The National Insurance Commission (NAICOM) has released the insurance regulatory’s sandbox operational guidelines, to take effect from May 1, this year. The guideline is to encourage innovation that would drive financial inclusion and positive competition. This is expected to be used to test insurance solicitation or distribution; insurance products, underwriting,[Read More…]
The International Monetary Fund (IMF) has expressed disappointment over the rather slow adoption of Nigeria’s digital currency, eNaira, stressing that it leaves nothing to cheer about. According to The Nation, IMF disclosed in a report titled, “Nigeria’s eNaira, One Year After,” dated May 2023 and obtained at the weekend,[Read More…]
The financial services industry dominated in volume terms at the end of last week’s transactions on the equities sector of Nigeria’s capital market. It led the activity chart with 2.1 billion shares valued at N21.8 billion traded in 14,008 deals, thus contributing 69.2 per cent to the total equity turnover.[Read More…]
Mr Zhang Jianhua, Administrator, Energy Administration, the People’s Republic of China, has lauded the high-level energy dialogue between China and Organisation of Petroleum Exporting Countries (OPEC) Member Countries. Jianhua said the dialogues had jointly maintained global oil market stability. Jianhua made this known at the Sixth High-level Meeting of the[Read More…]
The Federal Government on Tuesday launched Gender and Environmental Reporting Frameworks in Extractive Industries to meet Nigeria’s reporting obligation to the global Extractive Industries Transparency Initiative (EITI). The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed unveiled the frameworks in Abuja during her visit to the Nigeria Extractive[Read More…]
In a move towards fostering gender equality, inclusiveness and economic empowerment, Polaris Bank has announced the disbursement of business support loans to female-owned businesses in the first quarter of 2023. This is part of the Bank’s commitment to supporting women and female-owned businesses through the provision of soft loans. [Read More…]
Ecobank Transnational Incorporated (“ETI”), the parent of the Ecobank Group, the leading pan-African bank with a presence in 35 African countries, held its 35th Annual General Meeting (AGM) and an Extra Ordinary General Meeting, yesterday in Lomé, Togo. At the meeting, shareholders approved the accounts and the[Read More…]
The adoption of the Fifth Generation (5G) network is fast expanding as MTN disclosed that it has activated over 700 sites across 13 cities since its launch in August 2021. Connected cities, according to MTN, include Lagos, Abuja, Port Harcourt, Kano, Owerri, Ibadan, Maiduguri, Abeokuta, Ife, Warri, Enugu, Ife and[Read More…]
The Federal Government has condemned the attack on the motorcade of staff of United States (U.S.) Consulate in Nigeria by gunmen in Ogabru Local Government Area (LGA) of Anambra which left four people dead. The Ministry of Foreign Affairs condemned the attack in a statement by the ministry’s Spokesperson, Francisca[Read More…]
Minister of Transportation, Alhaji Muazu Sambo, has urged members of staff of the Nigerian Maritime Administration and Safety Agency (NIMASA) to double their efforts to ensure improved service delivery and economic development. Sambo gave the advice while inaugurating the new NIMASA Abuja Liaison office on Tuesday. He said that establishing[Read More…]
