Unilever Nigeria to complete tea business separation by end of 2021
Charles AbuedeFebruary 25, 2021
By Charles Abuede Separation in line with global plan by parent firm Says separation will help it assess full range of options Following the announcement by Unilever Nigeria in August 2020 that it would commence the separation of its tea business as a stand-alone entity after it reviewed its strategy in January 2020, […]
Share illiquidity forcing Ellah Lakes’ majority owners to sell down 25%
Charles AbuedeFebruary 25, 2021
By Charles Abuede Ellah Lakes’ major shareholders are to sell down 25 per cent of the shares they hold in the company due to the company’s lack of liquidity in its shares and the deficiency of free float which currently stands at 14.55 per cent, and valued at N1, 236,333,070.75, according to a […]
Nigerian stock-fish dealers want access to foreign exchange
Onome AmugeFebruary 25, 2021
By Onome Amuge The Stock-fish Dealers Association has urged the federal government to grant stock-fish importers access to foreign exchange to ensure efficiency in conducting their businesses. Gregory Ilobinso, chairman of the association, bemoaned the challenges facing the stock-fish business as wholesalers, retailers, truck drivers and other stakeholders in the business have been affected […]
PenCom’s AuM data signals investment shift favouring corporate debt, equities
Charles AbuedeFebruary 25, 2021
By Charles Abuede Latest data from the National Pension Commission (PenCom), the pension industry regulator, showed that total assets under management (AuM) of the regulated pension industry increased by 20.3 per cent year-on-year to N12.3 trillion, about $30 billion at the end-December, from N12.29 trillion, or $31.3 billion as of the close of November […]
Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention
Ben EguzozieFebruary 25, 2021
CDS pledges to galvanize military to protect oil assets Nigeria is still losing 200,000 barrels of crude oil daily to vandalism, especially from its System 2B Pipeline, Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), has revealed. Another set of huge loses comes from theft from the […]
Positive buying sentiments in large-cap stocks drive up market cap, gifting investors N29.5bn
Charles AbuedeFebruary 25, 2021
By Charles Abuede The local equities market sustained its upbeat on Wednesday, helped by buying sentiments on large-cap stocks which drove the market northward due to buying interest in Wapco Plc (+3.5%), Zenith Bank (+1.2%) and GTBank (+1.0%). As a result, the benchmark index rose 14 basis points to 40,221.30 points, as the market […]
Wike blames NDDC’s woeful performance on meddlesomeness by Presidency, NASS
Ben EguzozieFebruary 25, 2021
Upper legislative chamber’s committee in PH for quango’s office inauguration Thursday They’re here to pack their share of the loot – civil society groups Commission reeks of sleaze as forensic audit work is thwarted Governor of oil-rich Rivers State, Nyesom Wike, has thrown the blames for the woeful performance of the Niger Delta […]
Nigeria to sell 170MW electricity capacity to Togo from Calabar plant
Ben EguzozieFebruary 24, 2021
To sell additional 100MW to Paradise City, Calabar Power part of Nigeria’s 3,742MW stranded power Nigeria is to sell 170 megawatts of electricity capacity to Republic of Togo, a West African and ECOWAS neighbour. The power described as “excess capacity,” is coming from the Niger Delta Power Holding Company (NDPHC) plant in […]
Global health insurance premiums fall amid pandemic, says new report
Zainab IwayemiFebruary 24, 2021
By Zainab Iwayemi International Private Medical Insurance (IPMI) premiums for both individuals and families have declined due to the COVID-19 pandemic, a survey carried out in 100 locations by Pacific Primes, a global health insurance brokerage has shown. The survey result shows that in 2020, out of 100 locations studied, up to 36 countries […]
Insurance M&A record highest growth in Africa, Middle East in 2020
Zainab IwayemiFebruary 23, 2021
By Zainab Iwayemi Mergers and Acquisition (M&A) insurance transactions in the Middle East and Africa grew the most in 2020 by 166.7 per cent, the latest edition of Clyde & Co’s Insurance Growth Report 2021 titled, “Finding opportunity in adversity”, has shown. According to the report the annual volume of global insurance deals in […]