Connect with us
Gage

Business News

Ambassador Mumuni has resigned from the board of African Alliance

Published

on

As though continuing the trend of corporate resignations this week, African Alliance Insurance Plc has announced that one of its Non-Executive Director, Ambassador Nurain Abayomi Mumuni has resigned from it Board of Directors.

So far this week, two non-executive directors of companies listed on the Nigerian Stock Exchange (NSE) have stepped down from their positions; including United Capital’s former Group Chief Executive Officer, Toyin F. Sanni, and Dolika Banda, a former Director at Ecobank.

Earlier today, Addax Petroleum also confirmed the resignation of its Managing Director, Colin Klappa.

According to a press statement published on the NSE website, Mumuni’s resignation was confirmed, even as the management of African Alliance Insurance Plc praised him for his many contributions to the company’s growth while wishing him “all the best and success in his future endeavours.”

“African Alliance Insurance Plc (“the company”) wishes to announce the resignation of Hon. Ambassador Murain Abayomi Mumuni from the Board of the company effective from 15th May, 2018.

On behalf of the Board, management and shareholders of the company, we wish to thank him for the support, dedication, commitment and brilliant contributions he  brought to Board deliberations and also in assisting the company to achieve its business goals and objectives.” – African Alliance

In April 2017, the company announced the resignation of the board chairman, Cyril Ajagu. The company also announced the retirement of its Managing Director/Chief Executive Officer (CEO), Aphonse Okpor, after his attainment of the company retirement age of 60 years.  He was replaced by Olufunmilayo Omo, who still sits as the company’s MD/CEO.

Specta

Ambassador Nurain Abayomi Mumuni was appointed a Non-Executive  Director of African Alliance in 2010.

He has a Masters degree in Public Administration (MPA) from the Nnamdi Azikiwe University, Awka. He also studied at Obafemi Awolowo University for a Post-Graduate Diploma in Public Administration.

Mumuni is quite experienced in the area of public affairs, thanks to his many qualifications which include a Graduate Certificate in Forensic Science, a Certificate in International Criminal Justice & Administration, and a Postgraduate Certificate in Intelligence and Terrorist Profiling etc.

Deal book 300 x 250

Incorporated in May 1960, African Alliance Insurance Plc (formerly African Alliance Insurance Limited) is an insurance company based in Lagos, which was listed in theNigerian Stock Exchange (NSE) in 2009. The company’s shares traded at N0.20 on Thursday’s trading session on the NSE. Year to date, the stock is down 60%.

Coronation ads

The company is yet to release its full-year results for the 2017 financial year due to a delay in a foreign subsidiary releasing its results.

An X compliance report released in April this year by the NSE, revealed the company had been fined N46.1 million in 2017.

The company in July 2013 was among several firms fined by the NSE for late submission of their audited results.

In July 2017, the company once more fell under the NSE hammer as it was suspended for non-submission of its audited results.

Coronation ads

Stanbic IBTC

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Coronavirus

COVID-19: FG to disburse N10 billion for local vaccine production

The Minister of Health has disclosed that Nigeria is exploring options for the licensed production of COVID-19 vaccine.

Published

on

The Federal Government, through the Ministry of Finance, has announced the sum of N10billion for the production of vaccines in Nigeria, to fight the coronavirus.

This was disclosed by the Minister of Health, Dr Osagie Ehanire, at the daily Covid-19 briefing by the Presidential Task Force on Monday in Abuja.

  • “The Ministry of Finance has released N10billion to support domestic vaccine production. While we are working to develop our own vaccines, Nigeria is exploring options for licensed production, in collaboration with recognised institutions. We are also exploring the option of local production of the vaccines in the country.”

He also warned Nigerians to ignore news about vaccines being for sale in Nigeria, as the procedures to acquire vaccines have to pass through due process.

  • I advise all citizens to disregard these claims, as they are criminal. There are procedures for vaccine acquisition and use, which include appropriate regulations and certification by National Agency for Food and Drug and Administration and Control (NAFDAC).
  • “I advise against fake vaccines, as there is no one approved for use in the country. The National Primary Health Care Development Agency (NPHCDA) is the only authorised vaccine administrator in Nigeria.”

He also stated that as Nigeria is experiencing the second wave, the FG needs to change its response procedures through infection mitigations and vaccines.

