excellent services and relevant solutions to our customers,” she said.
She indicated that one of the company’s top priorities was establishing a sound corporate governance track record to further establish the confidence of shareholders.
“We have partnered with the foremost accounting and auditing firm, Deloitte & Touche to ensure that all remittances, policies, regulations and deadlines are strictly adhered to.
“We have also partnered with Ernst & Young for sound technical advice to better position our company. Our shareholders have complete confidence in our ability and commitment to returning value to them and to the society,” Mrs Omo added.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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