Category: Top Stories

Missing Lagos 17-Year-old girl Found in Bauchi Motor Park

JUSTINA EMMANUEL OKPARA

Police in Bauchi State have found a 17-year-old girl, Mildred Ebuka, who got missing on Thursday while running an errand in Lagos. Ebuka reportedly left her residence in Victoria Island on Thursday to deliver a wig cap to her Aunty’s friend in the Ikorodu area of Lagos. The Bauchi Police Command on Friday alerted the public to locate the girl in its custody. In a statement via its Twitter platform, the police command said, “The bearer Mildred Joshua Ebuka female aged 17 years old of Block 19, Ubandale street, Victoria…

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Man Impregnates 14 Yr-Old Daughter In Ogun

Gedion Myek

Police in Ogun State say they have arrested a man, Amoda Bola, for allegedly impregnating his 14-year-old daughter (name withheld) in Ode, Remo North Local Government Area of Ogun State The police arrested Mr Bola, 49, at his residence in Idi Oro street, Ode Remo, following a complaint received from the victim. The daughter had told the police in Ode Remo Divisional Headquarters that “her father, with whom she has been living for some years now, has been having carnal knowledge of her.” A statement on by the police spokesperson…

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Kebbi Judge Killed By Wife

Admin

A 30-year-old woman, Farida Abubakar, has been arrested by the Kebbi State Police Command in connection with the murder of her husband, Attahiru Ibrahim Zagga. Spokesperson of the command, SP Nafiu Abubakar, who disclosed this in a statement on Friday, said Ibrahim, a Magistrate Court judge, with Kebbi State judiciary, was stabbed to death in his Birnin Kebbi house on Thursday night. He said: “On 25/8/2022 at about 2140hrs, Policemen attached to the Divisional Police Headquarters, Gwadangaji, received an information that, a suspected strange noise was heard from the house…

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AIICO Insurance grows premium by 21.4% in H1’22     

JUSTINA EMMANUEL OKPARA

AIICO Insurance Plc, foremost and most resilient insurance services provider, has announced a gross written premium (GWP) of N45.5billion in the H1 2022, up by 21.4per cent compared with N37.481billion recorded within the same of in 2021. While the company posted a growth of 21.4per cent in 2022, the group grossed N45.5billion year-on-year (y-o-y) in the first half of the year from N37billion or 21.6per cent within the period under review. The company’s unaudited results represent the firm’s performances for the interim period ended 30 June 2022. Accordingly, the company’s…

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AMCON: Josepdam not indebted to us

JUSTINA EMMANUEL OKPARA

Following the successful liquidation of its indebtedness, the Asset Management Corporation of Nigeria (AMCON) has declared Josepdam & Sons Limited and Josepdam Sugar Company Limited free of any debt obligation to the Corporation. A letter to this effect sighted by our correspondent revealed that the concerned obligors had defrayed the total outstanding balance put at N18.783 billion. Recall that a section of the media had recently been erroneously listing Josepdam alongside other obligors that are yet to liquidate their indebtedness to the Corporation.  The said publication also alleged that Mrs.…

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Nigerian Govt Officials, Microsoft Managers In Alleged $200m Bribe

Aleko Sydney

A 20-year-old employee with tech behemoth, Microsoft, has alleged that the firm is bribing clients in Nigeria as well as across the Middle East and other African countries on a massive scale. According to the whistleblower, Yasser Elabd, who published his testimony in March on the website, Lioness, the company spends more than $200 million annually on bribes and kickback schemes in Nigeria, Saudi Arabia, Qatar, Zimbabwe, and Ghana, among other countries. The report posted in rt.com quoted the employee as saying that more than half the managers and salespeople…

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FY’21: Leadway Assurance Pays N48bn Claims To Policyholders

JUSTINA EMMANUEL OKPARA

Following a five-year streak of outpacing the industry players in claims expense to its policyholders, Leadway Assurance Company Limited, Nigeria’s foremost insurer, maintained another year-on-year increase with N48 billion claims – the highest annual claims expense as of December 31, 2021. Leadway Assurance’s claims expenses for 2021 recorded a 10 per cent increase from N43.5billion in 2020 to N48 billion relative to the previous year.  The shareholder’s fund also recorded 18.8 per cent increase from N67.8 billion in 2020 to N80.6 billion in 2021, while posting a Total asset of…

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AXA Mansard Records 21% Drop In Profits

JUSTINA EMMANUEL OKPARA

Frontline underwriting firm, AXA Mansard Insurance Plc, has posted a 21 per cent drop in its profits before and after tax. According to the breakdown, the insurer recorded a four percent drop in profit before tax as well as 17 per cent drop in profit after tax, according to details from its 2021 financial report. Further details revealed that the company’s PBT went down from N6.04 billion recorded in 2020 to N5.78 billion posted in 2021, representing a four per cent drop. In the same vein, the profit after tax…

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Investors say Flutterwave’s governance issues demand an intervention

Admin

Flutterwave’s rise to startup stardom has been fueled by over $400 million from venture capitalists. When Flutterwave wanted to raise $100 million in Jan. 2021, it pitched a compelling set of metrics to investors. Its revenue had grown from $5 million to $55 million between 2018 and 2020. Gross profit was $26 million with a 48% margin. Its services were used in 20 countries, thanks to the hard work of over 270 employees. Based on these numbers (as recorded in an investor presentation seen by Quartz), the licenses it had…

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