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Assessing Akwa’s NDDC

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By Haniel Ukpaukure

If President Muhammadu Buhari’s promise to put in place a substantive board for the Niger Delta Development Commission (NDDC) after the phased implementation of the recommendations of the forensic audit he ordered into its activities its anything to go by, then Nigerians should expect that the era of interim administration for the interventionist agency would soon come to an end.

While the promise by the president, made at the fifth National Council Meeting on Niger Delta in Uyo, recently, put paid to agitations for the end of interim administration in the agency, it predictably sparked struggle and intrigues among high-ranking members of the ruling All Progressives Congress members from the Niger Delta region over determination of the shape and composition of the board expected to be appointed for the agency.

It is pertinent to mention that Nigerians do not know the contents of the audit report, and its recommendations. It is therefore difficult to know when implementation of the recommendations started, and when it would end, especially since it is being done, as Buhari said, in phases.

It may be safe to assume, however, that since it is a firm promise and commitment from none other than the president, constitution of the long-awaited board would be done before the curtain falls on the life of the administration on May 29, 2023.

But while we await the constitution of a board for NDDC, it is important to look at the performance of the Effiong Akwa-led administration of the agency as sole administrator. The appointment of Akwa in December, 2020, followed the ruling of a Federal High Court in Abuja, which declared the Interim Management Committee of Professor Daniel Pondei as illegal. Before Pondei, Ms Joi Nunieh had held the same position.

Akwa’s mandate, among others, was to facilitate and fast track the forensic audit of NDDC which became necessary due to many years of unbridled corruption by previous administrations, with politicians from the region as the greatest beneficiaries.

His appointment was met with stiff opposition from some quarters, with some saying Buhari had no power under the law that set up NDDC to appoint a sole administrator for it, obviously ignorant of the president’s constitutional power to take any action he deems necessary for any government ministry, department and agency, which he considers to be in public interest. In the midst of the opposition, Akwa had the support of some major stakeholders in the region, including over 50 civil society organisations.

In the 22 months he has been in office, Akwa has tried his best to deliver on his mandate as someone whose job is a stop gap for the period the forensic audit of the agency lasted. He has facilitated and successfully managed a smooth exercise that saw a consortium of audit firms pore over the books of NDDC and visit project sites in nine states over many months – the first of its kind in the agency and, indeed, any government institution in the country. He deserves credit for this. Whether or not Nigerians will ever get to know the contents of the audit report is another matter.

Akwa has collaborated with the National Assembly on the amendment of the NDDC Act, to make reforms of the agency possible, especially the need to plug the loopholes that allowed the high rate of corruption that was witnessed since the establishment of the agency to thrive.

The NDDC, under his watch, has been able to carry out a number of interventions in the different states that comprise the Niger Delta in collaboration with state governors, aimed at providing the basic infrastructure and facilities that enhance quality of life for those for which they are meant – in educational and health institutions, including training of over 1000 youths in ICT, as well as other public facilities. Notable among such interventions was the construction of a 1050-bed hostel in the University of Uyo, Akwa Ibom State.

In one of such interventions, over 250 men, women and youths recently graduated from the Livelihood Improvement Family Enterprise Programme of the Federal Government in Edo State. The programme, which was funded by NDDC, International Fund for Agriculture (IFAD) and the Federal Government, was designed to promote agriculture as an alternative source of foreign exchange, with focus on rice, cassava, fishery and poultry farming. A similar programme is being implemented in other states of the Niger Delta.

In an initiative that was designed to positively engage youths in the region and channel their energy into productive ventures, NDDC organized the first ever Niger Delta Talent Hunt, a musical programme that was aimed at discovering musical talents in the region and building capacity for wealth creation.

The winner of the talent hint, Elvis Lunar, a singer from Rivers State, got the star prize of a car and performance trip to Dubai, while second and third place winners got N2 million and N1 million, respectively.

It mustn’t be forgotten that Akwa supervised the completion of the corporate headquarters of NDDC, a project that had been abandoned for over 20 years. I’m wondering if the money the agency spent on rent over since its establishment can easily be computed.

Akwa’s job has been made easy by the fact that he had been an insider in NDDC before his current appointment, his previous position being that of an acting executive director in charge of finance. He did not need to learn the ropes first, before settling into the job. He will certainly leave is mark when he bows out.

Ukpaukure, a media/publicity consultant and writer, lives in Lagos.

[email protected]

 

 

Lagos State, WACOT Sign MoU on Imota Rice Mill

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L-R: Partner, Banwo & Ighodalo, Azeezah Muse-Sadiq; Head, Corporate Communications, TGI Group, Rafiat Gawat; Company Secretary, TGI Group,  Omowumi Fajemiroye; Group Executive Director, TGI Group, Jerome Shogbon; Group Managing Director, TGI Group, Rahul Savara; Lagos State Governor, Babajide Sanwo-Olu; Attorney General and Commissioner for Justice, Lagos State, Moyosore Onigbanjo (SAN); Commissioner for Agriculture, Abisola Olusanya, and Special Adviser to the Governor on Agriculture, Dr. Rotimi Fashola, at the signing of the Agreement between the Lagos State Government and WACOT Rice Limited, a subsidiary of TGI Group in Lagos.

On the basis of its competence and efficiency, the Lagos State Government signed a partnership deal with one of the leading rice-producing companies in Nigeria, WACOT Rice Limited, to manage the state’s Imota Rice Mill.

Imota Rice Mill has a capacity of 32 metric tonnes and will be handed over to WACOT Rice Limited in the next few months. Imota Rice Mill is expected to commence commercial operation under the management of WACOT Rice Limited after the handover proper.

The Executive Governor of Lagos Stae, Babajide Sanwo-Olu, said, “Lagos State Government has set up two lines of 16 MT/hour capacity rice mill, in Imota, Ikorodu, Lagos State (the “Mill”), to meet the high demand for consumption of rice in Lagos State thereby pushing Lagos State towards self-sufficiency in the area of rice production and processing.”

The governor continued that “Lagos State Government is desirous of operationalizing the Imota Rice Mill through the utilization of the technical services of WACOT Rice Limited, a subsidiary of the Group, to provide commissioning and kick-off operationalization support services.”

The state hopes to benefit from the expertise of the leading rice producer in the country with deliberate improvements in quality, capacity, packaging, and general production of rice at the Imole Rice Mile to meet the increasing demands for rice in Lagos.

According to the Group Managing Director of TGI Group, Rahul Savara, said, “We thank the Executive Governor of Lagos State, Mr Babajide Sanwo-Olu, for being here with us as we hold Lagos in high regard as the centre of economic activity in Africa, not just Lagos. We are happy that in our small way we have contributed to that. We mostly take pride in being the best maker in the country.”

“We have been working very closely and will continue to work with Lagos State to make the facility run at its best. We will be deploying the best expertise, technique and training to make the Government proud of this investment,” Savara said.

