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NIA generates over N1.5b from tax refunds, contributions

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Tax

The Nigerian Insurers Association (NIA) has secured a tax refund of over N1 billion in the year 2017.

Besides, the umbrella body of all the operating insurance companies across the country, received a total contribution of over N500 million within the period under review.

The immediate past Chairman of the association, Eddie Efekoha, disclosed the figures, while making a valedictory press briefing during which he gave account of his stewardship within his two years tenure.

He said the fund realised from tax refunds and contributions from members amounting to N1.5 billion is being ploughed into the ongoing construction of NIA Towers.

Efekoha stated that the construction has commenced for the seven-storey new secretariat building and it will cost the association a total of N1.5 billion to complete it in the next two years.

We are delighted that the building construction has taken off. We will continue to work hard to make sure the building is completed in the next two years. I thank members for their support, morally and financially, in making the building realisable.

Eddie pointed out that the two years of his leadership was very productive and four critical areas in line with the theme were significantly addressed.

While discussing on the topic: Sustainable Market Development Through Stakeholders Engagement, he said it was strategically chosen to address the observed information gap that exists between the insurance profession/industry and the insuring public/other stakeholders.

He said NIA has been able to engage stakeholders constructively and has recorded productive relationships.


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Eddie EfekohaNIA
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