Nigeria will continue its $3.5 billion civil claim against Shell Plc and Eni SpA after Italian prosecutors dropped criminal proceedings against the companies, a lawyer representing Africa’s largest crude producer said. The West African country, which joined the case as …
LAGOS, Nigeria (AP) – The death toll from the collapse of a high-rise apartment building under construction in Nigeria’s most populous city has risen to 23 with two more bodies recovered Wednesday afternoon, authorities said. Nine people had been rescued …
LAGOS – Rescuers on Tuesday dug through rubble searching for survivors a day after a luxurious high-rise building collapsed while under construction in Nigeria’s commercial capital Lagos, as officials put the death toll at 10 and scores were reported missing. …
A Nigerian oil producer sued Royal Dutch Shell Plc for more than $2 billion over the ownership of oil wells, intensifying a dispute around an asset sale completed six years ago. Aiteo Eastern E&P Co. Ltd. claims that Shell falsely …
Nigerian insurers are facing their biggest claims on record after protests against police brutality turned violent, leading to large-scale looting and destruction. Risk underwriters all over the country are inspecting business sites and verifying claims following loss notifications from big …
Nigeria’s biggest insurer is seeing more demand from the government and employers of health workers for life cover as the coronavirus pandemic starts taking hold in Africa’s most populous country. “Health workers are demanding it, other state governments and municipalities …
Nigeria’s National Insurance Commission gave underwriters an additional year to recapitalize as companies deal with the effects of the coronavirus pandemic. The industry recapitalization program scheduled to end in 2020 must now be completed by September 2021, the agency said …
Nigeria increased the minimum capital requirement for insurers more than threefold as the industry regulator seeks to to improve the sector’s risk management. Existing companies must comply by June next year, while it is effective immediately for the issue of …
The International Finance Corp. (IFC), a member of the World Bank Group, announced it has signed an agreement with Africa Re, the pan-African reinsurance company, to help small holder Nigerian farmers more easily access insurance to protect their crops and …
Nigeria increased the minimum capital requirement for insurers by threefold, in a bid to expand their capacity to handle risk in Africa’s biggest oil producer. The National Insurance Commission requires the new levels of capital by Jan. 1, according to …
