Connect with us

Economy

NCRIB urges FG to overhaul security apparatus

Published

on


Nigerian Council of Registered Insurance Brokers (NCRIB) has urged the Federal Government to overhaul its security apparatus and enhance collaboration with institutions within and outside the country to put an end to insecurity.


This is contained in a statement made available to newsmen on Wednesday in Lagos.

NCRIB President, Dr Bola Onigbogi, during the February Council Members Evening, said as a critical player in the national economy, the onus was on the council to express its discomfort about the spate of insecurity in the country.

She said in spite of government’s efforts to improve the ease of doing business and reflate the nation’s economy, the menace had continued to increase.

“There is hardly a day that passes by without reported cases of kidnapping, terrorism and other criminal cases that is fast making our country dreadful to live in.

“This has reached a preposterous dimension and is adversely affecting the pace of economic growth, as genuine foreign investors are scared of putting their monies into the economy,” she said.

According to her, since there is a correlation between insurance and economic growth, it is most auspicious for the NCRIB to join its voice to the call on government to combat security challenges in the country more.

The council’s president said that the National Orientation Agency (NOA) should be revived  and repositioned to make Nigerians realise  the need  to be their brothers’ keepers.

She said Nigerians should be sensitised on  breaking down belief systems, religious or cultural, militating against peaceful coexistence and sanctity of human lives.

Onigbogi said: “We implore government to join the league of developed countries of the world who have resorted to using Information Communication Technology (ICT) to combat crime.

“It is not out of place for the federal, states and local government areas  to deploy the use of CCTV in all towns and cities in the country.

“This device will assist law enforcement agencies to keep better tab on criminal activities throughout the country.”

Edited By: Chioma Ugboma/Oluwole Sogunle



Watch Live News



Make A Comment

Load more

Olawale Olukoga: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Economy

COVID-19 : Prudential Zenith Life Insurance unveils benefits for affected customers

Published

on


Prudential Zenith Life Insurance on Sunday announced benefits designed to address the negative impacts of the coronavirus pandemic, which had claimed thousands of lives globally.


In statement in Lagos, the company said that the benefits would  apply for a period of 45 days beginning from  April 3.

The company said  that customers who had purchased or who would purchase any of its products such as My Family Protection Plan, My Family Protection Plan Premier, My School Fees Protection Plan, PZL Term Assurance, PZL Hospital Plan and My Savings Plan-Premier, would enjoy diagnosis benefit.

It said that under the benefit,  a customer  diagnosed with COVID-19 would be entitled to N38,000 and a treatment benefit of N9 000 daily for a maximum period of 25 days to cater for losses or incidental expenses.

The company said it had reduced the normal waiting period from six months to 14 days for the benefits to apply to any new customer, while for existing customers, the additional benefits would  apply  immediately.

“Also, for any customer who has bought a policy from the company and who is diagnosed with COVID-19 or who is formally retrenched as a result of a business having to close due to the COVID-19 pandemic, it will provide a three-month premium holiday.

“This means that the policy will not lapse and the customer will still enjoy the protection benefits of his policy even if he is unable to pay his regular premium during this period.

“This is in addition to any death benefits that are payable when due, as the company does not exclude death caused by COVID-19 under any of its policies,” it said

According to the insurance company, the policy exclusions to the additional offering include that it is not liable to pay claims if treatment is for any reason other than the contraction of the COVID-19.

The company said it would  not also pay claims if  after the start of the policy, the covered person would travel to any country with active community transmission of COVID-19.

It said the policy would not also take effect if the covered person was in self-isolation or hospitalised but had not been officially diagnosed and hospitalised by the state.

The insurance company, however, said that the benefits would be provided for all clients who qualified  with active policies.

Edited By: Chioma Ugboma/Ijeoma Popoola
(NAN)



Watch Live News



Make A Comment

Load more
Continue Reading

Economy

COVID -19 : Leadway Assurance donates PPE, test kits, foodstuff

Published

on


Leadway Assurance Company Limited on Sunday announced a donation of Personal Protection Equipment (PPE), Covid-19 test kits and foodstuff to the tune of N135 million, in support of the battle against the pandemic.


