Afreximbank takes annual meetings to Moscow in June

African Export-Import Bank (Afreximbank), foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade, is moving its annual meetings in 2019 from Abuja, Nigeria, where it held last year to the Russian capital, Moscow. The annual meetings for the bank are open to banking industry professionals, trade and trade finance practitioners […]

Dangote Cement releases 2018 financial results, proposes N16 dividend

Dangote Cement Plc has released its full year audited results for the year ended 31 December 2018,  recording a 91 percent increase in profitability and proposing a N16 dividend to investors. On the back drop of increased infrastructural development in a pre-election year, the company reported a revenue growth of 12 percent representing N901.2 billion […]

NAICOM approves Nigeria’s first full fledged micro insurance operator

The National Insurance Commission (NAICOM) has granted approval to GOXI Microinsuranoe Company Limited  to operate as a state composite micro insurance company. The approval gives the company authority to transact life and general micro insurance business in Lagos State only. It also makes the company, Nigeria’s first full fledged stand alone micro insurance operator, according […]

Nigerian insurers attract stable rating despite rising operating costs, claims expense

Confidence in the underwriting capacity of insurance companies operating in Nigeria has started attracting a boost from credit ratings agencies, affirming clients of the insurance firm’s stability, in the wake of stringent regulatory stance and anticipated capital enhancements. Although the industry continues to be plagued with pressure points such as rising claims expenses, high underwriting […]

Capital flow: Nigeria to attract $5.6bn portfolio investment in 2019

Capital inflow into the country from portfolio investors is projected at $5.6 billion (about N2 trillion) in 2019 says Emerging Africa Capital (EAC) group in its maiden Economic and Investment Outlook Report 2019, titled “Cautious Optimism”. According to the National Bureau of Statistics (NBS), portfolio investment which accounted for over 70 percent of total capital […]