Unitrust inflates paid-up capital to N6.4bn via N1.45bn right issue

Unitrust Insurance Company Limited says it has successfully raised N1.45 billion through rights issue and has over N6.4 billion qualifying capital as required by the National Insurance Commission (NAICOM) for the ongoing recapitalisation process in the industry. It disclosed this in a statement entitled ‘Unitrust Insurance held annual general meeting and increased paidup capital to N6.4bn’, just released to the press. According to the statement, John Ijerheime, Unitrust’s managing director, disclosed this during the company’s annual general meeting while presenting its 2019 financial accounts. The financial account showed the gross…

Read more