The company revealed this in a  statement made available to the Nigeria News Agency in Lagos.

It said that the donation was part of its efforts to support optimal testing and treatment of Covid-19 cases as well as access to improved nutrition in the country during the quarantine period.

The underwriting firm, according to the statement, has also partnered other insurance companies to provide life insurance cover to healthcare workers.

The insurance cover is to the tune of N5 billion for frontline healthcare workers battling to save the lives of those infected by the virus.

Mr Tunde Hassan-Odukale, Managing Director of the firm, saluted the health workers taking care of Nigerians in the wake of the pandemic ravaging globe.

“We salute their tenacity, resilience and professionalism as they battle COVID-19, putting their lives on the line to ensure that Nigerians are adequately cared for during this period.

” We understand the weight of their duties and hope that this support reassures them and indeed all Nigerians, that we are in this together,” he said.

According to the Managing Director, Leadway Assurance has been in the forefront of sharing critical information on the pandemic prior to the donation .

He said the company had partnered with the programme “Doctors on Air” on radio to bring the Lagos State Commissioner for Health, Prof. Akin Abayomi, in a special edition to discuss the coronavirus pandemic.

Hassan-Odukale said Leadway was also one of the first companies to initiate the WorkFromHome policy before the State’s pronouncement.

He said this was aimed at ensuring seamless remote service via its several alternative channels while disseminating COVID-19 prevention tips in major languages within its areas of operations.

Leadway Assurance, according to the statement, had earlier made a sizeable donation as part of funds being raised by the Nigeria Insurers Association (NIA) in the NIA COVID-19 Support Fund.

“The donations align with the company’s value of service and customer focus and would aid the Government in combating the spread of the pandemic in the country,” it said.

The company urged Nigerians to adhere strictly to the precautionary measures prescribed to successfully curb the spread of the outbreak in the country.

It called for adherence to measures prescribed by the World Health Organization, the Federal Government, the Nigerian Centre for Disease Control (NCDC) and the Lagos State Government.

The firm promised to continue to work with the government and health agencies to support ongoing efforts to contain the pandemic.

Edited By: Oluwole Sogunle
(NAN)



Watch Live News



Make A Comment

Load more
Continue Reading

Economy

Dangote Cement woos investors with N100bn bond issue

Published

on


Dangote Cement Plc, says it plans to raise up to N100 billion in fresh funds from the bond market, under its N300 billion Debt Issuance Programme.


The plan seeking to raise up to N100 billion was detailed in an investor presentation document prepared by the company themed: “Building Prosperity in Africa,” made available to newsmen on Sunday in Lagos.

According to the document, the funds from the debut offering in the bond markets are to be utilised  to refinance existing short-term debt previously applied toward cement expansion projects, working capital and general corporate purposes.

Also, the bond (medium term debt paper), Dangote Cement is issuing for the first time, signifies confidence in business growth and in the Nigerian economy long term growth.

“Dangote Cement Plc is a good offer for discerning institutional investors and high networth individuals as it is Nigeria’s largest company by market capitalisation on the Nigerian Stock Exchange.

“Certain factors across Africa signal positive long term trends for Dangote Cement.

“There is an increasing demand for cement as urbanisation continues across the continent, demanding more infrastructure, housing and commercial building.

“As democracy becomes entrenched in Africa, it brings increasing political stability, enabling rapid economic growth, growth in infrastructure such as roads, housing, schools, among others, built from cement.

“With steady population growth, younger and more mobile population drive the need for building, while the emerging middle-class, fuels increasing consumerisation

and access to credit,” it stated.

Edited By: Olagoke Olatoye
(NAN)



Watch Live News



Make A Comment

Load more
Continue Reading

Economy

COVID-19: LCCI donates food items, medical supplies to LASG

Published

on


The President, Lagos Chamber of Commerce and Industry (LCCI), Mrs Toki Mabogunje, on Sunday donated food items and medical supplies to the Lagos State Government.


Mabogunje said in a statement in Lagos that the donation was part of its support to the state to mitigate the challenges of containing Coronavirus pandemic.

She added that the donation was also to alleviate the economic hardship of the less-privileged in the society.

