Insurers Losing Oil, Gas Premiums To Foreigners – NAICOM       The Commissioner for Insurance, Mr Sunday Thomas, has said the essence of the local content law is not being realised in the insurance sector because many businesses in the aviation and oil and gas sectors were...

Parallel Market Responds To Devaluation, As Dollar Trades At N500       The parallel market has responded to the fresh devaluation of the naira amidst growing foreign exchange illiquidity. The local currency weakened to N500/$ at the black market at the weekend. The Central Bank of Nigeria (CBN)...

EndSARS: CNN Retracts 1 of 101 Fake News Identified by PRNigeria     American news-based television channel, Cable Network News (CNN), has retracted its initial report, which claimed that troops of the Nigerian Army killed 38 EndSARS protesters at the Lekki Tollgate in Lagos State. Dubbed "Lekki Massacre"...

Senate Seeks Additional N9bn For Nigeria Railways       The Senate on Thursday, demanded additional N9bn for the Nigeria Railways Corporation in the 2021 budget. The Chairman, Senate Committee on Marine Transport, Senator Danjuma Goje, said this after submitting the 2021 budget report of the Marine Transport and...

Fed Govt Can No Longer Bear Electricity Tariff Shortfalls – Buhari         President Muhammadu Buhari, has said the tariff shortfalls in the power sector being borne by the Federal Government are no longer sustainable. Buhari said this on Thursday at the inauguration of Eko Electricity Distribution Company’s...

NAICOM To Sanction Insurance Firms Over N40bn Unpaid Claims       The National Insurance Commission (NAICOM) said it is compiling the list of insurance companies for necessary regulatory sanctions over unsettled claims which industry experts have estimated to be over N40 billion. Commissioner for Insurance, Sunday Thomas, speaking...