Author Archive

NAICOM Explains Inspectorate Office Relocation

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NAICOM Explains Inspectorate Office Relocation

The National Insurance Commission has identified some reasons for relocating its inspectorate office from its headquarters in Abuja to Lagos. According to a statement obtained on Sunday, the action would ensure regular inspection of insurance firms; ensure cost benefit analysis of the department because over 95 per cent of the nation’s insurance operators are in…

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NIA Prepares Members For Risk-Based Supervision

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NIA Prepares Members For Risk-Based Supervision

The Chairman, Nigerian Insurers Association, Eddie Efekoha, has said that risk-based supervision being introduced by the insurance sector’s regulator will enable operators to be monitored in their compliance with the rules and how they approach risk management. He said this during a workshop on risk-based supervision by the association in Lagos. Efekoha, “The National Insurance…

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Recession: More Workers Take Insurance Cover Against Job Losses

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Recession: More Workers Take Insurance Cover Against Job Losses

Some workers, who had taken insurance cover before losing their jobs, are already getting claims settlement from their underwriters through monthly payment of salaries, which will continue till the insurance contracts expire. The main feature of the job loss cover is that the insurance company starts paying the sacked worker the salary earned from the…

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Corruption, Not a Threat to National Security, Says Magu

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Corruption, Not a Threat to National Security, Says Magu

The Economic and Financial Crimes Commission on Thursday punctured the argument of the Department of State Services that corruption was a threat to national security, the reason the latter gave to justify the raids it carried out on the homes of some judges across the country last month. The stance of the anti-graft agency is…

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Obasanjo is Grandfather of Corruption in Nigeria –Reps

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Obasanjo is Grandfather of Corruption in Nigeria –Reps

For describing the National Assembly as being peopled by a gang of unarmed robbers, the House of Representatives has lashed out at ex-President Olusegun Obasanjo, calling him the grandfather of corruption. The Reps described Obasanjo as the most corrupt Nigerian that ever held a public office, adding that he, however, saw himself as the only…

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PTAD Collaborating With EFCC To Fight Pension Fraud — Ikeazor

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PTAD Collaborating With EFCC To Fight Pension Fraud — Ikeazor

The Pension Transitional Arrangement Directorate is collaborating with the Economic and Financial Crimes Commission and other government agencies to fight fraud in pension administration. The Executive Secretary of PTAD, Sharon Ikeazor, made the statement in Abuja on Wednesday at the News Agency of Nigeria Forum. Ikeazor said: “I call the people you call pension thieves…

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Secrets Your Bank Won’t Tell You

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Secrets Your Bank Won’t Tell You

Banks often don’t tell customers what they should know. This is why the customers must research to know his or her rights. Here are some secrets you should know, according to www.advicesavings.com: Know the protection or insurance on your payment card If you’re using your ATM card for debit transactions, ask your bank what kind…

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Taxpayers To Get E-Certificate In One Week –Fowler

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Taxpayers To Get E-Certificate In One Week –Fowler

The Executive Chairman, Federal Inland Revenue Service, Mr. Babatunde Fowler, has announced that withholding tax certificate will now be emailed directly to taxpayers within one week of payment, beginning from December 1, 2016. He made the announcement at the Tax Breakfast Meeting organised by the KPMG in Lagos. While addressing tax issues, the FIRS boss…

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14% MPR Not In Nigeria’s Interest; Will Trigger Inflation – Experts

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14% MPR Not In Nigeria’s Interest; Will Trigger Inflation – Experts

The retention of Monetary Policy Rate (MPR) at 14 per cent will increase inflation rate and the banking sector non-performing loans (NPLs) profile,’’ some financial experts said on Wednesday. They told newsmen in Lagos that the retention of MPR was not in the best interest of the country, saying that it would escalate the inflation…

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We’ve Reduced Number Of Unlicensed Brokers –NAICOM

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We’ve Reduced Number Of Unlicensed Brokers –NAICOM

                      The number of insurance brokers operating without valid licence has been reduced, the Commissioner for Insurance, Alhaji Mohammed Kari, has said. He said this during the national conference of the Nigerian Council of Registered Insurance Brokers in Abuja. He said, “In recent times, the…

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