Naira May Depreciate To 475/$, Says Rewane
The naira will weaken in the parallel market as oil prices stay at $40-$42 per barrel and likely depreciate to 470-475 against the dollar in November and December, the Managing Director/Chief Executive Officer, Mr Bismarck Rewane, has said.
Rewane...
Recapitalistion: Insurers Want NAICOM To Waive Dec Deadline
Insurance companies have urged the National Insurance Commission to waive the first phase of its segmented recapitalisation for the insurance and reinsurance companies scheduled to end by December 31, 2020.
They spoke during a meeting of insurance companies’...
#EndSARS Protest Disruption Costs Economy N1.5trn
The economic cost of the #EndSARS protest disruption is estimated at N1.5tn, approximately 1.03 per cent of the GDP and 11.47 per cent of the 2021 budget, Financial Derivatives Company Limited has said.
“This suggests that the economic recovery path...
Insurers Gave Free Riot Covers Before #EndSARS Protests – NAICOM
The Commissioner for Insurance, Mr Sunday Thomas, has said insurance companies gave free strike, riot and civil commotion covers to the customers due to competition before the #EndSARS protests that led to looting and wanton...
#EndSARS: National Assembly Pledges Budgetary Support For NPA
The management of the Nigerian Ports Authority has been advised to adjust their budget to reflect the damages suffered after the recent attack on it’s headquarters by hoodlums.
This was the suggestion made by a delegation of the...
Lagos Govt To Give Tax Break To Looted Businesses
Governor Babajide Sanwo-Olu of Lagos state has promised financial support and tax break to assist tenants and shop owners at the Circle Mall in Lekki after they were affected by the recent #EndSARS protests.
He made the...
