Two die in Lagos auto crash

Two people lost their lives on Monday in an auto crash that occurred at Gbagada Bus Stop, around Anthony area of Lagos state. It was learnt that tragedy struck when a Volkswagen commercial bus with registration number GGE716XM had a head on collision with another vehicle, identified as a taxi Sources said the incident occurred at about 3 p.m. When contacted, the Lagos State Emergency Management Authority, LASEMA, said 14 persons were rescued and had been taken to the Gbagada General Hospital and Trauma Centre by LASAMBUS and the LASEMA…

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Vessels stranded with 125,500 tons of petroleum products

As loading resumes at Mosimi depot in Ogun State, no fewer than 10 vessels laden with 125,500 metric tons of various petroleum products have been stranded on Lagos water channel since March, 2017, New Telegraph has learnt. The products, which are expected at seven different jetties in the last three weeks, are premium motor spirit (PMS), diesel and Jet A1. These products arrived at Lagos anchorage and are awaiting berthing space. According to Nigerian Ports Authority (NPA)’s shipping position, six of the vessels are being expected at Ibafon jetty with…

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Law Union & Rock’s profit rises100% to N561m

Foremost underwriting firm, Law Union & Rock Insurance Plc, has posted a 100 per cent increase in profit after tax from N280.92 million in 2015 to N561.85 million in 2016. Managing Director of the company, Jide Orimolade, who disclosing this, expressed hope of achieving similar feat this year by growing its premium income by 50 per cent. He said that the firm was committed and strategically positioned to consolidate on profit earned this year to delight its shareholders and stakeholders. He noted that the company’s giant stride in profit after…

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Building insurance gains traction from regulators, lawmakers

With regulators and lawmakers putting modalities in place to fully implement building insurance in the country, victims of subsequent disasters are set to get paid for losses. Sunday Ojeme reports     Effort by the Federal Government to ensure Nigerians embrace all aspects of Compulsory Insurances is gaining strength following insurance regulators and lawmakers’ synergy on public building insurance. The latest determination, which began two weeks ago with a meeting between the National Insurance Commission (NAICOM), Nigerian Insurers’ Association (NIA) and Federal Fire Service, was given another traction last week…

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U.S, UK commend Nigeria over foiled attack on embassies

The embassies of the United States and the United Kingdom in Abuja have reacted to Wednesday’s announcement by the Department State Service (DSS) that five suspected Boko Haram operatives with ties to the Islamic State terror group were arrested while plotting to attack the two missions. In separate reactions to the announcement, the U.S. and U.K. Embassies said their respective governments appreciate the efforts of Nigerian authorities in neutralising terror threats. “The United States appreciates the work of Nigerian security forces in fighting terrorism and keeping citizens and residents safe,”…

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N15.2bn petrol racket: NNPC fires three directors

The Nigerian National Petroleum Corporation (NNPC) yesterday struck its retail directorates, which had  been neck-deep in the N15.2 billion missing Premium Motor Spirit (PMS) also known as petrol, sacking three directors and deploying four others.The corporation, which had earlier promised measures to achieve full recovery of over 130 mil   lion litres of petrol, worth N15.162 billion based on N116.63 per litre ex-depot price from Capital Oil and Gas Limited, had      prom ised to punish its staff involved in the missing fuel racket. The product, stored in the facilities of two indigenous…

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