Access Bank Unveils “Love is More” Campaign for Valentine Season to Celebrate Customers

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07/02/2023

Access Bank customers are in for a treat this Valentine season, as the retail giant is offering several discounts and mouth-watering freebies on its retail products and services to celebrate customers in this season of love.

The Valentine season campaign, tagged “Love is More,” will run from February 1 through March 11, 2023.

Robert Giles, Senior Retail Advisor, Retail Banking, Access Bank, told reporters at the campaign’s debut, “Valentine season provides us with another opportunity to demonstrate our love and appreciation for our customers for the years of loyalty and support for the bank. We are using this opportunity to thank our customers for their commitment to Access Bank. We value our customers and non-customers who rely on our services and products to conduct seamless banking activities, and we wish everyone the best of this season.”

Commenting further on the campaign, Njideka Esomeju, Group Head, Consumer Banking, Access Bank, said, “In the spirit of the season of love, we have unveiled several amazing offers to appreciate our customers during this month of love. Our customers who sign up for the XclusivePlus annual plan this month of February will not only receive a 10GB of data to share great moments with loved ones but will also get a 10% discount off their total purchases on Konga. Small business owners (SMEs) who open a Diamond Business Advantage Account (DBA) and grow their balance to N1,000,000 (DBA Trader Lite and DBA Basic) or N5,000,000 (DBA Growing to Prestige) and perform at least 2 transactions on the AccessMore app before February 28 stand a chance to win a free business protection bundle, a gift box, or a one-month fee waiver.

This season, when our women use their “W” branded debit card at Beacon Health Diagnostics, they will receive a 20% discount on cervical cancer screening. Ladies, you can get your “W” debit card today from any Access Bank branch close to you.

Customers who transact five times every week this February on AccessMore or *901# will qualify to win a N500 top-up on *901# and N1000 worth of data on AccessMore. In addition, we will provide our customers with free vehicle registration when they acquire a brand-new or pre-owned vehicle from one of our registered dealers nationwide.

Our salary account holders with Access Bank are not left out, as they can access a bouquet of loan offers and enjoy a 5% interest rate reduction in the first month of the loan repayment.

We are offering these and so much more to show how much we appreciate our customers’ consistent patronage.

To join the reward train, dial *901# or download and log onto the accessmore app to open a new account. You can also visit any Access Bank branch near you to reactivate your account, and then start transacting immediately to enjoy the Valentine season campaign benefits,” Njideka said.

Access Bank is a leading full-service financial institution operating through a network of more than 600 branches and service outlets, spanning three continents, 18 countries and 49+ million customers. The bank is committed to providing innovative and convenient banking solutions to its customers.

Nigeria, Niger Republic Sign Agreement on Border Frequency Co-ordination

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Business Journal

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06/02/2023

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Nigeria and Republic of Niger have signed a bilateral agreement in Abuja for co-ordination of frequency utilisation along their borders to ensure seamless deployment of services around within the two countries.

The agreement signing ceremony was one of the highlights of the two-day Digital Economy Regional Conference, hosted by the Nigerian government and facilitated by the Federal Ministry of Communications and Digital Economy, which ended in Abuja.

Nigeria’s Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, signed on behalf of Nigeria, while his Nigerien counterpart, the Minister of Post and New Information Technologies, Mr. Moussa Baraze, signed on behalf of his country.

The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta and Niger Republic’s Chairperson of the National Council for Regulation of Electronic Communications and Post, Mrs. Aichatou Oumani, were witnesses to the agreement, which applies to the co-ordination of frequencies existing in the Nigeria-Niger transboundary areas between 87.5 megahertz (MHz) to 30 gigahertz (GHz).

The agreement indicated it will help in effective coordination and sharing of frequencies and channels in the ‘buffer zone or area’ on borderlines between the two countries and also help to address one of the major issues of signal interference regulation that may arise in telecoms signal transmissions by terrestrial telecoms service providers, as it spells out the procedures for regulating such cases.

The agreement, according to the two parties, provides, in part, that in case of harmful interference affecting one of the parties, the affected party shall inform the other party in writing for necessary action to be carried out.

“Also, the party from whence the interference is originating shall ensure that all necessary means are used to resolve the harmful interference within 30 days of receipt of the notice”, the agreement says.

While the Agreement is without prejudice to the rights and obligations of the parties specified in the Convention, the Constitution of the International Telecommunication Union (ITU) and other inter-governmental arrangements, it states, however, that the land and mobile services whose use is restricted for security, maritime and national defence or for which information is not available, shall not be subjected to the provisions of the agreement.

Anchor Insurance MD, Austin Ebose, Bags Insurance CEO of the Year Award

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Business Journal

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06/02/2023

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Augustine Ebose

Managing Director/CEO

Anchor Insurance Company Limited

The Managing Director, Anchor Insurance Company Limited, Mr. Ebose Augustine Osegha, has bagged the Insurance CEO of the Year award in The Lagos CEO Awards event being organised by Kijani Media Communications.

In a letter signed by the Head Jury/Convener, Ambassador Ayo George and received by Mr. Ebose over the weekend, the body noted that” the jury, eminent people and indeed the good citizens and residents of Lagos have found you worthy of this honour largely for your hardwork, boardroom genius and your impeccable influence in the city and beyond.”

