• Cargo-Ship

    Insecurity: Insurance Firms Impose N2.3trn Premium On Nigeria-bound Ships

    | Leave a comment

    Foreign and local ship owners as well as charterers entering Nigeria’s territorial and coastal waters are paying a whopping N2.3 trillion every year to foreign insurance companies to insure their ships against any attacks, LEADERSHIP has exclusively gathered. Findings revealed that each of the 5,000 vessels calling at the nation’s ports are made to pay…

    Continue Reading ...
  • imported_cars2

    Insurance Sector Loses N240bn To 8m Uninsured Automobiles

    | Leave a comment

    The insurance industry has lost a whopping N240 billion premium income from the non-insurance of an estimated eight million tricycles and motorcycles which ply Nigerian roads, over a period of 16 years, from year 2000 to 2016, LEADERSHIP investigation has revealed. This figure, according to findings, is only N10 billion less than the total premium…

    Continue Reading ...
  • chinelo_anohu_amazu_pencom

    Controversy Trails PenCom’s Directive On Custody Of N145bn Annuity Fund With PFCs

    | Leave a comment

    The recent circular issued by the National Pension Commission (PenCom) mandating life insurance companies to transfer about N145.05 billion Annuity fund in their possession to Pension Fund Custodians (PFCs) is generating controversy between insurance and pension sectors, LEADERSHIP learnt at the weekend. Investigation showed that the insurance industry regulator and operators are unhappy with the…

    Continue Reading ...
  • Nigerian pensioners

    333 Lagos Retirees Get N1.5bn Pension Entitlement

    | Leave a comment

    Lagos State Government has paid N1.5 billion pension entitlement for the month of October, 2016, to 333 retirees in the state. The beneficiaries are retirees from the Mainstream Civil Service, Local Governments, and State Universal Basic Education Board (SUBEB), Teachers Establishment and Pensions Office (TEPO) and other parastatals of state government. The Director-General, Lagos State…

    Continue Reading ...
  • nigerian_banks

    Zenith Bank, 6 Others Get Moody’s National Scale Ratings

    | Leave a comment

    Moody’s Investors Services has assigned national scale ratings (NSRs) to Zenith Bank, Sterling Bank Plc and five other Nigerian banks. This rating action, according to a statement from Moody’s, follows the publication of new national scale rating maps for Nigeria, Kenya and Morocco, which provide a measure of relative creditworthiness within a single country, and…

    Continue Reading ...
  • insurance

    Islamic Insurance Firms To Begin Operations In Nigeria

    | Leave a comment

    Some new Islamic Insurance Companies (Takaful) will commence operations in the country in the next couple of months, thus becoming the first set of fully-fledged Takaful Insurance companies in the country, LEADERSHIP exclusively gathered over the weekend. Takaful insurance guarantees profit sharing between the insurer and the policyholders, a trait that is absent in the…

    Continue Reading ...
  • insurance

    How Insurance Industry Fared Since Nigeria’s Independence

    | Leave a comment

    As Nigeria celebrated its 56 years of independence recently, ZAKA KHALIQ chronicles events in insurance industry in the last 56 years The birth of modern insurance in Nigeria is closely associated with the arrival of British trading companies, which facilitated inter-regional trade in the country. These foreign companies, therefore, needed to deal with some of…

    Continue Reading ...
  • Chinelo-Anohu-Amazu

    FG To Float Bond To Offset Pension Arrears

    | Leave a comment

    The federal government is seriously considering the bond option in the next couple of weeks to offset the over N90 billion accumulated pension liabilities owed workers under the Contributory Pension Scheme (CPS). A reliable source in the Presidency told LEADERSHIP that due to the fact that successive administrations had not been consistent in the remittances…

    Continue Reading ...
  • insurance

    Fraudulent Claims Raise Concerns In Insurance Sector

    | Leave a comment

    Amidst economic recession in the country, some insuring public have devised various means of making fraudulent claims from insurance companies, in a bid to make quick money, LEADERSHIP learnt over the weekend. Though, the issue of fraudulent claims is not new in the nation’s insurance industry, findings have shown there has been massive increase in…

    Continue Reading ...

Daily Columns