Friday, September 18, 2020 Nigerian insurers’ average return on equity tumbled in 2019 It’s been clear for a number of years that insurance companies return on equity (ROE) has been waning, with the impact of deteriorating underwriting margins, combined with weak investment performance and spiralling inflation all impacting the profitability of the sector. The added…
Thursday, September 17, 2020 Foreign investors, PE firms seek 100% stake in Nigerian insurers Foreign insurers as well as private equity (PE) investors are taking stronger position in the nation’s insurance industry, with a new trend for total ownership in firms where they have equity stake. Market analysts, who have watched the trend after about…
Wednesday, September 16, 2020 Low yields push Nigerian banks to expand loan books Some Nigerian banks are aggressively looking to expand their loan books, making it a key performance indicator (KPI) for their relationship officers who are constantly reaching out to individual and corporate customers. This new push by Nigerian lenders comes despite the Covid-19…
Tuesday, September 15, 2020 BREAKING: Nigeria’s inflation rate accelerates to 13.2% in August, highest in 28 months Nigeria’s Consumer Prices Index (CPI), commonly known as inflation, accelerated by 13.22 percent in August 2020, according to data released by the National Bureau of Statistics (NBS) Tuesday morning. This marks the 12th consecutive uptrend since September 2019…
Monday, September 14, 2020 Daily Headlines Despite e-dividend payment system unclaimed dividend soars – DG SEC Harmonising a single unique identity management system and updating the details of investors are some of the ways the Nigerian capital market is solving the rising issue of unclaimed dividend, according to Lamido Yuguda, director-general, Securities and Exchange Commission (SEC).…
Friday, August 28, 2020 Logistics firms squeezed by multiple taxes in Lagos Logistics and courier firms say they are extorted by touts who claim to represent local council development areas (LCDAs) in Lagos State, alleging that this is squeezing an industry that is just beginning to gain an online traction. According to logistics players who…
Thursday, August 27, 2020 To beat dollar crunch, Nigeria’s central bank eyes special OMO for foreigners Central Bank of Nigeria (CBN) is weighing the option of creating a special Open Market Operation (OMO) auction for foreign investors with the hope that it lures in badly-needed foreign exchange, according to two sources familiar with the matter.…
Wednesday, August 26, 2020 Financial sector grew by 28.41% in Q2 on increased electronic transactions The National Bureau of Statistics (NBS) on Monday released its second quarter report for Gross Domestic Product (GDP), which is a monetary measure of the market value of all the final goods and services produced in a given period. The…
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Tuesday, August 25 , 2020 Nigeria now a quarter away from second recession in 4yrs Nigeria is now a short crawl away from another recession after the latest gross domestic product (GDP) figures released Monday showed Africa’s most populous nation recording negative growth in the second quarter (Q2) of 2020. The Nigerian economy contracted by…