While congratulating the Anchor Insurance’s boss for making the list of awardees, the letter stated: “Indeed, to be amongst the top 20 CEOs in Africa’s commercial nerve centre in the year 2022 in review is a great pointer to the fact that you are worth your mettle,” noting further that “as it were, you are one of the very top bosses oiling the business and commercial engine of Lagos. “

According to the Chief Convener, “the ideas and activities by Anchor Insurance Company Limited in year 2022 were bold and revolutionary which were not common practices in the nation’s insurance sector before now. This in our rating, stood the Company out as one that was thinking out of the box and doing things differently in that sector, hence this well-deserved recognition that is being accorded the organisation’s leadership.”

Ebose who sits at the helms of affairs of the Fastest Growing Insurance Company of the Year award winning company and a Member of the Governing Council of the Nigerian Insurers’ Association (NIA) expressed his appreciation on behalf of the Board, Management and Staff of the organisation, saying that “it was an award which calls for more challenging activities and engagements.”

He thanked the public for believing in the business strength and brand direction of the company and promised not to disappoint the organisers in their judgement for the award.

Vice Chairman, Local Organising Committee on ECOWAS Brown Card Scheme Council; Member, Governmental Relations Committee of the Chartered Insurance Institute of Nigeria (CIIN) and Advisory Board member, Institute of Counselling in Nigeria. He was also a Member of the Organising Committee and Logistics/Publicity Committee respectively of the African Insurance Organisations’ (AIO) Conference hosted by Nigeria in 2021.

He is a Fellow, Chartered Institute of Administration; Member, Chartered Insurance Institute of Nigeria (CIIN); Member, Institute of Directors (M.IoD) and Member, Ikoyi Club 1938, among others.

NCDMB Begins 2023 with Level 5 Platinum Ranking from FG Agency

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03/02/2023

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Higher and higher soars the Nigerian Content Development and Monitoring Board (NCDMB) as it shatters the records again, emerging “a Level 5 Platinum Level organisation” in a summary report of the Bureau of Public Service Reforms (BPSR) Self-assessment Tool (SAT) released in Yenagoa on Wednesday.

According to the Federal Government Bureau, the rating translates as “Exceptional Performance with a performance level of 90.5%.”

In September 2022 the Board was adjudged the best among Ministries, Departments, and Agencies (MDAs) in the Executive Order (EO1) performance ranking for Ease of Doing Business for January to June 2022.

After that ranking by the Presidential Enabling Business Environment Council (PEBEC), NCDMB’s Executive Secretary, Engr. Simbi Kesiye Wabote, was conferred with the “Distinguished Capacity Development Award” by President Muhammadu Buhari in October.

BPSR, at a presentation ceremony at the NCDMB Conference in Yenagoa, Bayelsa State noted that NCDMB is structured to achieve its vision, mission and strategic objectives, which have been effectively communicated to relevant stakeholders and well understood by staff.

Continuing in what it terms “validated assessment and in-depth analysis of processes and practices of the agency,” the Bureau reported that “NCDMB has adopted robust financial and accounting policies that comply with financial regulations and are clearly reviewed to ensure efficient and reliable financial reporting, such as e-payment for all transactions – supplies, contracts, salaries and entitlements of staff.”

On the Board’s ‘Key Areas of Weakness,’ the Bureau said among other things that “The Governing Board has not ensured the establishment of an anti-corruption policy with an entrenched whistle-blower mechanism for NCDMB,” and that “The organisation’s strategic plans did not incorporate generation of additional financial resources with mechanisms to ensure transparent management and reporting on performance such resources.”

To underscore its conviction that NCDMB would strive for higher levels of performance beyond its Level 5 Platinumranking, the Bureau recommends that the Board “Develop formal code of conduct defining standards of behavior to which individual Governing Board members of NCDMB subscribe and adhere.’ Also, that “The procurement staff are encouraged to sign an affidavit regarding their commitment not to engage in practices involving conflict of interests to improve compliance with the provisions of PPA 2007 [Public Procurement Act, 2007.”

Presenting the report, the Director General, BPSR, Dr. Dasuki Arabi, hinted that NCDMB is the first agency under the Ministry of Petroleum Resources that submitted itself willingly to undergo the assessment since the Bureau was mandated to deploy the tool in all federal ministries, departments and agencies.

Represented by the Head, Strategy, Innovation and Research, BPSR, Mrs. Mercy Okon, the Director General confirmed that the assessment was free from any influences and recommended the Board work with the Bureau to deepen reforms.

In his closing remarks on behalf of NCDMB Management, Director of Monitoring and Evaluation, Mr. Akintunde Adelana thanked the BPSR, particularly its Director General for the painstaking assessment exercise and assured that the exceptional grade achieved by NCDMB would spur its staff to even do better. Noting that “Getting a Platinum Level award is no mean feat,” he promised that recommendations made by the BPSR would be carefully studied and implemented for even greater results.

