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Friday, November 27, 2020
Despite the precipitous drop in yields on government instruments and the wrought caused by the coronavirus pandemic, listed insurers such as AIICO, Wapic and Cornerstone have grown investment income. Insurers...

Payments Lead Nigeria’s 200+ Fintech Environment with $560mn in Funding

Nigeria is home to 200+ FinTechs, whose activities are primarily focused on payments with increased activities in the lending and savings space. This is...

Nigerian Banks Profit Growth Slows to 3 year Low as Virus Takes Toll

The increase in bad loans caused by lockdowns imposed by the government to combat the spread of the virus has compounded the woes of...

Bitcoin Market Cap at $352bn is 8-Times NSE Listed Equities

The ongoing epic bull run in Bitcoin has led to an ever widening gap in its market cap against Nigerian blue chip firms like...

Editor Picks

Nigerian Companies Debt Pile Hits N1.75trn on Oando, Dangote, Others

Nigerian non-financial corporate debt pile is around N1.75 trillion, and at about 1.02 percent of gross domestic product, it has never been bigger. The pandemic...
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Video

Politics

Oyo PDP, APC Clash Over LAUTECH Takeover by Makinde’s Govt

The Peoples Democratic Party (PDP), Oyo State chapter, has commended Governor Seyi Makinde over what the party described as “matching every word with action...

Northeast Govs Call for More Projects From FG in 2021

The Northeast Governors Forum has called for execution of more Federal Government capital projects in 2021 to ensure rapid development of the region. The forum...

Gowon: Allegation of Looting Nigeria’s Treasury Baseless

A former military Head of State, General Yakubu Gowon (rtd), has described the allegation that he looted half of the Central Bank of Nigeria...

Hot topics

Stanbic IBTC, ARM, Premium Have Top Pension Assets under Management

Stanbic IBTC, ARM and Premium Pensions had the top Pension Assets under Management (AuM) in the country as at December 2019, according to the...

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Insurance Hub

NAICOM Issues New Insurance License to Five Companies

Industry regulator, the National Insurance Commission (NAICOM) today handed over five new operational insurance licenses to four insurance companies and one reinsurance company. The insurance...

Auditors Cast Doubt on International Energy Insurance Existence

The auditors of International Energy Insurance have warned that the existence of a material uncertainty may cast significant doubt on the company’s ability to...

 AIICO Insurance to Hold Annual General Meeting Dec 08

The 50th Annual General Meeting (AGM) of AIICO Insurance Plc will be held on Tuesday, December 8, 2020 at Radisson Blu Hotel, 38-40 Isaac...

AIICO Insurance’s Underwriting Conditions Worsen as Losses Hit N22.43bn

The underwriting conditions of AIICO Insurance are fast deteriorating as the bigger threats to the company’s balance sheet are low yield environment and the...

Mutual Benefit’s Underwriting Portfolio Hit by Covid-19 as Profit Slumps

The underwriting portfolio of Mutual Benefit Assurance has been impacted by the coronavirus pandemic as mounting obligation to policy holders’ impacted negatively on profit. For...

Markets
Latest

Stanbic IBTC, ARM, Premium Have Top Pension Assets under Management

Stanbic IBTC, ARM and Premium Pensions had the top Pension Assets under Management (AuM) in the country as at...

NAICOM Issues New Insurance License to Five Companies

Industry regulator, the National Insurance Commission (NAICOM) today handed over five new operational insurance licenses to four insurance companies...

Facebook’s Libra to reportedly launch in January 2021 as USD stablecoin

The long-awaited digital currency Libra from Facebook could finally see the light of day as soon as January 2021,...

Nigerians Can Apply as Molai Launces $1m Fund for African Entrepreneurs

Africa industrialist Adam Molai has launched a $1-million fund to provide entrepreneurs with capital to kickstart or expand their...

ValuAlliance Value Fund Proposes N10 per Unit Distribution

The ValuAlliance Value Fund, formerly called the SIM Capital Alliance Value Fund is proposing a distribution of ₦10.00/unit, for...

Sport

British Govt Okays Liverpool, London Clubs to Welcome Fans Back Into Stadium

Premier League clubs in Liverpool and London will be able to welcome some supporters back into their stadiums after the Government announced which tiers...

Maradona Died of Heart Failure – Reports

A preliminary autopsy reportedly leaked to the Argentine press has revealed that Diego Maradona died of heart failure. The footballing legend passed away at his home...

Football Legend Diego Maradona Dies at 60

The legendary Argentinian footballer Diego Maradona has died at the age of 60, the Argentinian football association has said. Maradona, who captained Argentina's 1986 World...
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Crypto

Bitcoin Price Falls Back Under $17,000 as Whale Deposits Spike

The price of Bitcoin (BTC) dropped below $17,000 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange...

Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate

A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s...

Must Read

Real financial journalism at its best!

MTN Nigeria is Coming for Banks and They Should be Scared

MTN Nigeria the largest telecommunications firm in the country is quietly building up its mobile money and Fintech business and Banks should be worried...

Auditors Cast Doubt on International Energy Insurance Existence

The auditors of International Energy Insurance have warned that the existence of a material uncertainty may cast significant doubt on the company’s ability to...

GTB’s Market Cap Surpasses Entire Tier-2 Lenders on Supercharged Rally

Guaranty Trust Bank (GTB) stock has soared by 26 percent in the past one-month alone which has helped propel the tier-one financials market capitalisation...

