The Commissioner for Insurance Mr. Olusegun Ayo Omosehin paid a courtesy call on the Governor of Ondo State Lucky Aiyedatiwa at his residence this morning after service at the State House Chapel, Akure.
Author: orientalnewsng
Yemisi Izuora The Dangote Petroleum Refinery has denied receiving any payments from the Independent Petroleum Marketers Association of Nigeria (IPMAN) to purchase refined petroleum products. However it admitted that discussions are ongoing with IPMAN, but that it is misleading to suggest that the Association is experiencing difficulties loading refined products from its refinery, as management of the facility currently has no direct business dealings with them. “Consequently, we cannot be held responsible for any payments made to other entities.” It said in a statement last night. The Refinery management clarified that payment in mention has been made through the Nigerian…
Yemisi Izuora Leadway Assurance, reaffirmed its leadership position as the company emerged as the Insurance Company of the Year at the prestigious 2024 Businessday Banks and Other Financial Institutions (BAFI) Awards. This recognition celebrates Leadway’s exceptional service, innovation, and enduring commitment to redefining insurance in Nigeria. The BAFI Awards, now in its 12th year, is known as the most rigorous and transparent award programme in Nigeria’s financial industry. It celebrates innovation, value creation, and the highest standards of excellence among financial institutions. The leading insurer’s win in this year’s category is a testament to the company’s continuous strides in driving…
Yemisi Izuora The National Insurance Commission (NAICOM) has relieved the Board and Management of African Alliance Insurance Plc, of its responsibilities. The firm which is one of Nigeria’s oldest life assurance companies lost its bearing following years of insolvency and failure to meet the obligations of annuitants and policyholders. The Commission, as the primary regulator of the Insurance Sector, announced that it has taken over the Board and Management of African Alliance Insurance Plc, effective today, 30th October, 2024. This decision follows an extensive monitoring and review of the company’s financial condition, governance, and operational practices, which revealed significant concerns…
Uche Cecil Izuora Ghana is proposing to import refined petroleum products from Nigeria to boost the country’s energy security and sustain business cooperation with her neighbours. The Chief Executive Officer (CEO) of National Petroleum Authority of Gnana, Dr. Mustapha Abdul-Hamid, at the opening panel session at the 18th Africa Downstream Energy Week (OTL) in Lagos, with the the theme, “Alliances of Growth” said the country would take the steps to sign agreement with Dangote Refinery to start importation of products. This he said will end reliance of products import from Rotterdam by the Ghana which it considered more expensive. Abdul-Hamid,…
Yemisi Izuora Lagos State is seeking strategic partnership with key private sector players to advance and develop sustainable energy ecosystem that will align with its energy transition initiative. Governor of the State Babajide Sanwo-Olu, said stronger alliances with the private sector both local and international to unlock the potential of sustainable energy solutions across Lagos. The Governor made the call in his speech at the opening session of the 18th OTL Africa Downstream Energy Week in Lagos, themed “Alliances for Growth.” The Governor, who was represented by Mr. Biodun Ogunleye, Lagos State Commissioner for Energy and Mineral Resources, emphasized…
Yemisi Izuora The International Finance Corporation (IFC) a member of the World Bank Group, and the Central Bank of Nigeria (CBN) have agreed to increase local currency financing to enable private businesses in Nigeria to grow and thrive. Under the agreement the IFC will manage currency risks and increase its investment in Nigerian naira across priority sectors of the economy, including agriculture, housing, infrastructure, energy,small and medium enterprises and the creative and youth economy. The IFC aims to significantly scale up its financing of critical sectors in Nigeria, with a goal of providing more than $1 billion in the coming…
Yemisi Izuora Unitrust Insurance Company Limited, has reported revenue of ₦6.9 Billion, for the year 2023 showing a 30 per cent increase compared to ₦5.3 Billion recorded in 2022 The milestones across its financial metrics, reinforces its position as a leading player in the insurance industry and this also followed doption of the new IFRS 17 standards. This growth is attributed to improvement in service delivery, customer, and strategic expansion into new market segments. Unitrust successfully navigated the storming macroeconomics environment in 2023 by deploying cost optimization and initiatives to deliver Profit Before Tax of ₦2.4 Billion and Profit After…
Grooming People for Better Livelihood Centre, a leading Non-Governmental Organization (NGO) dedicated to empowering Nigeria’s economically active poor, has completed the renovation of St. Peter’s Secondary School, Awomnuzie, in Ikwuano LGA, Abia State. This renovation marks a transformative moment for the school, equipping it with cutting-edge educational facilities and setting a new standard for quality education in the region. Founded in 2006, Grooming Centre has become a catalyst for positive change, with a mission that transcends financial inclusion to foster social impact through education. This project was made possible by Grooming Centre in partnership with the Catholic Diocese of Umuahia.…
Yemisi Izuora Reputable insurance and reinsurance companies have sponsored the inaugural International Conference for Women in Insurance, organised by the Africa Insurance Women Association, (AIWA). This ground-breaking event will gather industry leaders, policymakers, and stakeholders from across the globe to discuss the theme of the Conference “The Future of Insurance: Trends, Challenges, And Opportunities”. The sponsor are: Ghana Re, Africa Re, NSIA Insurance, WAICA Re, Rex Insurance Limited, Zenith General Insurance Company Limited and African Insurance Organisation. Heirs General Insurance, Heirs Life, Heirs Insurance Brokers (Heirs Insurance Group) is the gold sponsor for this year’s conference. Other sponsors include Continental Re, Leadway…