News

African insurers lose N1.8tr to offshore transfers

AFRICAN insurers’ lose about N1.78 billion ($5 million) annually in premiums transferred to reinsurance companies abroad. According to a special report obtained by Financial Vanguard on confidential basis, and data from African Insurance Organisation (AIO), the losses are stated as 19.7 percent of their non-life business and 2.5 percent of …

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Monthly IGR In Lagos Now N34 Billion – Ashade

Mr. Akinyemi Ashade, Lagos State Commission for Finance The Lagos State Government on Monday May 21st, 2018 said that it has so far achieved an average monthly Internally Generated Revenue (IGR) of N34 billion in 2018 compared to monthly averages of the last three years. Commissioner for Finance, Mr. Akinyemi Ashade who …

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Ambode: Lekki Free Zone, Africa’s Next Investment Destination

Lagos State Governor, Mr. Akinwunmi Ambode, yesterday noted that the sustained flow of investments to the Lekki Free Trade Zone (LFTZ) showed that the state’s free economic zone “is the next investment in Africa.” Africa’s richest man, Alhaji Aliko Dangote, buttressed Ambode’s claim, noting that the combined projects under different …

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