All Posts in "Day: March 15, 2021"

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President Muhamadu Buhari has
approved the reorganizations of aviation Agencies under the purview of Ministry of Aviation as part of the implementation of the Aviation Development Roadmap.

Confirming the development, James Odaudu, Director, Public Affairs, Ministry of Aviation said the President has approved the appointment of Professor Bako Mansur Matazu as the new Director-General of the Nigeria Meteorological Agency ,NIMET.

He replaces Professor Sani Abubakar Mashi. Professor Matazu holds a PhD in Geography (Applied Meteorology), with membership of the Nigerian Environmental Society, African Forestry Forum, Nigerian Meteorological Society, the Climate Change Network, Nigeria and the renewable Energy and Energy Efficiency, Nigeria (REEN).

He was, until his appointment, the General Manager, Meteorological Research in the Agency.

Odaudu further said ,” also approved by the President is the appointment of Captain Modibbo Alkali Mahmud as the new Rector of the Nigeria College of Aviation Technology, NCAT, Zaria.”

The new Rector holds the Airline Transport Pilot Licenses of the Federal Aviation Administration, USA, the Nigerian Civil Aviation Authority (NCAA), Embraer, Citation and other international professional certifications.

Until his appointment, Captain Modibbo had served in various capacities, including Pilot in Training, Fleet Captain at Dornier Aviation Nigeria, Max Air and other organisations and has clocked about 6000 hours of flying career.

Meanwhile, the President has also approved the reappointment of Engr. Akin Olateru as the Commissioner / Chief Executive Officer of the Accident Investigation Bureau, Nigeria.

An Aircraft Maintenance Engineer with Nigerian, UK and USA licenses, Olateru began his career in engineering maintenance with Pan African Airlines and the Nigerian Police Air Wing after which he left Nigeria for further studies abroad.

He has also worked with multiple airlines in Europe including KLM, Martin Air in Holland, British Aerospace Engineering and British Midland Airways.

He attended City University, London and graduated with an M.Sc. in Air Transport Management with specializations in research and simulations into accident investigations.

All the appointments are with immediate effect.
The Director also revealed that ” the reorganisation is a continuous exercise that will involve other management staff of all agencies of the Ministry’.

Patoma Admin by — March 15, 2021 in Aviation 0

By Favour Nnabugwu

The National Insurance Commission has commerce approval for insurance certificate /operating license twice in a year.

Naicom stated that the registration processes would be done twice March to May and August – October for issuance of licence/operating certificate.

“The first cycle will commence from March and ends in May with issuance of licence/operating certificate while the second cycle will commence from August and ends in October with the issuance of licence/operating certificate”

Also,  the Commission said any insurance, broking and loss adjust organisations that seek that approval from Naicom must ensure complete filing of their documentationl regulatory body hence there would be delay due incomplete documentation for desired approval from the Naicom.

Insurance regulatory body is presently bombarded with requests for new insurance brokers and loss adjusters.

“Only complete documentation will be received and processed by the Commission.
Any request received but not concluded before the end of any cycle due to late submission or any other of the applicant shall be carried over to the next cycle,” it posited.

Patoma Admin by — March 15, 2021 in Insurance 0

By admin

The International Association of Insurance Supervisors, IAIS, has set out its Roadmap for 2021-2022 despite Covid-19 without losing momentum on key reforms and the strategic objectives set out in the IAIS Strategic Plan 2020- 2024”.

The roadmap sets out the specific projects that the IAIS will undertake or continue during the next two years. “The IAIS will need to remain agile throughout 2021 by monitoring and responding to challenges, such as those arising from ongoing Covid-19 uncertainties, that may affect the effort of the association to achieve its objectives,” states the association.

The plan sets out the high-level goals and strategies of the IAIS – maintaining and adjusting its core functions of developing global standards, supporting implementation and contributing to global financial stability, while supporting its members to proactively respond to a period of rapid change in a global environment driven by technological innovation, shifts in consumer behaviour and societal challenges.

