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Fidelity Bank Plc has launched a corporate social responsibility (CSR) scheme tagged the Fidelity Food Bank. Through the initiative, the bank would partner with selected charity organizations across the country to provide food items to members of the society monthly. At an event held to officially launch the project at the Our Lady of Perpetual Help Catholic Church, Victoria Island, Lagos, the MD/CEO, Fidelity Bank Plc, Nneka Onyeali-Ikpe said, “According to the Global Hunger Index, an estimated 2.4 billion people, which represents more than 30 per cent of the world’s population, faced severe food insecurity in 2022. “In Nigeria, data published by the National Bureau of Statistics in 2022, stated that over 133 million Nigerians are multidimensionally poor and the major issue is hunger. “We recognise that one of the ways we can continue to touch lives and give back to the communities we serve is by the introduction of The Fidelity Food Bank initiative.” The launch had in attendance cler

For the 2022 financial year, Veritas Kapital Assurance Plc has reported 46 per cent increase in its Profit After Tax (PAT) from N570.4 million in 2021 to N833.6 million. Kenneth Egbara, the insurance company’s Managing Director, made this in a statement made available on Tuesday in Lagos. Veritas Kapital Assurance is a Nigerian insurance company which offers non-life insurance products and services including Marine Insurance, Aviation , Engineering, Oil and Gas, Auto and Home Insurance to individuals and institutions across Nigeria According to Egbera, the insurer increased its profit before tax by 169 per cent year -on- year, from N344.43 million in 2021 to N825.9 million in 2022. It also increased its underwriting profit by N169.23 million, from N1.28 billion in 2021 to N1.45 billion in 2022. He disclosed that the underwriting firm’s gross premium written declined by 26 per cent year- on -year, while its net premium income increased by N60.9 million to N3.0 billion from N2.94 billio

According to the National Bureau of Statistics (NBS), the average retail price of a litre of petrol has increased from N185.30 in March 2022 to N264.29 in March 2023. This was made known in its Petrol Price Watch for March 2023 released in Abuja on Monday. It stated that the March 2023 price of N264.29 represented a 42.63 per cent increase over the price of N185.30 recorded in March 2022. “Comparing the average price value with the previous month of February 2023, the average retail price increased by 0.20 per cent from N263.76. “On states profiles analysis, Imo paid the highest average retail price of N332.67 per litre, followed by Taraba at N330.00 and Borno at N324.55. “Conversely, Benue paid the lowest average retail price of N195.00, followed by Plateau at N196.79 and Nasarawa at N197.50, ” it stated. Analysis by zone showed that the South-East recorded the highest average retail price in March 2023 at N306.00 per litre, while the North-Central recorded the lowest at N205.10 per l

Airtel Nigeria has partnered with AXA Mansard to launch a digital health insurance scheme to provide access to basic health care consultation for customers on the telco’s network. According to Airtel, the health bundle will give its customers the opportunity to approach low-cost health care consolation and treatment for minor illnesses. It stated that the bundle plan will provide three forms of healthcare services, including telemedicine, pharmacy, and hospitalisation reimbursement, and customers can subscribe by dialling *141*44# to select the service. According to a statement, the Chief Commercial Officer of Airtel Nigeria, Femi Oshinlaja, said, “In line with Airtel’s core value, which is to deliver solutions that enrich the lives of our customers, we are pleased to partner with AXA Mansard, to launch a cutting-edge health bundle that will add value to our customers. "This partnership aims to provide easy and pocket-friendly health insurance access to Airtel users, through mobil

 The Lilypond Export Command of the Nigeria Customs Service says it has processed export goods worth N86bn with a free on board value of $205 million between January and March 2023. Babandede Mohammed, the Customs Area Controller in charge of the command made this known in a statement. The statement listed items processed as agricultural produce which include cocoa beans, cashew nuts, sesame seeds, hibiscus flower, soya beans and ginger. “Other items exported are mineral resources such as lithium ore, manganese ore, and zircon sand to mention but a few. Manufactured goods exported are instant noodles, cosmetics, cigarettes and beverages,” it added. He also said that within the period under review, the command processed non-oil export with a total tonnage of 118,184.96. He said that despite being a new command, Lilypond export command has recorded some achievements such as, “Drastically reducing delay in export processing. It makes the business of export effective and efficient since al

  The Management of Kano Electricity Distribution Company (KEDCO) has tendered an unreserved apology to its esteemed customers over epileptic power supply being experienced in Kano, Katsina and Jigawa States. The apology is contained in a statement issued by the company’s Head of Corporate Communications, Mr Sani Bala Sani, on Friday in Kano. Sani said the management deeply regret the situation due to low allocation of megawatts to KEDCO for distribution from the National Control Centre (NCC). KEDCO cited a situation where it now get an allocation of 140MW against the initial 280MW, a shortfall of 140MW, which is grossly inadequate to go round all its customers sufficiently in the three affected states.  “Management of Kano Electricity Distribution Plc (KEDCO) hereby apologise to its esteemed customers across its entire franchise states of Kano, Katsina and Jigawa for recent shortage in electricity supply. “This is largely due to low allocation of megawatts to KEDCO, for distribution

The Nigeria Deposit Insurance Corporation (NDIC) has called on depositors of the defunct Peak Merchant Bank to come for verification for the payment of their insured deposits. The NDIC in a document posted on its official Twitter handle by the Claims Resolution Department of the Corporation, said the verification would commence between April 26 and May 6. The Corporation listed the locations for the exercise to include Eket, Akure, Bonny, and Warri. NDIC said that depositors can also visit the claim’s page on the Corporation’s website on www.ndic.gov.ng for their verification. According to the News Agency of Nigeria (NAN), the purpose of the deposit insurance system was to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution could no longer repay their deposits.he Corporation said that depositors can also send email to its designated email address claimscomplaints@ndic.gov.ng. NDIC guarantees the payment of deposits up to the maxi