NAICOM’s Sensitisation Program on Compulsory Insurances Lands in PH

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Business Journal

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01/02/2023

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Mr. Rasaaq Salami, Head, Corporate Communications & Market Development at the National Insurance Commission (NAICOM) addressing participants at the sensitisation program on Compulsory Insurances in Port Harcourt, Rivers State.

Stanbic IBTC Trustees: ‘Educating Every Nigerian Child Our Priority’

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Business Journal

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01/02/2023

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Stanbic IBTC Trustees Limited, through the Stanbic IBTC Education Trust (SET), has made assisting Nigerian parents and guardians secure their children and ward’s academic future one of her top priorities.

SET is a flexible and easy investment plan with long-term benefits that support parents and guardians striving to provide quality education for their children and wards.

With SET, parents and guardians can ensure the payment of their children and wards school fees as education-related expenses are directly effected to the institutions of learning, be it elementary to tertiary levels. This action ensures that unforeseeable events do not cause a disruption in their education which may negatively impact their future.

Education trust funds are invested in conservative type instruments and professionally managed and administered by a reputable Corporate Trustee and Fund Manager.

Parents and guardians can also nominate their children and ward’s SET accounts as a beneficiary for their life insurance policies a clear example is the Group Life Insurance Policy. Situations like this would ensure that the portion allocated to each child’s SET account is received and utilised for the child’s education. This has proven to be extremely beneficial if the child is a minor (under 18 years of age) or still in school.

Speaking about the positive impact of SET on the Nigerian child, Mr. Charles Omoera, Chief Executive, Stanbic IBTC Trustees Limited, said that the organisation understands the significant impact of quality education on every child and the positive effect it will have in shaping their future.

Omoera urged parents and guardians to put in place SET for their children and wards to help them address any adverse circumstances likely to halt their education. He stated that parents and guardians must always strive to give their children and wards quality education, to position them for rare opportunities attached to the benefits of having quality education.

Stanbic IBTC Trustees remains committed to ensuring that Nigerian children have access to quality education from elementary to tertiary education to help develop their minds and contribute meaningfully to society.

LIRS Boss, Ayodele Subair, Bags Vanguard’s Public Sector Icon Award

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01/02/2023

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L-R: Mrs. Enonuya Angela- Assistant Director, Personal Income Tax, LIRS, Asiwaju Solomon Kayode Onafowokan, former President Lagos Chamber of Commerce & Industry and Chairman, Coleman Wire and Cables presenting the 2022 Public Sector Icon of the Year Award to Ayodele Subair, (middle) Executive Chairman, Lagos State Internal Revenue Service, LIRS, Ms Coker Folashade- Director, Informal Sector and Special Duties, LIRS and Mrs. Bolaji Akintola, Director, Tax Audit, LIRS during the 11th edition of the Vanguard Personality of the Year Award held over the weekend in Lagos.

Mr. Ayodele Subair, Executive Chairman, Lagos State Internal Revenue Service (LIRS) has been conferred with the 2022 Public Sector Icon of the Year award at the 11th edition of the Vanguard Personality of the Year Award held in Lagos on Friday, January 27, 2023.

The glamorous ceremony chaired by Mrs. Ajoritsedere Awosika, Chairman of Access Bank, is an annual event where eminent personalities who have distinguished themselves in professional excellence and service to humanity in the private and public sectors are honoured.

According to the organizer of the event, Vanguard Newspaper Limited, the LIRS boss, Subair, was conferred with the special award in recognition of his magic wand in the Lagos state tax revolution during the last seven years of being in office.

Receiving the award, alongside some of the LIRS directors, Subair expressed gratitude to the Vanguard Newspapers’ management for finding him worthy to be selected for the honour.

“I must thank the chairman and management of Vanguard Newspapers. They’ve been there as the vanguard leading the way in developments and new ideas for many years. To be on top is not very easy. They are one of the best newspaper organisations in Nigeria. I say kudos to them.”

Speaking further, Subair noted: “I feel very proud about our achievements at LIRS. It’s not just about me. It is about LIRS, the management, the directors, and staff, including most importantly, His Excellency, Governor Babajide Sanwo-Olu for his immense support and encouragement.

Also, the Lagos State House of Assembly, the Judiciary and all stakeholders that have contributed to our success.”

Commenting on the impact of the award, the LIRS chairman said it had thrown the agency up for more good work.

He said the agency is happy to be contributing to the development of Lagos State and humanity. According to him, “Without mobilisation of funds, there can’t be any meaningful development.”

Born on May 21, 1960, Subair holds a Bachelor of Arts Degree in Economics from the Metropolitan University of Manchester, United Kingdom.

He also holds a Master’s Degree in Business Administration from the University of Lagos. A fellow of the Institute of Chartered Accountants of Nigeria, ICAN, member of both the Chartered Institute of Taxation of Nigeria, CITN, and the Business Recovery and Insolvency Practitioners Association of Nigeria, BRIPAN.

Prior to his appointment in 2016, the internally generated revenue, IGR, by the LIRS, hovered around N240 billion, but with his astute knowledge and experience in accounting and taxation, Subair has increased revenue generation to N427 billion, nearly doubling the initial revenue at the start of his tenure.

