Top Stories Archives - Page 20 of 52

COVID-19: Firm rewards frontline workers for essential services

August 5, 2020 admin

In appreciation of frontline workers, who have been committed to the overall well-being of Nigerians during the COVID 19, the La Casera Company (TLCC) has disclosed plans to reward front line workers with the ‘La Casera Heroes.’ This initiative, the company said, was to celebrate and recognise frontline heroes that have been providing essential services since the first index case was reported in Nigeria early this year. Speaking at the gift presentation and the unveiling of the La Casera Heroes Campaign, the Managing Director, The La Casera Company, Chinedum Okereke,…

Labour faults irregular appointment into civil service

August 5, 2020 admin

Organised labour under the umbrella of Association of Senior Civil Servants of Nigeria (ASCSN) has deplored upsurge in irregular appointments in the federal public service. In a statement made available to Newsfieldglobal, the immediate past President of the association, Comrade Bobboi Kaigama, recalled that recruitment in the service had always been guided by the Public Service Rules (PSR) 020201-020412 with specific guidelines documented without being open ended. He, however, lamented that despite such rules tgere were still cases of irregular appointments/recruitments into the Federal Public Service including indiscriminate transfer of…

AIICO records 26% growth in gross written premium

August 5, 2020 admin

AIICO records 26% growth in gross written premium AIICO Insurance Plc has reported gross written premiums of ₦31.9 billion, representing 26 rise from the same period in 2019 (Q2’19: N25.4bn). The growth was driven by sustained positive performance across the major lines of business of the group. A statement made available to New Telegraph said the group’s shareholders’ funds increased by 9.39 per cent from N27.9 billion in 2019 to N30.5 billion, driven by the group’s earnings for the period and its strong matching of long term asset and liabilities,…

MTN seeks to sell stake in Jumia

August 5, 2020 admin

MTN Group Limited is planning to sell part or all of its $243 million interest in Jumia Technologies AG as Africa’s biggest wireless carrier looks to pay down debt and enter new markets. According to Bloomberg, MTN, which had previously marked the online retailer as a non-core business, is reviving plans for a sale after Jumia’s shares surged 142 per cent this year, recovering from a dip in 2019, one of the source familiar to the plan said. No final decisions about the sale have been made, the people…

NSE records midweek gain of N20bn

August 5, 2020 admin

Trading activities on the floor of the Nigerian Stock Exchange today closed on the positive route to maintain uptrend as bulls sustained grip on the local bourse for the fourth trading session following gains recorded by blue chip firms. The local bourse recorded18 gainers against 12 losers as market sentiments remained green. Consequently, the All-Share Index appreciated by 140.53 basis points or 0.16 per cent to close at 24,882.04 index points as against 24841.92 recorded the previous trading session while market capitalisation of equities grew by N20 billion from…

Stanbic IBTC female employees reach out to less privileged

August 5, 2020 admin

Stanbic IBTC Blue Women Network (BWN), a network of female employees of the Stanbic IBTC Group, has donated food items and provisions to orphanage homes in locations across Nigeria through its Blue Women, “Giving Back Initiative.” In a statement, the lender said that the BWN, inaugurated five years ago, has consistently taken steps towards helping the society at large, adding that part of the body’s mandate is to provide support to the disadvantaged, hence, the creation of its Giving Back Initiative. According to the statement, BWN members made voluntary cash donations…

Heirs Holdings appoints Okeke Group Executive Director

August 5, 2020 admin

Pan-African investment company, Heirs Holdings (HH), has announced the appointment of Dan Okeke as Group Executive Director. In a statement, the company said the appointment took effect from August 1, 2020. According to the statement, “Mr. Okeke joins HH following a distinguished three-decade career at the United Bank for Africa Plc (UBA), where he most recently served as an Executive Director, responsible for leading consumer, commercial and public-sector businesses. “At HH, he will be responsible for business coordination and growth across Heirs Holdings’ portfolio of pan-African investments in the…

Analysts: Lockdown ease to boost VAT inflow in H2’20

August 5, 2020 admin

Citing the relaxation of COVID-19 restrictions, analysts at Cowry Asset Management Limited have said that the Federal Government will likely rake in more revenue from Value Added Tax (VAT) in the second half of this year compared with the amount it generated in H1’20. The analysts made the prediction in the latest edition of the firm’s “Cowry Weekly Financial Markets Review and Outlook” report. According to data released by the National Bureau of Statistics (NBS) last week, total VAT collected in H1’20 rose by 8.45 per cent to N651.77 billion, from…

CPS: Crisis as litigation ensnares lump sum payment

July 31, 2020 admin

For the first time since it was established, the Contributory Pension Scheme (CPS) appears to have run into a legal hitch over lump sum payment to retirees. Sunday Ojeme reports Having been created to take care of the defunct government funded pension scheme, the Contributory Pension Scheme (CPS) has turned out the best option in this regard with Nigerian workers registered under it seeing a brighter retirement future. With contributions now exceeding N10 trillion, each contributor readily knows how much he is entitled to as pension if he…

Fraud: Access Bank advises customers to be vigilant

July 31, 2020 admin

Access Bank has admonished its customers to remain vigilant and beware of the common tricks used by fraudsters to rob them of their monies. Executive Director of Retail Banking, Access Bank Plc, Victor Etuokwu, expressed concern about the growing number of fraud cases being reported. He implored customers to take more responsibility in safeguarding their funds and offered reassurance of the bank’s commitment to providing information relevant to identifying and fending off fraudsters. He said: “Over the last few months, the number of reported fraud cases has spiked considerably.…