General news

Union wants govt to enforce compulsory insurance to boost premium

Published

on

The Association of Senior Staff of Banks Insurance and Financial institutions (ASSBIFI) wants government’s intervention in the enforcement of compulsory insurance policies to help save the industry from bankruptcy.

This is following reports that insurance companies are groaning under the weight of a surging claims portfolio as more risks crystallize, in spite efforts to stem the tide.

ASSBIFI President, Oyinkansola Olasanoye, told the News Agency of Nigeria on Wednesday in Lagos that the implication of insurance claims rising faster than premium was unhealthy for the industry and the economy at large.

According to Olasanoye, the workers as well as the nation would suffer if the government does not enforce compulsory insurance policies for companies and individuals.

NAN reports that the industry’s total Gross Premium Written (GPW) grew by 12.4 per cent to N226.8 billion against N201.7 billion recorded in 2017.

However, the total claims expenses on the other hand went up by 16.5 percent to N98.9 billion from N84.9 billion recorded in 2017.

She said that government should enhance its supervision on insurance policies and ensure penalties were enforced.

The ASSBIFI president attributed the reasons for claims rising above premium to recession which caused people to undervalue their property.

She said that other factors included fraudulent claims and discounted premium in a bid to compete with others.

Olasanoye said that the implication of dwindling premium would lead to job losses, leaving the job of three workers to be performed by one person, thus adversely affect the health of such worker.

”Not many people insure property like organisations. Many areas are not captured. If this is allowed to continue, it will boomerang against the workers and the economy.

”There are laws that talk about compulsory insurance on public buildings, vehicles, environment, among others, but are not enforced,” the union leader said.

She said it was sad that corporate organisations took insurance policies more than individuals and this had affected insurance premium.

The ASSBIFI boss said insurance firms could be forced to move away from industrial high risk policies if they were not making profit because of frequent calamities.

She said that government policy has a role to play to ensure that individuals take policy so that insurance firms would not depend only on companies.

She said that many small and medium enterprises were collapsing because of lack of insurance policy and the few ones taking insurance were asking for unnecessary discount.

On recapitalisation, Olasanoye said that the government suspended it in 2018 following calls by stakeholders to extend the time.

She said that many insurance firms would use the time to consolidate their mergers and agreement to move the sector forward.

 

 

 

 

General news

32-man Borno delegation understudies Kaduna on participatory governance

Published

on

A 32-man delegation from Borno is in Kaduna State on a study of key government institutions in the area of good practices and participatory governance.

Leader of the team, Alhaji Musa Abubakar, said on Friday in Kaduna that the 2-day visit is supported by Mercy Corps Nigeria.

Abubakar said the aim was to apply the experiences of Kaduna state in tackling poverty and build secure, productive and just communities in Borno.

He explained that Mercy Corps is running a peace programme on conflict management and stabilization in 20 communities in Gwoza, Damboa, Dikwa, Maiduguri and Jere local government areas of Borno.

According to him, the programme has three components which includes social cohesion, social inclusion and governance.

“One of the lineups of activities under these components is a learning visit by government officials to see the innovations and restructuring happening in Kaduna public service,” he said.

Abubakar disclosed that at the end of the visit, the team would develop action plans for implementation in Borno.

He said the 32-man team consists of officials from Ministries of Women Affairs, Finance, Justice and Local Government, as well as Legal Aid Council, Borno State House of Assembly and Local Government Councils.

The team leader said they would visit the Kaduna state

Ministries of Justice, Human Services and Social Development, and Budget and Planning, as well as the state Peace Commission, Civil Society Organizations and Interfaith Mediation Centre.

Also, the Director Women Affairs in Borno, Hajiya Falmata Gambo, said she was impressed with what the team had seen so far.

Similarly, the Desk Officer, Borno State House of Assembly, Baba Kura Maina, said their experiences in Kaduna would help to add value to the transformational efforts of Gov. Babagana Zulum.

Maina, who described the Borno governor as a blessing to the state, said he has put in place machineries needed for restoration of the lost glory of the state.

