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FG raises group assurance allocation to N17.31bn

06.01.2025
The Federal Government has increased the allocation to group life assurance by 80 per cent in the proposed Appropriation Bill for 2025. Listed under the service-wide votes, the sum of N17.31bn was allocated to “group life assurance for all MDAs (including the Department of State Services/insurance of sensitive assets/members of the National Youth Service Corps,...
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Stanbic IBTC Insurance passes audit certification

06.01.2025
Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC Holdings, has announced that it has successfully passed a comprehensive audit. This has resulted in the issuance of an IQNET-recognised certificate confirming that the company has implemented and maintained a quality management system by DQS Holding. This system covers the scope of life insurance and fulfills...
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Rental income still low at 5% – Stakeholders

06.01.2025
The Chief Executive Officer of Casafina Development, Olufemi Seyi, has said rental income in Nigeria is typically low, averaging between 3 and 5 per cent. Seyi stated this at the unveiling of some housing units built by the company in Anthony Village, Lagos, recently. He noted, “Rental income in Nigeria is typically low, averaging between...
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Paucity of funds stalled Ilubirin Foreshore project – Developers

06.01.2025
Ilubirin Foreshore developers have disclosed that insufficient funding delayed the building project. A statement noted that the development sought to silence rumours of abandonment surrounding the project and reignite public interest in the ambitious scheme. It stated, “Initially stalled for years, the project was revitalised during the administration of former Lagos State Governor, Akinwunmi Ambode,...
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Real estate operator demands N50m, others from Customs

06.01.2025
The Chief Executive Officer of Pellican Valley Nigerian Ltd, Babatunde Adeyemo, has demanded the sum of N50m, a car replacement, and an apology letter from the Nigeria Customs Service following his near-death experience with a a trigger-happy customs officer. In a petition to the Comptroller, Nigeria Customs Service, Federal Operating Unit, Zone A, Ikeja, Lagos...
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Illegal connections, others cause 174 electricity-related accidents – NERC

06.01.2025
Illegal connections, wire snap,  vandalism, among others, caused 174 electricity-related accidents nationwide between January and September 2024, the Nigerian Electricity Regulatory Commission stated in its quarterly reports. This represents a significant 38 per cent increase compared to the 126 incidents reported during the same period in 2023, raising fresh concerns about safety standards in the...
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Equity market gained N1.25tn in one week

06.01.2025
The Nigerian Exchange gained N1.25tn in one week as the All-Share Index and Market Capitalisation appreciated by 1.42 per cent and 2.02 per cent, respectively, closing at 103,586.33 points and N63.166tn, respectively. Last week, investors recorded a turnover of 2.618 bn shares worth N69.742 bn in 47,953 deals across the four trading days, as the...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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