Cyber Attacks on the Rise, Experts Warn

Cybersecurity experts have raised the alarm that cyber attacks on organisations was on the increase, with a possibility to cause a global financial loss of $1 trillion in the next few years, up from the $5.3 billion global loss recorded in 2017 and $9 billion in 2018. Cybersecurity experts who spoke at a breakfast meeting… Continue reading Cyber Attacks on the Rise, Experts Warn

Nigerian Banks Lose N12.30bn To Fraud In 4 Years.

The Nigerian Inter-Bank Settlement System (NIBSS), yesterday said the Nigerian banking industry lost the sum of N12.30 billion to frauds between 2014 and 2017. Managing director, NIBBS, Mr Adebisi Shonubi, disclosed this at the third annual Banking Security Summit organised by MAXUT Consulting in partnership with OneSpan, a global data security company in Lagos, Nigeria.… Continue reading Nigerian Banks Lose N12.30bn To Fraud In 4 Years.

Nigeria’s Federal Government pays N23bn to pensioners in three months

Following recent verification exercises, Nigeria’s Federal Government has commenced the rapid payment of pensions to verified pensioners. This is very heartwarming news.
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38 Firms Raked in N54.1bn from Oil and Gas Insurance Businesses in 2016.

Thirty eight underwriting firms in Nigeria generated N54.130 billion as gross premium from oil and gas insurance businesses in 2016; but expended only a paltry N4.642 billion as claims to companies. Data obtained from the Nigeria Insurers Association (NIA), the umbrella body of insurance underwriters in the country, showed that a total of N38.8 billion… Continue reading 38 Firms Raked in N54.1bn from Oil and Gas Insurance Businesses in 2016.

Nigeria’s Ibom Deepsea Port to handle four million TEUs in 2040.

Nigeria’s Ibom Deepsea Port will accommodate up to 13 New Panamax Class container vessels and two very large feeder vessels upon completion and is estimated to grow from about 1.2 million (Ten Equivalent Units) TEUs in 2021 to about four million TEUs in 2040. This was contained in a statement issued by the promoters of… Continue reading Nigeria’s Ibom Deepsea Port to handle four million TEUs in 2040.

Global telephony insurance market to hit $ 20.5 billion

Given the increasing prevalence of expensive household goods, cars and consumer electronics, insurance has become an unavoidable and often necessary cost in modern life. Mobile phones and smartphones in particular, are no exception to this trend. Report has it that most major mobile operators, insurance specialists, retailers and even banks now offer insurance plans that… Continue reading Global telephony insurance market to hit $ 20.5 billion

Nigeria’s Federal Government Inaugurates Insurance Roadmap for Farmers.

The Nigerian Federal Government has inaugurated a road map to guide farmers in insuring their crops. According to the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, the road map will help ensure food security across the country with farmers insuring their crops and obtaining financial support in the event of occurrence of any… Continue reading Nigeria’s Federal Government Inaugurates Insurance Roadmap for Farmers.