NDIC generated N91bn premium from banks in 2018

The Nigerian Deposit Insurance Corporation (NDIC) generated about N91 billion premium from deposit money banks (DMBs) in the 2018 fiscal year. Umaru Ibrahim, managing director of NDIC, stated this when the management of the organisation appeared before the House Committee on Insurance for the 2019 Budget Defence at the National Assembly, Abuja. He said though […]

Union Bank cuts bad loans by 61% in 2018

Non-performing loans (NPLs) for Union Bank of Nigeria Plc, has reduced by 61 percent in the one year period between 2017 and 2018 from 21 percent to 8.1 percent, Emeka Emuwa, managing director and CEO of the bank has revealed. Emuwa made this disclosure following the release of the banking group’s audited financial statements for […]

Commerzbank to decide on April 9 on merger talks with Deutsche

By Oluwaseun Afolabi, with agency report German business weekly, Wirtschaftswoche on Wednesday said, Commerzbank’s executive board is due to decide on April 9 whether to intensify merger talks with Deutsche Bank or back away from a deal. The magazine said Commerzbank’s management is scheduled to discuss how to proceed in the merger talks during its […]

Flexibility, easy access to savings, identified as perks of Nigeria’s new MPP

The newly introduced Micro Pension Plan (MPP) for the informal sector of the Nigerian Economy has taken into considerations peculiarities of the sector to ensure fluid participation, the National Pension Commission (Pencom) has explained. Peter Aghahowa, head corporate communications, Pencom who spoke with business a.m said that the considerations entails flexible contribution by the self-employed […]