Business

Commissioner for Insurance, Mohammed Kari, has rated the country’s insurance sector as the weakest link in the Nigerian economy owing to its low capital base. Kari, who spoke on the sideline of the 2018 Insurance Education of the Chartered Insurance Institute of Nigeria (CIIN) held in Ibadan, said the development…

The Enugu Electricity Distribution PLC (EEDC) joined the rest of the world to commemorate this year’s edition of GIS (Geographic Information System) Day. The event, was observed on Wednesday, November 14, 2018 is an annual affair celebrating the technology of geographic information systems. It was initiated by spatial analytics world-leader…

Electricity Distribution Companies (Discos) have been accused of deliberately capping their monthly revenue remittances and keeping more money for themselves. The Nigerian Electricity Regulatory Commission (NERC) made the accusations, even as President Muhammadu Buhari has rejected its request to buy brand new Sports Utility Vehicles (SUVs) for its chairman and…

Cyber security experts have concluded that threat intelligence should be a priority for every organisation. The experts said this in the latest report Threat Intelligence: Far-fetched Idea or Must-have Security Tactic? released by Mimecast Limited, a leading email and data security company,. The report, which was announced recently, according to…

The National Insurance Commission (NAICOM) is set to release a new insurance distribution channel guidelines for operators of insurance business in the country come January. The guidelines which is known as the State Insurance Producers (SIP), according to the commission is in furtherance of its policy to diversify insurance distribution…

The Federal Government has been given till December, 2018, for all processes leading to the implementation of the new minimum wage to be completed. Organised said who gave the deadline, vowed it would not accept anything less than the N30,000 recommended by the Tripartite Committee to President Muhammadu Buhari. According…

Nigeria’s oil production is expected to hit 1.8 million barrels per day next year, the Nigeria National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said yesterday, even as he also said, the country will also raise condensate production to 0.5 million bpd, according to Reuters. Nigeria produces 1.6 million…

Law enforcement agencies’ investigations of the defunct Skye bank’s directors and management are being monitored by the Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN). The Managing Director and Chief Executive of NDIC, Umaru Ibrahim, who made this known said the move is to determine their…

There are no plans to review power sector privatisation, the senate has said,The Guardian ha said. Speaking through its Chairman, Senate Committee on Power, Steel Development and Metallurgy, Senator Enyinnaya Abaribe, it said “Privatisation is a step in the right direction for developing the power sector, but the challenges make…

Talks have reached an advance stage for the acquisition of Diamond Bank by Access Bank. The Nation gathered that all things being equal, Diamond Bank portfolio in few months will be taken over by Access Bank. Quoting sources close to the deal, the paper said talks on the acquisition are…