Lagos recovers N50m over fraudulent real estate activities
Image Credits: NAN. The Lagos State Government on Tuesday said it had recovered more than N50 million from parties involved in illegal real estate transaction activities. Mrs Toke Benson-Awoyinka, Special Adviser to Gov. Babajide Sanwo-Olu on Housing, made the disclosure during a news conference in Ikeja. It was to give account of activities in the Read More…
Business & Economy
Insurance companies pay N4bn #EndSARS claims – NIA
The Nigerian Insurers Association (NIA) said insurance companies paid N4 billion as claims arising from over 2,000 businesses affected by the #EndSARS protests. Mr Ganiyu Musa, Chairman, NIA, disclosed this at a news conference in Lagos on Thursday. Musa also assured customers that all genuine claims emanating from the protests would be paid. He said insurance operators were still collating claims stressing that every genuine claim would be settled. “The number of insured businesses that were affected at the last count was about 2,000 insured loss and the industry have settled N4 billion claims out of N4.5 billion in respect of the #EndSARS protests. ”Indices drop further by 0.81% at NGX
Key indices of the Nigerian Exchange (NGX) dropped further by 0.81 per cent on Thursday to extend bearish transactions to three consecutive trading sessions. Consequently, the All-Share Index lost 319.08 points or 0.81 per cent to close at 39,114.73 against 39,433.81 on Wednesday. All share index as at 6th May 2021 Also, the market capitalisation shed N167 billion or 0.81 per cent to close at N20.470 trillion from N20.637 trillion on Wednesday. The bearish sentiment was sustained on price depreciation in large and medium capitalised stocks amongst which are; MTN Nigeria Communications (MTNN), Dangote Cement, BOC Gases, Red Star Express and SCOA. Market watchers attributed
Lagos Commodities Exchange set to list first gold instrument
The Lagos Commodities and Futures Exchange (LCFE) has concluded plans to admit Dukia Gold‘s diversified financial instruments, backed by gold as the underlying asset in a sector worth over N300 trillion. Dukia Gold Chiarman, Mr Tunde Fagbemi, said this at a media parley on Thursday in Lagos. The Lagos Commodities & Futures Exchange Fagbemi said the instruments which would be in the form of Exchange Traded Notes (ETN), Commercial Papers (CP) and other gold-backed securities would enable the company deepen the commodities market in Nigeria. He added that it would increase capacity, generate foreign exchange for the government to diversify external reserves and createSports
Former Manchester United player Giggs pleads not guilty to assault
Image Credits: Julian Hamilton/Daily Mirror. Former Manchester United footballer Ryan Giggs has denied the charge he was violent and engaged in behaviour towards his ex-girlfriend including isolation, belittling, humiliation, harassment, degradation and abuse. A court heard on Wednesday. Giggs, 47, also entered a not guilty plea of actual bodily harm to PR executive Kate Greville, Read More…
Weak and tattered, 29 students freed in Nigeria’s Kaduna
Image Credits: Channels TV, REUTERS/Afolabi Sotunde. Kidnappers have released the remaining 29 students they were holding captive on Wednesday, nearly two months after abducting them from a forestry college in Nigeria’s Kaduna state. Gunmen took 39 students from the Federal College of Forestry Mechanization in northwest Nigeria on March 11 and previously released 10 of Read More…
35 killed in Gaza, 5 in Israel, as violence escalates
Image Credits: REUTERS/Amir Cohen. In picture above: Streaks of light are seen as Israel’s Iron Dome anti-missile system intercept rockets launched from the Gaza Strip towards Israel, as seen from Ashkelon, Israel May 12, 2021. REUTERS/Amir Cohen Hostilities between Israel and Hamas escalated on Wednesday, with at least 35 killed in Gaza and five in Read More…
Okonjo-Iweala, WTO boss calls for agreement for fair access to Covid jabs
Image Credits: Denis Balibouse/Pool/AP, REUTERS/Dado Ruvic/Illustration. U.S. reverses stance, backs giving poorer countries access to COVID vaccine patents The World Trade Organization chief called Wednesday for international agreement on how to ensure more equal access to Covid-19 vaccines, amid an ongoing standoff over a proposed patent waiver for the jabs. “The way the WTO handles Read More…
