Yemisi Izuora The National Insurance Commission (NAICOM), is set to unveil a revised priority guidelines on Risk Based Supervision (RBS) for insurance operators. Commissioner for Insurance, Mohammed Kari made the disclosure said the Commission has commenced migration of the insurance sector into the RBS regime when it introduced Enterprise Risk Management (ERM) and Code of Corporate Governance guidelines, among others. According to the commissioner, The Commission is set to conduct one of the principal programmes in the RBS regime which is the mandatory training for directors of insurance firms. He said: “We have since commenced migrating the sector into a…
Author: Orientalnews Staff
Yemisi Izuora with Agency Report Africa’s economic outlook looks promising as the continent in 2016 maintained its position as the world’s second-fastest growing economy behind South Asia, according to data released by the African Development Bank (AfDB). The Bank tabled this report titled, Financial Presentation, at the recently held annual meetings in Ahmedabad, India. The report said Foreign Direct Investment increased slightly reaching $56.5 billion in tune with growing urbanisation and cities growing with consumer markets increasingly targeted by foreign investors. Official development assistance, which remains the most important source of public finance, declined by 1.7 per cent. Remittances mainly by…
Source- Thisday After months of repairs, Shell Petroleum Development Company (SPDC) has restarted the Trans-Forcados crude export pipeline with the completion of the loading of the first tanker – Astro Perseus, at the Forcados terminal, THISDAY has learnt. The crude oil tanker, it was learnt, has been scheduled to depart to Takoradi in Ghana. The Trans-Forcados pipeline was first attacked by the Niger Delta Avengers in February 2016, the first attack on a subsea pipeline in the country. A spill that occurred on February 14, 2016 on the subsea crude oil export pipeline, had forced Shell to declare force majeure…
Yemisi Izuora Law Union & Rock Insurance Plc, is currently focussing on distribution of its products to the middle class during the course of 2017 financial year to drive growth and profitability. The Managing Director, Mr. Jide Orimolade,who disclosed this at the company’s 48th Annual General Meeting, AGM, in Lagos, said that the company also expects to reap huge premium income through retail products as well as launch of additional retail products. He noted that the effort to reposition the company has started yielding result as the company was able to regain its dominance in the engineering sector. He attributed…
Yemisi Izuora The United Bank for Africa Plc, UBA, has celebrated the 2017 Africa Day across its 19 countries of operations with the theme: ‘Africa, the new frontier.’ The celebration was in line with its commitment to promote the African culture and deepen its footprints on the continent. The bank said the Africa Day was dedicated to celebrating the diversity of the continent, as well as to highlight the cultural and economic potential that exists on the continent. The banks employees celebrated the day in a grand style as they dressed to work in a display of the best of…
Yemisi Izuora Staco Insurance Plc has received approval for its audited financial statement for year ended 31st December, 2016 from the National Insurance Commission (NAICOM). The insurance firm said that with such approval, it could publish the audited financial statements. The approval was granted after a confirmation that Staco Insurance had substantially complied with the commission’s regulatory requirement, the statement explained. From the approved 2016 financial statements, the shareholders fund of the company rose from N3.4bn in 2015 to N3.8bn in 2016, representing an increase of 10.33 per cent with a positive solvency margin. The company, at the end of…
Yemisi Izuora Heritage Bank Plc, has exposed children between the ages of five and seven years on banking services in order to put them through on financial literacy. The programme, which is part of activities to mark the bank’s Children Banking Month, tagged: My Day as a Banker, was held at the banks headquarters in Lagos with pupils from Hilltop Grade International School, Lekki, Lagos in attendance. From the Reception to the Customer Service, Foreign exchange, Corporate Banking and Human Resources, the pupils were visible attending to customers who were amazed at the skills the kids exhibited in addressing their…
Yemisi Izuora The Family Empowerment and Youth Orientation Programne, FEYREP in collaboration with Africa Farming Project would be organising a forum which aims at promoting fish, livestock farming and micro-financing as well as poultry processing and export for sustainable economic growth in West Africa. The event tagged, “West Africa Intl. Poultry, Livestock, Aquaculture, Food security investment summit & Exhibition” WAIPlAS holds in Uyo, Akwa Ibom state from June 6-8, 2017. The event is an international Aquaculture, livestock & Agro allied show designed to bring various Aquaculture, livestock and Agro allied stakeholders, farmers, agencies, institutions, governments, producers, processors and Manufacturers from…
Yemisi Izuora The MHNG Network in partnership with the School of Media and Communications (SMC) of the Pan Atlantic University, PAU, has trained some Nigerian journalists in the art of interview. The training aimed at broadening the skill of journalists in the area of conducting interviews. The convener of the media initiative and the CEO of Urban 10 Hub Limited, Miss Rosemary Egabor, speaking at the training session observed that the art of interviewing is one of the most important skills that a journalist requires to expand on information, clarify facts and see things from different perspectives. Egabor, further notes…
Yemisi Izuora Power Distribution Companies (Discos) in Nigeria have said that they would not guarantee better services when about N80.6 billion debts is by consumers. Top executive officers of major power distribution companies (Discos) came to this position just as they sought government intervention to save the sector. Of the said amount, the Discos wthin the Lagos axis are said to be bearing the brunt of more than 50 per cent of the total sum. Disclosing this at the second ‘Electricity Consumers, Operators and Stakeholders Forum’, in Lagos, the Discos said contrary to the impression being created in some quarters,…