We’ve invested $1bn in power sector – Tony Elumelu

To the Chairman of Heirs Holdings Tony Elumelu

We’ve invested $1bn in power sector – Tony Elumelu     Tony Elumelu, Chairman of Transcorp Group and United Bank for Africa (UBA) Plc has disclosed that his companies have invested a collective sum of $1 billion in power sector. According to him, the investment was fueled by the belief of his organizations that the economic transformation of Nigeria and Africa will rest on the availability of power. The founder of the Tony Elumelu Foundation (TEF) said this on Tuesday in an address he delivered to the Anglican Church Youth…

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NAICOM licenses four new insurance firms

COVID-19: NAICOM segments recapitalization target for insurance firms

NAICOM licenses four new insurance firms Ending over 10 years of embargo on licensing of new insurance underwriting firms, the National Insurance Commission (NAICOM), at the weekend said it has received applications from four insurance firms seeking to obtain operational licenses to commence operation in Nigeria. The Commission, gave the names of the four firms as Heir Insurance Limited, which is seeking to be licensed as General insurance business underwriter; Stanbic IBTC Insurance Limited, which yet to declare its area of interest; Heirs Life Assurance Limited, for life insurance underwriting;…

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