Jun 21, 2010 Patience Saghana Custodian and Allied Insurance Plc recorded a gross profit of N2.02 billion for the year ended 31st December, 2009. The company’s gross premium increased by 29 per cent from N4.1billion in December, 2008 to N5.3billion in 2009.  The company holds the Nigerian National Petroleum […]
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Spring Bank post 136.25% loss in 2009 FYE, no dividend
By investadvocate June 21, 2010- 12:20 GMT  Spring Bank Plc (Springbank) has posted a loss of 136.25 percent (136.25%) in its 2009 Financial Year End (FYE) released on the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria. The bank made the loss when its Profit/Loss after […]
NAICOM discovers fraud in insurers’ annual reports
June 21, 2010  National Insurance Commission (NAICOM) has discovered accounting fraud in insurance annual reports. The commission has found out that most insurance companies failed to disclose their gross premium earned, reinsurance premium incurred, gross claims incurred and gross claims outstanding.  The regulatory body has also discovered […]
