By InvestAdvocate Lagos (INVESTADVOCATE)-Insurer, International Energy Insurance Plc (IEI) said it will divest its 81 percent equity stake from its pension subsidiary, IEI-Anchor Pension Manager. “We refer to Section 1.10 (b) (v) of the National Insurance Commission (NAICOM) Operational Guidelines (Insurers & Reinsurers) prohibiting Insurance companies in Nigeria from investing […]
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Transformation Strategy: Union Dicon Signs HOA with PNG Gas, to Acquire Rice Farming operations
In a continuation of its strategic plan to becoming a fully integrated Agro Industrial National champion, Union Dicon Salt has signed a Heads of Agreement with PNG Gas in Delta State to supply gas to its proposed starch processing plant in Umutu in Delta State. Furthermore, it is in final […]
Nigeria’s Skye Bank Downgraded To ‘CCC-‘ On Heightened Default Risk
11/7/2016 /S & P Global Ratings Culled—–Proshare We understand that Nigeria-based Skye Bank has breached some regulatory ratios, including the minimum capital adequacy and liquidity ratios. This has lead the Central Bank of Nigeria to intervene, suspending the bank’s board of directors and changing its top management on July 4, […]