Edited by: Maharazu Ahmed

(NAN)

Continue Reading

General news

Nothing secret, sinister about us — Ogboni Fraternity

Published

on

Leader of the Reformed Ogboni Fraternity (ROF), Chief Francis Meshioye, has again debunked public perception that the fratenity was a secret society.

Addressing newsmen in Lagos during flag off of 2019 Founders’ Day Celebration of ROF, Meshioye, said there was nothing sinister in the activities of the fraternity.

“We are far from being a secret society; we are a registered entity that abides with the laws of the land and our objectives are to promote positive values, truth, justice and cultural heritage,” he said.

He explained that contrary to beliefs in some quarters, there was nothing secret or sinister about the fraternity, saying it was founded for the good of the society.

Meshionye further explained that the fraternity was actually founded in 1914 by a Christian, Deacon Jacobson Ogunbiyi, saying the initial objective was to promote Christian values among the people.

He added that the group was later expanded to accommodate people of other faiths, hence the change in name from Ogboni Fraternity to Reformed Ogboni Fraternity.

Meshioye said a number of distinguished Nigerians, dead and living, were members of the group, emphasising that the fraternity was strictly for positive values.

He said that it was note-worthy that the founding fathers of ROF were part of those who fought for decolonisation of Nigeria, developed such establishments as the civil service, judiciary and many functional post-colonial institutions.

He listed some of them as late Sir Adetokunbo Ademola, late Chief Ladoke Akintola and late Sir Adeyemo Alakija.

The ROF leader said every Nigerian of good character could join the group as the fraternity was not for those who were seeking quick wealth.

According to Meshioye, it is important for people to understand what the group stands for, urging Nigerians to embrace the virtues of the fraternity

”The Reformed Ogboni Fraternity (ROF) has the ultimate objective of promoting good values, love discipline, not only in Nigeria but in other parts of the world wherever her members finds him or herself.

”There is a clear distinction between ROF as a fraternity and any other forms of organisations.

”Our fraternity compels her members to imbibe the fundamental injunction of ”do unto others as you wish others to do unto you ”

”However, the fraternity had to overcome many challenges that were rooted in misinterpretations of what we stand for,” the ROF leader said.

He said the celebration of ROF’s 2019 Founders’ Day was to promote the ideals of the fraternity and show the world that the group was all positive.

Edited by: Wale Ojetimi

(NAN)

Continue Reading

General news

Cleric advises Nigerians to utilise advantages of border closure

Published

on

A Cleric, Christopher Qwolabi, on Friday, advised Nigerians, especially youths, to utilise the advantages of the nation’s border closure to be self-productive and reliant.

Owolabi, the General Overseer, Christ Apostolic Church, Ori-Oke Irapada, Omu-Aran, gave the advice during the church’s special service tagged: “Toward a Prosperous 2020 and Beyond”, in Omu-Aran, Kwara.

He said the closing of the nation’s borders to curb banditry, insurgency, incessant dumping of contraband, fake and contaminated drugs, was long overdue.

According to him, the border closure no doubt has started yielding fruitful results and very glaring for the citizens to see.

“There are many things that are being imported that can be produced in large quantity locally.

“It’s an insult on our integrity and intelligence to continue to import toothpicks, food items, furniture products with our array of expertise and intellectual capacity.

“Production of local rice has increased and the commodity has flooded major markets across the length and breadth of the country.

“Patronage of other locally-produced items like beans, cassava, semovita, poultry products have also soared following the closure of the borders.

“It’s high time Nigerians, particularly the youth, utilise this positive development to engage in different aspects of agriculture for their own benefit and advantage.

“With the present high rate of unemployment and non-availability of white collar jobs, the closure of borders is, therefore, a veritable alternative for the youth to be self-productive,” he said.

Owolabi also urged practitioners of traditional medicine to come together and come up with locally-produced effective and well-packaged therapy for common ailments.

According to him, this will be a good replacement for such therapy being imported from neighbouring African countries.

“Alomo Bitters from Ghana is a good example of such highly -preferred imported stuffs being consumed by Nigerians.

“Our practitioners can also come up with such therapy for mass production and local consumption after necessary certification by the National Agency for Food and Drug Administration and Control (NAFDAC).