Subair has introduced various innovative measures to shove up the tax revolution in Lagos State, which included the introduction of e-Tax, which has resulted in a faster turn-around time for tax processes, improved transparency, and increased taxpayer self-service.

At the prestigious Award night, aside from the LIRS boss, other eminent Nigerians were conferred with different categories of awards, including the President of Dangote Group, Alhaji Aliko Dangote, who won the Personality of the Year Award.

Governors Emmanuel Udom of Akwa Ibom State, Babagana Zulum of Borno State, Ifeanyi Okowa of Delta State, AbdulRahman Abdulrazaq of Kwara State and Seyi Makinde of Oyo State emerged as Vanguard Newspaper 2022 Governors of the Year.

Also honoured were Chairman of NDLEA, General Buba Marwa (rtd), Founder/CEO, Techno Oil, Nkechi Obi, Ray Ekpu and Mohammed Bello Koko, CEO, Nigerian Ports Authority (NPA) among others.

Earlier, speaking at the award ceremony, General Manager/Editor-in-Chief of Vanguard Newspaper, Mr Gbenga Adefaye, said that for a decade, Vanguard Newspaper has continued to recognise Nigeria’s most distinguished individuals for excellence, national pride and service to humanity.

Adefaye noted that these individuals in business, politics and other facets of human endeavour have not only achieved great success but have been responsible corporate citizens, impacting society and the environment.

“They have been innovative and forward thinking and have taken bold steps to shape the future of their industries and served with integrity and dedication to improve the nation “There are numerous ways to make a positive influence, whether by volunteering our time, closing market gaps, spearheading innovation, being a model citizen or simply lending a helping hand to people in need’’ he said.

Hosted by actress and television presenter, Zainab Balogun and her male colleague, Deyemi Okanlawon, the ceremony had in attendance society’s Crème de la crème including captains of industry, members of the diplomatic corps, businessmen, and women businesswomen, media personalities as well as members of the culture and creative industry.

Ecobank Wins Best Place to Work in Africa 2022 Award

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01/02/2023

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Ecobank Group the leading pan-African bank, has won the highly coveted Best Place to Work in Africa 2022 Award from the Best Place to Work organisation.

The Award honours organisations that exhibit the highest standards of excellence in Human Resources (HR) practices and employees’ experience. Ecobank is the first Pan-African bank to have been awarded the certification.
Ade Ayeyemi, Chief Executive Officer, Ecobank Group, said: “At Ecobank, we recognise that our people are our greatest asset. As a pan-African bank, we are intentional in deploying resources to attract, develop and retain the right talent. We actively provide the tools and processes to achieve a performance-driven culture and enabling environment. Receiving international recognition as being one of the Best Places to Work in Africa is a great honour. It is noteworthy that this Award would not have been possible without the support of my colleague Ecobankers.”
The certification programme involves rigorous assessment and rankings based on the results of robust and objective assessments carried out at various hierarchical levels and across HR operations and procedures.

It includes HR Assessment and an Employee Assessment Survey. Areas covered include HR practices, compensation, benefits, leadership, teamwork, employee engagement and Corporate Social Responsibility (CSR).
Yves Mayilamene, Group Executive, Human Resources at Ecobank, commented: “We support and empower our talent to excel in an enabling and conducive working environment while investing in their growth and wellbeing. At Ecobank, we always seek to provide our staff with opportunities to advance and achieve their full potential through our learning and development initiatives. This Best Place to Work Award is a tribute to our Ecobankers’ commitment to exhibiting and living our values, as well as creating the right corporate culture.”
The assessment process resulted in the Ecobank Group achieving a total certification score of 79% – any percentage above 75% is considered high. The certification of the Best Place to Work accreditation is for one year (November 2022-November 2023).
Best Places to Work certified organisations tend to outperform the market average in terms of driving consistent long-term business performance through high employee engagement, engaging leadership and talent focus. Becoming a certified organisation means employees are inspired, engaged and motivated to do their best, everyday and everywhere.
During the celebration event, Peter Burke, President of Best Companies Group, extended his heartful congratulations to Ecobank by emphasising on the uniqueness of this Award that strengthens the Ecobank Employer Brand. He added:” You are being recognised for creating workplaces where your employees love to come to work. You are the envy of all other employers. Keep up the good work.”
The Best Places to Work certification is a globally recognised flagship employer of choice programme and is delivered in partnership with Best Companies Group. The Best Company Group is a well-established US company focused on identifying and recognising best employers in over 60 countries around the world.
In Africa, there were 29 Best Places to Work organisations recognised in 2022. These include Alsa, eHealth Africa, Hilti, IHS, Ooredoo and Pharma 5. Some global companies with operations in Africa – such as AstraZeneca, Dell, Nestlé and Roche – were also among the winners.
The Best Place to Work in Africa Award followed another significant recognition for Ecobank as the Best Employer Brand in Africa, from the Africa Best Employer Brand Awards 2022. It honours the top organisations in Africa who are exemplary in HR.

The judges for this Award considered business progress based on public available information and many aspects of People/HR strategies including Talent Management and Development; Diversity and Inclusion; Women Empowerment; Promoting and Managing Health in the workplace; and CSR Initiatives.

