Category: Business

Nigerian, Moroccan stockbrokers sign MoU on inter-connectivity

By Peter Egwuatu In a strategic move to establish a seamless relationship between the Nigerian Stock Exchange (NSE) and its Casablanca counterpart, the two exchanges’ operators, under the aegis of Association of Stockbroking Houses of Nigeria (ASHON) and Association Professionnelle des Sociétés de Bourse (APSB) of Morocco have signed Memorandum of Understanding (MoU). The MOU

Stakeholders oppose 1% contribution to navy from NIMASA’s funds

By Godfrey Bivbere Stakeholders in the Nigerian maritime industry have opposed moves by the Nigerian Navy seeking amendment to the Nigerian Maritime Administration and Safety, NIMASA, Act which would require NIMASA to contribute one percent of its revenue to the Nigerian Navy. At a one-day public hearing at the House of Representatives on Monday, President,

Nigerian Breweries, Guinness: Weak financials repulse analysts

… But investors’ sentiments appear stable for Guinness By Emeka Anaeto, Business Editor Nigerian Breweries Plc (NB) and Guinness Nigeria Plc, are among the leading multinationals in the Nigerian Stock Exchange, but their stocks and recently their financial performance are no longer in leading positions. From L-R: Mr. Johan A. Doyer, MD/CEO NB Plc &

Insurers seek additional capital in preparation for RBS

By Rosemary Onuoha Insurance firms with inadequate shareholders’ funds have commenced moves to raise additional capital in preparation for the next phase of implementation of the Risk Based Supervision (RBS) by the National Insurance Commission, NAICOM. NAICOM plans to move to the next phase of implementation of the RBS which is determining the capital requirements

Bank fine-tunes Esusu, micro savings scheme

By Providence Emmanuel Over the years, thrift collection, popularly called Esusu, Ajo or Adashe” in some Nigeria local languages was being done at a micro level. Individual men and women who were operating the business go to homes, markets and wherever they can find people to save money with them. At the end of the

Law Union pays N1.25bn claims in 9 months

By Cynthia Alo Law Union & Rock Insurance Plc, has paid over N1.25 billion claims from January to September this year. Managing Director, Jide Orimolade, disclosed this at a media parley in Lagos. He said that the firm has reviewed its claims processes to ensure that claims payment is done within a short time and

Ecobank unveils promo on Rapid Transfer Payments

Ecobank Nigeria has announced a one per cent (1%) fee on all Rapid Transfer payments via the Ecobank Mobile app from now through December 31, 2017. This promotion is designed to support citizens who have need to send money to loved ones across Africa during this festive season. Announcing this end of year promo in