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Jim Ovia 1

Zenith Bank Chairman, Jim Ovia, Bolsters Control with Purchase of Five Million Shares

Zenith Bank’s Chairman, Jim Ovia, has enhanced his position by purchasing five million units of the bank’s shares, a transaction amounting to over N144m. The acquisition was announced in a notice addressing insider trading, signed by Michael Otu, the company secretary, on Thursday. On Wednesday, Ovia was purchased in ten transactions on the Nigerian Exchange …

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CIPM Organizes Walk to Celebrate International HR Day

Article Summary The Chartered Institute of Personnel Management of Nigeria (CIPM) commemorated International Human Resources Day 2023 by arranging a 4-kilometre walk within the Alausa Business District. CIPM President Olusegun Mojeed hailed the significant contributions of HR professionals in promoting employee well-being and driving organizational success. Mojeed also emphasized the importance of continuous learning and …

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Nem Insurance Cuts Expenses 11.9 Amid N12.3Bn In Rising Claims

NEM Insurance Cuts Expenses 11.9% Amid N12.3bn in Rising Claims

NEM Insurance Plc has reported a drop of 11.9% in its management expenses as the gross claims rose to N12.3 billion for the financial year that ended on December 31, 2022. Speaking at the company’s 53rd Annual General Meeting, Dr. Fidelis Ayebae, Chairman of NEM Insurance, said, “The Board supervised the management’s efficiency during the …

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Seyi Makinde 1

Agribusiness Owner Accuses Oyo State Governor of Imposing High Taxes

Article Summary Ms Omolara Svensson, an agribusiness owner in Oyo State, accuses the state government of imposing heavy taxes on the sector, risking the survival of such businesses and discouraging young Nigerians from entering the field. Svensson urges for better dialogue with the government and establishing a committee to address these concerns constructively. In response, …

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Police Chief Urges More Bank Support For Msmes And Artisans

Police Chief Urges More Bank Support for MSMEs and Artisans

The Osun State Police Commissioner, CP Kehinde Longe, has underscored the importance of financial institutions stepping up their support for MSMEs and artisans to help tackle the alarming crime rate in society. This statement was made during a courtesy call by Dr Adekunle Adewole, the Managing Director of LivingTrust Mortgage Bank Plc, and some of …

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Nigerian Insurers Shift 60 Oil Gas Ventures Abroad Due To Forex Risk

Nigerian Insurers Shift 60% Oil & Gas Ventures Abroad Due to Forex Risk

In the face of a volatile foreign exchange market, Nigerian insurance companies are exporting a significant amount of their oil and gas operations abroad. A recent probe shows an upward trend in this practice over the last five years, with more than 60% of their business in this sector being assigned to foreign insurance firms. …

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Transit Gas Nigeria Limited Tgnl In Ogun State

Revolutionizing Energy in Ogun State: Transit Gas Nigeria and NGML Launch New Facility

Transit Gas Nigeria Limited (TGNL), an Axxela subsidiary, in partnership with NNPC Gas Marketing Limited (NGML), has launched a Natural Gas City Gate facility in Ibefun. This new facility is set to provide natural gas to industrial and commercial sectors in Ogun State and the broader Southwest region of Nigeria. The cutting-edge facility can deliver …

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NERC Authorizes Power Disconnection After 12-day Non-payment Period

According to a recent statement, the Nigerian Electricity Regulatory Commission (NERC) has recently given Distribution Companies (DisCos) the green light to cut off power to customers who default on their electricity bills for at least 12 days. In a document titled ‘Customer Protection Regulations, 2023’, released on the NERC website on April 20, 2023, it …

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Herbert Wigwe 1

Herbert Wigwe Takes Charge of France Nigeria Business Council after Abdul Samad Rabiu

The founder and Executive Chairman of BUA Group, Abdul Samad Rabiu, has passed the mantle of leadership of the France Nigeria Business Council to Herbert Wigwe, the Group Managing Director of Access Bank. The handover ceremony symbolizes a new era in the Council’s trajectory following Rabiu’s effective two-year tenure as its inaugural President. Rabiu’s presidency …

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Telcos Threaten to Cut USSD Services over Banks’ N120bn Debt

A significant disruption in online banking services looms over Nigeria as telecommunication companies (telcos) gear up to suspend Unstructured Supplementary Service Data (USSD) services to banks from 7 pm today. This disruption will affect various banking transactions conducted via mobile phones, including fund transfers, account balance checks, and bank detail verifications. Notably, these transactions can …

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