2 mn read The adoption of Risk Based Supervision (RBS) in the insurance sector is seen as crucial for enhancing the stability, governance, and financial resilience of insurance companies. Mrs. Olufunke Adenusi, Managing Director of Colximate Insurance Brokers Limited, highlighted these points during the 2024 Insurance Industry Parley organized by the Chartered Insurance Institute of Nigeria (CIIN) in […]

< 1 mn read In May 2024, Nigeria’s average daily crude oil production decreased to 1.25 million barrels per day (bpd) according to data reported directly to OPEC. This figure represents a decline of 2.34% from April’s production level of 1.28 million bpd. Despite this reduction, Nigeria maintained its position as Africa’s largest oil producer, ahead of Libya which […]

2 mn read The Federal Road Safety Corps (FRSC) has called for an investigation into a fatal crash and emphasized the need for swift prosecution of the responsible driver. The accident, which occurred at approximately 7:00 PM, involved seven vehicles, including a black Toyota Matrix (ENU742NL), a white Suzuki Hijet mini-bus (ENU982XY), a Custom Toyota Highlander jeep (JRV247HK), […]

< 1 mn read The European Union’s top court, the European Court of Justice (ECJ), has imposed substantial penalties on Hungary for its failure to comply with EU asylum laws and its illegal deportation practices. The ECJ fined Hungary 200 million euros ($216 million) as a lump sum for its persistent non-compliance with EU regulations regarding asylum seekers. In […]