NIA: Brokers Generated 60% of Insurance Premium in 2021

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01/02/2023

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L-R; Hon Auditor, the Nigerian Council of Registered Insurance Brokers, Mrs. Funke Adenusi; Executive Secretary/CEO, Mr. Tope Adaramola; Deputy President, Mr. Tunde Oguntade; Guest Speaker, CEO of Dapsaderk Consulting Ltd, Mrs Adekunle Aderemi; Chairman, Lagos Area Committee, Mr. Demola Olutusin and Special Guest, Director General, Nigerian Insurers Association, Mrs. Yetunde Ilori at the Management Retreat of the Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos.

Insurance Brokers contributed 60 percent of insurance business in Nigeria in 2021, affirming the market as Brokers’ dominated.

Giving this disclosure, the Director General of the Nigerian Insurers Association (NIA), Mrs. Yetunde Ilori stated that out of the 60 per cent, 80 per cent of it was for Non-Life Insurance business while 40 per cent was contributed for Life.

Ilori who spoke at the Management Retreat of the Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos, noted that Brokers in the Lagos Market contributed 60 per cent of the business volume, underscoring the strategic importance of the Brokers located in the axis.

“Though it is affirmed that these businesses come from Lagos, the NIA would soon go granular to determine whether the Brokers that brought in the businesses were domiciled in Lagos or just have their branch offices there”, Ilori stated.

She noted that the high volume of businesses coming from Insurance Brokers behooves on them the responsibility to be more creative and ingenious in adding more value to the insurance industry and by so doing increasing the penetration and acceptance of insurance by the populace.

Ilori admonished Brokers and all other insurance operators to be dissatisfied with the status quo and always think of doing things differently in order to record the required changes and progress required in the industry, which she noted still operated below its optimum capability.

Speaking on the theme “Leading for Change”, the CEO of Dapsaderk Consulting Limited, Mrs. Adekunle Aderemi told the delegates to imbibe transformational leadership in order to change the narrative of the insurance industry in the country.

She averred that change management was a desirable skill for all managers and leaders of business in the world in order to cope with the changing dynamics of work and professions, stating that the insurance industry required more dynamism on the part of leadership to meet the changing expectations of the populace in risk management and insurance.

The Executive Secretary of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Tope Adaramola, who spoke on “Effective Relationship Management”, noted that since all professions and businesses are people-based, professionals must school themselves in the art of people- management, as a way to excel in the changing world.

Adaramola advised professionals to place priority on personal values, good ethics, effective communication and social relationships in order to break even in life and their various professions and avocations.

As Construction Risks Rise, Insurers Seek New Learning Tools to Remain in Business

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Business Journal

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31/01/2023

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Mr. Tope Smart

Immediate Past President

African Insurance Organisation (AIO)

& Group Managing Director/CEO

NEM Insurance Plc

Prince Cookey reports!

Building collapse and its attendant pressure on insurers is fast becoming a new headache for operators in Africa’s insurance sector.

Indeed, latest figures on building collapse in Nigeria by the Building Collapse Prevention Guild (BCPG) suggests that about 61 buildings came down across the country in 2022 with Lagos State accounting for 20 of such incidents, representing 48.7 percent of cases.

In the same vein, the Lagos State Emergency Management Agency (LASEMA) also released its own data which states that 24 buildings collapsed in the State between January and July 2022.

While there is constant debate on why buildings usually come down, a recent report by the British Broadcasting Corporation (BBC) named five factors for such incidents:

The foundations are too weak
The building materials aren’t strong enough
Workers make mistakes
The load is heavier than expected
The strength isn’t tested

The Challenge of Compliance

The major challenge of checkmating incessant cases of building collapse in Nigeria is non-compliance with Sections 64 & 65 of the Insurance Act of 2003 which makes it compulsory to insure public buildings under construction against injuries or death to third parties in the event of any collapse.

In recent years, both the National Insurance Commission (NAICOM) and operators under the aegis of the Nigerian Insurers Association (NIA) have intensified public awareness on the issue without maximum result.

But in Lagos State, there is renewed commitment by the State Government to reverse the trend.

Mr. Lanre Omojola, Director-General, Lagos State Safety Commission (LSSC) made that clear in a recent statement:

“Our role is to ensure that there is enforcement but we are starting with engagement. We are partnering all the insurance companies in provision of digital solution platform for insurance cover. Safety is everybody’s responsibility and we shall continue to step up our responsibility at ensuring that there is safety across the state. That is why insurance comes in; that is why we are engaging and educating the public to ensure its sustainability.”

The Seminar

To stem the tide and probably develop new skills in construction risks business, insurers are turning to experts in the field to learn new tools to drive that segment of the market profitably.

In Nigeria, the Singapore-based Talent Asia Training & Consulting in collaboration with Grilas Consultancy (Pty) Limited of South Africa recently hosted a physical training session for the Nigerian insurance / reinsurance industry on a construction risk related topic: “Appreciating the C.A.R/ E.A.R Insurance Policy and How it Works – Plus Focus Session on A.L.O.P/ D.S.U Coverage.”

