Market Updates

Mutual Benefits Assurance targets 48-hour claim payouts Mutual Benefits Assurance Plc has announced a streamlined claims process aimed at providing immediate financial relief to policyholders in a strategic move to redefine efficiency within the Nigerian insurance sector. The company revealed this on Wednesday, May 13, during an official courtesy and... Read More →

Autonomous inflows drive FX market recovery The decision to clear over $7bn in unsettled foreign exchange obligations has boosted investor confidence, as rising diaspora remittances, portfolio investments, and non-oil export earnings have strengthened reserves and accelerated recovery in Nigeria’s foreign exchange market, JIDE AJIA writes The decision by the Central Bank of... Read More →

Recapitalisation: Insurers scramble for N132bn as deadline stands With the July 31 deadline firmly in place, several insurance companies are intensifying efforts to raise fresh capital through rights issues, private placements, mergers, and acquisitions in a bid to avoid regulatory sanctions and possible licence withdrawal, reports JIDE AJIA Across Lagos, Abuja,... Read More →

CBN, CIBN advocate stronger female banking leadership The African Women in Banking and Finance Association has held the maiden edition of its conference in Lagos, with several female key players from various institutions across the sector in attendance to advocate for increased female representation in leadership. The founder of the... Read More →

Naira strengthens to N1,853/£1 against British Pound amid UK’s political instability The Nigerian Naira has recovered from its April lows and shown signs of resiliency in the first half of May, while the British pound hit monthly lows amid a crisis in the UK ruling party. The British pound sterling... Read More →

SEC approves FCMBAM mutual funds rebranding FCMB Asset Management Limited has secured approval from the Securities and Exchange Commission for the execution of supplemental Trust Deeds covering its mutual funds, including the rebranding of its legacy funds and reduction in minimum subscription units. The company, which is the asset management... Read More →