This profit, according to the company, is coming on the back of expansion of business activities and astute management cost and financial controls measures put in place during the year. He stated that the company secured three new AutoReg Motor Vehicle Administration Documentation (MVAD) mandates while also renewing the contract with the Nigerian Insurance Association (NIA) for another year. “Our company will be seeking to expand its product base and to this end, emphasis will be placed on research and development. We will also be deepening our existing business relationships with the aim of growing our market share of the businesses and maximising total output,” he said. “The coronavirus induced lockdown disruption affected us negatively in term of profitability initially, but it allowed us to bounce back once the lockdown was lifted.

Source: The Guardian August 23, 2020 04:18 UTC