Day: September 16, 2020

NSE records N2bn loss

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Trading activities on the floor of the Nigerian Stock Exchange yesterday witnessed another drop in share prices as bears tightened further their grip on the local bourse following sell-off in stock market. Also, the local bourse sustained negative breadth, recording 17 gainers against 19 losers. Consequently, the All-Share Index dipped 47.65 basis points or 0.18 per cent to close at 25,550.31 index points as against 25.597.96 recorded the previous day while market capitalisation of equities depreciated by N2 billion from N13.352 trillion the previous day to N13.597.96 trillion as market…

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AIICO Insurance projects N62.23bn gross premium

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AIICO Insurance Plc is targeting to achieve N62.23 billion gross premium income for the fourth quarter ending December 2020.     In its Q4 earning forecast obtained from the Nigerian Stock Exchange (NSE), the insurance firm also projected N11.24 billion as profit after tax and N11.33 billion as profit before tax for the period.     AIICO Insurance reported gross written premiums of N31.9 billion, representing 26 per cent rise from the same period in 2019 (Q2’19: N25.4bn).     According to the insurance firm, the growth was driven by…

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FBN Insurance brokers hosts SMEs’ risk mgt, cybersecurity webinar

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FBN Insurance Brokers Limited, a subsidiary of FBN Holdings Plc, will today hosts a webinar to sensitise SMEs on risk management and cyber security. According to a press release, seasoned experts on insurance brokerage, cyber security and risk management will spearhead discussions at the webinar. The event, which is themed, “Risk Management and Business Continuity amidst COVID19,” is scheduled for 10:00a.m, the statement said. Speaking on the event, Olumide Ibidapo, MD/CEO FBN Insurance Brokers, said: “SMEs remain the engine of growth of any economy, especially developing ones like ours and…

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Group hunts unqualified teachers In Nigerian schools

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Teachers Registration Council of Nigeria (TRCN), said the council will be going after unqualified teachers in public and private schools, across the country, as soon as schools fully reopen. The council further explained that grace periods have been given to the unqualified teachers to try and meet up with demands, yet there are still records of many unqualified teachers teaching in various schools. This was made known by the Registrar/CEO, Prof. Josiah Ajiboye. He stated that out of four million teachers in the various institutions in Nigeria, only over two…

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Okomu Oil employs 1,250 smallholder farmers

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Foremost Nigerian palm oil processing firm, Okomu Oil Palm Company Plc., has concluded plans to add not less than 1, 250 new jobs to its operation.   Specifically, the arrangement involves the firm rolling out a smallholder farmers’ scheme in collaboration with 2SCALE.   It involves cooperatives, spanning four local government areas in the state, on the back of Governor Godwin Obaseki’s agricultural reforms.   According to a news report, a cross section of stakeholders on the project disclosed this in Benin City, at the company’s Diagnostic and Design Workshop…

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Unemployment: NUFBTE president cautions FG over technology influx

Dorothy Ewah

  ***says NLC’ll act appropriately on electricity, fuel price hike The National President of National Union of Food Beverage & Tobacco Employees (NUFBTE), Comrade Lateef Oyelekan, has called on the Federal Government to be wary of modern technology that has the capacity to deepen unemployment in the country. Addressing the media during the week, Oyelekan, also faulted reports of factionalisation in the union. Expressing worries over the power of Artificial Intelligence on employment, he reminded the Federal Government that Nigeria was still a developing country where more people still need…

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Wigwe: Banks should partner states to address power problem

Anya Michael

The Group Managing Director, Access Bank Plc, Mr Herbert Wigwe, has said that banks need to partner state governments to resolve the country’s power issue to achieve sustainable growth and development.   Wigwe said this on Wednesday, at the 13th Annual Banking & Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN), at which there was a hybrid of both physical and virtual attendance.   He said that commercial banks should partner state governments to embrace solar power solution in order to resolve the country’s power issues.  …

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Otedola buys his 3 daughters one Ferrari each

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  Otedola buys each 3 daughters 2020 Ferrari Portofino Nigerian billionaire, Femi Otedola, is not just good at blessing and assisting others in dire need of financial assistance. The philanthropist and a former Chairman of Forte Oil PLC is just as good as he is to people outside to his immediate family. A proud father of three girls and one boy, namely; Florence (DJ Cuppy), Temi, Fewa and Tolani, Otedola on Wednesday surprised his girls when he took them out for shopping and gifted them each 2020 Ferrari Portofino. The…

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