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Why Nigerian insurance is one of the lowest globally - CPPE

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Why Nigerian insurance is one of the lowest globally - CPPE

High levies threaten survival of Nigerian airlines, says CPPE

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Lagos signs power purchase deals to boost supply by

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Hackers breach North Korean spy group’s computer

Italy okays extradition of Chinese hacker wanted by US

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Dangote urges govt, private sector partnership to eliminate malaria

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FG’s spending on pension, gratuity drops to N356bn

The Federal Government’s expenditure on pensions and gratuity fell slightly by N3.48bn in 2021, according to figures obtained from the Central Bank of Nigeria. The CBN revealed in its data on ‘Federal Government recurrent expenditure’ that the amount spent fell from N359.6bn in 2020 to N356.12bn in the 2021 financial year. Despite yearly allocations, the […]

News

Firm boosts gender equality in workplace

Great Nigeria Insurance Plc has said it is ensuring adequate representation of the female gender in the workplace. It said in a statement that, “For over 60 years, Great Nigeria Insurance Plc has proved itself to be a reputable insurance company with the professional experience to underwrite both life and non-life insurance businesses. “One of […]

News

Report fraudulent calls, PTAD urges retirees

The Pension Transitional Arrangement Directorate has urged its retirees to report any fraudulent call, saying that it will not tolerate pension fraud in the system. A statement said the Executive Secretary, PTAD, Dr Chioma Ejikeme, said this when the newly elected executive members of the National Association of Retired Paramilitary Officers, led by its President, […]

Economy

Debt servicing doubles, hits N896bn in three months – DMO report

Nigeria’s debt-servicing bill has increased by 109 per cent to N896.56bn, according to data obtained from the Debt Management Office. The PUNCH reported that as a result of the aforementioned, the country has also spent N3.83tn on debt servicing payments in 15 months. While a total of N2.93tn was spent on debt servicing payments in […]

IATA welcomes CBN's release of $265m to airlines
Aviation

Foreign airlines kick as FG blocks $450m ticket revenue

The International Air Transport Association has expressed concern over the decision by the Federal Government of Nigeria to block foreign airlines from repatriating ticket sales revenue running to $450m (N188.6bn) into their respective countries. IATA, the Geneva-based trade body representing over 200 international carriers, spoke at a press briefing marking the opening of its 78thn […]

inflation
Economy

43% homeowners delayed improvements due to inflation – Report

Sixty per cent of homeowners, in a recent survey, said they were less comfortable making large purchases for their homes or households because of rising prices, according to Hippo Insurance’s 2022 Homeowner Preparedness Report. Nearly 43 per cent either strongly (14.4 per cent) or somewhat (28.4 per cent) agreed that inflation had caused them to […]

News

RIMAN harps on enterprise risk management

The Risk Management Association of Nigeria has expressed its commitment to sustainability and enterprise risk management in organisations. It said this in a statement on its upcoming annual general meeting and conference with the theme, ‘Sustainability and Enterprise Risk Management: 2022 and beyond’ which would hold in Lagos. RIMAN, a professional body for risk management […]

Telecommunications

NIN: Telcos lose 12.33 million subscribers in 2021

The number of Internet subscriptions fell from 154.29 million as of December 2020 to 141.96 million as of December 2021, showing an eight per cent decline on a year-on-year analysis. This is according to the 2021 Subscriber/Network Data Annual Report released by the Nigerian Communications Commission on Thursday. The report read in part, “As at […]

Economy

Inflation to push 15 million Nigerians into poverty –World Bank

The World Bank has said that inflation shock is projected to push about 15 million more Nigerians into poverty between 2020 and 2022. The Washington-based bank said this in its latest Nigeria Development Update report, titled, ‘The Continuing Urgency of Business Unusual’. The report read in part, “Overall, the ‘inflation shock’ is estimated to result […]

News

7.6 million South Africans invest in crypto – Study

About 22 per cent of adults in South Africa are cryptocurrency investors according to a study by Kucoin. This translates to 7.6 million people aged between 18 and 60. The study also found that 65 per cent of crypto investors in the nation ‘consider crypto to be the future of finance.’ According to the report, […]

News

E-commerce offers growth opportunity for SMEs -Google rep

The Google Country Director for West Africa, Juliet Ehimuan, has said e-commerce presents an opportunity for small businesses in Nigeria and other African countries to attract new customers and grow. She disclosed this as google announced its plan to support small retail businesses on the continent as part of a month-long celebration of International Micro, […]

Nigerians bought petrol N191.65 per litre September- NBS
Oil and Gas

Petrol price rose to N173.08 in May –NBS

The National Bureau of Statistics says the average retail price paid by consumers for Premium Motor Spirit (petrol) increased to N173.08 in May. This is according to the NBS Premium Motor Spirit Price Watch for May, 2022 released in Abuja on Saturday. The report said the increase indicates a 2.99 per cent increase when compared […]

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