Coronation Group, a leading investment and financial services company, has officially launched a breast cancer awareness campaign aimed at educating the public about the disease, its early detection, and the importance of regular screening. This initiative is part of the group’s broader commitment to health and wellness in the communities it serves, recognizing the critical role of awareness in combating breast cancer, which remains one of the leading causes of cancer-related deaths among women globally. Raising Awareness and Understanding Breast Cancer Breast cancer awareness campaigns are vital in increasing understanding about the disease, its risk factors, and the need for…
Author: Temitope N.
Minority shareholders have expressed support for the recent intervention by the National Insurance Commission (NAICOM) in taking over African Alliance Insurance Plc. This development, which has generated widespread attention in the insurance sector, is seen by shareholders as a decisive move to protect their interests, restore operational stability, and ensure the company’s long-term viability. The intervention comes amid financial challenges that had significantly affected the company’s performance and raised concerns over its ability to meet its obligations to policyholders and investors. Background on NAICOM’s Intervention The National Insurance Commission, the regulatory authority overseeing Nigeria’s insurance industry, stepped in to take…
A recent report by the United Nations Conference on Trade and Development (UNCTAD) has highlighted a significant 20% increase in port calls across Nigeria and several other African countries. This growth, noted as one of the most substantial globally, reflects an ongoing surge in trade and economic activity within the continent, further positioning African ports as emerging hubs in global shipping routes. For Nigeria, this uptick indicates promising developments in logistics and trade infrastructure as the nation seeks to expand its role within Africa and the global economy. Trade Growth in African Ports According to the UNCTAD report, the increase…
The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) has appointed a new registrar as part of its efforts to enhance governance and foster growth in the nation’s freight forwarding industry. This new leadership aims to bring fresh perspectives to a sector that plays a critical role in Nigeria’s economy, especially as the country positions itself to become a major logistics hub in West Africa. The appointment underscores CRFFN’s commitment to regulatory excellence, professionalism, and improved services in the freight forwarding industry. Key Goals for the New Registrar The new registrar’s role is pivotal in advancing the council’s…
In a moment of pride for Nigeria’s media landscape, the publisher of *Naija Times* has been awarded the prestigious Roehampton Award for outstanding contributions to journalism. The accolade, presented by the University of Roehampton, recognizes individuals who have made significant impacts in journalism, advocating for truth, integrity, and the advancement of press freedom. This honor underscores the increasing influence of Nigerian journalism on the global stage and highlights *Naija Times* as a voice for ethical reporting and social impact. Championing Journalism with Purpose *Naija Times* has established itself as a pioneering news platform in Nigeria, known for its bold reporting,…
Following the recent setbacks with Nigeria Air, the Nigerian government is making renewed efforts to revive a national carrier, aiming to bring a fresh airline to the country’s skies with the promise of a robust strategy and heightened commitment. This renewed momentum reflects a dedication to developing Nigeria’s aviation sector and addressing past challenges that led to the Nigeria Air project’s collapse. With support from key stakeholders and a revised approach, the government hopes to establish a resilient and competitive airline that can meet Nigeria’s aviation needs. Learning from the Past: What Went Wrong with Nigeria Air The Nigeria Air…
As the local government elections in Abia State approach, the Abia State Electoral Commission has made a strong commitment to ensuring that the electoral process is conducted transparently and fairly. This announcement comes at a crucial time as stakeholders, including political parties, civil society organizations, and voters, express concerns about the integrity of the electoral process. Commitment to Electoral Integrity The Chairman of the Abia State Electoral Commission, in a press briefing, reiterated the commission’s dedication to maintaining a free and fair electoral environment. He stated that the commission is fully prepared to implement measures that will guarantee transparency throughout…
The Elumelu Foundation, established by Nigerian entrepreneur Tony Elumelu, has announced its commitment to support 20,000 African startups through a substantial seed funding initiative. Each selected startup will receive a grant of $5,000, aimed at fostering entrepreneurship and economic growth across the continent. This move reflects the foundation’s ongoing dedication to empowering young entrepreneurs and promoting sustainable development in Africa. Empowering Entrepreneurs for Economic Growth Tony Elumelu, a prominent figure in the African business landscape and the founder of the Tony Elumelu Entrepreneurship Programme (TEEP), believes that entrepreneurship is vital for Africa’s economic transformation. The Elumelu Foundation’s initiative aims to…
Moniepoint, a leading fintech company based in Nigeria, has recently attained unicorn status after securing an impressive $110 million in funding from notable investors, including Google and Development Partners International (DPI). This significant milestone not only underscores the rapid growth and potential of Moniepoint but also highlights the increasing interest in Africa’s burgeoning fintech landscape, which is attracting global attention and investment. The Journey to Unicorn Status Founded in 2015, Moniepoint has quickly emerged as a pivotal player in the Nigerian fintech space, providing a range of financial services designed to empower small and medium-sized enterprises (SMEs) and enhance financial…
Aliko Dangote, the prominent Nigerian businessman and founder of Dangote Group, has made a compelling case for the Nigerian National Petroleum Corporation (NNPC) and fuel marketers to halt fuel imports, asserting that Nigeria possesses sufficient domestic resources to meet its fuel needs. His remarks come in light of ongoing discussions about Nigeria’s energy sector, particularly the challenges posed by fuel scarcity, import dependencies, and the need for self-sufficiency in energy production. The Call for Self-Sufficiency Dangote’s statement emphasizes the need for Nigeria to leverage its vast oil reserves and refining capabilities to eliminate its reliance on imported fuel. Despite being…
