The National Insurance Commission (NAICOM) has advised insurance customers not to do risk underwriting business with unlicensed operators in the insurance industry as well as allot proportion of risk to local underwriters without taking due cognisance of the insurers’ capacity. The commissioner for Insurance, Mohammed Kari, who gave the advice during a chat with media […]
Author: brtnews
UBA Links Improved Results To Cost Control, Other Measures
The Group Chief Finance Officer of the United Bank for Africa, Mr. Ugo Nwaghodoh, has linked the bank’s improved performance in the 2017 financial year to strong control on cost of funding as well as prudent balance sheet management, among other measures. The GCFO gave this hint during an interactive session with journalists in Lagos. […]
World Bank flags off ESF workshop on new projects in Nigeria
The World Bank today flagged off a workshop on its Environmental and Social Framework (ESF) in Abuja. The workshop was organised as part of the bank’s efforts to create understanding of the environmental and social requirements it would be applying to new projects it will be financing in the country effective from October this year. […]
Heritage Bank, WATIF partner on sub-regional integration agenda
Heritage Bank Limited has partnered with the first edition of West Africa Trade and Investment Forum (WATIF) on sub-regional integration of economies of West African countries in the areas of agriculture, education and skills, manufacturing and information communication technology (ICT). A statement by the bank’s Divisional Head, Corporate Communications, Fela Ibidapo, quoted the Group Head, […]
Reps Oppose Ajaokuta Steel Firm’s Concession, Seek Project’s Completion
The House of Representatives on Wednesday adopted two bills seeking to prevent the concessioning of Ajaokuta steel company by the Executive and voted for the completion of the multi-billion Naira comatose plant. The bills namely, ‘An Act To Provide For The Ajaokuta Steel Company Completion Fund’ and ‘A Bill For An Act To Amend The Public Enterprise […]
NIMASA Debunks Maritime Domain Security Contract Bribery Allegation
The Nigerian Maritime Administration and Safety Agency (NIMASA) has refuted a trending story in some media alleging the involvement of the organization and Federal Ministry of Transportation (FMOT), in a bribery scandal over a $429 million maritime domain security contract with an Israeli company. A statement issued by the Authority’s Head, Corporate Communications, Mr Isichei […]
UBA Elevates Over 2,000 Employees To Higher Positions
Barely a week after announcing major improvements in its 2017 financial year’s operations, the United Bank for Africa (UBA) Plc, today announced the promotion of about 2,000 employees, representing about 17% of the total workforce in the group. The initiative, according to the management, is in recognition of the remarkable contributions the affected employees have […]
Unity Bank Restates Position On Milost’s $1bn Investment
Unity Bank Plc’s management has reiterated the bank’s position that it had not received $1 billion investment from Milost Global Inc. According to the bank, the clarification became imperative in view of trending rumours in some sections of the media pertaining to Milost’s interest to invest in the bank. The management pointed out that the […]
VAIDS Deadline Expiration: FG May Auction Tax Defaulters’ Assets
There are strong indications that the Federal Government may auction properties and other assets of individual and corporate tax defaulters anytime from now for failure to declare or pay taxes on such assets as required under the Voluntary Assets and Income Declaration Scheme (VAIDS). The deadline set by the scheme for assets and income owners […]
FG, Others Share N647.39bn, NNPC Accounts For Reconciliation
The Federation Accounts Allocation Committee (FAAC) rose from its meeting held in Abuja today with total revenue distributions from the Federation Account to the three tiers of government totalling N647.39 billion for the month of February. The Minister of Finance, Mrs. Kemi Adeosun, who is also the Chairman of the committee, told journalists at the […]