African Alliance Insurance Gets ISO 22301:2012 Certification

Image

By Adedapo Adesanya

Top insurance firm, African Alliance Insurance Plc, has been 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.

Speaking on the milestone, the underwriter’s Executive Director of Finance, Mrs Olabisi Adekola, said, “We promised our stakeholders that we would be with them for life, the achievement of the ISO certificate for Business Continuity Management further validates that promise. It is another testament to our unflinching commitment to providing our customers with the best of us come rain or shine.”

Mrs Adekola, who also doubles as the Business Continuity Management Leader, added that, “Recall that at the start of the global pandemic, African Alliance was one of the earliest to activate its Business Continuity plans which enabled us to effectively deliver on our various commitments to our esteemed customers nationwide with very little disruption”.

In his statement, the firm’s Brand, Media and Communications Manager, Mr Bankole Banjo, said “For 60 years and counting, we have navigated the murkiest of waters and survived it all. The achievement of the ISO 22301 accreditation, therefore, provides further assurance that African Alliance has a robust program in place to maintain business continuity, even under the most unforeseen and challenging conditions.”

Incorporated in 1960, African Alliance is a leading life insurer with over 20 branches and sales outlets servicing over 50,000 customers nationwide.

Share
Related Stories
Image
02-March-2024

Crude Oil Jumps 2% as Traders Sight Possible OPEC+ Cuts

By Adedapo Adesanya Crude oil appreciated by about 2 per cent on Friday as traders awaited a decision from the Organisation of the Petroleum Exporting Countries and allies (OPEC+) on supply agreements for the second quarter. Yesterday, the price of Brent futures went up by $1.64 or 2 per cent to $83.55 per barrel and the US West Texas Intermediate (WTI) futures rose by $1.71 or 2.19 per cent to $79.97 a barrel. For the week, Brent added around 2.4 per cent while WTI gained more than 4.5 per cent. Analysts noted that the expectation that OPEC+ is going to

Image
04-March-2024

Meristem Analysts Value Transcorp Power at N2.3trn

By Aduragbemi Omiyale Analysts at Meristem Research have put the value of Transcorp Power Plc at about N2.3 trillion (precisely N2.290 trillion), higher than its current value of N1.8 trillion. The power-generating firm joins the Nigerian Exchange (NGX) Limited today, Monday, March 4, 2024, by introduction. It will be the second GenCo (Generating Company) to list its shares on the domestic stock exchange. The first was Geregu Power Plc owned by Mr Femi Otedola, which joined in October 2022. Transcorp Power, a subsidiary of Transcorp Plc, a firm controlled by Mr Tony Elumelu, listed today on the bourse about 7,500,000,000

Image
02-March-2024

Naira Now N1,548.25 at Official Market, N1,560/$1 at Black Market

By Adedapo Adesanya The Naira sustained its gradual recovery against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 1, appreciating by 2.94 per cent or N46.86 to sell at N1,548.25/$1, in contrast to the N1,595.11/$1 it was traded on Thursday. Also, in the spot market, the Nigerian currency improved its value against the Pound Sterling during the trading day by N90.13 to close at N1,956.06/£1 versus the previous day’s N2,046.19/£1 and against the Euro, it gained N76.39 to trade at N1,675.25/€1, in contrast to the N1,751.64/€1 it closed a day earlier. The supply of

Image
04-March-2024

NGX Posts 3.27% W-o-W Loss, MTN Closes as Worst-Performing Stock

By Dipo Olowookere The Nigerian Exchange (NGX) Limited recorded a week-on-week loss of 3.27 per cent last week as a result of profit-taking, especially after the Central Bank of Nigeria (CBN) raised the interest rate to 22.75 per cent from 18.75 per cent to attract hot money and slow down inflation, which is almost at 30.0 per cent. MTN Nigerian ended the trading week as the worst-performing stock after it shed 18.91 per cent to N200.70, and Sunu Assurances declined by 18.18 per cent to N1.71. Nestle Nigeria also dropped 18.18 per cent to sell at N900.00, CWG fell by

