Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

Africa’s largest economy is unable to pay salaries

Friday, 11 13 2020, Category: Economy, Country: Africa
According to a local report in Nigeria, the government may be unable to pay the salaries of state employees starting this month, after President Muhammadu Buhari agreed last year to raise the minimum wage to 30,000 naira ($ 79).

“This Day” newspaper, published in Lagos, quoted the Director General of the Budget Office, Ben Akabuisi, as saying that about 60 percent of the total of 700 federal government agencies cannot pay wages due to lack of funding. This comes just two days after Festus Ossevo, president of the Association of Senior Petroleum and Natural Gas Employees in Nigeria, announced that a national strike organized by the trade union at the level of managers comes to demand 3-month wages owed to members working in state institutions.

Nigeria was overtaken by South Africa; To become the largest economy on the African continent, after expanding last year at the fastest pace in 4 years.

Source: al Khaleej Today
All copyrights reserved, Arab Reinsurance 2016 ©