The prices of major food items, such as bags of beans, pepper, tomatoes, eggs amongst others have witnessed a significant surge in Lagos State markets, while the price of local and foreign rice record a slight decrease.
This is according to the latest market survey, carried out by Nairalytics Research – the research arm of Nairametrics.
According to the report, a big bag of brown beans that was initially sold for an average of N33,500, rose by 3.7% to sell for an average of N34,750. Also, the price of a big bag of honey beans increased by 7.02% to sell for an average of N24,750.
Vanguard News
AFCFTA: FG pushes ECOWAS brown card scheme
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INSURANCE
As Nigeria settles down to the implementation of the African Continental Free Trade Area, AFCFTA, the Federal Government, FG, is pushing for the full implementation of the Economic Community of West African States, ECOWAS, Brown Card Insurance Scheme to guarantee prompt compensation to victims of road accidents within ECOWAS member states.
Making this known at the inauguration of Mr. Ganiyu Musa as the Chairman of Council of Bureaux, ECOWAS Brown Card Insurance Scheme, in Abuja yesterday, Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, noted that the existence of the scheme and its effective implementation will stimulate integration of the West African regional block preparatory to the full implementation of AfCFTA subscribed to by most ECOWAS countries.
COVID-19, #EndSARS: Towards awakening insurance consciousness of Nigerians nationalaccordnewspaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalaccordnewspaper.com Daily Mail and Mail on Sunday newspapers.
Cash woes: FG after dormant accounts, unclaimed dividends
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…Bankers surprised, unaware
“From the commencement of this Act, any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and any unutilised amounts in a dormant bank account maintained in or by a deposit money bank which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account shall be transferred immediately to the Unclaimed Funds Trust Fund.” FINANCE ACT 2020, SECTION 77, 1-3
By Babajide Komolafe, Nkiru Nnorom, Rosemary Onuoha & Elizabeth Adegbesan
NAICOM, NIA disagree over recapitalisation of insurance firms
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By Rosemary Onuoha
The National Insurance Commission, NAICOM, and the Nigerian Insurance Association, NIA, have disagreed over the appropriate recapitalisation model for insurance firms.
While NAICOM has stipulated the general capital requirements for the different categories of the insurance business and mandated that operators must meet the requirements by December 2021, the NIA is canvassing for Risk Based Capital, RBC, arguing that this will make the insurance industry attractive to investors and save about N77 billion payout as cost of recapitalizing.
NAICOM mandated life insurance firms to raise their minimum paid-up capital of N8 billion, up from N2 billion; general insurance companies are to increase their paid-up capital to N10 billion from N3 billion.