On her part, Rafiat Gawat, Head, of Corporate Communications, TGI Group, said, “We are happy to be partnering with Lagos State as our economic core even though our factory is located in Argungu, Kebbi State a large number of our rice are demanded in Lagos. Since setting up the WACOT Rice Mill in 2017 we have doubled our production capacity and for the Lagos Government to partner with us, it’s a testament to our capability.

Other top management staff of TGI Group at the ceremony included the Group’s Executive Director, Jerome Shogbon, Company Secretary, Omowumi Fajemiroye, Head of Corporate Communication, Rafiat Gawat, and representative of Banwo & Ighodalo Partner, Azeezah Muse-Sadiq.

 

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Following a successful series of Verve Life 5.0 satellite events organised across the country, where fitness enthusiasts were treated to invigorating exercises, music and entertainment by renowned fitness experts and dance instructors; Africa’s leading payment technology and card brand, Verve is set to hold the final leg of its Verve Life 5.0 fitness and wellness events.

The events are slated to hold at the National Stadium in Surulere, Lagos on October 29, 2022, with the grand finale holding on November 5, 2022, at Landmark Event Centre, Victoria Island.

The firm also announced that for the first time since the inception of VerveLife, the fitness event will make its debut in Nairobi, Kenya on October 22nd, thereby giving fitness enthusiasts outside the shores of Nigeria an opportunity to partake in the stress-relieving, fun and fitness event.

The Verve Life event is an annual event held to encourage Africans to keep a fit and healthy lifestyle through fun and engaging activities. This year’s Verve Life 5.0 satellite event train started from Uyo and moved to other cities including Asaba, Enugu, Port Harcourt, Benin, Ibadan, and Abuja, spreading excitement along the way.

Speaking on the forthcoming events, Cherry Eromosele, Group Executive Vice President, Marketing and Communications, Interswitch Group, said beyond providing seamless and innovative payment solutions, Verve is also committed to growing a prosperous Africa and promoting fitness and wellness as a step towards achieving a prosperous continent.

She said “Since the inception of Verve Life, the event has grown to become one of Africa’s largest gatherings of fitness and wellness enthusiasts. Verve Life has expanded over the years and has morphed from a single event in Lagos to several activations across cities in Nigeria and now the event is debuting in Nairobi, Kenya giving it a truly pan-African outlook”.

Eromosele further said “Consistent with the Interswitch’s 20th anniversary theme ‘Never Stop’, Verve Life fitness events have been truly enriching, engaging, and exciting and we are not stopping. Rather, we are committed to expanding Verve Life fitness events in the coming years. Participants will be treated to more fitness routines, music and entertainment by celebrity fitness experts and entertainers from across the continent. Our focus is to never stop creating exciting experiences that connect our customers with their passion points.”

International fitness expert billed to feature at the coming events are Alvin Lee and Nigeria’s celebrity fitness experts such as Kemen, Kaffy, Ihuoma Nwigwe, Isoken Uwaifo, Enoyong and Trebla among others. There will be musical artistes present to thrill the participants as they work out.

Partners of this year’s edition include global sportswear brand, PUMA, Amstel Ultra, Techno Gym, Hygeia HMO and Aquafina.

Verve cardholders, fitness enthusiasts and other members of the public are enjoined to get set for an exciting and rewarding experience at the upcoming VerveLife 5.0 events.

Registration is ongoing at https://myverveworld.com/life

 

NAIPCO 2022 Confab: The Importance of SMEs in Micro Insurance, Pension

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As the November 3, 2022 date for the Annual National Conference of the National Association of Insurance and Pension Correspondents (NAIPCO) draws nearer, invited guests, speakers and members of the association are gearing up for the event which promises to be engaging, educating and informative.

The conference which has received the endorsement of the relevant regulatory authorities, the National Insurance Commission (NAICOM) and the National Pension Commission (PenCom) will discuss the theme “On-boarding Small and Medium Scale Enterprises into Micro Insurance and Pension Space in Nigeria.”

This year’s conference taking place at the Oriental Hotel, Lekki Road, Lagos which is the seventh in its series, will be chaired by Eng. Cyril Ajagu, a major investor in the financial services industry as well as the oil and gas sector while the Director-General, Lagos Chamber of Commerce and Industry (LCCI), Dr. Mrs. Chinyere Almona will deliver the keynote.

The Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Sunday Thomas, and Director-General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, will attend the occasion as Special Guests.

Amongst experts from financial service sector who will form the Panelists to discuss on how insurance and pension fund operators can bring the Small and Medium Scale operators into micro insurance and pension businesses include the Chief Executive Officer, Pension Fund Operators Association of Nigeria, (PenOp), Mr. Oguche Agudah; Managing Director, Enterprise Life, Mrs Funmi Omo; Mr. Niyi Onifade, Managing Director of Heirs Life Insurance Limited and Managing Director/CEO of NLPC Pension Fund Administrator (NLPC PFA), Mr.Samuel Abolarin.

The Chairman, Nigerian Insurers Association (NIA), Mr. Segun Omosehin; Chairman, Pension Fund Operators Association of Nigeria (PenOp), Mr. Olumide Oyetan; among others have confirmed their attendance at the event.

Expected also to attend are members of the Lagos State Pension Commission (LASPEC); Chartered Insurance Institute of Nigeria (CIIN); Nigerian Insurers Association (NIA); Nigerian Council for Registered Insurance Brokers (NCRIB); Professional Insurance Ladies Association  (PILA); Institute of Loss Adjusters of Nigeria (ILAN); Pension Funds Operators Association of Nigeria (PenOp); Association for Registered Insurance Agents of Nigeria (ARIAN) and College of Insurance and Financial Management (CIFM).

Others include members of the Small and Medium Enterprise Development Association of Nigeria (SMEDAN); Nigeria Union of Pensioners; Trade Union Congress; People Living with Disabilities; Barbers, Hairdressers, Market Men and Women, Vulcanizers, etc.

 

 

 

 

Mediacraft: Laura Oloyede is New GM, To Drive Next Growth Phase

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Mediacraft Associates Limited, a leading full-service public relations and integrated brand communications consultancy firm, has announced the appointment of Ms. Laura Oloyede as its General Manager/Chief Operating Officer effective September 19, 2022.

Oloyede’s appointment follows an extensive selection process that considered both internal and external candidates.

Oloyede has a broad and extensive integrated marketing communications experience, spanning over two decades in the industry and has held various job roles on both client and agency sides. Her strengths include corporate communications, brand positioning, reputation management, stakeholder management, brand and marketing PR, and crisis communications management.

She holds a first degree In Estate Management from the Federal University of Technology, Minna, Niger State, and a post-graduate diploma in Marketing from the University of Liverpool, UK.

