The National Insurance Commission (NAICOM) has noted that the policyholders have claimed N318.2 billion in the insurance industry as claims of their insurance policies as of the fourth quarter of 2022. The data was gleaned from the market statistics of the Fourth Quarter 2022 report released by NAICOM. The report revealed that there was remarkab ... Read more

The International Renewable Energy Agency (IRENA) has estimated that the world will need around $35 trillion for transition technology by 2030. Around 41 per cent of planned energy investments by 2050 remain targeted at fossil fuels, IRENA said, adding that “new investment decisions should be carefully assessed to simultaneously drive the ... Read more

The Chief Executive Officer of VerifyMe, Esigie Aguele, declared that artificial intelligence will help accelerate Africa’s drive towards achieving open finance and bridging the continent’s $120bn lending gap. Aguele made the projection while speaking on a TV business programme, Power Lunch West Africa, on CNBC at the weekend. He ... Read more

The Nigerian Shippers Association has disclosed that 68 per cent of Nigerian-bound cargoes worth N825bn have been trapped at different ports around the world due to the ongoing cash crunch in Nigeria. A member of the Board of Trustees of NSA, Jonathan Nicol, in a telephone conversation with a correspondent in Lagos on Monday, also said that many ... Read more

Diamond Aircraft, a leading aircraft manufacturer, has disclosed its plans to expand and invest into Africa with a focus on Nigeria. The company, which has over 6,000 aircraft flying worldwide, has not had a clear strategy for Africa until now. The Chairman, Diamond aircraft, Bin Chen, disclosed this over the weekend when he led his team on a ... Read more

Investors recorded lost of N622bn at the close of trading on Monday due to sell-offs of some telecoms and banking stocks. The market which opened with the All-Share Index at 54,892.53 lost 2.08 per cent to close 53, at 750.77. The market capitalisation also depreciated by 2.08 per cent to N29.281tn. In terms of volume, a total of 100.882 mill ... Read more