Coronavirus sends Nigeria Hotels into Tailspin as Revenues Slump

The Coronavirus has affected every sector across the globe, and the hotel industry is among the hardest hit. The outbreak of the deadly coronavirus that...

Trump vs Biden: How Little Known Mathematical Proof Can Detect any Electoral Fraud

The American mainstream media yesterday launched a coordinated effort to proclaim Joe Biden as President-Elect as projections have been made that the former Vice-President to Barack...
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Energy

Tullow Oil to Focus on West Africa Operations

Tullow Oil is to focus on its core assets in west Africa as part of a plan to boost cash generation and secure the...

Oil Prices hit Highest Level Since March on Vaccine Hopes

Oil prices touched their highest level since March on Tuesday, after a raft of positive vaccine news sparked a comeback in one of the...

Buhari Commissions 5,000 Bpd Waltersmith Modular Refinery

President Muhammadu Buhari has officially commissioned the 5,000 barrels per day Waltersmith Modular Refinery in Imo State. Waltersmith Petroman Oil Ltd., is a Nigerian independent...

Economy
Latest

Telco’s, Manufactures Lead N416bn Company Income Tax Payment in Q3

Telecommunications and manufacturing firms led in the payment of company income tax (CIT) in the third quarter (Q3) of...

Nigeria to Reopen Land Borders Soon – Finance Minister

Nigeria's finance Minister Zainab Ahmed has said that President Muhammadu Buhari will soon reopen the borders. The reopening of the...

Nigerian Central Bank Holds Key Policy Rate at 11.5%

Nigeria’s central bank held its key monetary policy rate (MPR) at 11.5 percent on Tuesday, its governor Godwin Emefiele...

FG Reveals Plan to Tackle Recession

The Federal Government on Monday explained some of the measures being adopted to help get the country out of...

Wealth

Nigerians Can Apply as Molai Launces $1m Fund for African Entrepreneurs

Africa industrialist Adam Molai has launched a $1-million fund to provide entrepreneurs with capital to kickstart or expand their enterprises, in a massive boost...

ValuAlliance Value Fund Proposes N10 per Unit Distribution

The ValuAlliance Value Fund, formerly called the SIM Capital Alliance Value Fund is proposing a distribution of ₦10.00/unit, for the financial year ended 30th...
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Technology

Payments Lead Nigeria’s 200+ Fintech Environment with $560mn in Funding

Nigeria is home to 200+ FinTechs, whose activities are primarily focused on payments with increased activities in the lending and savings space. This is...

9mobile Piggy-Backs on MTN Network to Reach Customers

MTN Nigeria Communications PLC has gone into a national roaming partnership with 9mobile and the pilot run in Ondo State is currently live. This partnership...

Nigeria’s CcHUB Acquires Kenyan EdTech Company – eLimu

Co-creation Hub (CcHUB) has acquired eLimu, a leading EdTech firm and digital educational content provider in East Africa. The goal of the acquisition is to...

Court Grants Ali Ndume Bail

Justice Okon Abang of The Federal High Court in Abuja has granted bail to the Borno South Senator, Ali Ndume. Ndume has been detained in...

Jupiter, Saturn Will be Like a Bright Star Before Christmas as Mentioned in the Bible

The alignment of Jupiter and Saturn will appear in the skies on December 21, the winter solstice. This rare event in the heavens just ahead...

Meghan Markle, Duchess of Sussex, Reveals Miscarriage of Second Child

Meghan Markle, the Duchess of Sussex, has miscarried her second child with Prince Harry in July, said the Duchess in a detailed essay to...

Family of Slain Vendor Demands N500m from Gbajabiamila

The family of Ifeanyi Okereke, the vendor killed by a security aide of Femi Gbajabiamila, speaker of the house of representatives, is demanding N500...

Nigeria Current-Account Deficit Narrows to -$3.23bn in Q2, 2020

Nigeria’s Current-Account deficit narrowed in the Second Quarter (Q2) of 2020 as exports again dropped faster than imports amid a global economic slowdown caused...

Buhari’s Dismal Economic Record Means 7 Years of Pain for Investors

Nigeria’s economy will not eclipse the highs it attained in 2015 until the year 2022, a 7 year gap that signals the dismal economic...

CBN Breaks Own Rules in ‘Ways and Means’ Advances to FG

The Central Bank of Nigeria (CBN) is breaking its own rules regarding Ways and Means Advances extended to the Federal Government (FG), MoneyCentral analysis...

Nigeria’s N15.4 Trillion Domestic Debt Binge Getting Cheaper to Finance

Nigeria's Federal government is binging on domestic debt which hit a record high as at June 2020, but one positive for policymakers in Abuja...

What to Know About Dangote Cement Share Buyback Plan

Dangote Cement announced a share buyback program late last year that intends to repurchase up to 10 percent of outstanding float of the company. A share...

A Guide to Money-Market Mutual Funds

For years, money-market mutual funds have offered better returns than bank deposits (even with the current slide in fixed income yields). They are also just...

What to Watch as Banks Unveil Q2 Earnings

Nigerian Banks will any moment from now begin to unveil second quarter (Q2), 2020 earnings and investors will be keen to dissect the numbers...

What Dangote Cement Plans to Do with Proceeds of its N100bn Bond

Dangote Cement just issued its Series 1, N100 billion, bond as part of a N300 billion Shelf program it filed with the regulators. The Cement...