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Linkage Assurance delivers 748% profit surge in Q1 despite tough operating environment

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BY NKECHI NAECHE-ESEZOBOR—Underwriting firm, Linkage Assurance Plc has released its unaudited financial results for the first quarter ended March 31, 2026, posting a sharp surge in profitability despite a challenging operating environment.

The standout highlight is the company’s profit after tax (PAT), which soared by 748 percent to N6.25 billion, up from N736.3 million in the corresponding period of 2025. Similarly, profit before tax (PBT) jumped by 689 percent to N6.57 billion, compared to N833.2 million a year earlier.

This remarkable performance signals a decisive turnaround in bottom-line growth and positions Linkage Assurance among the standout performers in Nigeria’s insurance sector for the quarter under review.

A closer look at the results reveals a significant surge in investment and other income, which rose by 425 percent to N8.60 billion from N1.64 billion in the prior year. This underscores the company’s ability to navigate its operating environment and capitalise on market opportunities.

Insurance revenue for the period recorded a modest increase of 6 percent to N6.40 billion. However, insurance service expenses rose by 73 percent, reflecting the company’s readiness to meet claims obligations promptly and reinforce customer trust.

Linkage Assurance also strengthened its financial position during the period, with a more robust balance sheet as total assets grew by 13 percent to N87.27 billion from N76.9 billion, driven by increased investment holdings and business expansion.

Commenting on the results, Daniel Braie, Managing Director/CEO of Linkage Assurance Plc, said the company is strategically positioned to deepen customer confidence through quality service delivery and prompt claims settlement.

“What we have promised as an insurer is to be there for our customers when they need us. That is why we prioritise claims and ensure they are delivered promptly,” he said.

He expressed optimism about the company’s outlook for the coming quarters, noting that it remains well-positioned to sustain strong market performance and deliver value to stakeholders.

Management’s 2026 theme of “Consolidation” underscores a deliberate focus on balancing growth with operational efficiency. The company is prioritising expansion in profitable segments, operational and financial excellence, digital transformation, product innovation, and enhanced customer experience.

The post Linkage Assurance delivers 748% profit surge in Q1 despite tough operating environment appeared first on Business Today NG.

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UBA Champions Diaspora Healthcare Investment at ANPA America Symposium

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reaffirmed its commitment to strengthening diaspora engagement, advancing healthcare development in Nigeria through the introduction of its healthcare investment proposition to the Nigerian-American medical community at the 2026 ANPA Carolinas Symposium held in Charlotte, North Carolina.

The ANPA Carolinas Symposium, hosted annually by the South Carolina and North Carolina Chapters of the Association of Nigerian Physicians in the Americas (ANPA), convenes over 170 physicians and healthcare professionals for medical and scientific dialogue on issues impacting communities across North America, the Caribbean, and Africa, particularly among people of Nigerian descent.

Speaking at the event, UBA’s Head of Diaspora Banking, Anant Rao, made a compelling case for structured diaspora participation in Nigeria’s healthcare transformation, encouraging attendees to expand their contribution beyond remittances toward long-term institution-building.

“The financial infrastructure required to connect your success abroad to sustainable institutional impact at home has not been intentionally designed for diaspora healthcare investors until now,” Rao said.

During his presentation, Rao introduced the ANPA–UBA Diaspora Healthcare Investment Platform — a professionally managed investment vehicle designed to channel diaspora capital into specialist hospitals, diagnostic centres, telemedicine infrastructure, and medical training institutions across Nigeria.

“Every dollar invested delivers a dual return — creating value for investors while contributing meaningfully to Nigeria’s healthcare future. We now have the regulatory framework, banking infrastructure, governance structures, and institutional commitment to make this possible,” he added.

Under the proposed structure, UBA will serve as custodian and structuring bank, while United Capital Asset Management, one of Nigeria’s leading asset managers with over ₦1.2 trillion in assets under management, will act as fund manager.

As part of deepening engagement with the Nigerian-American medical community, Rao also proposed a Memorandum of Understanding (MoU) between UBA and the two ANPA chapters. The proposed collaboration is anchored on six strategic pillars: preferred banking offerings for ANPA members; quarterly financial education sessions; the joint Healthcare Infrastructure Fund; a dedicated ANPA Wealth and Legacy Desk; access to group-rate family healthcare plans through Avon HMO; and a UBA co-matching contribution framework to support qualifying impact vehicles under the Pearl Endowment Fund.

The initiative represents a further expansion of UBA’s diaspora value proposition, which currently includes Non-Resident Nigerian (NRN) accounts in multiple currencies, fixed-income and dollar-denominated investment solutions through United Capital, elder-care trust solutions under the Homeland Anchor Care Trust programme in partnership with Avon HMO, and private wealth management offerings tailored to senior diaspora professionals.