More Stories
Image
29-May-2020

English Premier League to Return from June 17

By Adedapo Adesanya The English Premier League (EPL) 2019/2020 season is set to restart on June 17, 2020. The British domestic football league gave the greenlight to return under the Project Restart at a shareholders meeting. The 20 EPL clubs discussed the resumption plan, which is subject to government approval, at Thursday’s meeting on and Business Post understands that they all agreed in principle. The first game back is expected to be on June 17 with Aston Villa versus Sheffield United and Manchester City versus Arsenal before a full fixture list is played on the weekend of June 19-21. There

Image
14-January-2017

CBN Pledges Not to Devalue Naira

By Modupe Gbadeyanka Central Bank of Nigeria (CBN) has assured Bureau de Change (BDC) operators in the country it does not intend to devalue the Naira and will support it at current levels, especially with a recent rise in oil prices. President of Association of Bureau de Change Operators of Nigeria (ABCON), Mr Aminu Gwadabe, disclosed that the CBN Governor, Mr Godwin Emefiele, gave them this assurance during a meeting with him. Mr Gwadabe noted that the apex bank’s chief revealed that he was looking at ways to boost Dollar liquidity on the official market to eliminate the spread to

Image
14-August-2017

Heritage Bank, RIMAN, FDC Task Firms on Modern Risk Mgt. Practices

By Modupe Gbadeyanka Heritage Bank Plc, Risk Managers Association of Nigeria (RIMAN) and Financial Derivatives Company Limited have called on corporate organizations to adopt systemic and cultural changes to embed risk management into their organisations in a bid to manage uncertainties that may arise at any given time. This call was made at the 17th Annual Conference organized by RIMAN in partnership with Heritage Bank Plc, which was attended by eminent personalities including Oba of Lagos, Mr Rilwan Akiolu; President of the Chartered Institute of Bankers of Nigeria (CIBN), Professor Segun Ajibola; among others. CEO of Financial Derivatives Company Limited,

Image
19-April-2022

DTHA 2023 and Aspirant’s Quest for New Order

By Jerome-Mario Chijioke Utomi At the same time as Delta State has in the past six to seven years recorded what analysts refer to as ‘flashes of infrastructural developments’ mostly centred on urban and rural road constructions, reconstructions and upgrades, there exists also an accompanying fear in some quarters that right now, the state is in a period of great vulnerability. This veiled challenge is predicated on a tripod of realities: For some, the state’s legislative arm, contrary to the provisions and dictates of the principle of separation of power, has ‘notoriously’ become toothless bulldogs that neither challenge the so-called

Image
01-January-2024

Four Stocks Slice N2.76bn from NASD OTC Bourse in One Week

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange ended 0.22 per cent lower in the final trading week of 2023 (Week 52) even as there were no gainers in the three days of trading following Christmas and Boxing Day breaks last Monday and Tuesday. Geo-Fluids Plc, NASD Plc, Friesland Campina Wamco Nigeria Plc, and Central Securities Clearing Systems (CSCS) Plc recorded losses in the week, trimming the value of the exchange by N2.76 billion to N1.257 trillion from N1.259 trillion in Week 51. The market index, NASD Unlisted Securities Index (NSI), made a 2.03 points slide to wrap the

Image
06-December-2016

$30b Loan: Buhari Must Borrow To Grow Economy—Oyegun

By Modupe Gbadeyanka The plan of President Muhammadu Buhari to seek a loan of $30b loan from foreign financial institutions is still generating reactions and the latest person to talk about the issue is the National Chairman of the All Progressives Congress (APC), Mr John Odigie-Oyegun. According to the former Governor of Edo State, in order to grow the economy, which is presently ‘snoring’ in recession, the Federal Government must borrow. It would be recalled that few weeks ago, the Senate turndown the President’s request to borrow $30 billion because the executive did not state how it intends to spend

