investment + may 2018

Firm Declares N5b Claims Settlement, as PAT Rises

Mutual Benefits Assurance Plc has paid a total of N5.15 billion to policyholders in the country in efforts to regain confidence in the nation’s insurance sector. According to the company, the audited financial accounts for the year ended December 2017 with...
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Nigeria Postal Service to Unbundle into Five Companies

Nigeria Postal Service (NIPOST) will soon be unbundled into five companies, Minister of Communications, Barrister Adebayo Shittu has disclosed. Speaking at the 4th series of the INDO-AFRICA ICT EXPO 2018 on Digital Transformation in Lagos, Shittu explained the plan is...
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NOVA Bank Returns Profit in 1st year

NOVA Merchant Bank Limited, one of the new merchant banks licensed by the Central Bank of Nigeria, CBN, with a focus on wholesale banking, investment banking and asset management, has reported a profit of N510.6 million in its first full...
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Nigerian HealthTech Startup Secures Funding from EchoVC

Nigerian health startup, LifeBank has raised an undisclosed seed round led by EchoVC Pan-Africa Fund, with participation from CcHub Growth Capital and an undisclosed healthcare angel investor. LifeBank, which is a last mile medical supply chain company, leverages technology to...
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NNPC, NAOC Move to Add 500MW to Power Grid

In a determined efforts to ramp up power supply in the country, the Nigerian National Petroleum Corporation (NNPC) and its Joint Venture Partner, Nigeria Agip Oil Company Limited (NAOC), have pledged their commitment to implement the Okpai Phase 2 Project...
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Lidya Raises $6.9m in Series A Investment Round

Lidya, the digital financial services platform focused on improving access to credit for micro-, small-, and medium-sized enterprises (MSMEs) in Africa, today announced that it has raised $6.9 million in a Series A investment round, one of the largest in...
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