The 2026 ANPA Carolinas Symposium marks another milestone in UBA’s strategic engagement with the diaspora community and reinforces the Bank’s long-held belief that diaspora capital can play a transformative role in accelerating healthcare and infrastructure development across Africa.

The post UBA Champions Diaspora Healthcare Investment at ANPA America Symposium appeared first on Business Today NG.

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Budget office DG defends Tinubu’s foreign engagements, faults Peter Obi’s claims

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The Director General of the Budget Office of the Federation, Tanimu Yakubu, has defended the foreign engagement strategy of President Bola Tinubu, describing recent criticisms by the former Anambra State Governor, Peter Obi, as a “populist simplification” of Nigeria’s economic realities.

Mr Yakubu, in an article titled “Foreign Engagements and the Dangers of Populist Simplification: Peter Obi’s Ignorance,” argued that Mr Obi failed to appreciate the complexities involved in rebuilding investor confidence and restoring economic stability in a country emerging from fiscal and monetary challenges.

On 16 May, Mr Obi criticised the value of recent foreign state visits by Nigerian leaders, arguing that such engagements must translate into measurable economic benefits for citizens, rather than ceremonial visits.

“State visits by leaders are not tourism, and diplomacy is not a fashion parade,” Mr Obi said.

According to Mr Yakubu, the Tinubu-led administration inherited an economy burdened by structural weaknesses, including fuel subsidy costs, exchange-rate distortions, mounting debt-service obligations, dwindling investor confidence, and heavy reliance on the Central Bank of Nigeria (CBN) financing to sustain government operations.

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The Budget Office DG said under such conditions, international engagements should not be viewed as ceremonial trips but as strategic efforts aimed at rebuilding sovereign credibility, strengthening diplomatic relations, restoring investor confidence, and attracting long-term capital.

Mr Yakubu said the former Anambra state governor oversimplifies economic realities, which has a tendency to reduce complex questions of economic recovery.

“No serious analyst disputes that foreign engagements should ultimately produce measurable economic outcomes. The real issue, however, is whether Mr. Obi properly understands the sequence through which nations emerging from fiscal and monetary instability rebuild investor confidence, restore credibility, and reposition themselves within global capital markets.

“President Tinubu inherited an economy facing severe structural stress: an unsustainable fuel subsidy regime, multiple exchange-rate distortions, collapsing fiscal buffers, mounting debt-service pressures, dwindling investor confidence, and unprecedented dependence on Ways and Means financing simply to sustain government operations.

“Under such circumstances, international engagements are not mere ceremonial excursions; they become instruments for rebuilding sovereign credibility, restoring policy confidence, reassuring investors, strengthening diplomatic alignments, attracting long-term capital, and repositioning the country within regional and global economic networks,” Mr Yakubu said.

Economic comparison

He also faulted Mr Obi’s comparison of Nigeria’s economic situation with that of the United States under former President Donald Trump, saying the two countries operate under entirely different economic realities.

According to him, the United States engages China from the position of the world’s dominant reserve currency issuer, also as the largest consumer market on earth, and a mature industrial economy with deep capital markets and global technological dominance.

In contrast, the director general said Nigeria is a reforming emerging economy attempting to stabilize itself after years of fiscal distortion and policy disequilibrium.

Mr Yakubu further argued that the benefits of international engagements often take time to materialise, stressing that major investments, infrastructure partnerships, and sovereign financing commitments usually emerge gradually after sustained diplomatic and economic engagement.

ALSO READ: Ex-foreign affairs minister criticises Tinubu’s ambassadorial appointments

He described it as contradictory for critics to oppose reforms such as fuel subsidy removal and exchange-rate unification while simultaneously demanding immediate foreign investment inflows.

Mr Yakubu said its is inconsistent to oppose stabilization reforms on one hand while simultaneously demanding the investment confidence that only such reforms can eventually produce.

“More importantly, many of the benefits of state engagements do not materialize instantly in the form of dramatic headline announcements. Serious investments, infrastructure partnerships, manufacturing relocations, energy financing arrangements, and sovereign investment commitments often emerge gradually after sustained diplomatic engagement, policy stabilization, and investor confidence-building.

“Ironically, many of the same critics now demanding immediate investment inflows were among those who opposed the difficult stabilization reforms, including fuel subsidy removal and exchange-rate unification, that were necessary to restore the macroeconomic credibility investors require before committing long-term capital,” he said.

He extolled the administration and CBN’s achievements in stabilising the economy with reforms, and that Nigeria was approaching a dangerous fiscal cliff before the administration’s intervention.

“Diplomacy should indeed generate economic value. But rebuilding a damaged economy requires more than slogans, photo comparisons, or selective foreign analogies.

“It requires difficult decisions, international re-engagement, policy credibility, institutional stabilization, and the patience necessary for long-term economic restructuring to take root,” Mr Yakubu said.


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