Nigeria News Agency reports that the donation included bags of rice, cartons of noodles and alcohol-based hand sanitizers.

The donations were received by the Deputy Chief of Staff, Mr. Gboyega Soyanwo and Commissioner for Transport, Dr. Frederic Oladeinde, on behalf of the Gov. Babajide Sanwo-Olu.

Mabogunje said that the donation was necessary in the face of global outbreak of COVID-19 and the challenges of social, economic and public health realities.

“It has become imperative for us at LCCI as a socially responsible organisation to support the efforts of the government in helping to cushion the effects of the pandemic on Lagos residents.

“We commend efforts of the Federal Government, Lagos State Ministry of Health, Nigeria Centre for Disease Control (NCDC) and Federal Ministry of Health for being frontliners in the war against the pandemic.

“The business community will continue to support government at all levels to subdue the ravaging pandemic,” she said.

Edited By: Chidinma Agu/Felix Ajide
(NAN)



Watch Live News



Make A Comment

Load more
Continue Reading

Economy

COVID-19: LCCI donates food, medical supplies to Lagos govt.

Published

on


The Lagos Chamber of Commerce and Industry (LCCI) has donated food and medical supplies to the Lagos State Government in support of its efforts at containing the spread of COVID-19.


Mrs Toki Mabogunje, President of LCCI, said in a statement on Sunday that the donation would help to mitigate the challenges of the pandemic and alleviate the economic hardship of the less-privilege in the state.

She said the supplies, inclusive of bags of rice, several cartons of noodles and alcohol-based hand sanitizers, were received on behalf of the Gov. Babajide Sanwoolu by his Deputy Chief of Staff, Mr Gboyega Soyanwo and Commissioner for Transport, Dr Frederic Oladeinde.

Mabogunje said the donation became imperative in view of the global outbreak of COVID-19 and the present challenging social, economic and public health realities.

“It has become imperative for us at LCCI as a socially responsible organisation to support the efforts of government in helping to cushion the effects of the pandemic on Lagos residents.

“We commend the combined efforts of the Federal, Lagos and other states, and their ministries and agencies, notably, Lagos State Ministry of Health, Nigeria Centre for Disease Control (NCDC) and the Federal Ministry of Health, for being front liners in the war against the pandemic.

“The business community will continue to support the government at all levels to subdue the ravaging pandemic,” she said.

Edited By: Wale Ojetimi
(NAN)



Watch Live News



Make A Comment

Load more
Continue Reading

Economy

Lockdown: Access Bank launches app to ensure seamless transactions

Published

on


Access Bank Plc has launched a new mobile banking application tagged “AccessMore” to ensure easy access to funds and seamless transactions by customers, amid COVID-19 lockdown.


Mr Herbert Wigwe, the bank’s Chief Executive Officer, said this in a statement in Lagos on Saturday.

Wigwe described AccessMore as an innovative mobile application that offers a ‘more than banking’ experience.

He said the app, built on cutting-edge technology, offers tailored and personalised services, ease of use and excellent customer experience.

“In a period like this, when we need to be more present and relevant in the lives of our customers than ever, we have risen to the challenge to ensure our customers have access to their funds.”

With the app, he said customers can carry out transactions while keeping safe at home.

“To deliver on our promise to continually give our customers ‘more’, we have worked with first class tech experts to build the AccessMore mobile app to suit our customers’ lifestyle and meet their financial needs.

“As we mark our first anniversary post-merger with erstwhile Diamond Bank, this new addition to our array of solutions is also in line with our promise to adopt the best of both institutions.

“The AccessMore mobile app does not only deliver the best combination of both mobile apps, it accommodates the unique needs of existing users, delivering the best mobile banking experience on a world class platform,’’ Wigwe said.

The statement also quotes Mr Victor Etuokwu, the bank’s Executive Director, Retail Banking, as saying that customers could download the new AccessMore mobile app from their Android play-store or IOS app store.

“This month marks the one-year anniversary of our expanded institution and we are using this opportunity to reward our loyal customers, who believed in us and stood by us throughout the integration period.

