The United States’ cumulative insured property losses last year have been estimated to be over $68 billion in 2020, as 19 catastrophe events with each leading to more than $1 billion in claims hit the country during the year. A news report by artemis.bm, a research firm specialising in catastrophe bonds, insurance linked securities, reinsurance […]
The Federal Government has assured prospective power investors that the five National Integrated Power Plants (NIPPs) put up for sale will go on as planned in furtherance of its efforts to boost power supply nationwide The five NIPP plants planned for sale are Benin Generation Company Limited at Ihovba, Edo State, Calabar Generation Company Limited, […]
Nigeria Securities and Exchange Commission (SEC) has commenced moves towards the implementation of a framework to strengthen interconnectivity and interoperability among the Central Securities Depositories (CSDs) with a view to enhancing trading and settlement system efficiency in the nation’s bourse. The Commission in a Notice titled: “Interoperability among Central Securities Depositories: Proposed Interoperability/FMI Link Framework”, […]
China’s biggest ride-hailer, Didi Global Inc, on Wednesday raised $4.4 billion by pricing its shares at $14 each in its upsized New York initial public offering (IPO), according to public filings According to Dealogic, a financial markets platform offering integrated content, analytics, and technology via a service to financial firms, with the raising of about […]
In what seems to be a reflection of the realities on ground on the ongoing NIN-SIM verification exercise, the Federal Government has approved July 26, 2021as the new deadline for the completion of the exercise nationwide. The Director, Public Affairs Nigerian Communications Commission (NCC), Ikechukwu Adinde and the Head, Corporate Communications, Nigeria Identity Management Commission […]
A Federal High Court in Lagos presided over by Justice T.G Ringim has fixed the hearing of a motion seeking the final forfeiture of the $5.78m and N2.4bn linked to former First Lady, Mrs. Patience Jonathan for October 7 this year. It would be recalled that Justice Mojisola Olatoregun had on April 26, 2017, ordered […]
The House of Representatives’ Joint Committee on Finance, Banking and Currency on Monday held its inaugural hearing on alleged revenue leakages from the Federation Account estimated at about $30bn yearly relating to transfer of funds for payment of international contracts and interbank transfers, among others. The committee, co-chaired by Honourables James Faleke and Victor Nwokolo, […]
The Nigerian National Petroleum Corporation (NNPC) on Tuesday said that its planned acquisition of 20 per cent stake in the $12 billion Dangote Refinery would be funded through borrowing The corporation’s Group Managing Director, Mallam Mele Kyari, who gave this hint during an interview with Channels Television, said that already negotiations were ongoing with some […]
UNITLIFE, the United Nations trust fund dedicated to preventing chronic malnutrition, was officially launched on the sidelines of the Generation Equality Forum held on Monday in France. The global programme created by UN Women, UN Capital Development Fund (UNCDF), Government of France, and the Abu Dhabi Crown Prince Court leverages innovative finance and partnerships to […]
The World Bank on Tuesday raised its China’s economic growth forecast this year to 8.5% from 8.1%, hinging the attainment of the projection and country’s full recovery on progress in vaccinations against the coronavirus pandemic The Breton Woods institution in its report noted that factory and consumer activities in the country back above pre-outbreak levels, […]