Guinea Insurance Plc has reached a major milestone in its recapitalisation exercise, having exceeded the ₦15 billion minimum capital requirement set by the National Insurance Commission (NAICOM) for non-life insurance companies, following the successful conclusion of its hybrid capital raise. The Company raised approximately ₦12.6 billion through a hybrid offer made up of a Rights Issue and a Private Placement. Both transactions complied with regulatory guidelines and obtained all necessary approvals from the Securities and Exchange Commission (SEC). According to the Managing Director, Mr. Ademola Abidogun, the proceeds from the capital raising exercise, when combined with the Company’s existing paid-up…
Author: orientalnewsng
The National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA) are calling for a stronger partnership with insurance and pension editors NAIPE to accelerate the growth of Nigeria’s insurance industry. Speaking at the investiture of the new executives of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Victoria Island, Lagos, on Thursday, NAICOM urged closer collaboration between NAIPE, industry operators and other stakeholders to drive reforms that will strengthen the insurance sector, boost Nigeria’s economic resilience and expand social security. The Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Omosehin, said sustained partnership…
By Gaffar Tunde Do we really have the interest of our country at heart or are we hell-bent on seeing them fail? News reports have been fraught with inaccurate details regarding an alleged plan by the Federal Government to increase tariffs and remove subsidies. Many people have been reporting misleading information rather than the facts. Here is an account of the true state of the media interaction the Minister of Power, Joseph Tegbe held with senior journalists to brief them on activities in the power sector since he assumed office. Addressing the media executives present at the interaction, the…
Yemisi Izuora AXA Mansard Plc is tackling delays in access to healthcare services through digital innovation with the introduction of Karis, a WhatsApp-based platform designed to simplify health insurance processes for enrollees. Speaking at the Investiture of the new executives of the Nigerian Association of Insurance and Pension Editors(NAIPE) in Victoria Island, Lagos on Thursday, the Head of Marketing and Corporate Communications, AXA Mansard insurance Plc, Mr Olusesan Ogunyooye said, Karis was developed to address the frustrations often experienced by customers in accessing healthcare services. According to him, the platform seeks to eliminate long waiting times for treatment authorisation,…
L-R: Dr. Gbadebo Aderenle, Managing Director, United Capital Investment Banking; Adetola Fasuyi, Managing Director, United Capital Wealth Management; Dr. Odiri Oginni, Managing Director/Chief Executive Officer, United Capital Asset Management; Peter Ashade, Group Chief Executive Officer, United Capital Plc; Esther Adeola-Balogun, Managing Director/Chief Executive Officer, UCEE Microfinance Bank; and Adekunle Olugbile, Head, United Capital Consumer Finance; at the maiden edition of the United Capital Investor Relations Roundtable held in Lagos recently. Yemisi Izuora United Capital Plc has posted a sharp jump in earnings for the first half of 2026, with profit after tax climbing 77.5 per cent year-on-year to N21.10 billion.…
L-R: Dr. Gbadebo Aderenle, Managing Director, United Capital Investment Banking; Adetola Fasuyi, Managing Director, United Capital Wealth Management; Dr. Odiri Oginni, Managing Director/Chief Executive Officer, United Capital Asset Management; Peter Ashade, Group Chief Executive Officer, United Capital Plc; Esther Adeola-Balogun, Managing Director/Chief Executive Officer, UCEE Microfinance Bank; and Adekunle Olugbile, Head, United Capital Consumer Finance; at the maiden edition of the United Capital Investor Relations Roundtable held in Lagos recently.
………….. Supports Tinubu’s Reforms Governor Ahmed Usman Ododo of Kogi State has called on Kogites and Nigerians living in the United Kingdom to rally behind the economic reforms of President Bola Ahmed Tinubu, GCFR, project a positive image of Nigeria and channel their investments, expertise and global networks towards the development of Kogi State and the nation. Speaking at a Town Hall Meeting with Kogites and Nigerians in London on Thursday, the Governor said Nigeria’s future depends on the collective efforts of its citizens both at home and abroad, urging the diaspora to become active partners in nation-building by…
Yemisi Izuora Seplat Energy Plc, has announced its unaudited results for the for the six months ended 30 June 2026, declaring US 12.0 Cents total dividend per share for the period, with its Profit After Tax (PAT) for the period rising by 498 per cent to $164m. The energy company grew its revenue to $1.82bn from $1.398bn Year-on-Year with cash generated hitting $985.9m. Production averaged 139,509 barrels of oil equivalent (boepd )in the first six months 6M of 2026 up 4 per cent from 6M 2025 (134,492 boepd), within 2026 guidance (135 – 155 kboepd). Working interest oil production…
Yemisi Izuora Oil major Shell has recorded higher profits for the second quarter of the year which more than doubled after the Iran war pushed up oil prices. The oil giant posted profits of $9.84bn (£7.37bn) for the April-to-June period, up from $4.26bn at the same point last year. The price of crude has risen since the outbreak of the US-Israel war with Iran due to major disruption to global supplies of oil and liquefied natural gas (LNG) through the Strait of Hormuz. But energy prices have also seen sharp swings during the conflict, which has boosted Shell’s trading business. Shell chief executive…
Uche Cecil Izuora Nigeria’s global reckoning in gas export is burgeoning with broader expansion drive by the Nigeria LNG . The Company says beside its current market position is redefining its growth ambition to elevate its current global market share of the Liquified Natural Gas (LNG). Nigeria through the NLNG contributes 6 per cent to the world’s total LNG supply pool, positioning Nigeria as a key player in the international gas market despite domestic challenges. This is according to the Managing Director of the Nigeria LNG, Engr. Adeleye Falade, in his fact behind the figures report presented to the…