“From April to December 2020, we will be rewarding customers who complete 10 transactions, using either our USSD service *901# or any of our mobile apps (old Access Mobile, old Diamond mobile or the new AccessMore app) per month.

“So, the more a customer transacts in multiples of 10, the higher his/her chances of winning a new car in the quarterly draw,’’ Etuokwu was quoted as saying.

Access Bank, with about 40 million customers and more than 600 branches nationwide, offers a range of products and services tailored to suit needs and lifestyles of its customers across multiple segments.

Edited By: Abdulfatah Babatunde/Oluwole Sogunle
(NAN)



Watch Live News



Make A Comment

Load more
Continue Reading

Economy

CIBN holds virtual AGM, elects Olugbemi 21st President

Published

on


The Chartered Institute of Bankers of Nigeria (CIBN) has elected Prof. Bayo Olugbemi as the 21st President of the institute, alongside other officers whose tenure would run from 2020 to 2022.


The announcement of Olugbemi’s emergence, along with other elected officers, was one of the highlights of the institute’s virtual Annual General Meeting on Saturday, where it reviewed the 2019 financial and operational reports.

The Nigeria News Agency reports that the meeting which was coordinated and chaired by the Dr Uche Olowu, who Olugbemi will succeed as president, had members participating from across the world.

Speaking on the 2019 operations, Olowu informed members that the institute had made noteworthy improvement as a reference point in the country and across the globe.

He said that all the CIBN subsidiaries from the Centre for Financial Studies to the Press were maintaining winning ways and would continue to experience improved performance.

In the area of capacity building, he said the Institute had reviewed the syllabus of flagship Associate of Chartered Institute of Bankers (ACIB) qualification in conjunction with a top consulting firm (PwC).

According to him, this is in a bid to keep the ACIB qualification relevant and ensure that the contents meet with global standard.

He said that the electronic library which consisted electronic books, journals and other resources provided round-the-clock information and had been acquired by the CIBN Library for easy access to its users.

Olowu said that a former president of the Institute, Dr Olusegun Aina, had been re-elected as a Chairman of the Global Education Standard Board.

He also said the Institute had expanded its examination centres to Liberia, bringing the number of foreign examination outposts to five, with one in Katsina state, Nigeria.

In the area of collaboration, Olowu said that the Bankers’ Committee had approved Ethics Certification for staff of banks.

He said that 87,000 bank staff had registered on the e-learning platform, and a sizeable number had completed the certification programme.

NAN reports that members commended Olowu for his two-year leadership (2018-2020).

At the event, the National Treasurer of the institute, Prof. Deji Olanrewaju, gave the financial highlights of the Institute in 2019.

He listed some of the following key developments; 7.1% increase in Net Operating Surplus of the Institute from N539million (2018) to N577million (2019).

Similarly, there was 5.8% increase in total income from 1.47 billion (2018) to N1.55 billion (2019) and 6.9% increase in IGR from N1.16 billion (2018) to N1.24 billion (2019).

Also, Mr Mark Ariemuduigho of Baker Tilly International Nigeria, external auditors of the institute, gave reports for 2019 financials and stated that the financial position of the CIBN was in agreement with the book of accounts.

The Chairman of the CIBN Audit Committee, Mr Babatunde Oduwaye, affirmed that the accounting and reporting policies of the institute were in accordance with legal requirements and ethical practices.

Edited By: Edwin Nwachukwu/Oluwole Sogunle
(NAN)

 



Watch Live News



Make A Comment

Load more
Continue Reading

Economy

Covid-19:Abia commences production of masks, protective medical kits – Hart

Published

on


Abia Government said it has started production of certified quality standard protective medical kits and masks to carter for the needs of Nigerians and bridge the scarcity of imported ones.


Mr Sam Hart,  the Director-General, Abia State Marketing and Quality Management Agency, disclosed this in an interview with the Nigeria News Agency   in Aba on Saturday.

He said that Gov. Okezie Ikpeazu initiated the project to ensure Abia people were not exploited during this period but were protected from the ravaging COVID-19 infections.

“The governor does not want Abia people to be exploited and that was part of the reason he gave this challenge to Aba tailors to start producing these kits.