Oloyede has worked for, and managed, some of the leading multinational companies across different economic sectors, including Financial Services, FMCG, Oil & Gas, Automobile, Aviation, Telecoms, and Entertainment. She has led the strategic communications drive for Coca-Cola, Ford Motors, Old Mutual, Nigerian Breweries, Multichoice, Peugeot, and StarTimes, among others. Over the last decade, before this appointment, Oloyede had functioned as the spokesperson for Ford Motors in sub-Sahara Africa.

As GM/COO, Oloyede will have oversight for the brand and corporate communications, business development, and client relations activities of Mediacraft, to ensure the company achieves its business objectives. She had functioned in a similar role at Prima Garnet Ogilvy Group where she was GM/COO of Cutler Ogilvy PR and Lampost Experiential with oversight for operational excellence and sustainable profitability. Oloyede had also served as the Vice President for Marketing and Communications for Nigeria’s first concessioned 50km Lekki-Epe Expressway. She has led agencies’ strategic operational direction, including business development, financial management and organizational growth.

“We are quite excited that Laura has accepted this new challenge and will be joining us as we recalibrate our business to make it more nimble for our next growth phase,” Group CEO, Mediacraft Associates, John Ehiguese, said.

“Laura has extensive communications, marketing and leadership experience in the industry and has demonstrated her ability to drive business growth. We are confident that the new energy and thinking she would be bringing will help drive Mediacraft forward.”

“I am very pleased to be joining Mediacraft Associates, certainly a leader in the PR industry. The prospect of working alongside the CEO, an industry giant, and his competent and capable team truly excites me,” says Oloyede.

“Mediacraft Associates has been very successful in transforming to a full fledge integrated marketing communications company over the last few years, managing communications for some of the biggest brands in the country, including the Stanbic IBTC Group, Interswitch Group, and Olam Group. I am certainly looking forward to helping the business further strengthen its industry leadership, in line with its growth objectives”, Oloyede concluded.

 

Why 2023 Population Census Must Be Postponed  

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By Michael Owhoko, Ph.D

Without prejudice to extent of preparations, has government genuinely evaluated reasons for dispute and rejection of previous census results in Nigeria before proceeding to organise another headcount?

Results of census conducted in 1962, 1963, 1973, 1991 and 2006 were all marred by anomalies and controversies allegedly engendered by manipulation and falsification of figures.

Were there any lessons learnt from these disputes? So far, all contentious issues that diminished and undermined the credibility of the previous exercises together with emerging fresh challenges are still widespread.

Distrust induced by ethnic dominance, religious supremacy, nepotism, inappropriate political structure, dishonesty, insecurity, corruption, poverty and socio-economic uncertainty are still staring at us as monsters.  Preconceived notion of increased revenue and political representation as basis for census rather than national planning and development, is another matter.

Without visible genuine efforts at resolving these hiccups, the National Population Commission (NPC) charged with conduct of census, including collation and analysis of population data has scheduled population census for April next year, approximately a month after the 2023 general elections holding between February and March.  The National Council of State has also gone ahead to endorse the exercise without rigorous evaluation of potential exposures.

In the face of current realities devoid of enabling environment, the timing is a miscalculation.  The general elections and census are both inflammable events, which should not be scheduled close to each other.  More worrisome is the fact that nobody can predict the outcome of the 2023 general elections which may likely spill into the census period.  From the body language of youths across the country who are major victims of years of misgovernance, it may not be business as usual.  So, why schedule a census under this condition?

Perhaps, if government had painstakingly carried out a risk assessment of the timing of both the elections and census within the context of Nigeria’s sociological complex configuration, both exercises would have been staggered apart by a minimum of one year.  No amount of risk mitigation strategy can contain associated emotions, particularly under a government that is challenged by trust deficit.  Rather than resolve these flaws, government is treading same path, with erroneous expectation of credible outcome.

In a multi-ethnic society like Nigeria where population census is used as basis for revenue allocation, the stakes are high, and so, citizens’ trust in government as an unbiased umpire devoid of sectional leanings, must not be in doubt.   Unfortunately, the distrust that characterized the previous failed exercises is popping up.

This is evident from the recent statement of Oyo State Governor, Seyi Makinde, when he advised NPC to “Be accurate and impartial. Declare what you capture. If the population of the state is less than 15 million, it is false and inaccurate. Do your work accurately.’’

By this declaration, Makinde has stirred up the hornet’s nest, and ready to reject any figure that is less than 15 million for Oyo State.  In the past, the Lagos State government rejected the 2006 census while the Igbo sociocultural organization, Ohanaeze, said the exercise reduced the Igbo to a minority group, casting aspersion on the credibility of the whole exercise.

Besides, all over the world, peace is a sine qua non and a critical factor for conduct of successful population census.  It is for this reason nations first determine its availability, and where otherwise, take appropriate measures to promote it, particularly ahead of major sensitive milestones like national headcount.

Currently, Nigeria lacks peace that is adequate enough to guarantee free and fair census.  Except to live in denial, the country is faced with unresolved multifaceted crises.  Peace is not only the absence of war, but also the existence of impediments to human endeavors.  Human delivery capacity in Nigeria is currently at its lowest ebb.

Where is the peace when travel and movement of goods by road or rail across the country is threatened by insecurity and associated risks?  Nigerians now invoke divine intervention for safe arrival at their destinations before embarking on a journey by road.  Inadequate security cover to facilitate safe deployment of men and census materials to all nook and cranny of the country may hinder the exercise. This also explains why NPC has not been able to demarcate enumeration areas in all the 774 local government areas in the country.

In the northern part of the country, particularly in the North East and North Central, Boko Haram, ISWAP, Fulani herdsmen, terrorists and bandits hold sway, driving fear among travelers. The southern part is also not better as travelers hold their breath until they get to their destinations due to fear created by these groups and other criminal elements.  So, how do you conduct credible census under this situation?

There are many families that have been displaced from their places of abode and ancestral homes, while others are either taking refuge in the bushes or are in Internally Displaced People (IDP)’s camp.  Those that have not returned to their homes owing to fear of being killed or kidnapped have not been accounted for.  Traces of these group of persons have not been established till date by relations or friends, and so, are unavailable for enumeration.

The National Bureau of Statistics (NBS) recently admitted that insecurity was having a toll on data collection for field surveys.

The Statistician-General of the Federation and CEO of NBS, Adeyemi Adeniran, disclosed this at a conference organised by National Statistical Association in Keffi, Nasarawa State, where he said that enumerators were unable to access certain parts of the country for data collection due to insecurity.

With this revelation, do we need a prophet to tell us that the 2023 population census cannot be achieved?  In the absence of any hidden agenda and desperation of government to score a political point, the NPC knows that it is difficult to achieve a reliable census figure under the current security setting, as there is no magic that can contain insurgency in the troubled areas before commencement of census in April 2023.

