Regency Alliance Insurance Plc expanded total holdings by almost 16 percent to 21.857 billion naira during 2024, compared with 18.848 billion naira the year before, Chairman Clem Baiye told investors gathered for the firm's 31st annual shareholder meeting held in Lagos. Equity attributable to owners jumped nearly 19 percent to 14.044 billion naira while insurance receipts climbed above 7.3 billion naira, reflecting a 20 percent advance over prior results. The insurer generated 2.254 billion naira in after-tax profit, marking a 17 percent gain from 1.931 billion naira recorded during 2023 as investment returns reached 1.165 billion naira.
Directors approved the distribution of one bonus share for every three held by stockholders and...
Capital Express Life Assurance Limited posted revenue of 14.11 billion naira for 2024, marking a 53 percent jump from 9.22 billion naira the previous year as capital investments and returns from financial holdings drove expansion. Insurance revenue climbed 32 percent to 7.2 billion naira while gross premium collections reached 9.35 billion naira during the 12 months ending December 31. The firm generated 303 million naira in after-tax earnings and expanded total assets by 34 percent to 24.38 billion naira. Claim disbursements rose 44 percent to 3.97 billion naira from 2.76 billion naira in 2023.
Board Chairman Ademola Adenuga credited management and employees for navigating currency instability, rising prices and volatile oil markets...
The Nigerian Council of Registered Insurance Brokers plans to expand coverage across the country by capitalizing on new legislation that mandates additional insurance products, according to the organization's incoming leader.
Ekeoma Ezeibe, who becomes the council's 23rd president, told reporters in Lagos that her administration will use regional committees to drive awareness campaigns beginning in Abia State. She selected that location because of economic activity centered in Aba, a manufacturing center experiencing infrastructure improvements under Governor Alex Otti. Ezeibe said awareness levels remain stronger in southwestern regions compared with commercial areas in the southeast despite significant business operations there. The...
Pension savings accumulated during a worker's career remain accessible to family members after death under Nigeria's retirement system, according to the chief executive of Pension Fund Operators Association of Nigeria.
Oguche Agudah explained that designated beneficiaries can claim funds from Retirement Savings Accounts managed by Pension Fund Administrators and overseen by the National Pension Commission. Legal heirs differ from next of kin listed on account paperwork, as those contact persons handle administrative tasks rather than inherit benefits automatically. Workers who die before retirement leave their full account balances plus investment returns to named beneficiaries. Survivors must submit death certificates, identification...
Retired government workers have aired concerns about payment discrepancies and processing delays with pension officials during a recent exchange.
The Pension Transitional Arrangement Directorate told one beneficiary that an additional 32,000 naira per month reaches most recipients but excludes those who worked at PHCN, Peoples Bank, NICON Insurance, Nigerian Reinsurance, NITEL, PTI, and Assurance Bank. Samuel asked why his monthly benefit decreased from 17,000 naira to 9,000 naira after leaving service at grade level 9. Agency staff said documentation shows correct payment amounts and asked him to submit banking records from six months before his September 1993 retirement. Osuwa expressed dissatisfaction about collecting under 27,000...
President Bola Tinubu has named Dr. John Nwabueze as Nigeria's Tax Ombudsman under the Joint Revenue Board of Nigeria (Establishment) Act, 2025. The federal government described the decision as part of efforts to build trust and fairness within the nation's revenue collection system. Nwabueze previously worked as managing partner at a prominent tax consulting practice and advised legislative committees overseeing the Federal Capital Territory and Finance. He also counseled the chief economic adviser during Olusegun Obasanjo's presidency.
The new officeholder earned a doctorate in business administration with a finance concentration from Walden University in Minneapolis and holds graduate and undergraduate degrees in accounting and...
Islamic finance could help address Nigeria's infrastructure shortfall and deliver broader economic advantages to citizens, according to public policy and economic finance specialists who gathered on Thursday in Lagos.
Experts speaking at the 7th African International Conference on Islamic Finance agreed that such financial systems can drive equitable and lasting economic change throughout Africa. Vice President Kashim Shettima, represented by presidential economic adviser Tope Fasua, said demographic strengths across the continent must result in fair prosperity for all residents. He highlighted economic reforms under President Bola Tinubu that have stabilized markets and restored investor trust. Nigeria has combined exchange rates...
Nigerian Exchange Group Plc will distribute one naira per share to investors as an interim dividend payment following board approval of third-quarter financial results through September 30, 2025.
Shareholders registered by the close of business on Friday, November 7, 2025, qualify for the payout, which the company plans to transfer electronically on Tuesday, November 18, 2025. Board Chairman Alhaji Umaru Kwairanga described the announcement as evidence of management's belief in the organization's financial strength and ability to generate profits while maintaining its record of regular payments to investors. Group Managing Director Temi Popoola emphasized that shareholder interests guide every major decision at the exchange operator...
MultiChoice has reduced the price of its DStv decoder from 10,000 naira to 7,900 naira and its GOtv decoder from 9,900 naira to 6,500 naira, effective November 1. The cuts mark the second significant adjustment this year and aim to widen access to premium television as the holiday season approaches.
The latest reductions follow a June campaign that halved DStv decoder costs from 20,000 naira and lowered GOtv prices from 18,600 naira. Marketing head Tope Oshunkeye said the company remains committed to offering affordable entertainment, allowing more households to enjoy local and international programming without increasing financial strain.
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