“Apart from meeting national demand, he is also interested in meeting local demand so that the people of Abia can have these masks and kits available.

“That is why he provided support for the tailors, held a meeting with them, and released initial funds for them to start production even before orders started coming.

“That is the foresight that moved us to where we are today that everybody is now coming to pick them up; we have more than enough and they are available everywhere”, Hart said.

The DG said that buyers could get the products at pharmacies, chemist shops, supermarkets and other places.

He said that his agency was handling the distribution of the products on wholesale basis by buying up available products from the producers to ensure they get money to continue production.

Hart said that the state sourced the raw materials used locally and abroad, stressing that the state has the capacity to meet any quantity demanded across Nigeria.

“On the specifications required, we have also gotten medical practitioners to look at what we do.

“They have looked at it, told us what to do which we also implemented and they have certified it.

“Orders are coming from Kaduna, Lagos and Enugu and other states a

nd for our production capacity, it depends on the orders we get.

“As we get more orders, we upscale production through involvement of more hands,” he said.

Edited By: Abiemwense Moru/Obike Ukoh
(NAN)



Watch Live News



Make A Comment

Load more
Continue Reading

Economy

Kwara communities groan over prolonged power outage

Published

on


Many communities in Kwara South Senatorial District have been thrown into prolonged power outage for five days running. The Nigeria News Agency reports that this followed a faulty 132kv transmitter line.


A NAN correspondent in Omu-Aran who monitored the development on Saturday, reports that the issue had generated tension in the area and also compounded the effects of the sit-at-home directive over COVID-19 pandemic.

Some of the affected communities such as Omu-Aran, Offa, Erin-Ile, Ijagbo, Ajase-Ipo, Oke-onigbin, Oro, Iloffa, Odo-Owa, Osi and some parts of Kogi, Osun and Ondo were known to enjoy relative regular power supply before the recent total outage.

Some of the residents, in their separate remarks, expressed disappointment over the sudden power outage, lamenting that such happened without prior notice from the electricity management.

Mr Peter Olubukola, an auto spare parts dealer, expressed disappointment over the breakdown in communication between electricity consumers and the Ibadan Electricity Distribution Company (IBEDC) over the power outage.

“First of all, the power outage coming at this time of COVID-19 pandemic is like adding salt to injury.

“The most annoying aspect is the confusion it has generated because of the lack of communication and understanding on what actually led to the outage.

“Some people were even insinuating sabotage on the part of the company until recently, we learnt through the social media that it was a technical fault.

“I think the company needs to evolve a better way of handling such situation positively in the future,” Olubukola said.

Mrs Ashiat Adebayo, a cold room operator in Offa, in her remarks, said the outage had affected her business negatively as she could not afford the cost of running on electricity generator over the prolonged power outage.

“My cold room business have been negatively affected by the prolonged power outage since it started on Tuesday.

“Even for the fact that we are allowed to operate to serve the people following the sit-at-home directive over the Coronavirus outbreak.

“We only hope and pray that the electricity company puts in their best to ensure that power is restored as soon as possible because people are tired of the situation,” she said.

Mr James Abiodun, a Community Leader in Osi, appealed to the people in the affected areas to cooperate with the electricity management in finding solution to the recent power outage.

“I’m appealing to our people, especially the youth, to please exercise restraint and allow the IBEDC management find solution to the power problem so that electricity can be restored as soon as possible.

“We should not because of this take law into our hands. We all know that we have a critical situation on our hands before the sudden power outage which we must not allow to escalate.

“Let’s be law abiding and patriotic citizens,” Abiodun added.

Mr Kola Alege, IBEDC Business Manager, Omu-Aran Business Hub, said the company was working assiduously to ensure the restoration of electricity in the affected communities.

Alege expressed the company’s gratitude to the affected consumers for their patience and understanding.

“Our men are working round the clock. It’s a kind of technical problem but hopefully very soon electricity will be restored,” he said.

A team of Transmission Company of Nigeria (TCN) and IBEDC is working earnestly to restore electricity back to the affected communities.

Edited By: Chioma Ugboma/Adeleye Ajayi
(NAN)



Watch Live News



Make A Comment

Load more
Continue Reading