Where is the peace when corruption of census process is fueled by subsisting economic, political and demographic interests.  Some census officials are compromised in the course of gathering, collating, analyzing and producing data on population.  These officials are either bribed, intimidated or coerced to inflate or allocate numbers for ethnic advantage.  This has been the trend in all the census conducted so far in Nigeria.

Where is the peace when the credibility and capacity of the present administration under President Muhammadu Buhari to deliver on such an important project is smeared by skepticism induced by nepotism and presidential preferences, which have fragmented the country along ethnic and religious lines?  Suspicion and lack of trust among citizens have deepened more than ever before.

Where is the peace when the country’s border with Niger Republic is opened and reinforced by policy of issuance of visa on arrival, allegedly aimed at bloating Fulani population in Nigeria.

Illegal aliens from Niger Republic enter the country unchecked, while some others are alleged to have obtained National Identification Number (NIN) from the National Identity Management Commission (NIMC) to qualify them as citizens, thereby giving the North undue demographic advantage over the South.

Where is the peace when there is no grass root enlightenment campaign to draw attention to the exercise.  Majority of Nigerians are unaware of a scheduled census for April next year due partly to lack of access to electricity, internet and other communication networks.

How many Nigerians can confidently affirm that their households were enumerated during the last trial census conducted by NPC ahead of the main exercise?  I am sure millions of Nigerians were not aware.

Where is the peace when enumerators are constrained by poor demographic maps caused by unreliable digital technology, including geographic information system (GIS), satellite and aerial photographs, cartography and geographical positioning system (GPS), resulting in inability to capture remote areas with difficult topography.

Where is the peace when insufficient capacity building and dearth of qualified personnel are further constraints. NPC is currently not fully equipped with enough skilled personnel, forcing it to rely on ad- hoc and temporary personnel, including members of the National Youth Service Corps (NYSC) who are inadequately trained.

Notwithstanding the United Nations’s recommendation that census be conducted every 10 years, Nigeria is not ready for the 2023 census.  Population census is a sensitive matter that must be conducted under an atmosphere of peace to achieve credible and desired outcome.

The 2023 population census should therefore be postponed till such a time when all grey areas would have been addressed by NPC, otherwise, the exercise will amount to waste of time and resources, including the over N200 billion budgeted for the scheme.

 

Dr. Mike Owhoko, Lagos-based journalist and author, can be reached at www.mikeowhoko.com.

 

 

 

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, has said telecom infrastructure is very critical to successful 2023 elections, therefore, every Nigerian in every community should join hands in protecting it for the benefit of the country.

Danbatta, who was special guest at the 6th Edition of the Annual Conference of Guild of Corporate Online Publishers (GOCOP) in Lagos at the weekend, with focus on the forthcoming election and the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu in attendance, said with the planned transmission of election data and results riding on telecom infrastructure, there was need to ensure the fidelity of the transmission systems to enhance the credibility of such data.

“If telecom infrastructure is vandalised or damaged, it would create problem in the area of the data transmission during election; citizens will find it difficult to use their phones to seamlessly communicate and the journalists too might find it difficult in being able to access their web platforms to disseminate necessary information which members of the public require to make informed decisions at every point in time,” he said.

Danbatta recalled that, over the years, the telecoms sector has continued to face destabilising situations arising from negative attitudes and actions of hostile communities; theft of diesel, batteries, and power generators from telecom base stations; digging up and cutting of fibre optic cables by construction workers; indiscriminate sealing/locking-up of Base Transceiver Station (BTS) sites by state governments, other governmental and community stakeholders; as well as other disruptive activities which must be decisively tackled.

While reiterating the importance of telecommunications in all aspects of human lives, including the forthcoming election and other national activities and programmes, Danbatta said that without telecom infrastructure, it will be difficult to communicate with family and friends over long distances or conducting banking, insurance, or accessing government and other social services, including education, entertainment, and other essentials services that enhance quality of life.

“This means that telecom infrastructure is important, and we must all ensure that we guard and protect those critical national infrastructural assets now, during the upcoming elections and thereafter. So, every citizen in Nigeria must take responsibility for the protection of telecom facilities for the benefits to all,” Danbatta said.

He enjoined GOCOP members to use their credible media platforms and enviable experiences to collaborate with the NCC in creating greater awareness and public enlightenment on the need to protect telecoms infrastructure.

At the event, which was chaired by the Founder, Centre for Alternative Policy Perspectives and Strategy (CAPPS), Dr. Umar Ardo; with other personalities including former Inspector General of Police, Solomon Arase; Regional Director Ford Foundation, Dr. Chidi Aniagolu-Okoye; and distinguished members of GOCOP, most of who are senior media professionals, Danbatta commended GOCOP members for their contributions in the promotion of awareness of derivable benefits of Information and Communication Technology (ICT) through their online platforms.

“The NCC would like to commend the leadership and entire members of GOCOP for the good work you are doing in your professional practice of disseminating timely and accurate information to Nigerians to enable citizens to take inform decisions,” he said.

Coronation Insurance 64th AGM Set for November 2

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Mr. Olamide Olajolo

Managing Director/CEO

Coronation Insurance Plc

Coronation Insurance Plc will hold its 64th Annual General Meeting (AGM) on Wednesday, November 2, 2022 in Lagos to receive the Audited Financial Statement for the year ended December 31, 2021, Reports of the Directors, Auditors and Audit Committee etc.

The AGM Notice by Mary Agha, the Company Secretary of Coronation Insurance Plc informed

shareholders that attendance at the AGM would be by proxy in view of the COVID-19 pandemic and advised them to pick a proxy from a list of selected proxies below:

  • Mutiu Sunmonu
  • Titilayo Osuntoki
  • Olamide Olajolo
  • Sunny Nwosu
  • Boniface Okezie
  • Eric Akinduro
  • Bisi Bakare

Stanbic IBTC Supports Digital Trade Payment Solution with First Outbound PAPSS Transaction

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Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings PLC, completed the first outbound and inbound transaction on the Pan-African Payment and Settlement System (PAPSS) platform in Nigeria.

PAPSS, the centralised Financial Market Infrastructure (FMI) that supports payment arrangements with the objective of expanding pan-African trade and driving African Central Bank’s economic and financial integration agenda, was deployed for use in the West African Monetary Zone (WAMZ) in the following countries: Nigeria, the Gambia, Sierra Leone, Liberia, Ghana and Guinea.

The first outbound transaction was completed on Friday, 30 September 2022 from Stanbic IBTC Bank to Ghana Commercial Bank (GCB), while the return inbound transaction was completed on Thursday, 06 October 2022.

Stanbic IBTC Bank’s Chief Executive Wole Adeniyi described the transaction as the organisation’s way of supporting intra-African trade while also supporting low-cost and risk-controlled payment, settlement, and clearing systems.