  • “There is no doubting the fact that we are deeply into the second wave of the pandemic which requires that PTF and FMoH review our strategies to respond to the challenge. The Federal Ministry of Health has outlined three approaches to confront the pandemic – Infection mitigation, Therapeutics and Vaccines.”

What you should know 

  • Nairametrics reported in November 2020, that the Health Minister announced Nigeria’s plans to set up a vaccine production company in Nigeria to boost local COVID-19 vaccine production.

Specta
Continue Reading

Coronavirus

COVID-19 Update in Nigeria

On the 18th of January 2021, 1,617 new confirmed cases and 14 deaths were recorded in Nigeria

Published

on

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 112,004 confirmed cases.

On the 18th of January 2021, 1,617 new confirmed cases and 14 deaths were recorded in Nigeria.

To date, 112,004 cases have been confirmed, 89,939 cases have been discharged and 1,449 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 1.17 million tests have been carried out as of January 17th, 2021 compared to 1.15 million tests a day earlier.

COVID-19 Case Updates- 18th January 2021,

  • Total Number of Cases – 112,004
  • Total Number Discharged – 89,939
  • Total Deaths – 1,449
  • Total Tests Carried out – 1,172,234

According to the NCDC, the 1,617 new cases were reported from 18 states- Lagos (776), Kaduna (147) Kwara (131), FCT (102), Plateau (78), Edo (59), Ogun (53), Osun (45), Rivers (37), Taraba (36), Nasarawa (34), Adamawa (33), Kano (26), Delta (20), Ebonyi (16), Bayelsa (11), Gombe(11) and Borno (2).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 41,400, followed by Abuja (14,700), Plateau (6,831), Kaduna (6,325),  Oyo (4,695), Rivers (4,429), Edo (3,320), Ogun (2,912), Kano (2,617), Delta (2,122), Ondo (2,070), Katsina (1,723), Kwara (1,697), Enugu (1,583), Gombe (1,500), Nasarawa (1,335), Ebonyi (1,275), Osun (1,260),  Abia (1,134), and Bauchi (1,107).

Specta

Borno State has recorded 867 cases, Imo (857), Sokoto (677), Akwa Ibom (667), Benue (657), Bayelsa (619), Adamawa (573), Niger (547), Anambra (515), Ekiti (473), Jigawa (425), Taraba (294), Kebbi (251), Yobe (211), Cross River (169),  Zamfara (162), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

Coronation ads

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.

Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.

Coronation ads

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

Stanbic IBTC

 

Jaiz bank ads

 

 

Continue Reading

Around the World

US Capitol complex temporarily shut down

The US Capitol complex was shut down temporarily on Monday as a precautionary measure after a small fire broke out nearby.

Published

on

The US Capitol complex was shut down temporarily for about an hour on Monday as a precautionary measure after a small fire broke out nearby, highlighting the security concerns that are being raised days before the inauguration of President-elect Joe Biden.

The security concerns and the lockdown follows the January 6 attack on the US Capital by supporters of the outgoing US President, Donald Trump, after his encouragement and inciting comments, calling the Presidential election a fraud without any proof of evidence.

READ: President Trump says he won’t attend Joe Biden’s inauguration

Some of them even called for the death of the US Vice President, Mike Pence for presiding over the certification of Joe Biden’s November election victory.

While making the disclosure in a statement, the Capitol Police said that the lockdown has been lifted and the nearby fire contained.

Specta

The Acting Chief of the Capitol Police had said that the complex which comprises of the Capitol, its grounds and several buildings were shut down as a precautionary measure.

READ: US Supreme court dismisses Texas bid to overturn presidential election results

The US Secret Service in a tweet post on its official Twitter handle said, “Out of an abundance of caution the U.S. Capitol complex was temporarily shutdown. There is no threat to the public.’’

The city’s fire department in its tweet post said that firefighters put out a fire outside near the Capitol complex.

Coronation ads

The fire department said, “There were no injuries. This accounts for smoke that many have seen.”

READ: Huawei accuses the United States of hacking

What you should know

  • President-elect, Joe Biden is expected to be sworn in at the US Capitol on Wednesday amid an unprecedented cordon of security, with strict physical distancing measures in place due to threats of violent attacks in Washington and the rising cases of coronavirus infections.
  • Donald Trump, who is just fresh from a historic second impeachment from the congress had said he would not attend, although his deputy, Vice President Mike Pence, had given an indication that he would attend.

Continue Reading
Advertisement




Advertisement