Banking Budgeting Insurance & Pension Investments/Capital Market Latest News Planning & Economic Development Revenue Technology

NDIC To Pay Depositors Of Defunct Peak Merchant Bank

The Nigeria Deposit Insurance Corporation (NDIC), has alerted depositors and ex-staff (deposits) of defunct Peak Merchant Bank of its preparations to pay their first liquidation dividend. A press statement signed by the corporation’s Director, Communication and Public Affairs, Bashir Nuhu, indicated all affected depositors of the bank and former employees with deposits in the bank […]

Banking Budgeting Insurance & Pension Labour & Industiral Relations Matters Latest News Planning & Economic Development Professionals & HR Devt. Revenue

PTAD Settles N846.1Mn Pensioners’ Accrued Arrears, Gratuities

The Pension Transitional Arrangement Directorate (PTAD) at the weekend stated that it had paid N846,146,987.71 to 2,730 pensioners of the Civil Service Pension Department as accrued arrears and gratuity owed them over the past years. The agency made this disclosure in a statement signed by its Head, Corporate Communications Department, Mr. Olugbenga Ajayi, on Friday. […]

Budgeting Housing & Real Estate Insurance & Pension Latest News National Assembly Planning & Economic Development Political Economy Revenue Statistics

Reps Summon 54 Insurance Firms’ CEOs Over Unremitted N267Bn

The House of Representatives Ad-hoc committee investigating non-remittance to the National Housing Fund (NHF) and utilization of the funds from 2011 has summoned the Chief Executive Officers (CEOs) of the affected 54 insurance companies to make clarification over the alleged non-remittance of N267 billion into the funds, particularly for fiscal 2019 year, The Chairman of […]

Banking Budgeting Insurance & Pension Latest News Planning & Economic Development Political Economy Statistics

NDIC Begins Disposal Of Liquidated MFBs, DMBs’ Assets

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the sale of assets belonging to 183 liquidated financial institutions to pay depositors following the revocation of their licences by the Central Bank of Nigeria (CBN). The Corporation stated that the assets of the assets on the 179 Microfinance Banks (MfBs) and the four Primary Mortgage Banks […]

Budgeting Environment Insurance & Pension Latest News Maritime Planning & Economic Development Political Economy Statistics Transportation Water

Catastrophe Bond Market Surges To New Heights In Q2 2023

A new quarterly report from Artemis, an ILS-focused publication, has indicated a huge $7.1 billion of catastrophe bond and related insurance-linked securities (ILS) issuance in the second-quarter of 2023, raising the H1 2023 issuance to a record of more than $10.3 billion. According to the latest data from the just published Artemis Deal Directory, the Q2 […]

Budgeting Insurance & Pension Investments/Capital Market Latest News Planning & Economic Development Political Economy Revenue

Coronation Insurance Notifies NGX On De-listment Plans

Coronation Insurance Plc has announced plans to delist from NGX following an offer from Coronation Capital (Mauritius) Limited to acquire shares of the company at 65 kobo per share. In a Proposed Share Acquisition notice to the Nigerian Exchange Limited (NGX) and the investment community signed by Mary Agha, the Company Secretary, the offer price has […]

Accounting & Financial Reports Banking Budgeting Insurance & Pension Latest News Planning & Economic Development Revenue

Nigerian Insurers’ Premium Growth Hits N726.2Bn In 2022

The Nigerian Insurers Association (NIA) reported on Tuesday that the nation’s insurance sector recorded  33.9% surge in premium volume in financial year 2022, posting N726.2 billion growth compared to the N569.1 billion premium income recorded in 2021 The NIA Chairman, Mr. Olusegun Omosehin, made this disclosure during the association’s 52nd Annual General Meeting (AGM) held […]

Agriculture & Agribusiness Banking Budgeting Insurance & Pension Latest News Manufacturing Planning & Economic Development Revenue Statistics Technology

World MSME Day – SMEDAN, Casava Insurance Launch ‘Business Gro’ For MSMEs

As part of its programmes for the World MSMEs Day 2023, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has partnered Casava Insurance, a risk underwriting company with special focus on agribusiness, to facilitate voluntary registration and certification of MSMEs under SMEDAN and provide valuable support services for registered MSMEs in the country. […]

Budgeting Insurance & Pension Labour & Industiral Relations Matters Latest News Planning & Economic Development Power/Electricity Professionals & HR Devt. Revenue

BPE Announces New Dates For Ex-PHCN Employees’ Verification

The Bureau of Public Enterprises (BPE) on Tuesday announced a change in dates for the verification of ex-staff of the Power Holding Company of Nigeria (PHCN) and the certified Next-of-Kin (NOK) of the deceased ex-staff who were in service between July 1, 2012 and October 31, 2013, scheduled for Monday, May 15, 2023, to Saturday, September […]

Budgeting Economy News Extra Health & Environment Insurance & Pension Latest News Planning & Economic Development Political Economy Technology

UNEP Canvasses Partnership With Re-Insurers On Climate Change

The United Nations Environment Programme (UNEP) has harped on a “fundamental and urgent” need for collaboration with the global insurance industry to successfully tackle the climate emergency. The agency’s call came amid concerns about major re-insurers withdrawal from the global Net-Zero Insurance Alliance (NZIA). Earlier this week, another leading re-insurance the Swiss Re, announced its […]