• insurance

    58 Insurance Companies Face Capital Base Verification

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    The 58 insurance companies in the country will have their capital base verified by the National Insurance Commission(NAICOM) in a move that will lead to the commencement of Risk Based Supervision(RBS) and recapitalisation, LEADERSHIP learnt yesterday. This exercise is coming up 10 years after the last recapitalisation exercise took place in the nation’s insurance industry,…

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    Contributory Pension Scheme: 26 States Fail To Make Remittance To Retirement Savings Account

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    The inability of Federal Government and some state governments to honour pension obligations of their respective workers has not only created several billions of naira in pension arrears for the two tiers of governments, but has left the Contributory Pension Scheme (CPS) in the country in utter disarray. Findings by LEADERSHIP Sunday indicates that only…

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  • PTAD To Commence Verification For Nigerians In Diaspora

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    The Pension Transitional Arrangement Directorate (PTAD) will soon commence pension verification exercise for Nigerians in the Diaspora. Executive Secretary, PTAD, Mrs Sharon Ikeazor, who gave the hint when she visited the Senior Special Assistant to the President on Foreign Affairs and Diaspora, Hon. Abike Dabiri-Erewa, in Abuja, said,  she was in the SSA’s office to…

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    2 Islamic Insurance Firms Begin Operation In Nigeria

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    Two Islamic (Takaful) insurance companies have commenced operations in the country, thus, becoming the first set of fully-fledged Takaful Insurance companies in Nigeria, LEADERSHIP exclusively learnt. The two companies are Jaiz Takaful Insurance Company, with head office in Abuja, and Noor Takaful Insurance Company Plc based in Lagos State. LEADERSHIP had earlier exclusively reported that…

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    Insurers To Increase Vehicle Rates, Target N16bn Premium

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    With the double digit inflation and naira devaluation affecting the prices of goods and services across the country, the owners of the 16 million vehicles plying Nigeria’s roads will have to pay N16 billion more to either purchase or renew their third party motor insurance policies in the current year, LEADERSHIP exclusively learnt. Currently, third-party…

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  • Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah

    New NAICOM Plan To Cost 1,600 Insurance Jobs

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    Insurance broking firms and insurance agent outfits in the country may face a profit decline, with some of their workers expected to lose their jobs in the current year, by the time the planned new insurance distribution channels commence operations in the industry, LEADERSHIP Weekend exclusively gathered. Last year, investigation showed that more than 500…

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  • IPC Condemns Attacks On Journalists

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    The International Press Centre (IPC) has condemned recent attacks on three Nigerian journalists as well as the clampdown on media organizations in The Gambia. IPC, in its recent update report on monitoring of the safety of journalists, disclosed that not less than three journalists have been arrested in Nigeria and two private radio stations shut…

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    40 Insurance Companies To Recapitalise

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    No fewer than 40 out of the 58 insurance companies operating in the country will be required to recapitalise their shareholders’ fund this year, LEADERSHIP has exclusively gathered. The planned recapitalisation follows the drop in shareholders’ fund of the insurance companies, which is now below statutory requirement. The recapitalisation, it was learnt, is to enable…

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