Business Tips

NAICOM rolls out digital insurance strategies to eliminate fake insurance

The National Insurance Commission (NAICOM) says it has rolled out some digitisation strategies through its new portal to transform the sector and improve insurance penetration.

Mr Abiodun Aribike, the Deputy Director in charge of Information Technology in NAICOM, said this on Friday in Uyo at a seminar for insurance journalists with theme: “Digital Transformation of the Commission and Market Development Initiatives’’.

Nigeria @ 60: Trade expert wants policies linked with development strategy

A trade and economic development law advocate, Dr Ken Ukaoha, says there must be synergy between Nigeria’s industry, trade and investment policies as well as its development strategy to realise desired economic growth.

Ukaoha, who is the President, National Association of Nigerian Traders (NANTS), said this in an interview with the News Agency of Nigeria in Abuja, while speaking on trade policies of Nigeria at 60.

Post COVID-19: Expert proffers strategies for business revival

A public Finance expert, Dr Greg Ugochukwu Ezeilo, has suggested survival strategies that organisations can use to revitalize their operations and bounce back to profitability quickly in the post COVID-19 era.

He gave the suggestion at a webinar organised by Team Bronze, a Think-Tank Group from Igbo-Ukwu, a historical town in Anambra State, on Sunday.

Team Bronze is also a group that is driven by the overarching goal of championing the wholesome development of their community and the Nigerian state in general.

Metals import gulps $3.3b annually –Minister

Nigeria spends about $3.3bn every year on the importation of metals, the Minister of Mines and Steel Development, Olamilekan Adegbite, stated on Monday.


He stated this in his remark at the takeover ceremony of assets of steel plants of Standard Metallurgical Company Limited in Ogun State by KAM Steel Integrated Company Limited.


KAM Steel, a subsidiary of KAM Holding, acquired SMC at N60bn.


CAC to regulate e-signature, e-meeting promoted by CAMA

The Corporate Affairs Commission (CAC) has said it will regulate e-signature and e-meeting promoted by the Companies and Allied Matters Act (CAMA) 2020 to checkmate cyber fraud.

Mr Tolulope Sonaike, an Assistant Director of the commission stated this at the 10th webinar series organised by DCSL Corporate Services Limited in Lagos.

The webinar had as its theme “A ‘Discourse on CAMA Act 2020 and its Implications for Businesses”.

Economic Sustainability Plan: Vice President seeks private sector collaboration

Nigeria’s Vice President, Prof. Yemi Osinbajo, has called for the collaboration of the private sector in the implementation of the country’s N2.3 trillion Economic Sustainability Plan, ESP, as government consolidates efforts designed to ward off a deep recession and effect significant changes in the economy.

Prof. Osinbajo made the call on Friday at the virtual edition of the Presidential Policy Dialogue of the Lagos Chamber of Commerce and Industry (LCCI).

Nigeria generated ₦3b from rail transport service in 2019 –Rail Corporation

The Nigeria Railway Corporation (NRC) says it generated N3.09 billion in the year 2019 from train service operations nationwide with N1.5 billion generated from the Abuja-Kaduna rail service.

The Managing Director of NRC, Engineer Fidet Okhiria, who disclosed this, said the Abuja-Kaduna rail line generated about N130 million monthly revenue in 2019 as against the N80 million generated in the previous year noting that the rail line has been able to breakeven.

Association challenges Government on providing enabling business environment

The Kwara Coalition of Business and Professional Association (KWACOBPA) has called on the state government to look into pervading insecurity in business environment in the state.

The call was contained in a presentation during the virtual launch and unveiling of Kwara state business agenda.

Business owners in the country and abroad, including the state governor, AbdulRahman AbdulRazaq who was represented by the state Commissioner for Enterprise, Wahab Femi Agbaje participated at the virtual launch.

NIPOST: LCCI wants regulatory framework reviewed

The Lagos Chamber of Commerce and Industry (LCCI) has called for the review of the regulatory framework of the Nigerian Postal Service (NIPOST) in the interest of the Nigerian economy, business continuity, private sector development and job creation.

Dr Muda Yusuf, LCCI Director-General, made this known in a statement on Sunday in Lagos that a framework in which NIPOST was both a regulator and an operator was detrimental to the development of courier business in the country, and inconsistent with best practices globally.