The training was presented by Pooba Mahalingam, Regional Risk Consultant while the other expert facilitator, Mr Reuben Chikudo delivered live via Zoom from South Africa.

With over 30 participants drawn from Reinsurers (Zep Re, African Re, Continental Re, Waica Re), Insurance Companies (NSIA, Axa Mansard) and related industry professionals and intermediaries, the focus was about risk and insurance aspects relating to project development.

The Objective

The workshop shared case studies, clauses and wordings relating to Construction Risks issues like conditional terms, endorsements and some interesting scenarios from project delay insurance coverage.

The purpose was to provide better understanding of engineering risk and insurance, application of the policy coverage and policy endorsement issues, differences between the insurance policy jacket and schedule.

Mr. Reuben Chikudo, Chairman of Grilas Consultancy (Pty) Limited commented:

“Great to be working with Pooba from Singapore who is willing to impart his technical knowledge with the participants from Nigeria. I have seen him in action in various events in Singapore and Dubai. We found that the participants were very interested and the session continued beyond the allocated time-line each day. It was a good and effective learning session….”

Comments from Participants

A few interesting quotes collated from the participants at the end of the training session:

Thanks to Talent Asia and Grilas for arranging this interesting event in Lagos with the facilitators who have this specialized engineering insurance expertise.
Frances Nwogbe – Waica Re
Appreciate the efforts to bring two experienced trainers, Pooba and Reuben who shared relevant key points during this 2-day session.
Emmanuel Ajibade – Continental Re
We found the technique of presentation in an interactive format very effective; Thanks to Talent Asia for this.
Kehinde Omotayo – Africa Re
The technical knowledge and presentation skills of Pooba as the Facilitator deserves commendation. Well done to Singapore for arranging this session.
Olufunke Utomwen – Zep Re
Very enlightening, both with content and the approach to the knowledge sharing.
Nkeonyeasua Olagunju- NSIA Insurance

NB: First published in Africa Ahead!

Transcorp Hotels Calabar Promises Guests Peace of Mind with Heirs Life’s Term Assure Plan

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Business Journal

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30/01/2023

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Niyi Onifade

Managing Director/CEO

Heirs Life Assurance

Transcorp Hotels Calabar has collaborated with life insurance company, Heirs Life Assurance (HLA), on an affordable add-on life insurance package for guests.

With this plan, a variant of its popular Term Assure plan, Heirs Life assures guests of relaxation and peace of mind, confidence that the company will step in to make a payment in the case of critical incidents listed in the policy extracts.

This partnership further intensifies Heirs Life’s effort to democratise insurance, drive financial inclusion, and offer solid financial security to everyone. Available via the Transcorp Hotels Calabar guest reception, guests have the option to include the package as an added benefit to enjoying the premium hospitality services offered in the hotel.

Speaking on the partnership, the Managing Director/CEO of Heirs Life, Niyi Onifade said, “This partnership is a demonstration of our mandate to bring insurance closer to people. Through our collaboration with Transcorp Hotels Calabar, guests will access affordable, bite-sized life insurance right from the hotel’s premises. We are delighted to partner with Transcorp Hotels Calabar, a brand that aligns with our vision of impacting lives and transforming Africa.”

Commenting on the partnership, Dupe Olusola, Managing Director/ CEO stressed the commitment of Transcorp Hotels Plc to curating exceptional guest experiences.

She said: “This partnership is another way of showing our dedication to the wellbeing of our guests when they visit any of our properties. While we have put everything in place to ensure a perfect stay, we also believe in going the extra mile to provide even more for you.”

Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation (Transcorp Group) is the owner of the award-winning Transcorp Hotels Calabar and Transcorp Hilton Abuja. The hospitality brand also owns Aura by Transcorp Hotels, a hospitality platform for booking accommodation (homes or hotels) and experiences.

Since its launch into the insurance sector in June 2021, Heirs Life has continued to provide simple, quick, accessible, and reliable life insurance, retirement, and children’s education protection plans for Nigerians.

HLA offers a wide range of personalised life insurance protection and investment plans that provide financial security to individuals and businesses.

Heirs Life is a subsidiary of Heirs Holdings, a pan-African investment group with a portfolio spread across 24 African countries and four continents.

NCC CEO, Danbatta, Bags Vanguard’s 2022 Regulator of the Year Award

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29/01/2023

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The Executive Vice Chairman and Chief Executive of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, was at the weekend in Lagos, decorated with the 2022 Regulator of the Year Award at the prestigious 11th Edition of the Vanguard Personality of the Year Award where men and women who have distinguished themselves as achievers of excellence in their various fields of endeavours were honoured.

The award was conferred on Danbatta in recognition of the EVC’s effective regulatory achievements through cutting-edge initiatives, especially during his first five years in office during which Nigeria’s telecom sector has shown spectacular landmarks, at a glamorous ceremony in Lagos on Friday.

According to Vanguard Newspaper Limited, the organisers of the event, his initiatives strengthened the role of the telecommunications sector as a major contributor to the growth of Nigeria’s Gross Domestic Product (GDP) as well as telecoms investment inflows from $36 billion in 2015 to over $70 billion.

