Shareholders have mandated AIICO Insurance Plc to raise its authorised share capital from N18 billion to N20 billion.
Speaking at its 50th Annual General Meeting held virtually, Kundan Sainani, AIICO’s Chairman, thanked the shareholders for the support given to the company.
Sainani reiterated board’s commitment to continue to steer the affairs of the company on the path of continuous and sustainable progress.
At the meeting, the shareholders also approved to increase its authorised share capital by the creation of an additional four billion ordinary shares of 50 kobo each.
Similarly, the shareholders further gave their nod for the declaration of one bonus share for every eight ordinary shares held by existing shareholders as of December 28, 2020, payable from retained earning.
The underwriter was asked to give another one bonus share for every five ordinary shares held by existing shareholders as of December 28, 2020, payable from share premium.
Managing Director and Chief Executive Officer, Babatunde Fajemirokun, praised the company for surpassing the December 2020 benchmark and making progress in its recapitalisation journey.
“There are no doubts that we have made some giant strides along this path. Beyond just meeting the requirements, we have seen the potential and value this exercise brings and have positioned ourselves to take full advantage for value creation, both in the short and long term,” he said.
Meanwhile, Zugacoin capital base has been estimated at 47 billion Dollars by CoinMarket Cap.
Zugacoin traded above 48,000 Dollars while Bitcoin traded on the higbest ever price of above 28,000 Dollars.
The currency which is first of its kind in Africa Specially created to help Nigerians and other Africans at large to tackle poverty in terms of buying and trading with Zugacoin owned by Archbishop Dr Sam Zuga, a Tiv indigene from Benue State in Nigeria is expected to hit 100,000 Dollars before the end of 2021.
“So, you are strongly advised to invest in ZUGACOIN for a brighter financial future by buying on indoex, Coingeko, coinmarketcap and other exchange platforms,” Zuga noted.
The founder, Zuga added, “We are going to teach State Governments in Nigeria and the Federal Government how to increase their IGR by 300% through ZUGACOIN in 2021. We will start giving loans to all African countries in 2022.
“Nigerians would get financial stability through ZUGACOIN. We have many projects that will improve the lives of Nigerians.”