Image
25-April-2020

Bargain Hunters Raise Market Cap to N11.778trn

By Dipo Olowookere Renewed bargain hunting at the Nigerian Stock Exchange (NSE) on Friday lifted the market capitalisation by 0.57 percent. The total value of stocks on the exchange increased by N67 billion yesterday to N11.778 trillion from N11.711 trillion. Also, the All-Share Index (ASI) increased at the trading day by 128.59 basis points to 22,599.38 basis points from 22,470.79 basis points. Furthermore, the market breadth closed positive with 16 price gainers over 14 prices losers, with MTN Nigeria the biggest price gainer, appreciating by N4 to close at N104 per unit, while Cadbury Nigeria gained 55 kobo to sell

Image
04-June-2017

Business Owners Laud Ahmed over Planned 5-Year Tax Relief

By Dipo Olowookere The announcement of a planned 5-year tax relief for small businesses in Kwara State by the state government has continued to generate reactions across and outside the state. At a lecture to mark the 50th anniversary of the state in Ilorin last week, it was disclosed that Governor Ahmed Abdulfatah had directed the Chairman of Kwara State Internal Revenue Service, Mr Murtala Awodun, to coordinate the process of the tax holiday. According to Mr Ahmed, his administration took this step in order to boost entrepreneurship and eradicate poverty in the Kwara State, adding that it was also

Ad
Ad
Recent Stories
Image
05-March-2024

Investors of Unlisted Securities Lose N43bn

By Adedapo Adesanya It was a bad day for investors of unlisted securities in Nigeria as the NASD Over-the-Counter (OTC) Securities Exchange ended the first trading session of the week on a negative note with a 3.11 per cent loss triggered by four stocks on the platform. The culprits were UBN Property Plc, Aradel Holdings Plc, Central Securities Clearing System Plc, and Resourcery Plc. They were under selling pressure during the trading session. This resultantly trimmed N43 billion from the market capitalisation of the bourse to N1.449 trillion from N1.542 trillion, as the NASD Unlisted Security Index (NSI) dropped 35.53

Image
05-March-2024

Naira Value Improves at Official Market, Deflates at Parallel Market

By Adedapo Adesanya The Naira appreciated further against the greenback in the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the FX market on Monday, March 5 by N14.06 or 0.9 per cent to trade at N1,534.19/$1 compared with last Friday’s value of N1,548.25/$1. The improvement in the value of the domestic currency happened as the forex market attempts to find stability after months of turbulence due to a shortfall in the supply of Dollars into the system. Yesterday, the value of forex trades depreciated by 39.7 per cent or $117.37 million to $178.63 million from the $296.00 million recorded

Image
05-March-2024

Oil Market Falls Despite OPEC+ Cut Extension

By Adedapo Adesanya  The oil market fell slightly on Monday, as demand headwinds outweighed a widely expected extension of voluntary output cuts through the middle of the year by the Organization of the Petroleum Exporting Countries and its allies (OPEC+). Brent futures dropped 81 cents to quote at $82.74 a barrel while the US West Texas Intermediate (WTI) weakened by $1.22 to trade at $78.75 a barrel. The OPEC+ producers agreed over the weekend to extend their voluntary oil output cuts of 2.2 million barrels per day into the second quarter to cushion the market amid global economic concerns and

Image
05-March-2024

Investors Mop up Nigerian Stocks on Economic Optimism

By Dipo Olowookere The Nigerian Exchange (NGX) Limited witnessed a 0.10 per cent growth on Monday amid optimism that the trip of President Bola Tinubu to Qatar over the weekend will yield positive results. At the Nigeria-Qatar Business and Investment Forum in Doha, Mr Tinubu assured Qatari investors that they would not face any bottleneck while attempting to repatriate their funds. This assurance was welcomed by stock investors, who saw light at the end of the tunnel for the nation’s economy, which is currently suffering because of the shortage in the supply of foreign exchange (FX) into the market. Since

