African Alliance calls for customer focused collaboration with Media

By Favour Nnabugwu


Africa Alliance has urged the Media to collaborate with the insurance industry for a more customer focused to propagate insurance to nooks and crannies.

The managing director at African Alliance Insurance Plc, Mrs Joyce Ojemudia, made charged during the Annual General Meeting if National Insurance & Pension Correspondents held in Lagos today.

Represented by the Head Marketing, Mr. Emmanuel Eburajolo, Ojumedia implored the media to create a customer-focused collaboration that leans on working with students to spread the gospel of insurance and creating digital vibrancy that encourage virality.

Ojemudia pointed out that the members of the association to the insurance students association of universities that NAIPCO can collaborate with to enhance insurance awareness.

She also commented on the digital adoption which she noted “is taking better roots” but much more areas of virality she advised should be explored in the digital space.

The African Alliance MD advised website owners to optimise sites by embracing a viable email marketing tool to drive traffic to these sites and encourage virality and have an active and social media presence.

Faces @ NAIPCO 2021 AGM in Lagos


L –  Chairman, National Association of Insurance and Pension Correspondents (NAIPCO), Chuks Udo Okonta; Head of Marketing, African Alliance Insurance Plc, Emmanuel Eburajola; Vice Chairman, NAIPCO, Ngozi Onyeakusi; Head, Brand, Media & Communications, African Alliance Insurance, Bankole Banjo, and Brand, Media & Communications Executive, African Alliance Insurance, Ganiyat Momoh, at the 2021 annual general meeting of NAIPCO in Lagos on Thursday.

L- General Secretary, National Association of Insurance and Pension Correspondents (NAIPCO), Zaka Khaliq; Chairman, Chuks Udo Okonta, and Vice Chairman, NAIPCO, Ngozi Onyeakusi, during the association’s 2021 annual general meeting in Lagos on Thursday.

Africa Re extends CEO Karekezi’s contract to 2026 as chairman quits board

By Favour Nnabugwu

The African Reinsurance Corporation (Africa Re) has extended the contract of group managing director and chief executive officer (CEO) Corneille Karekezi until June 2026.

The 43rd General Assembly of Africa Re was held remotely on 30 June 2021. On that day, the Board of Directors decided to reappoint  Karekezi as Chief Executive Officer (CEO) for another five years.

Karkezi has been managing the pan-African reinsurer since 1 July 2011.

Also, the Board of Directors being chaired by Mr Hassan BOUBRIK and comprises 12 substantive members is to leave the board as Chairman.

KAREKEZI rose to the current position of Group Managing Director / Chief Executive Officer of Africa Re in July 2011 after a transitional period of 2 years during which he served successively as Deputy Managing Director and Deputy Managing Director / Chief Operating Officer. Between 2003 and 2005 he served on the Board of Africa Re.

His professional career started in 1991 as Chief Accountant /Reinsurance Manager of the leading insurance company in Burundi (SOCABU s.m.), where he rose to the position of Head of the Finance Department. In 1995, he joined the leading insurance company in Rwanda (SONARWA s.a.) as Deputy Head of the Commercial & Technical Department. From 1996, he successively headed all the Technical Departments (Motor, Fire, Accidents & Miscellaneous Risks and Life) and was appointed Deputy Managing Director in early 2001. In February 2008, he was appointed Chief Executive Officer of SONARWA s.a.

Dr KAREKEZI holds a Bachelor’s degree in Economics (Burundi), Postgraduate Diplomas in Business Administration (UK), a Master’s degree in Management (Burundi), an Honorary Doctorate in Business Administration (UK) and a Doctorate in Business Administration (France & Israel). He speaks fluently English, French, Swahili and other African languages.

Since 1996, he has contributed significantly to the development of the insurance / reinsurance industry in Africa through his involvement and leadership in various national, regional and continental initiatives and organizations. He has equally participated actively as speaker in seminars, conferences, symposia and other fora across the world.

