Insurance
27 Feb
The Nigeria Deposit Insurance Corporation (NDIC) has appealed for the continued support of external solicitors’ of the Corporation in facilitating debt recovery and assets realisation of failed banks. Mr Hassan Bello, the Managing Director of NDIC, made the appeal at the 2024 Sensitisation Seminar for External Solicitors of the NDIC in Abuja on Thursday. Bello,…
14 Feb
Motorists and stakeholders in the transportation sector have appealed for more sensitisation on the importance of third-Party motor vehicle insurance before enforcement of the Inspector General of Police, Mr Kayode Egbetokun’s directive. The News Agency of Nigeria (NAN) recalls that the IGP had ordered command’s across the country to start enforcement of the third party…
12 Feb
The former President of the Chartered Institute of Insurance Nigeria (CIIN) and CEO of Risk Analyst Insurance Brokers, Dr. Funmi Babington-Ashaye, was recently celebrated for her illustrious career and transformative contributions to Nigeria’s insurance sector. As she marked her 60th birthday, industry leaders, colleagues, and friends gathered to honour her remarkable achievements and unwavering commitment…
10 Feb
Following the nationwide enforcement of the Third-Party Motor Insurance Policy, underwriting firms may realise over N142 billion in revenue from 9.5 million uninsured vehicles in the country by the end of this year.
7 Feb
President Bola Tinubu on Friday congratulated Dr Funmi Babington-Ashaye on his 60th birthday, applauding her career in the insurance sector and commitment to Nigeria’s socioeconomic advancement. “As the 48th President of the Chartered Insurance Institute of Nigeria (CIIN), Babington-Ashaye, now the CEO of Risk Analyst Insurance Brokers, spearheaded innovative reforms that elevated industry standards and…
2 Feb
Police Command in Kogi has warned defaulters as it begun the enforcement of mandatory Third-Party Insurance Policy for all vehicles in compliance with the directive of the Inspector-General of Police (IGP), Kayode Egbetokun. The Commissioner of Police, Mr Miller Dantawaye, has ordered strict adherence to the IGP directive across the state. Dantawaye, in a statement…
1 Feb
The Police Command in Kaduna State says it has begun the enforcement of Third Party Insurance Policy from Saturday. The command’s spokesperson, DSP Mansir Hassan, announced this in a statement issued on Saturday in Kaduna. Hassan said that the enforcement was in line with the directive of the Inspector General of Police, Dr Kayode Egbetokun.…
29 Jan
Industry statistics revealed that Nigerian insurance firms recorded N3.88 billion in total assets as of the third quarter of last year, an increase of 5.1 per cent compared to the corresponding period of 2023 when it reported N2.81 billion.
20 Jan
The rising rate of insurance claim defaults is unsettling in the sector, and the insured is fast pitching against the insurers.
13 Jan
Lagos State Resilience Office (LASRO), in partnership with the Resilient Cities Network, global insurance intermediary group, Howden, and key private sector stakeholders is set to hold the Lagos Water Risk and Insurance workshop in Lagos on Wednesday, 15th, and Thursday, 16th of January, 2025. Chief Resilience Officer for Lagos State, Dr. Folayinka Dania, who disclosed…
6 Jan
Stakeholders in the country’s insurance industry have expressed optimism that the sector would become a major force in the financial sector, contributing significantly to the country’s gross domestic product (GDP) growth.
17 Dec
The Nigerian Senate has passed the 2024 Nigerian Insurance Industry Reform Bill. This followed the adoption of the report from the Committee on Banking, Insurance, and Other Financial Institutions at plenary on Tuesday. The report was presented by the Chairman of the Committee, Senator Abiru Adetokunbo (APC-Lagos). Senator Adetokunbo, while presenting the report, noted that…
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The coalition of opposition lawmakers has warned Rivers State’s sacked lawmakers to desist from issuing orders to the Governor of the state, Siminalayi Fubara, until their defection case is resolved. This directive comes a few days after the Supreme Court passed a judgment in favor of the Amaewhule-led faction and ordered them to resume legislative…
2 mins ago
Governor Nasir Idris of Kebbi has approved a reduction in official working hours for civil servants in the holy month of Ramadan. The approval is contained in a statement issued by Alhaji Awwal Manu-Dogondaji, the Commissioner for Establishment, Pension and Training in Birnin Kebbi on Tuesday. According to the statement, civil servants in the state…
6 mins ago
Lagos State Commissioner for Health, Prof Akin Abayomi, on Tuesday, said that Lagos records an estimated 900,000 malaria cases annually, with febrile illnesses presumed to be malaria contributing to over 50 per cent of general outpatient visits in public health facilities. Speaking at the launch of the Malaria Pre-Elimination and Digitization Programme in Lagos State…
10 mins ago
Former Deputy National Publicity Secretary of the All Progressives Congress (APC) and political activist, Comrade Timi Frank, has raised concerns over an alleged plot to tamper with the Supreme Court's judgment on the Rivers State political crisis. Frank, in a statement issued in Abuja on Tuesday, warned that some individuals loyal to a former Rivers…
11 mins ago
The Nigerian Bar Association (NBA) has fixed N50,000 as the minimum legal service charge for the incorporation of business and company names. The remuneration for this, as stipulated by the NBA, ranges from N50,000 to N500,000, depending on the expertise of the legal professional. For instance, legal practitioners with nine years of post-qualification experience or…
25 mins ago
The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has predicted a downward decline in the cost of Premium Motor Spirit (PMS), popularly known as petrol. Rewane said this after Dangote Refinery and the Nigeria National Petroleum Company Limited (NNPCL) announced a crash in PMS price. In a statement, Dangote Refinery a reduction of…
30 mins ago
Nigerian comedian Isaac Aloma, popularly called Zicsaloma, has shown off his latest look following his rhinoplasty surgery in Turkey. The comedian, who had previously addressed the mixed reactions surrounding his decision to undergo the procedure, took to Instagram on Tuesday and made it clear that his old pictures are no longer in circulation. “No more…
33 mins ago
The Ijaw National Congress (INC) has warned that any orchestrated plan to impeach Governor Siminalayi Fubara of Rivers State would lead
45 mins ago
The Movement for the Survival of the Ogoni People (MOSOP), and thirty groups have staged protests in Bori to demand justice for Ken Saro-Wiwa and the Ogoni Eight, executed in 1995 for their advocacy on environmental stewardship and human rights. The protesters marched through the streets of Bori, carrying placards with various inscriptions such as…
46 mins ago
The Transmission Company of Nigeria (TCN) has announced that Nigeria's power sector has generated 5,713.60MW, a new peak generation for the year 2025. In a statement, TCN said the peak was recorded on Tuesday, March 2, 2025, at 21:30 hours, adding that it was successfully transmitted. TCN said the new generation peak of 5,713.60 megawatts…