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Sterling Assurance grows profit by 32%

12.11.2024
Insurance company, Sterling Assurance Nigeria Limited, grew its profit before tax to N794m in the 2023 financial year from N601m in the preceding year, marking a 32 per cent appreciation. This was disclosed by the Chairman of the company, Dr Fatai Lawal, while presenting the 2023 financial report during its 25th Annual General Meeting in...
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Lottery commission seeks partnership for responsible gaming

12.11.2024
The National Lottery Regulatory Commission has called for stronger partnerships to advance responsible gaming practices and support Nigeria’s economic goals. This announcement was made at the NLRC’s 2024 Stakeholders’ Meeting in Lagos, themed “Strengthening Partnerships for Responsible Gaming and National Development.” The meeting brought together industry stakeholders, regulatory bodies, and institutional partners to discuss the...
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Weak purchasing power pushes unsold goods to N1.24tn – MAN

12.11.2024
The Manufacturers Association of Nigeria has stated its unsold manufactured goods have reached a record N1.24tn, as its unsold inventories increased by 357.57 per cent in the first half of 2024. MAN attributed this sharp increase to the declining purchasing power in the country caused by escalating inflation, subsidy removal, and naira devaluation. It disclosed...
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Air Peace gets four airplanes on lease

12.11.2024
Nigeria’s flag carrier, Air Peace, has agreed to dry-lease four Boeing 737-800 aircraft from Slovak carrier AirExplore to meet the high travel demand during the Yuletide period, The PUNCH can authoritatively report. A dry lease in aviation is an agreement where an aircraft is leased without crew, maintenance, or insurance. Dry leasing is a cost-effective...
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FirstBank trains new 365 salespersons

12.11.2024
FirstBank has boosted its sales team with the injection of 365 new salespersons who have completed intensive training at the bank’s training academy. At the Close-Out Party held recently to mark the completion of the FirstBank Sales Academy programme, it was indicated that the training was the first of its kind in the bank’s 131-year...
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Azura unveils solar-powered car park at UNN

12.11.2024
Azura Power West Africa will unveil a 240 kilowatt installation of solar car park at the University of Nigeria Nsuka on Tuesday, the company stated in a statement on Sunday. It said the ceremony will be performed by the Minister of Power, Adebayo Adelabu, as part of an initiative that aligns with Nigeria’s energy transition...
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Fuel price, flooding may drive inflation higher – Analysts

12.11.2024
Ahead of Nigeria’s October inflation data by the Nigerian Bureau of Statistics, it has been projected that inflation will remain high, driven by elevated fuel prices, currency depreciation, and flooding which disrupted agricultural activities. Researchers at Cowry Assets Management Limited said the inflationary pressure would remain high despite rate hikes by the Monetary Policy Committee...
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RoutePay expands access for under-banked businesses

12.11.2024
Fintech firm, RoutePay, says it has expanded access for under-banked individuals and Small and Medium Enterprises to the formal banking system through its digital platforms. In a statement on Sunday, the fintech firm said its digital services provide an array of products that target different market segments, demography, inclinations, and leanings. Routelink Group Managing Director,...
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Blackout in Calabar as windstorm destroys electric poles

12.11.2024
Some communities in Calabar, the Cross River capital, are currently in darkness following the destruction of many electricity poles by a windstorm. In a statement on Sunday, the Port Harcourt Electricity Distribution Company informed its customers in Calabar that the outage being experienced was due to the havoc caused by the windstorm. “We wish to...
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Petrol landing cost drops to N971/litre – Report

12.11.2024
The estimated cost of landing Premium Motor Spirit, commonly known as petrol, on Nigeria’s shores has seen a considerable reduction of 20.34 per cent, dropping to N971.57 per litre over the past three months. This decline in landing cost, which reflects the price of importing and distributing the product, indicates some relief in terms of...
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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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