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Nigerian Insurance Companies Get Recapitalisation Deadline 

The National Insurance Commission (NAICOM) has extended the recapitalisation deadline for Insurance and Reinsurance Companies earlier slated for June 30, 2020 to December 31, 2020. A circular with No: NAICOM/ DPR/CIR/25-03/2019 /DECEMBER 30, 2019 signed by Mr Pius Agboola, Director, Policy and Regulation, NAICOM for the Acting Commisioner for Insurance, Mr Sunday

Opay, Max.ng May Go As Lagos Decides On Okada, Tricycle Operation 

The Lagos State Government is expected to make a declaration tomorrow (Tuesday) on commercial motorcycle and tricycle operation in the state. The state governor, Babajide Sanwo-Olu, said the state executive council, on Monday, discussed extensively on the “menace” of commercial motorcycles (Okada) and tricycles popularly known as Keke Marwa. Daily Trust reports

Pound slides on Brexit woes

The pound struck multi-month lows versus the dollar and euro Friday on renewed prospects of a no-deal Brexit after Britain’s Labour opposition pulled out of key talks with Prime Minister Theresa May. The pound unravelled to $1.2752, the lowest point for four months. The euro hit a three-month high at 87.60

FIRS To Impose VAT On Online Transactions In Nigeria

The Federal Inland Revenue Service, FIRS, says it will soon begin collection of Value Added Tax, VAT, on online transactions. Babatunde Fowler, the chairman of the agency, made the disclosure in an interview with the News Agency of Nigeria, NAN, in New York on Saturday, May 18, 2019. “Soon, we will ask

Thailand To Establish Rice Mills In Nigeria – Minister

The Federal Government on Sunday announced that Thailand had commenced moves to establish rice mills in Nigeria . The Minister of Information and Culture, Lai Mohammed , disclosed this during a tour of some rice farms in Kebbi State . He said the Federation Government had won its fight against rice importation,

Oil subsidy may return as cross-border losses hit N774m daily

The Nigerian National Petroleum Corporation (NNPC) is worried about the proliferation of fuel stations in communities at the nation’s borders which has led to an unprecedented smuggling of petrol to neighboring countries. This has made it difficult to sanitise the supply and distribution matrix in the country. The Group Managing Director

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