Danbatta also spearheaded a campaign to improve Nigeria’s broadband penetration from the paltry five percent at the time of his appointment to about 30% in 2018. The EVC is currently among those leading the charge for the realisation of the new national broadband penetration target of 70 percent by 2025 since his reappointment in office in 2020.

While presenting the award, Chief Abiola Dosunmu, the Erelu Kuti IV of Lagos, said Danbatta was eminently qualified and deserving of the distinct recognition conferred upon him.

Other eminent Nigerians who have distinguished themselves in professional excellence and service to humanity in the private and public sectors were conferred with various categories of awards at the event including the President of Dangote Group, Alhaji Aliko Dangote who won the Personality of the Year Award.

Other awardees include the Kwara State Governor, Abdulraham Abdulrazaq and Oyo State Governor, Seyi Makinde who were present and decorated and the Managing Director of Nigerian Ports Authority, Mohammed Bello Koko who won the Public Sector Icon of the Year.

Delta State Governor, Ifeanyi Okowa was represented by the Deputy Governor of the State, Barrister Kingsley Burutu Otuaro while Akwa Ibom State Governor, Udom Emmanuel was represented by the Secretary to the State Government, Dr. Emmanuel Ekuwem.

Distinguished guests at the event were the Ooni of Ife, Adeyeye Enitan Ogunwusi; Chairman of the Board of Commissioners of the NCC, Prof. Adeolu Akande; the Executive Commissioner, Stakeholder Management of the NCC, Adeleke Adewolu; some other members of the Board as well as Management and Staff of the Commission.

Beyond Tinubu’s Second Bombshell in Abeokuta

By

Business Journal

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27/01/2023

0

By Haniel Ukpaukure

There is something about Abeokuta, the Ogun State capital, which Bola Tinubu, the presidential candidate of the All Progressives Congress (APC), finds fascinating.

It needs be mentioned here that Tinubu is not from Abeokuta; he is not from Ogun State. The story has it that the APC presidential flagbearer comes from a very remote area of Osun State that is not even easy to remember.

It is one of the controversies that have trailed the man whose life story is shrouded in mystery that he, an ‘immigrant’ has, for more than two decades, taken control of Lagos State, literally making the real landowners virtually subservient to him.

He decides who occupies what political office – from local government ward councilor to chairman; house of assembly member and speaker; National Assembly member, and state governor. Such is the power he wields that he personally denied a second term opportunity to a governor who was generally adjudged to perform well, even better than him, ignoring entreaties from President Muhammadu Buhari and Vice President Yemi Osinbajo.

Despite not having any ancestral link with Abeokuta, Tinubu seems to have considered the rocky town with historical significance the appropriate place to make heavyweight political statements that arrest the attention of the entire nation each time he makes them. And he would choose his Yoruba language to make such statements, for reasons nobody understands.

Recall that it was in Abeokuta where Tinubu, then an aspirant, made his famous Emi lo Kan statement in which he succeeded in blackmailing Buhari into keeping off the presidential primary election of the party.

At a meeting of party stakeholders, he had told Nigerians how he helped Buhari achieve, in 2015, what he could not achieve since 2003. As if to remind the president of a deal that may have been made behind closed doors, he let it be known that it was his turn to occupy Aso Rock. He made the statement against the background of speculations and fears that the president may not be favourably disposed to handing over power to him.

The strategy worked, though not without any attempt by the president to confirm the fears. Not being a politician, Buhari’s feeble, halfhearted and last-minute attempt to push Ahmad Lawan, President of the Senate, into the presidential race using Abdullahi Adamu, the APC National Chairman as the point man, met with failure, thanks to Tinubu’s superior political power.

On Wednesday, January 25 – exactly one month to the crucial presidential election at which Nigerians would choose Buhari’s successor –Tinubu had cause, once again, to be in Abeokuta where he dropped yet another political bombshell (in Yoruba).

This time, it was a direct attack on Buhari (even if he did not mention the president’s name), with allegation of attempts to scuttle the presidential election and, by extension, deny him the victory he believes is his, already.

The APC candidate told a crowd of party supporters that the lingering fuel scarcity and the redesigning of the naira note are part of a grand plot to ensure the election, which he is poised to win, does not hold. His use of the words, “they” and “them”, almost throughout the statement, left no one in doubt about the direction he was firing his missile.

It would be surprising if Tinubu and his campaign managers expected Buhari minders to be so dumb as to believe the denials that came the following day, by way of explanations that the attack was not directed at Aso Rock, but the Peoples Democratic Party (PDP) that is not in government, and therefore has nothing to do with the two issues the APC presidential candidate complained about.

A primary school pupil in Nigeria knows who the boss of Godwin Emefiele, the Central Bank Governor, is, and who the minister of petroleum is.

Before now, political commentators had said APC was a special purpose vehicle that was coupled together with strange parts for the singular purpose of wresting power from PDP. The belief in some quarters had been that once Buhari completes his tenure, the internal wrangling promoted by the different tendencies that formed the party, which it had managed to keep under wraps, would succeed in tearing it apart and may lead to the demise of the party.

