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, September 11, 2020 FG inaugurates N75bn SMEs COVID-19 stimulus schemes The Federal Government on Thursday flagged off two schemes to financially support about 1.7 million micro, small and medium enterprises across the country with N75bn. At a briefing on the flag-off of the National MSME Survival Fund…read more. Naira plunges, exchanges for N440/$ The…
Thursday, September 10, 2020 Pipeline repairs cost NNPC N41.98bn in six months The Nigerian National Petroleum Corporation has said it spent a total of N41.98bn on pipeline repairs and management cost in the first half of this year. The NNPC disclosed this in its latest monthly oil report, saying…read more. Nigeria borrowed N18.89tn under Buhari…
Wednesday, September 09, 2020 Meter manufacturers urge review of import levies as patronage drops The Electricity Meter Manufacturers Association of Nigeria (EMMAN), has appealed to the Federal Government to review its decision on one-year deferment of the 35 per cent import levy on electricity meters in order to promote local content in the manufacturing of…
Tuesday, September 08, 2020 Updated: Business leaders, others oppose bill to give CBN governor immunity Leaders in Nigeria’s private sector have risen against a controversial bill that aims to give the Central Bank of Nigeria (CBN) governor more powers, including immunity from third-party lawsuits. The Bill, which has been passed by the National Assembly but…
Monday, September 07, 2020 FG increases efforts to grow insurance premium to N1 trillion You took over as Acting Commissioner for Insurance in August 2019, before you were formerly confirmed as substantive Commissioner. During this period, you moved fast with getting activities started…read more. Revving up diversification to overcome post COVID-19 challenges The impact of…