“This is a great opportunity for new and existing clients to take advantage of. The Pan-African Payment and Settlement System will enable interested individuals and businesses make cross border payments, thereby reducing, dependencies on foreign exchange and correspondent banks. Consequently, this will reduce requisite correspondent banking fees and mitigate central delays,” he added.

Jesuseun Fatoyinbo, Head, Transactional Products and Services, Stanbic IBTC Bank, also commenting on the rationale behind PAPSS stated that the Bank is focused on driving business growth for businesses and corporates.

“At Stanbic IBTC, we are dedicated to moving the African economy to the next level, because Africa is our home, and we drive her growth. We understand that the operating environment is fluid, but with our expertise and array of services, we have created innovative solutions such as equity capital raises, payment solutions and a wide range of working capital and trade solutions to improve businesses.”

“These capabilities enable us deliver world-class and cost-effective transactional banking solutions customised to meet our clients’ needs. With PAPSS, we want to ensure that we provide an innovative solution that supports our clients’ business growth while responding to changing business realities,” he added.

Mike Ogbalu III, Chief Executive Officer, Pan-African Payment and Settlement System (PAPSS), commended Stanbic IBTC for being among one of the first banks in Nigeria to do commercial transaction with PAPSS.

“I would like to congratulate the Management of Stanbic IBTC for achieving this significant milestone while recognising the ongoing efforts of their team in making the system operational for the benefit of their customers”.

“By using PAPSS, Stanbic IBTC customers will now be able to do fast and cost-effective cross-border payments across countries of the WAMZ region, and in the close future across the African continent. This is in line with our objective to boost intra-African trade with the implementation of the African Continental Free Trade Area (AfCFTA)”.

Stanbic IBTC Bank remains committed to upholding its high standard of service delivery and transparency while also providing bespoke services to its clients.

CSW2022: African Alliance Fulfils N6.65bn Claims to Customers in Q3

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African Alliance Insurance Plc has demonstrated her commitment to customer satisfaction with the payment of N6.65 billion in claims as at the end of the third quarter of the year. This is coming on the heels of this year’s Customer Service Week with the theme ‘Celebrate Service’.

Restating the firm’s relentless devotion to customer satisfaction, the MD/CEO, Joyce Ojemudia, assured of the leading insurer’s commitment to prioritizing her esteemed policyholders.

“At African Alliance Insurance PLC, paying genuine claims is a trust we do not intend to break. For 62 years, we have done this without fail and this is exactly why we remain as one of Nigeria’s foremost Life insurers,” she said. “We are not inured from current economic realities. We understand how critical the times are hence our boundless resolve and commitment to fulfilling our mantra of being with them for life. On the occasion of the just concluded Customer Service Week, we would like to reassure our customers that indeed we care and look out for them at all times.”

Furthermore, Ojemudia emphasized the company’s ongoing claims payment process which is backed by year-on-year evidence of fulfilled claims. “We will continue to make sure that our strategies are updated to meet up with the demands of paying claims as due.”

According to the year-to-date break down released to the media, the Life insurer revealed it has paid a whooping N3.13bn to its Annuitants; N1.43bn in Group Life claims; N1.17bn Individual Life; N544m Takaful as well as N298m Esusu pay-outs.

Incorporated in 1960, African Alliance Insurance PLC is widely regarded as the strongest and most experienced life insurance specialist in these climes with its HQ in Lagos and 18 branches nationwide.

CJN Ariwoola: Searching for Nigeria’s John Marshall 

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By Olawale Rasheed

History is replete with judges who shaped their days and nations, judicial officials who imprinted their footprints in front pages of national archives.

In uncertain times, the nation needs an activist reformer, a man ready to crusade for a transformative judiciary, issuing federalist corrective landmark rulings, focussing on unanimity in apex court decisions and deploying the bench as a weapon of national restructuring.

Is Justice Olukayode Emmanuel Ariwoola that man to remake the judiciary for this sacred national tasks?

Bernard Schwartzt in his “Supreme Court Superstars: The Ten”, listed John Marshall, Joseph Story, Roger Brooke Taney, Stephen J. Field, Oliver Wendell Holmes, Louis D. Brandeis, Charles Evans Hughes, Hugo Lafayette Black, Earl Warren and William J. Brennan, Jr as top judges in American history.

Justice Marshall was my favourite as a student journalist especially as he was responsible for constructing and defending both the foundation of judicial power and the principles of American federalism. I read through many of his judgements. His erudition on the bench serviced federalist reform, united the apex court and consolidated the powers of the Supreme Court as a respected equal arm of Federal Government.

In times of uncertainty about American governance modelling, an activist Judge helped a struggling nation out. As Encyclopaedia Britannica put it, ” His (Marshall) own mind had apparently a clear and well-organised concept of the effective government that he believed was needed and was provided by the Constitution.

He wrote with a lucidity, a persuasiveness, and a vigour that gave to his judicial opinions a quality of reasoned inevitability that more than offset an occasional lack in precision of analysis. His tenure gave opportunity for the development of a unified body of constitutional doctrine”. I am of the view that Abuja has among the 13 Supreme Court Justices great minds with such capacities as Marshal.

Strangely, Nigeria is in need of a Justice Marshall who will re-assert the potency of the top court to checkmate the cabal of influence peddling legal practitioners, who will serve as agent of devolution of powers and who will re-instil the culture of incorruptibility within the judicial process.

While Justice Marshal strengthened Federal Government, our own Marshall must empower the states for national survival. His task must entail that of sacrificial patriot who eyes the greatness of great juries in history, whose names remain indelible in national history.

Or let turn to the United Kingdom. Beyond UK judge, William Blackstone who was reputed to have influenced prominent American personalities like Abraham Lincoln, James Kent, Alexander Hamilton, and even John Marshall among others, Lord Denning stands out as the greatest British judge according to former Prime Minister Margret Thatcher.

His judicial activism and extensive judicial pronouncement across all sub-sector of the legal field are breath taking. Even when controversial, Lord Denning remains a guiding light in judicial administration. Again, the Nigerian apex must produce her own Lord Denning in contemporary setting. Nigeria has had many great judges of immense accomplishments.

Late Justice Fatai Williams, the suave scholar judge, was my favourite as a politics writer, going by his expansive contribution to jurisprudence. In Nigeria of today, we need an integrated reincarnation of a Lord Marshal, Lord Denning and Justice Williams to salvage the judiciary and weaponised it as a platform for national political, economic and social reform.

At a time all the leading presidential candidates are pro-restructuring, an activist CJN is imperative to navigate the hurdles of reforms, to speed up slimming down of the over-bloated centre, entrench a culture of fair and just justice administration and to fight corruption in leaps and bound.

