Delayed Results: 17 Insurance Firms Get N62m NSE, NAICOM Fine Ebere Nwoji The Nigerian Stock Exchange (NSE) has fined 17 insurance firms for the delay in the submission of their 2017 full year results, THISDAY learnt yesterday. The affected firms also
risk stiffer sanction from the National Insurance Commission (NAICOM) with few days to the commission’s June 30th deadline for the submission of their results. This is in line with the Insurance Act 2003. According to a reliable
industry source, the affected firms are to pay the NSE N62.3 million for late submission of their 2017 annual reports and accounts. Some of the insurance companies that were affected, THISDAY learnt included Mutual Benefits Assurance
Plc, Great Nigeria Insurance, Niger Insurance, African Alliance Insurance Plc, and Sovereign Trust. The Deputy Commissioner for Insurance (Technical), NAICOM, Mr. Sunday Thomas, in response to enquiries from THISDAY, disclosed that as of
June 20th, 41 insurance firms out of 58 firms had submitted their 2017 financial results to the commission. He said out of this, the commission had approved the report of 32 firms while 10 were at various stages of approval.
Thomas said there was no going back by the commission in the enforcement of penalty for late submission, stressing that there would not be an extension of the deadline for submission of their results. Continued on page 6
Court Refuses to Stop APC National Convention… Page 6 Thursday 21 June, 2018 Vol 23. No 8463. Price: N250
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Presidency Accuses Opposition of Sponsoring Widespread Killings Omololu Ogunmade in Abuja and Eromosele Abiodun in Lagos The presidency yesterday attributed the widespread killings in the country to the
political enemies of President Muhammadu Buhari, saying they were the sponsors of the killing machines that have sent many Nigerians to their untimely graves. According to the Special
Adviser to the President on Media and Publicity, Mr. Femi Adesina, who spoke on Arise TV, a THISDAY sister broadcast network, the president’s enemies resorted to the bestial act to discredit his
scorecard on security, which he said was one of the threeprong plank Buhari ascended the presidency. He stressed that the killings across the country were being instigated and sponsored by
the opposition to weaken the incumbent government as much as possible. The presidential spokesman said security agencies were investigating those behind the killings in the country, warning
that once they were identified, they would be dealt with. He also stated that the protests around the country over the killings were driven Continued on page 8
Finally, Buhari Signs 2018 Budget with Reservations Laments N347bn cut in executive votes, N14bn increase in N'Assembly estimates We acted in national interest, say lawmakers Omololu Ogunmade in Abuja Amid lamentations and outright displeasure, President Muhammadu Buhari yesterday in Abuja signed the 2018 Appropriation Bill into law. “I am concerned about some of the changes that the National Assembly has made to the budget proposals that I presented,” he told the nation in a speech that evidenced bottled up anger, adding, “Notwithstanding the
above stated observations, I have decided to sign the 2018 budget in order not to further slowdown the pace of recovery of our economy, which has doubtlessly been affected by the delay in passing the budget.” The reaction of the National Assembly to the veiled presidential indictment was swift and concise yesterday with the Senate Deputy Majority Leader, Bala Ibn Na’Allah, who was at Continued on page 6
Saraki in Russia, Seeks Stronger Security, Economic Cooperation… Page 52
HIS CONDOLENCES…
L-R: Grand Khalifa of Tijjaniyya, Sheikh Ahmad Tijani Niass; President Muhammadu Buhari; and Executive Chairman of BUA Group, Abdul Samad Rabiu, during a condolence visit by the Sheikh to the president, on the passing of Khalifa Sheikh Isyaku Rabiu, at the State House, Abuja… yesterday