Again, Nigeria Extends NIN-SIM Verification Deadline To October 31, 2021

The Federal Government of Nigeria has approved the extension of the deadline for the National Identification Number (NIN)-SIM data verification exercise to October 31, 2021. This was announced in a joint press release signed by the Head, Corporate Communications, Nigeria Identity Management, Mr Kayode Adegoke and Dr. Ikechukwu Adinde of the Nigerian Communications Commission. The statement explained that the decision to extend the deadline was made following a request by stakeholders to accommodate registration in hard-to-reach remote areas, foreigners and diplomatic missions, diaspora and address low enrolments in schools and…

Read More

BREAKING NEWS: NAICOM Approves New Board For NICON Insurance, Nigeria Reinsurance

The National Insurance Commission (NAICOM) has approved the new board and management of NICON Insurance Limited and Nigeria Reinsurance Corporation (Nigeria Re). The change is to enhance the smooth running, efficient and effective management of the two firms. This latest development was contained in a press release signed by Jude Nwauzor, Head, Corporate Communications Department at Asset Management Corporation of Nigeria (AMCON), and made available to the media early this Monday morning July 26, 2021. Nwauzor’s statement said the reason for the changes in the board and management of the…

Read More

AMCON Needs More Resolution Cost Fund Contribution From, NDIC, CBN – Senate

Chairman Senate Committee on Banking Insurance and other Financial Institutions, Senator Uba Sani (sitting 3rd from left); Managing Director/Chief Executive Officer AMCON Mr Ahmed Kuru (sitting 3rd from right), Senators Yakubu Oseni (Kogi Central) and Mohammad Bima Enagi (Niger South) sitting left and AMCON Executive Directors, Aminu Ismail and Dr Eberechukwu Uneze (sitting right), legislative officials and AMCON senior management staff in a group photograph at the end of the retreat, which held in Kaduna State The Chairman Senate Committee on Banking Insurance and other Financial Institutions, Senator Uba Sani…

Read More

China Stalling On More Infrastructure Support After $6.7Bn Loan To Nigeria

China is cautiously relating with Nigeria in fund deployment to help the country upscale infrastructure development especially in the transportation and energy sectors. Data reported by Oilprice.com shows that between 2000 and 2019, China had disbursed 19 loans worth a total of US$6.7 billion to Nigeria and its state-owned firms, with the transport sector leading, followed by the power sector. Lately, there is seeming backward retreat by Chinese investors in continuing Investment in the country. Currently, Chinese lenders haven’t yet disbursed US$1.8 billion that the Nigerian National Petroleum Corporation (NNPC)…

Read More

Miriam Olusanya Is New Guaranty Trust Bank First Female MD

Miriam Olusanya, First female MD of GTB Guaranty Trust Bank, which is a subsidiary of Guaranty Trust Holding Company Plc has announced the appointment of Miriam Olusanya as the first female Managing Director of the bank. This is according to a notice signed by the company’s secretary, Erhi Obebeduo, and sent to the Nigerian Exchange Group Limited (NGX). Miriam Olusanya has over 20 years experience that cuts across Transaction Services, Treasury, Assets and Liability Management. She joined Guaranty Trust Bank in 1998 and has been in charge of managing the…

Read More

NO CAVEAT EMPTOR: NICON Hotels Is For Sale – AMCON

The attention of Asset Management Corporation of Nigeria (AMCON) has been drawn to the false advertorial, which was published in some leading newspapers in Nigeria on Monday June 28, 2021. The advertorial WAS captioned, “Caveat Emptor: This Hotel is not for sale.” The public should disregard this misleading advertorial because NICON Hotel IS for sale. The hotel is under a Receivership/Manager appointed by AMCON following a protracted court battle between AMCON (Plaintiff/Applicant) and the trio of NICON Investment Limited, Global Fleet Oil & Gas Limited and Barrister Jimoh Ibrahim all…

Read More

The Secrets Of Intangible Wealth

By Ronald Bailey A Mexican migrant to the U.S. is five times more productive than one who stays home. Why is that? The answer is not the obvious one: This country has more machinery or tools or natural resources. Instead, according to some remarkable but largely ignored research — by the World Bank, of all places — it is because the average American has access to over $418,000 in intangible wealth, while the stay-at-home Mexican’s intangible wealth is just $34,000. But what is intangible wealth, and how on earth is…

Read More

‘Test Flight’: Flying Car Flies Between Airports

A prototype flying car has completed a 35-minute flight between international airports in Nitra and Bratislava, Slovakia. The hybrid car-aircraft, which is known as AirCar, is equipped with a BMW engine and runs on regular petrol-pump fuel. Its creator, Prof Stefan Klein, said it could fly about 1,000km (600 miles), at a height of 8,200ft (2,500m), and had clocked up 40 hours in the air so far. It takes two minutes and 15 seconds to transform from car into aircraft. The narrow wings fold down along the sides of the…

Read More

Economic Growth In Nigeria Under Muhammadu Buhari’s Administration World Bank

World Bank President, Mr David Malpass Nigeria Development Update (NDU) report by the World Bank has estimated that despite the country’s gradual recovery from the 2020 recession, Nigerian masses will continue to suffer the adverse effect of the economic downturn in Africa’s most populous black nation. A new report authored by the World Bank stated that a full decade of economic growth in Nigeria is likely to be lost by the end of 2021 under President Muhammadu Buhari’s administration. The international bank made it known that the country’s gross domestic…

Read More

As Promised, Air Peace Begins Lagos, Ilorin, Abuja Scheduled Flight Operations

Air Peace airline’s “no-city left-behind” policy, which the management of the airline designed to ensure connectivity across major cities in Nigeria has taken another positive step as the airline has commenced daily flight to Ilorin from Lagos and Ilorin to Abuja. The inaugural P47110 flight from the Murtala Muhammed Airport, Lagos landed at the Ilorin International Airport by 11:00 a.m and was welcome by stakeholders and Governor Abdulrahman Abdulrazaq of Kwara State who was represented at the event by the Deputy Governor of the State, Otunba Kayode Alabi. The National…

Read More