The roadmap explains that the IAIS has now shifted towards finalisation and implementation of agreed reforms. This includes revision of the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) by the end of the Insurance Capital Standard (ICS) monitoring period, to reflect implementation of the ICS as a prescribed capital requirement, criteria to assess whether the aggregation method provides comparable outcomes to the ICS, and implementation of the holistic framework for the assessment and mitigation of systemic risk in the insurance sector, and qualitative aspects of ComFrame.

According to the IAIS: “The Covid19 pandemic provides added impetus to continue to drive the finalisation and implementation of agreed reforms; in the case of the ICS monitoring, for example, the turbulence of the Covid-19 crisis has provided an opportunity to test the adequacy and robustness of this supervisory tool in times of market stress.”

It adds: “In fact, the Covid-19 pandemic is serving as a catalyst that is adding impetus and accelerating many of the key strategic themes identified in the Strategic Plan, including climate risk, technological innovation, cyber risk, issues of conduct and culture, and sustainable development. There are also new themes that have emerged from the Covid-19 crisis, such as the protection gap with respect to pandemic risk, and operational risk and resilience issues related to insurance supervision under a ‘new normal’ of increased remote working, remote supervision and an accelerated digitalisation of the insurance business model.”

Patoma Admin by — March 15, 2021 in Insurance 0

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AXA board unanimously chose Mr Gosset-Grainville after a two-year process to become the new chairman in April next year.

Granville will take charge at the end of the tenure of Denis Duverne the current and outgoing chairman in April 2022.

Gosset-Grainville is a graduate of the Institut d’études politiques in Paris and holds a postgraduate degree in banking and finance from the University of Paris IX Dauphine.

He began his career in 1993 at the Inspection générale des finances, before taking the position of deputy general secretary of the European Monetary Committee and then the EU’s Economic and Financial Committee in 1997.

Mr Gosset-Grainville was EC Economic and Industry Affairs adviser for trade from 1999 to 2020. In 2020, he became a partner at law-firm Gide, where he managed the Brussels office, before becoming deputy director of the cabinet for the French Prime Minister in 2007.

In 2010, he was appointed deputy managing director of the Caisse des Dépôts et Consignations, in charge of finance, strategy, investments and international operations, and was interim chief executive of the group from February 2012 to July 2012.

Mr Gosset-Grainville co-founded the law firm BDGS Associés in 2013.

“Following a comprehensive succession process, conducted in line with our governance standards, I am pleased that the board has come to a unanimous decision on my successor, Antoine Gosset-Grainville. Antoine’s extensive experience in the world of business and public affairs, as well as his entrepreneurial track record in building a successful law firm in Paris, will bring a great deal to AXA and help drive the next phase of the group’s success. I look forward to working closely with Antoine over the next year to ensure a smooth transition,” said Mr Duverne.

AXA CEO Thomas Buberl said it has been a privilege to work with Mr Duverne and is pleased Mr Gosset-Grainville has agreed to become the next AXA chair.

“His broad experience will be a valuable asset for the management committee and me in managing the challenges in front us. I would also like to thank the board for having run such a high-quality and comprehensive succession process,” he added.

Mr Gosset-Grainville said he is honoured by the confidence placed in him by AXA’s board. “I would also like to thank Denis Duverne and Thomas Buberl for their trust. I look forward to working closely with Denis Duverne, Thomas Buberl and the board over the next year to ensure a successful transition in April 2022,” he said.

Patoma Admin by — March 15, 2021 in Insurance 0

The Director General World Trade Organisation, WTO, Dr Ngozi Okonjo-Iweala has said that the share of Nigeria’s global trade stands at 0.33 per cent was too small to boost the country’s economic aspirations. and 19 percent African trade.

Okonjo- Iweala who made this known at the office of the Minister of Industry Trade and Investment, Mr Adeniyi Adebayo at the Ministry and the Minister of Foreign Affairs, Geoffrey Onyeama in Abuja, noted that it is a small fraction of what the country can achieve.

The WTO boss said that Nigeria has more paths to thread in areas relating to trade, logistics, agriculture and finance.

