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SUNU Assurance private placement records 100% subscription
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Sunu Assurances Nigeria Plc has announced a 100 percent subscription for its private placement exercise.
Disclosing this in a statement, Managing Director of the company, Mr. Samuel Ogbodu said that the private placement exercise of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share, with respect to the Private Placement Memorandum dated Monday, January 4, 2021 has been successful.
He stated that a total of two applications for 3,010,800,000 ordinary shares were received in connection with the private placement.
He said the two applications for 3,010,800,000 ordinary shares were found to be valid, accepted and processed accordingly.
He noted that the Securities & Exchange Commission has cleared the basis of allotment, adding that the Central Securities Clearing System (CSCS) accounts of successful allotees will be credited with shares allotted not later than February 12, 2021 by the registrars to the i
The National Insurance Commission, NAICOM, has lamented the declining participation of local insurers in big ticket businesses such as aviation, annuity as well as oil and gas risks underwriting.
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The consumer side of Nigerian fintech is full of new activity. Digital lenders offer loans in minutes, cryptocurrency first-movers abound, and startups are helping users invest in reliable financial assets.
In particular, the investment-tech sub-sector has appealed to many who feel uncertain about Nigeria’s economic trajectory. Millennial Nigerians have become serious about structuring and insuring their future wealth against the naira’s volatility.
One way to do this is to trade on stock markets through one of the app-based micro-investing services launched over the last 20 months. We wrote about Rise and Trove some months ago.
Chaka is one such platform. Founded in January 2019 by Tosin Osibodu, with Olaolu Ajose as the chief technology officer, the startup bills itself as an “investment passport” for users.