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A foreign exchange crisis is looming over the economy as the Central Bank of Nigeria (CBN) suspended sales yesterday.
Nigerian banks were recently accused of aiding and abetting the spate of kidnappings and piracy in the Niger Delta and the nation's territorial waters by shielding the identities of those who own the accounts into which relatives of kidnap victims are often compelled to lodge ransom funds.
Having met all the requirement to set up an offshore office in Kenya, Continental Reinsurance Plc has commissioned its Nairobi office.
Shipping companies that quietly pay pirates' ransoms to recover crew and cargo are only spurring more hijackings, the chief executive of leading Belgian shipping company, Exmar, said.
Governor of Bornu State Senator, Ali Modu Sheriff , has promised that his government will not borrow money from any bank to execute its developmental projects, even as he promised to partner with the United Bank for Africa (UBA) Plc .
Preparatory to launching a new strategic direction for Union Assurance, the new chief executive officer, Mr. Godwin Odah has invited the staff of the company to share in his vision for the company.
Pooling contributions from hundreds of thousands of contributors, otherwise referred to as insureds, the insurance companies are thus provided with funds for which they could profitably invest. This, in very simple terms, is the relationship that should exist between the insurers and the insureds.
As global financial crisis lingers, Islamic banking is fast gaining grounds as a possible means of alleviating its impact because of its departure from pure capitalist approach to investment, a financial expert has said.
The Nigerian insurance market is characterised primarily by a pricing movement which benefits the buyer.
Against all the odds exhibited by the tying up of insurance companies' funds in the escrow accounts at the Central Bank of Nigeria, STACO Insurance Plc has remained undaunted as the company, and is busy expanding its across the nation.
Insurance PHB has concluded arrangements to introduce new products into the market this year, the company's Managing Director, Mrs. Cecilia Osipitan said.
As part of efforts to hasten the passage of the Workmen's Compensation Act, insurance operators plan strengthening ties with the legislators at the National Assembly during the current year.
The people are in the habit of criticising the insurance industry because the insurance practitioners have deviated from the fundamental principles of the business or the public are ignorant of the numerous indispensable roles of insurance in our society
CBZ Building Society has appointed Mr Collin Chimutsa as the new managing director with effect from January 5, 2009.
Chukwuma Soludo, the governor of the Central Bank of Nigeria (CBN), is probably the luckiest Nigerian to manage the bankers' bank in the world's most populous black nation. He became governor at a time when the naira had plunged to N128 to the dollar in the official market while the exchange rate at the parallel market was anything from N140. The naira appreciated to N116.50 to the dollar under ...
The Minister of Agriculture (MoA), Christiaan De Graaff, is scheduled to address the people of Ngamiland on the suspension of the Foot-and-Mouth Disease (FMD) Relief Fund on Friday.
Governor Isa Yuguda of Bauchi state, has been most unfortunately and erroneously portrayed by critics as a non-performer simply because of his penchant for trips overseas primarily to woo foreign investments to his state. Fortunately such pedestrian misconception emanating mainly from his detractors who are hell bent to pull him down at all cost and by all means appears to have been debunked as ...
A member of the Asset Verification Committee in Edo State, Matthew Urhoghide, yesterday faulted the terms of an agreement between the Osunbor administration and one of the new generation banks, where the former administration borrowed the sum of N10billion for the execution of road projects in the state.
First Bank Nigeria Plc is surcharging customers N100 for failure to use Automated Teller Machines (ATM) for withdrawals of sums below N60,000.
Shareholders of United Bank for Africa Plc at the 47th Annual General Meeting (AGM) which held yesterday in Maiduguri, Borno State, unanimously approved the final dividend of 75kobo per share and a bonus issue of 1 new share for every 4 existing shares as proposed by the board when the 2008 financial results were released.
Poet Mbizo Chirasha has written an anthology in praise of Dr Gideon Gono, the Governor of the Reserve Bank of Zimbabwe.
A renowned economist Mr. Sanusi Lamido Sanusi has formally assumed duty as the Managing Director/ Chief Executive of the First Bank Plc on January 1. He succeeded Mr. Jacobs Moyo Ajekigbe who retired from the service on December 31, 2008.
In spite of all the challenges of 2008, the bank recorded impressive growth in all its performance indices, Lucky Fiakpa writes
The year 2008 will always be remembered by the banking industry as one of those years of turmoil and crisis. Whilst there were a lot of positive development in the industry during the year, the magnitude of the crisis which gripped the industry towards the end of the year, a fall- out of the global financial crisis, overshadows the effect of the positive development.
Managing Director, Zenith Bank Plc, Mr. Jim Ovia, has called for a healthier strategic public private partnership to engender institutional building in the face of emerging challenges in the country.
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