Bussiness News Round Up From June 27-July 1, 2022

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Firm Launches Cover To Protect Air Travellers 

A cover has been launched by Anchor Insurance Company Limited to protect air travellers and their luggage while travelling.

Ebose Augustine, the Managing Director of the company, assured the insuring public of value during the launch of a retail product called ‘Local Passengers’ Flight Welfare Scheme’, which was recently approved by the regulator, the National Insurance Commission. Read more here

Certificate Of Registration Of Two Insurance Companies Cancelled By NAICOM

The certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029 have been cancelled by the National Insurance Commission (NAICOM), with effect from June 21.

This was revealed in a statement issued by Rasaaq Salami, Head, Corporate Communications and Market Development of NAICOM in Abuja on Tuesday. Read more here

PZ Cussons Plc Records N758 Million Profit

The Q4 2021/22 unaudited results for the financial year which ended May 31, 2022 has been released by PZ Cussons Nig. Plc, revealing a profit of N758.37 million, representing an 11.71% increase year on year.

The financial report was released after the company faced a year of high inflation, during which consumers and businesses both had to contend with the rising cost of products and services, which resulted in buyers paying more for the same amount of goods. Read more here

Sanwo-Olu Approves N100 Increase In Fares Of BRT

Lagos State has granted the approval of a proposal for a bailout for the bus operating companies within the state.

The state also granted the approval for N100 increase in fares of Bus Rapid Transit (BRT) buses for all routes, which will take effect from July 13, 2022. Read more here

Tax Evasion: Ondo Seals Three Companies

Three companies have been sealed by the Ondo State Internal Revenue Service (ODIRS) on Tuesday in Ore, Odigbo Local Government Area of the state over unpaid taxes.

 Adebayo Ogunsuyi, Head of the Legal Department of the ODIRS, speaking after the sealing of the companies, said it is the right of individuals and companies to pay tax to the government. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.