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Guinea Insurance’s profit drops 69%

11.02.2025
Guinea Insurance Plc has reported a 69 per cent drop in its profit for the year ending December 31, 2024. According to its financial statement filed on the Nigerian Exchange on Thursday, the insurer posted a profit of N147.6m, down from N477.8m in 2023, reflecting a decline in its profitability over the period. The decline...
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VFD Group divests N7bn stake in Atiat

11.02.2025
VFD Group Plc has announced the divestment of its 57.26 per cent stake in Atiat Limited in a deal valued at over N7bn. In a notice filed with the Nigerian Exchange Limited by the Company Secretary of VFD Group, Gbeminiyi Shoda, recently, the company disclosed that its board approved the full divestment of 343,546,646 ordinary...
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IFRS 17 boosts transparency in insurance – Fitch

11.02.2025
International rating agency Fitch Ratings has said that the implementation of IFRS 17 has been a significant step towards increasing transparency and comparability in insurers’ financial statements. In a new report on its website, Fitch stated that although IFRS 17, effective since January 1, 2023, has not achieved full comparability, the financial statements of insurers...
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Nigeria’s data privacy breaches surge amid regulatory pressure

11.02.2025
SAMI TUNJI examines the surge in data privacy breaches in Nigeria, highlighting concerns over increasing cyber threats, non-compliance with the Nigeria Data Protection Act, and inadequate enforcement by regulators Nigeria has witnessed a sharp increase in cases of data privacy breaches despite heightened regulatory oversight by the Nigeria Data Protection Commission. The recently released 2024...
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Customs FOB charge to impose N2.84tn burden – NECA

11.02.2025
The Nigeria Employers’ Consultative Association has warned that the newly introduced four per cent Free On-Board valuation on imports by the Nigeria Customs Service will impose an additional N2.84tn in costs on businesses, worsening economic hardship for Nigerians. In a statement on Sunday, Director-General of NECA, Adewale Oyerinde said that with the country’s annual imports...
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NAICOM, NEMSA partner on electrical safety, insurance compliance

11.02.2025
The National Insurance Commission and the Nigerian Electricity Management Services Agency have entered into a historic partnership, signing a Memorandum of Understanding on electrical safety and enhancing insurance compliance. In a statement on Friday, the regulator said the MoU aims to establish a framework for mutual understanding and cooperation in achieving their regulatory obligations, prioritising...
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Air Peace, Ethiopian Airlines, others get sanction letters –NCAA

10.02.2025
Five airlines sanctioned by the Nigeria Civil Aviation Authority have officially received their sanction letters for various infractions, with further penalties under consideration. The Director for Consumer Protection and Public Affairs at the NCAA, Michael Achimugu, confirmed the development to our correspondent. “Yesterday, the five airlines received their letters of sanctions. The five airlines mentioned...
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NLC demands more dialogue on tax reform bills

10.02.2025
The President of the Nigeria Labour Congress, Joe Ajaero, has urged the government to engage in dialogue with the union on the Tax Reform Bill to allow its members to contribute their inputs. Ajaero made this known at the NLC secretariat, Agodi, Ibadan, during a dialogue on the Tax Reform Bill organised by the NLC...
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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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