Category Archives: Finance

Nigeria, Morocco Collaborate On Agricultural Insurance

Nigeria and Morocco have set up a steering committee to develop a sustainable crop insurance scheme for the country.

The Committee, comprising representatives of the Nigerian Agricultural Insurance Corporation (NAIC), Bank of Agriculture, the Moroccan Agricultural Insurance Company (MAMDA) and MAMDA RE.

In developing the insurance scheme, the committee is expected to use parametric products and leverage on the Moroccan model for crops covering selected areas of between 5000 and 10,000 hectares of land.

London Stockbrokers Eye Nigeria’s Capital Market

There are strong indications that stockbrokers on the London Stock Exchange (LSE) are warming up to take advantage of investment opportunities in Nigeria’s capital market in view of its fast growing profile.
In a similar vein, the much awaited capacity building being anchored by the Chartered Institute of Stockbrokers (CIS) and Chartered Institute for Securities and Investment (CISI), United Kingdom, to launch Nigeria’s stockbrokers into the global space has commenced.
Commenting on Nigeria’s capital market at the commencement of the special training by CIS and CISI on commodity derivatives at the weekend, a global securities constraint and Fellow of CISI, Mr. Alan Burr, explained that Nigeria’s capital market, especially the NSE had become the focus of the international financial expert as the exchange is one of the fastest growing markets globally.

Oxford Business Group Set to Unveil Nigeria’s 2017 Lending Policy

The growing role earmarked for Nigeria’s banks in boosting private sector credit will be explored in a report by the global research and consultancy firm, Oxford Business Group (OBG).

The Report: Nigeria 2017 will look in detail at the drive to encourage banks to increase lending for the country’s small and medium-sized enterprises (SMEs), which make up 96 per cent of the country’s businesses and account for about 50 per cent of GDP.

OBG’s report will also consider the impact on Nigeria’s lenders of the current challenging macroeconomic conditions, in particular, the falling naira and a shift in the government’s fiscal policy. The central bank’s decision to sharpen its focus on risk management and what it means for financial institutions is also analysed.

Kanye West Sues Lloyds over Insurance for Cancelled Shows

A lawsuit filed by representatives of Kanye West claims insurers have failed to pay nearly $10 million for West’s canceled Saint Pablo Tour last year.

The suit filed by Very Good Touring against several Lloyd’s of London syndicates alleges breach of contract and seeks punitive damages and attorney fees beyond the $9.8 million in concert losses.

An after-hours message left for Lloyd’s of London’s New York office was not immediately returned. West canceled several scheduled concert appearances last year.

He missed a few dates after his wife, Kim Kardashian West, was robbed in Paris. West canceled the remainder of his tour after he was admitted for undisclosed reasons to UCLA Neuropsychiatric Hospital in November.

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