As the sitting president aspires to deliver, judicial stumbling blocks won’t be on his way as no agent of status quo would get a cover from the bench. If the fear is about self-preservation and post-service survival, a pro-reform president may actually consider extending tenure of a Supreme Court collective which commit to a new Nigeria. Apex court justices can then be guaranteed of adequate funding for judicial reform especially the modernisation and digitisation of the court processes.

My intention is pontification. I watched the confirmation hearing of the new CJN. His answers to questions from distinguished senators were quite refreshing. With his immaculate style, he advanced a new vision of Nigerian judiciary where administration of justice will be seamless, fast and just. His take on digitisation of court procedures was a 21st century postulations, positioning the apex court as a potential beneficiary of donor funded justice sector reform.

Fluent and passionate, his immediate creation of an inclusive leadership through a committee system signals likelihood of unanimity judgement going forward within the court. His idea of a collaborative agenda among the three arms of government indicates interest to contribute to the question of federalist reform.

Based on the confirmation hearing and recent development at the apex court, Nigeria appears to have a reformer on the revered seat of Chief Justice of the Federation. While the extent of his reformist mind can’t be fully determined now, his inclination towards a robust internal reform, especially of court procedures is reassuring.

The Kenyan Supreme Court used only a week to hear and deliver judgement in the Presidential election disputes. The new CJN looks strongly like a thinker along a faster pace of court hearings even though he hinged his plan on judicial technological innovations and applications.

If Justice Ariwoola is not aspiring to be a ‘table shaker”, historical necessity may force him to have a rethink. If he is not a Justice Marshal known for his federalist advocacy, imperative of the time imposes a responsibility to safe the troubled federation from falling apart.

As things stand, history beckons on him and his colleagues that time is now for a bailout to Nigeria from the judiciary. The moment is now to remake the recent dark past where some lord justices are dragged and humiliated for being part of the national rot.

Nigeria needs landmark rulings to set the tone for national restructuring. Unanimous judgements in service of federalist reform are much needed impetus a President needs to foster life-saving changes. In this delicate time, lord justices must wear the activist robes in a conservative institution, to write their names in gold and to provide urgently needed national direction in this era of political emergency. Our justices must put an end to majority and minority judgements as much as such judgements are tailored towards serving national interest especially restructuring of the lopsided federation.

Several nations experience national emergencies; such turmoil throw up new leaders; heroes are made and history are written. What is to be feared? What should one be scared of?

The call to national duty is a sacred task; embracing it is a consecrated imperative. After all, at the apex of one’s career, what is compelling is the urge to leave an enduring legacy.

Oyo Yoruba CJN is on the threshold of history. His agenda from the confirmation hearing confirms a leader ready to innovate for a new bar and bench. What legacy will he bequeath on the Supreme Court, the Judiciary and the nation at large?

 

  • Olawale Rasheed, CEO, Sahel Consulting and a public affairs analyst, writes from Abuja. He can be reached on [email protected]

Why Celestine Omehia Deserves No Pity

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By Haniel Ukpaukure

Did he not see it coming? I’d be surprised if Celestine Omehia, “former governor” of Rivers State, failed to see his near annihilation by Governor Nyesom Wike, in which case what happened last week took him unawares.

If, indeed, he did not foresee the calamity before it befell him, then he must be a very poor student of the cloak and dagger brand of politics that is practiced in this part of the world.

How could Omehia, a lawyer, not know that by biting the finger that fed him, the person with the finger would not only pull it out of his mouth, but might do it in such a manner as to prevent food of any kind from entering that mouth, at least not any time soon?

I do not know what is more disturbing to the man who must have watched in disbelief and distress on national television as his photograph was brought down from the wall, from among those of former governors of his state by the same man who hung it there – losing a lifelong source of income or having to refund, within seven days, what he has illegally collected in the last seven years.

What makes the case of the “governor” whose tenure cannot be found in any record in Rivers State, perhaps from a purely human point of view, enough to evoke some pity, is that he cannot challenge the action of the state house of assembly in a law court. That would amount to personally reporting the illegality he and his erstwhile benefactor had perpetrated in the state to the legal authorities. I have no idea what his prayer would be.

Wike, a lawyer who is quite conversant with the law, had ignored the ruling of the Supreme Court – the highest court in the land – which had declared that Omehia was never the governor of the state and that, for five months, he had been a usurper illegally holding the office that was rightly meant for Rotimi Amaechi.

But for either of two reasons – putting food in the mouth of the impostor or spiting his predecessor (as some people said) who had by then become his foe – Wike railroaded the state house of assembly into passing an illegal resolution recognising him as a former governor who was entitled to all the benefits that are given to his “colleagues.”

In a country where laws are kept in the breach by those who should enforce them, Omehia quietly enjoyed benefits he knew he did not deserve – at tax payers’ expense. Now, the chickens have home to roost, and for the “former governor”, that is the way the cookie crumbles. He must be praying this is a nightmare from which he would wake up.

Omehia began to dig his own grave the day he aligned with the People’s Democratic Party presidential candidate, Atiku Abubakar, in the current fight for the soul of the party involving the former vice president and Iyorchia Ayu, the party chairman on one side, and the Rivers State governor, on the other. Sources say he not only identified with Atiku, but openly took on Wike, saying things to the effect that he is not the first governor of the state, and would not be the last, and can therefore not lead other stakeholders of the party in the state by the nose. It is strange he failed to estimate the extent to which a wounded lion could go to attack anything in sight.

I learnt on good authority that while other party leaders in the state who had shown signs of distancing themselves from Wike, but who quickly realised the risk their businesses faced (especially after some began to lose their sources of income in what seemed like a rage which manifested in destruction of businesses, including petrol stations) and scurried to London to mend fences with the man who is next to God with the power of life death, Omehia refused to toe that line.

It is difficult to hazard a guess as to whether he cared more about a potential ministerial position in an Atiku administration, forgetting that a bed at hand was more than 10 in the bush, in that circumstance. A position in Atiku’s administration is a dream that may not come to pass. Wike was already providing him food that was to last a lifetime (except another administration came to stop the illegality), albeit unlawfully.

From what I hear, his woes may not be over, just yet. There are speculations that the chairman of his Ikwere Local Government Council, a Wike boy, may move against him by sealing his private school on the allegation that setting up of the school did not follow the proper procedure.

What has emerged from the fate that has befallen Omehia is but a glimpse into how Nigeria is being run. It shows how the resources of this country are being plundered by those in power, and their cronies. This is a matter that should interest the Economic and Financial Crimes Commission.

It shouldn’t be only about Omehia who, for seven years, collected monies illegally, but the house of assembly members who passed the infamous resolution in 2015, as well as the governor who signed an illegal law to put in place that malpractice.

Wike will lose his immunity in the afternoon of May 29, 2023. He and the lawbreakers who encouraged the plundering of the resources of Rivers State for seven years should be made to account for their misdeeds.