She added that the country must step up action on its economy, maintaining that trade can be instrumental if Nigeria can add more value to its products and improve its infrastructure to deliver trade.

According to her, “Nigeria is 103 out of 167 countries in logistics and that means we have a long way to go. For me that is a potential area we can invest to improve our logistics so we can take advantage of trade within the Africa Continental Free trade Area.

“We have difficulty and challenges with our economy, we have to move fast, we have potential to do so much better and trade is a very strong part of that story”.

The Director General, however said in world trade, Nigeria is active in areas of agriculture and joint Statement initiatives.

“Trade negotiations on agricultural issues are very important to us and we are very active there. Nigeria is a leader on issues of e-commerce, services domestic regulations, investment facilitation, micro small and medium enterprises and women in trade”, She noted.

Okonjo-Iweala, said that the WTO will work with Nigeria to help deliver support directly with its resources in technical assistance, training and quality upgrade but also with other institutions in unlocking some of the bottlenecks that confronts the country.

She said “The WTO is about supporting investments and supporting infrastructure in technical assistance, it is not a financial institution but it works with financial institutions.

“It is one of the economic institutions that were created with the World Bank and the International Monitory Fund, IMF, these are three powerful institutions that working together can deliver a lot.”

The WTO Boss expressed hope that Nigeria will take a very active supportive role in helping her deliver on some of the mandates.

“The WTO faces many challenges and also needs its own reforms to deliver results, the organization has not delivered a multilateral round of negotiations in quite a number of years and we have the unique opportunity of delivering the fishery subsidy negotiations.

“The dispute settlement system that is paralyzed we have to discuss with all members including the United States on how to make this work again, because the rules based organisation cannot continue to make rules if the dispute settlement system does not work”, she maintained.

In his remarks, the Minister, Industry Trade and Investment, congratulated Dr Ngozi Okonjo-Iweala on her appointment as the Director General WTO, hinted the DG on some of the country’s expectations regarding engagements in ongoing negotiations and discussions.

According to him, “On the ongoing agriculture negotiation, Nigeria expects balance and equitable outcome that addresses structural causes of food and livelihood insecurity in Net Food Importing Developing Countries NFIDC and Least Developed Countries LDC.”

“On the Fishery Subsidy Negotiations we look forward to outcomes that result in reduction in over fishing and unsustainable fishing practices with effective differential treatment that allows a sustainable development of developing countries.”

Speaking also, the Minister of State for Industry Trade and Investment, Amb Maryam Katagum urged the DG WTO not to forget the commitment to sustain and enhance the ongoing dialogue and action on ‘women in trade’, as a firm believer in the power of trade to lift developing countries, including Nigeria out of poverty.

The Minister of Foreign Affairs Geoffrey Onyeama in his office assured DG of WTO of the Federal Government support in dealing with trade Nationwide and the world at large.

Patoma Admin by — March 15, 2021 in News 0

By admin

he National Insurance Commission (NAICOM) has given her go ahead for Mr Edeki Isujeh to be  new managing director/CEO of Custodian and Allied Insurance Limited.

Custodian and Allied Insurance Limited is the general business arm of the Custodian Group.

Edeki Isujeh was announced as the new managing director of the general insurer following the retirement of the erstwhile managing director, Mr Toye Odunsi in December 2020.

Isujeh has over 30 years experience in the Insurance Industry, having worked in different insurance companies in the areas of; Insurance operations, sales/business development and general management
At Custodian, he has at various times coordinated the marketing and technical operations of the company and as a result of his commitment and hard work, he was appointed the executive director of the company in 2016.

He holds a Bachelor of Science degree in Insurance from the University of Lagos and is a member of the Chartered Insurance Institute, London.

Aside from various technical courses attended in and outside Nigeria, he has over the years attended management courses preparing him for leadership role.
He is an alumnus of the Lagos Business School (LBS) as well as the Wharton Business School, USA where he attended executive programmes

Patoma Admin by — March 15, 2021 in Insurance 0