GCR Accords Financial Strength BB+(NG) Rating to Niger Insurance

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Adedapo Adesanya A Federal High Court in Lagos has set aside committal proceedings filed by Rite Foods Limited against the Nigerian Bottling Company (NBC) arising from the trademark infringement tussle between the two parties. Justice Ambrose Allagoa set aside the suit while delivering a ruling on the various motions filed and argued by the respective parties on Wednesday. Rite Foods had initiated a contempt proceeding against NBC and its management over issues bordering on alleged infringement on the Lion head trademark of its Fearless energy drink. The substantive passing-off suit was filed by the plaintiff before Justice Chukwujekwu Aneke

Are you thinking of relocating to Abuja? Then you should know the answer to the question, how much is house rent in Abuja? read this article to find out. Introduction Renting a house in Abuja can be tricky, and with the high cost of living, many potential tenants are left wondering how much is house rent in Abuja. The answer to this question is not straightforward and depends on various factors, including the area you are looking to rent and the type of property you are interested in. If you are looking for a place to rent in the city

Nigerianmusic star, Oladapo Daniel Oyebanjo, otherwise known as D’Banj, as well as moviestar, Rita Dominic, were recently spotted at the Heritage Bank stand at theIntra-Africa Trade Fair (IAFT) held in Cairo, Egypt. The duo joinedManaging Director of Heritage Bank, Mr Ifie Sekibo, for a group photograph withMr Timi Alaibe, a non-executive director of Heritage Bank and the immediatepast president of African Export-Import Bank (Afreximbank), Mr Jean-Louis Ekra.

By Dipo Olowookere General Manager of MTN, Mr Nikiwe Tsaagane, has assured the Federal Government that the leading telecommunications firm in the country will list its shares on the Nigerian Stock Exchange (NSE). The South African company, which boasts of over 60 million subscribers in Nigeria, is presently paying a fine to the Nigerian government after it failed to disconnect lines of unregistered subscribers as required. The Nigerian Communications Commission (NCC), the regulatory agency in the country, first slammed N1.04 trillion fine on the firm, but was later reduced to N330 billion. Last year, MTN suffered a loss partly due

By Dipo Olowookere Following the launch of MainOne’s Cloud Connect product and successful delivery of the Microsoft ExpressRoute service which connects large enterprises in Nigeria to Microsoft’s Azure Cloud, Microsoft has named the Nigerian tech firm as its provider for Nigeria. MainOne is West Africa’s leading communications Services Company and operator of the premier Tier III Data Centre. With this recognition, MainOne will continue to offer private, high-speed connections for customers to Microsoft Azure thus improving the performance of their enterprise applications and cloud infrastructure services. Speaking on the achievement, Chief Executive Officer of MainOne, Ms Funke Opeke, stated that

A $1.5 billion funding package has been received by the We Company (WeWork) from SoftBank Group Corporation, which was an acceleration of the existing payment obligation, approved by WeWork’s shareholders at $11.60 per share. In connection with the completion of the $1.5 billion funding from SoftBank, several governance changes became effective today, including the reconstitution of the WeWork Board of Directors. As previously announced, the $1.5 billion payment and governance changes are part of an agreement with WeWork that has now been approved by WeWork shareholders, under which SoftBank will provide significant funding to the Company. The financing package includes

By Modupe Gbadeyanka An additional N1.24 billion has been released by the Lagos State government for payment of pension entitlements of 183 public service retirees under the Contributory Pension Scheme Dispensation for the month of March 2018. Commissioner for Establishments, Training and Pensions, Dr Akintola Benson Oke, reiterated the commitment of the current administration to ensure payment of terminal benefits of retired employees of the state government. Mr Oke, at the 49th Retirement Benefit Bond Certificate presentation ceremony held on Wednesday in Ikeja, stated that 8,731 retirees had accrued pension rights of over N35 billion paid into their Retirement Savings