“Our neighbours are just taking advantage of our large population and turned the country to a dumping ground for their products.

“Their recent reactions to the border closure have shown that Nigeria is a big market in the continent, especially in the ECOWAS sub-region.

“With the right attitude, conducive environment, most  essential needs of the citizens can sufficiently be produced locally,” he said.

Owolabi urged parents, community leaders and religious leaders to always use their parental ability, counselling and preaching to sensitise the youths on the need to be self-productive.

Edited by: Angela Okisor/Adeleye Ajayi

(NAN)

 

Continue Reading

General news

Orphanage appeals for more support for less privileged

Published

on

Talitha Cumi Orphanage, Federal Housing Authority Nyanya, Abuja, has appealed to well-spirited Nigerians for more support for the less privileged in the society.

Manager of the Orphanage, Pastor Adamson Bolyawa, made the appeal when a group, Praying Women, visited the orphanage on Friday.

He said that one of the greatest challenges confronting the orphanage was the issue of school fees as most of the children were enrolled in schools.

“We call on Nigerians to come to the aid of these children who had either lost a parent or both parents.

“As children, they need the basic necessities of life,” he said.

Bolyawa said that the orphanage was a registered entity but was not a centre for child adoption.

“We don’t do adoption; we see our house as a house of refuge where people are taken off the streets and given better life.

“Some are in the universities and as a Christian home, we inculcate godly virtues in the children,” he said.

On her part, Mother of the Centre, Mrs Keziah Bennett, who expressed gratitude to God and the members for the visit said that the orphanage presently had 41 children within the toddler and teenage age groups.

She noted that the orphanage which started in 2001 had some of the children as graduates from universities across the country.

“All the children in the home are in regular schools and also engaged in skills acquisition.

“We thank God for His faithfulness which has been tremendous through out the years,” she said.

Earlier, while presenting the items ranging from food, clothing and toiletries coordinator of the group, Mrs Bukola Adewumi, said that the visit was part of the group’s mandate in contributing its quota in bringing succour to the less privileged.

While noting that the visit was the seventh edition, Adewumi said that they were at the orphanage to show love to the orphans as part of events heralding Christmas.

“We are here to share with the home out of the abundance God has given us in this season of Christmas.

“We are here to exemplify the teaching of Jesus on love for one another,” she said.

Edited by: Donald Ugwu

(NAN)

Continue Reading

General news

DSPPC restates commitment to public awareness on procurement regime

Published

on

Mr Duke Okeze, Director-General, Delta State Public Procurement Commission (DSPPC), says the commission is committed toward ensuring enhanced public awareness on the state’s public procurement regime.

Okeze made this known in Asaba on Friday at an interactive and sensitisation workshop for civil society organisations, contractors and the media on the new public procurement regime in the state.

He said that that commission remained committed to ensuring that contract awards reflected the yearning and needs of the public.

The director-general said that it was the obligation of the commission to protect, sensitise and create awareness about extant procurement laws in the state to avoid pitfalls.

“We are engaging all stakeholders to ensure robust understanding of ongoing procurement reforms in the state.

“A capacity assessment exercise is ongoing across different government Ministries, Department and Agencies,” he said.

He said the programmes was to sensitise the stakeholders on the guidelines for the implementation of the new procurement law in the state.

Okeze noted said that part of the commission’s duty was to periodically review the socio-economic effects of government policies on procurement.

“They are to also prepare and update standard bidding and contract documents and prevent fraudulent procurement practices,” he said. .

Edited by: Azubuike Okeh/Adeleye Ajayi

(NAN)

 

Continue Reading

Latest News

NNN News Nigeria: NNN is an online Nigeria news portal that publishes breaking news in politics, business, entertainment, sport, security, features, opinion, environment, education, technology, and the world news at large. NNN publishes only news that is factual, credible, verifiable, authoritative and investigative. NNN is a media subscriber of the News Agency of Nigeria. NNN is a unique media organization that is founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favor. Contact: editor@nnn.com.ng

© 2014 - 2019 NNN News Nigeria. All Rights Reserved.

editor@nnn.com.ng