During the week, the trade association of insurance companies in Nigeria, Nigeria Insurers Association (NIA) informed the Punch Newspapers that 25 of its members had received 1,661 claims resulting from the protests, which amounted to NGN20.4b and a reserve of NGN13.2b has been made.
Further to the introduction of its new "CBN Naira 4 Dollar Scheme" which comes into effect on Monday, March 8, 2021, the Central Bank of Nigeria has said the move is aimed at providing Nigerians in the Diaspora with cheaper and more convenient ways of sending remittances to Nigeria.
The Aliko Dangote Foundation (ADF) has disbursed the sum of N3.924 billion to 392,490 women and youths across Kano, Jigawa, Kogi, Adamawa, Borno, Yobe, Lagos, Niger, Nasarawa, Sokoto and Katsina state as part of its microgrant programme, the company has said in a recent press release.
Nigerian Stock Market closed the month of February 2021 in the red zone as sell pressure sets in to weigh down the sustained bargain hunting witnessed during the previous month of January 2021. The NSEASI dipped by -6.16% as against +5.32% gain recorded in the month of January 2021 while the NASD USI also closed southwards with -1.58% loss recorded at the end of the month under review as against 1.04% loss in January 2021.
With the arrival of fintechs and other innovators on the banking scene, the way we bank and carry out financial transactions is constantly changing. Some of these developments led to considerations for the creation of a seamless system that would lead to the sharing of financial data through an open banking system.