The Emi lo Kan statement and the latest outburst may be signs that Tinubu, who personally designed the special purpose vehicle and provided the bulk of the funding that saw to its construction, is bent on ensuring that does not happen without him occupying Aso Rock, even if it means publicly taking on the man he helped to power.

There have been concerns within the leadership of the APC Presidential Campaign Council that Buhari has not shown enough commitment to Tinubu’s ambition and may, in fact, not be fully in support of it, especially after he told Nigerians, quite unusually, to vote for any party and any candidate of their choice. That statement raised quite a number of eyebrows, coming from the president and national leader of the party who should naturally ask Nigerians to vote for his party’s candidate.

The statement from Aso Rock, in December, 2022, that Buhari would be involved in the party’s presidential campaign in 10 states was seen as way of addressing those concerns. The president has indeed been part of the presidential campaign in Jos, Damaturu and Yola, where he asked the electorate to vote for Tinubu to ensure his legacies are sustained. But that has not stopped a man like Tanko Yakassai, an elder statesman, from querying Buhari’s commitment to the party’s presidential campaign project.

Tinubu’s latest salvo in Abeokuta may be an indication that he knows what the rest of Nigerians do not know. Despite his vain attempt at dragging PDP into his controversial campaign statement, he knows in his heart that Buhari is not a fool, and knows the target of his diatribe.

It seems certain that the continued existence of APC in the post-Buhari era is totally dependent on its winning the presidential election of next month. For Tinubu, his continued relevance in Nigerian politics at the national level is hinged on his occupation of the seat of power from May 29, 2023. Having come this far, the presidency is a matter of life and death for him, perhaps more than any other candidate in the race.

If APC should lose the election, Tinubu would return to Lagos to continue his grip on the state for as long as he breaths, as he would no longer wield any influence on the party, nationally. And since there would be nobody of his or Buhari’s stature and influence to continue to rally the different interests together, for those who would be left behind, it would be, “To thy tents, Oh Israel”.

Ukpaukure, a media consultant, lives in Lagos

[email protected]

Great Nigeria Insurance Restates Commitment to Exceptional Client Services

By

Business Journal

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27/01/2023

0

Great Nigeria Insurance Plc has reiterated its commitment to delivering top-notch services to its teeming customers in 2023.

As part of its commitment to every policyholder under the stable of Great Nigeria Insurance Plc, the Management has again given the assurance that 2023 will be a rewarding year for all category of its Policyholders home and abroad, individuals or corporate organisations.

This was made known at the staff village meeting and thanksgiving held at the company’s Head Office in Lagos recently. According to the statement released by Oyinkansola Sobande, Manager, Corporate Communications, Brand Management & Customer Service.

The convener of the session and Managing Director/CEO of the company, Mrs. Cecilia O. Osipitan urged members of staff and other Senior Management colleagues to double up their efforts at ensuring that customers are kept satisfied at every touchpoint with the GNI Plc brand in the New Year and beyond. In her words, “we owe our customers the obligation to serve them more efficiently so that they can keep coming back as we are in business because of them”.

Osipitan appreciated the customers for their unflinching loyalty throughout the year 2022 despite the crunching economic challenges. She assured the customers of the company’s renewed vigour and greater capacity to add value to them in 2023.

She went further to stress that the company will continually do all within its power to ensure that the staff are constantly exposed to the best of human capacity development training both within and abroad with a view to expanding the professional horizon of the workforce and ultimately, engender quality and better service delivery to the customers.

In a similar vein, the Executive Director, Mrs. Roselyn Ulaeto assured the total commitment of the workforce to the organisation’s teeming customers in the most professional manner in making the Great Nigeria Insurance Plc Brand a preferred choice for patronage amongst the comity of insurance companies in the country.

She further mentioned that the Underwriting Firm is devoted to paying genuine claims. According to her, “the viability of any underwriting firm is evident in its prompt settlement of claims”. We are committed to that in every ramification, Ulaeto concludes.

Great Nigeria Insurance Plc is one of Nigeria’s forward looking insurance companies with Regional and Branch operations across the country.

More information about the products and services of the company can be gotten from its official social media handles @gniplc (Twitter, Instagram, Facebook and LinkedIn) as well as the website @www.greatnigeriaplc.com

New Naira Notes: Customers Groan as Banks Shut Down ATMs!

By

Business Journal

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27/01/2023

0

Godwin Emefiele

Governor

Central Bank of Nigeria

Bank customers are complaining bitterly as ATMs run dry, resulting in inability to source the new naira notes from bank ATMs as the January 31, 2023 deadline by the Central Bank of Nigeria (CBN) on old Naira notes loom.

Checks by Business Journal today around Ikotun area of Lagos revealed that virtually all the banks restricted their customers from accessing their ATMS to access the new Naira notes.

Secondly, customers that tried to withdraw from inside the banking hall were also given old Naira notes, resulting in many of them expressing shock and anger at the development.

An insider staff in one of the second-generation banks confided in Business Journal that the banks had no choice but to shut down their ATMs because they lack the new notes to load into the ATMs for customers to access as before.

To get the response of the CBN on the situation, Business Journal made several calls to Corporate Communications personnel at the CBN in Abuja without getting through.

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