Germany has announced a significant pledge of €150,000 aimed at improving hygiene standards in developing economies. This commitment reflects Germany’s ongoing dedication to global health initiatives and its recognition of the critical role that hygiene plays in promoting public health, preventing disease, and enhancing overall quality of life in underserved communities. The funding is expected to support various projects that focus on hygiene education, access to clean water, and the establishment of sanitation facilities, which are essential for reducing the spread of infectious diseases. A Focus on Global Health and Hygiene The decision to allocate funds for hygiene improvement in…
United Capital Plc, one of Nigeria’s leading financial and investment services groups, recently celebrated a significant achievement, winning a coveted award at the 2024 BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Recognized for excellence in finance and investment, the award has underscored United Capital’s influence in the sector and, according to Group CEO Peter Ashade, has further strengthened the firm’s resolve to deliver impactful financial solutions. Ashade expressed that the accolade serves as both a testament to the firm’s efforts and a motivating force to pursue even higher standards in financial services. A Milestone Achievement at the BAFI Awards…
In a move aimed at enhancing the safety and confidence of Nigerian bank depositors, the Senate has passed a significant bill to bolster the Nigeria Deposit Insurance Corporation (NDIC) in protecting depositors’ funds. The revised NDIC Act grants the agency greater regulatory powers to safeguard deposits and improve financial stability in the banking sector. This bill, if assented to, will ensure more robust coverage for bank customers, mitigating risks associated with banking operations and economic uncertainties. Key Provisions of the New NDIC Bill The new NDIC bill introduces a series of reforms aimed at safeguarding depositors’ interests and minimizing the…
Amidst Nigeria’s rising inflation, Norrenberger Asset Management has recommended mutual funds as an effective investment tool for individuals seeking to safeguard their financial portfolios and enhance returns. With inflation eroding purchasing power, the asset management firm suggests that mutual fund investments offer a reliable way to diversify, access professional management, and potentially yield returns that can outpace inflation. Mutual Funds: A Buffer Against Inflation With inflation levels in Nigeria steadily increasing, many individuals have been searching for investment avenues that can protect the value of their money over time. Norrenberger Asset Management’s recent push for mutual funds is based on…
The Federal Competition and Consumer Protection Commission (FCCPC) has announced plans to sanction banks in Nigeria for recurring service disruptions that have impacted millions of customers nationwide. In recent months, customers have reported a surge in issues such as failed transactions, delayed payments, and inaccessible banking apps, with these outages often lasting for extended periods without adequate customer support or resolution. Customer Complaints on the Rise FCCPC’s decision follows an increasing volume of complaints from bank customers facing challenges such as failed ATM transactions, long downtimes in mobile banking platforms, and delays in processing funds. These disruptions have frustrated many…
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has called on Nigerian workers across public and private sectors to maintain integrity and foster a corruption-free work environment. Speaking at a recent forum, ICPC officials emphasized the critical role employees play in combating corruption, urging them to uphold ethical standards in their daily operations to build a more accountable and transparent Nigeria. Reinforcing Anti-Corruption Measures The call from the ICPC comes amid increasing concerns over workplace corruption, which continues to impact productivity, government effectiveness, and trust in public institutions. The commission reminded workers that anti-corruption efforts are essential not…
A recent report highlights that the World Bank’s investments across Africa have surged to an impressive $38 billion, underscoring the organization’s commitment to supporting economic stability, infrastructure development, and poverty alleviation on the continent. This funding represents one of the largest regional investments in recent years, focused on promoting growth in key sectors like energy, agriculture, health, and digital transformation. Expanding Economic Opportunities and Infrastructure A significant portion of the $38 billion has been directed toward infrastructure development, particularly in energy and transportation, to address foundational challenges impeding Africa’s growth. Limited access to electricity, for instance, continues to restrict economic…
Global cybersecurity leader Sophos has announced the acquisition of Secureworks, a deal valued at approximately $859 million. This move positions Sophos to expand its comprehensive suite of cybersecurity solutions, integrating Secureworks’ advanced threat detection and response capabilities into its already robust portfolio of security products and services. The acquisition marks a strategic push by Sophos to deepen its reach within the rapidly evolving cybersecurity landscape, as both companies aim to address the growing complexities of cyber threats faced by businesses worldwide. Enhancing Cybersecurity Capabilities and Threat Intelligence By acquiring Secureworks, Sophos gains access to the company’s expertise in managed detection…
The Nigerian Airspace Management Agency (NAMA) has extended its heartfelt condolences to the families affected by the recent tragic helicopter crash. The incident, which has left the entire aviation community in deep mourning, underscores the importance of continued efforts to enhance aviation safety standards in Nigeria. NAMA’s Director-General expressed profound sympathy and solidarity with the victims’ families, reiterating the agency’s commitment to support those impacted by the tragedy. “We extend our deepest condolences to the families, friends, and colleagues of those who lost their lives. This incident is a tragic reminder of the risks faced by aviation professionals, and our…
In a significant boost to Nigeria’s aviation sector, Xejet, a leading aviation service provider, has announced its plans to build a state-of-the-art aircraft maintenance facility in the country. This development marks a pivotal step towards enhancing the operational capacity of local airlines and improving the overall safety and efficiency of air travel in Nigeria. The new facility aims to meet international standards and provide a comprehensive range of maintenance services for various aircraft types. Strategic Investment in Aviation Infrastructure The establishment of the maintenance facility represents a strategic investment in Nigeria’s aviation infrastructure, which has faced challenges over the years…