The Oyo State government has asked for the intervention of the Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Command, in tackling illegal mining activities in the state. The Special Adviser to the Governor on Migration and Homeland Security, Barrister Rasheed Segun Adegoke made the appeal on Wednesday, April 5, 2023, when he paid a…
Leadway has emerged the first insurance company in Nigeria to cross 3-digit billion mark with total premium collection of N104.4 billion of which Gross Written Premium is N92.5 billion, Savings & Investment is N10.8 billion and another N1.1 billion from its Ivorien Insurance subsidiary. Also, Leadway remains the leader in claims payment with N57.5 billion,…
Amid global economic instability and low investment yields that culminated 2022 financial year, the Nigeria Sovereign Investment Authority, NSIA, said its total assets grew to N1.02trn in 2022. The country’s sovereign wealth fund managed noted that its new assets value represents a 10.5 percent growth from the N919.73bn recorded in 2021. This was contained in a…
As at the end of 2022, Nigeria public debt ballooned to N46.25 trillion, whopping $103.11 billion, a report from the Debt Management Office (DMO) said on Thursday. The nation’s debt profile increased by N6.69trn trillion (an equivalence of $7.34 billion) within one year. The comparative figure of public debt as of December 31, 2021, was…
No less than 75 public places including airports, tertiary institutions and markets in the country will benefit free internet service following the approval by the Federal Executive Council, FEC, of contracts worth N24.20 billion for the provision of broadband The project is aimed at supporting micro, small and medium enterprises, the Minister of Communications and…
Zenith Bank Plc has announced its audited results for the year ending Dec. 31, 2022, achieving a growth of 24 per cent in gross earnings from N765.6 billion reported in 2021 to N945.5 billion in 2022. This is despite the persistent challenging macroeconomic environment and headwinds. According to the audited financial results for the 2022…
Vice President Yemi Osinbajo Tuesday launched a $600 million programme for young Nigerians in the technology and creative sectors with a call on African governments and the private sector to do more to support the growth of innovation in the continent. The Vice President spoke at the presidential launch of the Investment in Digital and…
An increase in failed payment transactions in February caused a 4.83 per cent decrease in the value of cashless transactions to N37.67tn from the N39.58tn that was recorded in January 2023. This came as the usage of e-payment gateways recorded a 41.29 per cent month-on-month increase according to new data from Nigeria Inter-Bank Settlement System….
The Metropolitan Law Firm has launched an endowment fund under the Islamic Banking guidelines to cater to the education of indigent Nigerians for basic to tertiary institutions. The fund, called Waqf, is an instrument of Islamic Estate Planning largely designed for charitable and philanthropic activities to solve social problems. Managing Partner, The Metropolitan Firm, Ummahani…