Ukpaukure, a media/publicity consultant and writer, lives in Lagos.

[email protected].

IMT 2022: Insurance, Tech Experts Advocate Partnerships to Deepen Insurance Penetration through Insurtech

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L-R: Client Technology Lead, Microsoft Nigeria, Wole Odeleye; Managing Director, Interswitch Systegra, Jonah Adams; Group Chief Executive Officer, Old Mutual West Africa, Samuel Ogbu; CEO, Modion Communications/Convener, Insurance Meets Tech, Odion Aleobua; Tosin Faniro-Dada, Managing Director & CEO, Endeavor Nigeria; Head of Sales, Leadway Assurance, Sola Ajayi and Chief Executive Officer, PaddyCover, Mayowa Owolabi, at the first edition of the Insurance Meets Tech (IMT 2022), an era-defining discourse for leaders in the insurance and tech sector.

Stakeholders in the insurance and technology sectors have called for partnerships, collaborations, and technology adoption as expedited strategies for Nigeria’s insurance penetration at the Insurance Meets Tech (IMT) inaugural edition conference.

This landmark multi-industry discourse, convened by Modion Communications on Thursday, September 29, 2022, was headlined by over twenty industry-leading thought-leaders from the Insurance, finance, and technology sectors from across Africa, such as Microsoft Nigeria, Ecobank Nigeria, Old Mutual Group, Leadway Assurance Company Limited, AXA Mansard, Curacel, ActivEdge Technologies, MediSmarts among others. The conference also had in attendance over 300 C-Suite executives as delegates representing multiple companies.

Speaking on the role of big data and cloud computing in bolstering the operations of the Nigerian insurance sector, Ola Williams, Country Manager, Microsoft Nigeria, explained that leveraging technology increases the brand value of insurance organisations and allows insurers to free up their capital outlay to accommodate potential customers.

“Data is a source of wealth and power, and it has become a key disruptive factor that organisations leverage for competitive advantage. Cloud computing is also key to organisations’ insight acquisition for detailed reporting of different aspects of their operational efficiencies. Since insurance is the transfer of risk from one entity to another, as an insurer, data gives insight into the behaviours and preferences of individuals and as such, supports the provision of differentiated offerings to customers. Indeed, the limit to how we can use data is in our imagination”, she said.

Also speaking at the event, Olusegun Omosehin, Incoming Chairman, Nigerian Insurers Association (NIA), cited the irrefutable importance of collaborations and partnerships between the insurance and technology industries in operationalising a digital-led customer acquisition journey, thereby deepening insurance penetration in Nigeria.

“To swiftly embark on this digital expedition, we must be willing to rethink our existing processes, especially the customer acquisition journey. We must also remember that this is not necessarily a race for intra-sector prominence but an opportunity to up the ante collectively for global dominance and deepening access to insurance”, he stated in his opening address.

Speaking on the functionality of technology for driving change in the Nigerian insurance ecosystem, the Group Chief Executive Officer, Old Mutual West Africa, Samuel Ogbu, said: “Insurance exists to solve problems and create value, and this can be achieved through collaboration and partnerships. However, the problems with insurance value creation in Nigeria have evolved, and solutions provided by insurers in this regard must align with the fundamental evolution and revolution of strategies. Innovation technology has a key part to play in the evolution of insurance value creation, and the knowledge of revolutionary insurance strategies relies heavily on data analytics which is a key provision of technology”.

Sola Ajayi, Executive Head of Sales, Leadway Assurance Company Limited, also explained that the insurance industry is enthusiastic about technological innovation. He also noted that though the sector had progressively slowed in the last two years, it would experience lots of unbundling of insurance products using technology.

At the conference, the Managing Director/CEO PaddyCover, Mayowa Owolabi, highlighted the importance of regulatory enablement in achieving technological adoptions and collaborations in the insurance industry. He said, ‘The insurance industry requires sensible, timebound, future-centric regulation that creates an environment to thrive”.

In a keynote address, Kola Adeleke, Executive Director, Corporate Banking, who represented Jubril Mobolaji Lawal, the Managing Director, Ecobank Nigeria, said that “the insurance sector can take a cue from the Nigerian Banking System which has gone from its analogue age to a massive digitisation phase. Ecobank, for instance, invested greatly in tech to run a multi-geography, multi-lingual, one-bank platform across our 33 affiliates which currently serves over 1.9 million people in Nigeria”.

Similarly, the Managing Director, Interswitch Systegra, Jonah Adams, said, “organisations must strategise on efficient measures by leveraging new technologies to provide financial and insurance services to the 100 million unbanked Nigerians. One great way of doing that is by providing these services in nano sizes for the retail-driven and unbanked Nigerian population. The insurance market is ready for collaborations and scaling”.

The Chief Executive Officer / Co-founder, Curacel, Henry Mascot, said during the plenary that Insurance is a complex financial service to sell, and its digitisation is a surefire way to simplify its consumption and accessibility by consumers. A groundswell regulatory approach must also be employed to ensure that people are legally bound to get insured. As we have seen in the legal requirement of motor insurance, health insurance, and building insurance, amongst others, must also be constitutionally protected for widespread adoption amongst Nigerians”.

Chief Executive Officer, ActivEdge Technologies, George Agu, advocates that the much-touted innovation be done in consonance with the regulatory environment. “We must pay close attention to what regulation permits and innovate accordingly to create value for consumers. The banking sector has been immensely bolstered by technology. Insurance organisations have not come to appreciate or prioritise the value of technology in the insurance space, and this situation must be addressed”, he said. 

Chief Digital Officer, AXA Mansard, Bayo Adesanya, opined that the sector takes advantage of the impressive mobile phone revolution in the country for rapid growth. “Telephony and mobile technology are tools we have employed for a wide reach of insurance awareness, education, and accessibility. This is key to tackling the abysmal rate of insurance penetration in Nigeria”.

The Chief Executive Officer, MediSmarts Limited, Obinna Osuji, agrees. “Social and religious constraints contribute largely to the low rate of health insurance penetration, and we attempted to tackle that with digitisation. The growth of mobile telephony and internet accessibility has also been largely important.”

Odion Aleobua, the Chief Executive Officer, Modion Communications and Convener, Insurance Meets Tech 2022, cited the huge potential of the Nigerian industry and the capabilities of technology in catalysing its adoption and penetration rate.

He also highlighted the timeliness of the IMT 2022 conference as a continental kick-off of collaborative insurance and tech discourses.

Sponsored by foremost insurance and tech majors – Curacel, ActivEdge Technologies, Leadway Assurance Company Limited and Old Mutual and MediSmarts, this ground-breaking conference converged numerous industry leaders for a prolific discourse on the immense potential of collaboratively exploring Insurtech for continental dominance whilst changing the narrative of insurance apathy in Africa.

