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Insurance firms get 13-month ultimatum for recapitalisation

The National Insurance Commission (NAICOM) has gaven insurance companies a 13-month ultimatum to recapitalise or lose their licences. The ultimatum, which became effective from yesterday, raised the minimum paid-up share capital of a Life insurance...
MTN shares list at NSE

MTN shares list today at NSE

MTN Nigeria Communications Plc has secured the requisite regulatory approval to list its shares on the Nigerian Stock Exchange (NSE) today. In a statement, the telco said it is “pleased to announce that it has...

Analysts declare Jumia a “fraud” sinking its share price

A US Based online investment Newsletter, Citron Research, has declared E-commerce giant Jumia shares as worthless and that they had never “seen such an obvious fraud”. Jumia share price was down by over 18%...

Update: Emefiele re-appointed to govern CBN for another five years

President Muhammadu Buhari has re-appointed Mr. Godwin Emefiele as Central Bank of Nigeria(CBN) governor for another five years. Senate President Bukola Saraki read the presidential communication seeking the confirmation of Emefiele for another term of...

Lagos Oriental Hotel owners react to reports of planned sale, leaving Nigeria

Owners of popular Lagos Oriental Hotel have confirmed that it is divesting its investment in the business. The company, Western Metal Products Company (WEMPCO) made this known in a Tuesday statement. However, WEMPCO debunked reports that...

Nigerian Financial Intelligence Unit sets new rules, denies Governors access to LG funds

The newly inaugurated Nigerian Financial Intelligence Unit (NFIU), yesterday, banned banks, Governors,  public officers, and other financial institutions/stakeholders from tampering with the statutory allocations of Local Government Areas from the Federation Account. This move is contained in a notice that...

Recession comment: Buhari Media Organisation replies Gov Yari

The Buhari Media Organisation has reacted to a statement credited to the Abdulaziz Yari, Governor of Zamfara State, who advised that governors should brace up for another economic recession, during a meeting of the...

DPR bans sale of cooking gas in shops, homes

The Deprtment for Petrolium Resources said it would clamp down on illicit retailers of Liquefied Petroleum Gas (LPG) popularly known as cooking gas in Rivers. DPR’s Port Harcourt Zone Operations’ Controller, Mr Bassey Nkanga, told...

Diamond Bank shares placed on full suspension – NSE

The Nigerian Stock Exchange has said the ongoing merger scheme between Access Bank Plc and Diamond Bank Plc would result in the delisting of Diamond Bank from the daily official list of the Exchange. The...

Senate approves N30,000 minimum wage

The Senate on Tuesday approved N30, 000 as the new national minimum wage with an appeal to the Federal Government to start the implementation immediately to prevent the organised labour from embarking on strike...

Nigeria still as corrupt as before – Transparency International

Nigeria is still perceived as a country deep in corruption without clear policies to address the menace, Transparency International said on Tuesday. The anti-corruption campaigner released its 2018 Corruptions Perceptions Index (CPI) Tuesday, finding Nigeria...

World Bank president steps down, to focus on infrastructure investments

The World Bank Group president, Jim Yong Kim, on Monday announced he would be stepping down from his position effective February 1. Mr Kim’s announcement is coming more than three years ahead of the end...

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