Recently, AIICO Insurance has been raising capital through various means. The sell-off could be one of them.
Capital erosion and a possible resurgence in banks' non-performing loans are just some of the risks.
The company reported a -78.9 decline in its Q1 profit after tax to N53.3 million.
The plan to increase NEM Insurance's issued share capital has long been in the works.
613 VC deals valued at $3.9 billion occurred in Africa between 2014 and 2019.
This is coming barely one week after Wema Bank confirmed reports about COVID-19 infections at its branches.
In Nigeria, deposit money banks are required to keep 65% loan to deposit ratio.
The charges accrued between February 1st and April 30th, due to ommissions by the tier-1 bank.
The Nigerian banking industry remains one of the best places to work in the country.
Many companies are unable to create new jobs, hence the problem pension fund managers have noticed.