Image
04-March-2024

UK Announces £37.3m to Boost Livelihoods in Nigeria, Others

By Adedapo Adesanya The United Kingdom has announced new funding for the Mobile for Development Programme to help more people access mobile and digital technologies to find new opportunities and boost their livelihoods in Nigeria and other developing countries. UK’s Minister for Development and Africa, Mr Andrew Mitchell MP, during a speech at Mobile World Congress last week, announced that the UK is providing £37.3 million of new support for the Mobile for Development Programme. The new UK funding for innovative mobile phone technology will help change lives in developing countries around the world by harnessing AI technology to provide

Image
04-March-2024

Newly-Listed Transcorp Power Targets N500bn Revenue by 2031

By Adedapo Adesanya The latest company to join the Nigerian Exchange (NGX) Limited, Transcorp Power Plc, has announced a revenue target of N500 billion by 2031, tapping opportunities in the capital market and sustainable energy. This was disclosed by the Managing Director of the firm, Mr Peter Ikenga, during the Facts Behind the Listing held at bourse on Monday. The firm, owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu, listed its stocks on the Main Board of the nation’s flagship exchange by introduction. It listed 7,500,000,000 ordinary shares of 50 Kobo each at N240.00 per share. Speaking

Image
04-March-2024

DisCos Must Promptly Respond to Customers’ Complaints—FCCPC

By Aduragbemi Omiyale Electricity distribution companies (DisCos) in the country have been charged to respond to customers’ complaints quickly for better service delivery. This task was given to the energy firms by the Federal Competition and Consumer Protection Commission (FCCPC), which said the companies must design a quick response mechanism to address issues from their customers. Speaking last Saturday at a four-day one-stop-shop for addressing billing, metering, transformer, connection, disconnection, customer service and other electricity consumer issues in Ikeja Electric coverage areas, the acting executive chairman of FCCPC, Mr Adamu Abdullahi, said the highest number of complaints received by the

Image
04-March-2024

Omokungbe Wants Implementation of Initiatives on Women’s Entrepreneurship

By Aduragbemi Omiyale A former Rector of Yaba College of Technology (YabaTech), Lagos, Mr Obafemi Omokungbe, has called for the implementation of programmes and initiatives designed to promote women’s entrepreneurship in Africa. Speaking at the just-concluded 10th anniversary of the African Women Foundation for Nation Building (WINBAFRICA) in Lagos, Mr Omokungbe, a fellow of the Nigerian Society of Engineers (NSE), also appealed to African countries to renew their commitment to women’s empowerment, saying it is a crucial step towards nation-building. According to him, the journey toward women’s empowerment in Africa involves a comprehensive approach that spans various sectors, including education,

Image
04-March-2024

NGX Group Declares 75 Kobo Final Dividend Amid 57.4% Surge in FY’23 Earnings

By Aduragbemi Omiyale A final dividend of N1.5 billion, amounting to 75 Kobo per share has been declared by the board of the Nigerian Exchange (NGX) Group Plc for the 2023 financial year. This brings to N1 the total dividend to be paid by the company after paying 25 Kobo (N495.5 million) as interim dividend at mid-year. In its audited financial statements for the year ended December 31, 2023, the NGX Group said its gross earnings increased by 57.4 per cent to N11.8 billion in FY 2023 from N7.5 billion in FY 2022 because its performances in core revenue and

Image
04-March-2024

Red Line Rail: Labour Party Demands Value for Money

By Aduragbemi Omiyale The Lagos State chapter of the Labour Party has tasked Governor Babajide Sanwo-Olu to ensure the recently commissioned Red Line Rail does not turn out to be another failure due to poor maintenance culture. In a statement by its Publicity Secretary, Mrs Olubunmi Odesanya, the opposition party appealed to the state government to ensure its sustainability. While greeting residents of the metropolis on the project, which was commissioned last Tuesday by President Bola Tinubu, the Labour Party faulted the timing of its completion, saying the ruling All Progressives Congress (APC) ought to have put the initiative in