The underwriter revealed this at its sixth yearly general meeting in Lagos, saying that based on the performance, the company’s board recommended the dividend payment of N46.84 million at three kobo per ordinary share.
Further breakdown of the results also showed that investment income grew from N151.26 million in 2021 to N204.55, while underwriting expenses rose by over 68 per cent from N434.5 million in 2021 to N728.19 million in 2022, causing a dip in the gross contribution. Nigeria would need about $7.6 billion to restore oil production to 2.1m/bpd by 2025 from the current 1.3m/bpd as of September.
Audit stakeholders in Nigeria have charged the newly appointed Auditor-General of the Federation , Shaakaa Chira, to be creative in the discharge of his duties, given the importance of the office and the challenges of accountability in the nation’s public institutions.