 

 

Insurance Sector: N2.3tr Market Size, N369bn Income, N175bn Claims in Qtr 2, 2022

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Mr. O. S. Thomas

Commissioner for Insurance/CEO

National Insurance Commission (NAICOM)

The National Insurance Commission (NAICOM) has released the performance indices of the Nigerian insurance industry in the second quarter of 2022.

The insight states that in terms of market size, the sector recorded an increased rate of growth at about 12 percent (11.9%) quarter-on-quarter with a total asset of about N2.3 trillion, divided into N1.2 trillion in assets of Non-Life Business while the Life Business stood at about N1.1trillion.

The market also recorded about N369.2 billion during the period in term of Gross Premium Income (GPI), indicating a 20.1 per cent growth rate compared to the same period of the previous year and an impressive 65.0 percent, quarter-on-quarter. The continued steady growth from the first quarter of the year correlates with the current performance of the period under review.

The market data from NAICOM states that the industry grew by 20.1 percent higher than the national real Gross Domestic Product (GDP) of 3.5 percent during the same period under review, which indicates the industry’s impressive performance given the recent trajectory.

According to the data, the Non-Life segment maintained its primacy at 59.3 percent of the total premium generated. Insights in the segment shows that Oil & Gas was the leading driver at 32.5 percent with a distant second at 20.7 percent for Fire.

Motor Insurance stood at 14.8 percent while Marine & Aviation, Gen. Accident and Miscellaneous reported a share of 12.3 percent, 10.9 percent and 8.9 percent in this order respectively. Life Business on the other hand recorded 40.6 percent of the insurance market production as its share contribution, gradually closes up.

The share of Annuity in the Life Insurance business logged at about 25 percent (24.7%) while Individual Life held a major driver position at 41.8 percent of the premium generated during the period.

In terms of Insurance Claims paid by underwriters, the growth of the gross claims reported was (0.2%) during the quarter compared to the corresponding period of 2021.

The industry Statistics for gross claims in Q2 of 2022 stood at N174.8 billion, representing 47.3 percent per cent of all premiums generated during the period. This occasion reflects the professional underwriting capacity of the industry as driven by the intensified regulatory activities of the Commission.

The net claims paid on the other hand stood at about N148.2 billion, signifying an 84.8 percent of all gross claims reported during the period. The Life Insurance business recorded a near perfect point of about 90 (88.90%) percent claims settlement as against the reported claims while non-life segment stood at about 77 (76.8%) per cent.

The Insurance market indeed remained profitable during the period according to the Report, recording an overall industry average of about 57 percent (56.9%), maintaining a relative position (57.7%) recorded in the corresponding period of preceding year.

The Non-Life segment loss ratio stood at 43.6 percent while the Life Business stood at about 69 (68.5%) percent depicting a less profitable scenario comparatively, over the same period. The net loss ratios for Non-Life bears an improved market image in the current period as compared to the preceding period when it was 48.2 percent.

Drivers of the loss experience are made up of about (12) underwriters with a record of loss ratios above 100 percent.

 

 

 

 

Annuity Customers Pass Vote of Confidence on AIICO Insurance

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AIICO Insurance’s customers holding the company’s Annuity policy have expressed delight over excellent and satisfactory services rendered, passing a vote of confidence on the company during the 2022 Customer Service Week.

This year’s event themed ‘Celebrate Service’ had some key activities which include visits to customers (older citizens) to appreciate them and presenting them with gifts. Walk-in customers too participated in the various activities and got some take away gifts.

In his newsletter to customers, the MD/CEO, Mr. Babatunde Fajemirokun, stated: “This occasion gives us the opportunity to amplify our gratitude to you for your valued relationship with us. You are the sole reason we are in business and getting better at what we do. Journeying through life with you gives us the most pleasure.”

“The theme for this year is ‘Celebrate Service’. At AIICO, Customer Service is not just a department; it is a function that has all employees as stakeholders. Our fundamental purpose is to serve you and we are obsessed with meeting and exceeding your expectations. We look forward to many more years of serving you wholeheartedly.” said Mr. Fajemirokun.

In a recent interview, some of AIICO’s annuity customers shared their experiences.

Mr Joseph Igebulem, an annuitant, gave the company a 99 percent pass mark noting that the underwriting powerhouse has met and surpassed his expectations.

He said; “I am Mr Joseph Igebulem holding an annuity policy with AIICO and it has been seamlessly okay. For the past eight years, no flaws. I have even introduced them to my friends here in Lagos and Calabar.  So, if I should award in terms percentages, AIICO has met 99 percent of my expectations in the sense that I get information from them when I need it. And again, my payment is delivered when due. I am advising everyone and telling those on the verge of retirement now to go for AIICO because I trust it is a very good company for retirement.”

In a similar manner Mrs. Udu Veronica Ugwumba, who retired from PHCN said she bought AIICO Annuity policy since 2015 as she eulogised AIICO’s exceptional service delivery, adding that she has no hesitation recommending the company to everyone who may need its services.

“My name is Mrs Udu Veronica Ugwumba. I worked with National Electric Power Authority, now PHCN Plc. I went into AIICO annuity on the 30th November 2015. It has been a smooth ride with AIICO since I went into the policy, I have never regretted it. AIICO is indeed a good insurance company. In fact, I was attracted by the name, American International Insurance Company (AIICO) because I knew it would last.”

“There is confidence in AIICO, it is reliable. I have been recommending AIICO to people, I recommended them to my daughter, I recommended AIICO to a co-worker when we were retired and so many other people. And even when I lost my mother in 2016, I had little or nothing for my own contribution, I had to run to AIICO and they helped, giving me upfront payment. Even after burying my mother, I applied for quarterly payment of my annuity, AIICO did it for me. After that I applied again for monthly payment; they started again to pay me monthly. So AIICO is a reliable insurance company.” Ugwumba said.

Mrs. Okikiade, Clara Kunbi said: “I retired 2020, December, precisely and I joined AIICO Insurance in 2022. Ever since that time they have been paying my annuity regularly. By 13th I receive alert. But the one that surprised me most was before our last festival they paid me ahead of time. So, AIICO is doing a very good job. Also, they ensure that they meet their obligations to us as and when due. Keep doing the good job AIICO. Actually, I have introduced some people to AIICO because of my experience with them.” 

Mr. Philip Nnamdi Izundu noted: “I worked with Union Bank of Nigeria, retired and I started the policy the AIICO Annuity policy in 2013. The experience has been very good in terms of punctuality. They never failed and I can say that they are sensitive enough. They have always paid ahead of time especially during festivals. Of course, AIICO has met my expectation. And without reservation I recommend AIICO to those that want to do annuity,” said Mr Izundu.

The Management of AIICO has assured its customers, both existing and prospective, of its unwavering commitment to continue to deliver on its mission – creating the most compelling experience, offering best fit products and driving wholesome peace of mind.