He has served as Chairman and member of governing bodies of various financial institutions in Africa. He is currently the Vice Chairman of Africa Re (South Africa) Limited, Vice Chairman of Africa Retakaful Company (Egypt) and a Member of the Executive Committee of the African Insurance Organization (AIO) where he chairs the Finance Committee.

Meanwhile, the Directors of Africa Re are elected by the General Assembly for a period of three years and may be reelected at the expiration of the term. They shall continue in office until their successors are elected. The table below contains the current members of the Board of Directors of the Corporation as well as the constituencies/group of shareholders which they represent.

NSITF nets  N180bn pension contributions

By Favour Nnabugwu



The Nigeria Social Insurance Trust Fund (NSITF) said it has generated N180 billion pension contributions in the last ten years.

The Managing Director of the organisation, Dr. Michael Akabogu, made this, at a media parley, in Abuja today

He said, “We have collected both from the private sector who have contributed about 80 percent of the total revenue and from the government and all other agencies.  We have raised about N180 billion over 10 years, from inception. July 2011-May 30th 2021”.

The MD said that the performance could have been much better if all eligible employers were committed to the scheme.

On the financial scandal that hit the NSITF recently, the MF said that mechanisms would be put in place to forestall a reoccurence.

“It will never happen again,” he said, adding, “in the next few months, we have to work together to ensure that our operations are automated so as to be able to cut off some of these little issues”.

He added, “some times people make payments but it doesn’t get to the state branches of the Fund because of some nuisances that disguise themselves as NSTIF officials and agencies.

“They send various mails using the name of NSITF and the people that fall pray to that send money to them thinking that they are our agents, these are some of the things we have to make sure that we cut down on.

“You might come across these ponzi schemes that ask people to pay money into an NSITF account after which the amount will be doubled. Those are not NSITF members.”

Dr. Akabogu “before we had a 14-day period – the time that the case is reported to the time that the payment is made we decided that we have to develop an electronic  platform which is currently in progress, that would enable us monitor the movement of the files, so instead of the 14 days, we are targeting 10-11 days. At least we will be able to shed off  three days”.

The MD promised to enforce remittances in order to halt the practice where contributions are deducted from employees by their employers but never remitted to NSITF.

His words, “if deductions are made from employees’ salaries, and not remitted, it is an offence that is punishable by fines and imprisonment.

“Over the years we have been using a persuasive method to get employers to pay fines for wrongful deductions from employees’ salaries, but now our legal arm has been activated, employers who refuse to pay fines will be taken to court and followed up to ensure that they pay what is due”.

Akabogu said that a list of defaulting employees was being compiled for appropriate prosecutions”.

The Head of Enforcement of the NSITF Mr. Lateef Musa disclosed that “the scheme has registered almost 200,000 employers generally but only 170,000 were actively making their contributions.

Airlines owe FG agencies N37bn, Aviation Minister 

By Favour Nnabugwu

Airlines in the country are said to be owing Federal government agencies to the tune of N37 billion, according to the Minister of Aviation, Sen. Hadi Sirika.

He also alleged that despite the fact that Bi-Courtney Limited, was owing about N13 billion, it has not remitted a dime to government coffers for 13 years.

Sirika stated this when he featured at the ministerial press briefing organized by the Presidential Communication Team at the presidential villa, Abuja.

The Minister explained that the debts were owed to aviation parastatals including Federal Airports Authority of Nigeria (FAAN), Nigerian Airspace Management Agency (NAMA), Nigerian Civil Aviation Authority (NCAA) among others.

He further said that government had been circumspect in demanding for the payment mindful of how the might react.

He, however, vowed that the government would go after the airlines and other aviation stakeholders to make sure that they pay what they owe.

Speaking on the controversy over the disbursement of the N5 billion COVID-19 palliative to aviation stakeholders, he said that it was agreed that airlines owing aviation parastatals should not benefit from the palliative.

According to him, “In fact, the service providers in our system, FAAN, NAMA, said oh these guys are owing us, we should take the money from the money being given as palliatives.

“We said no but the intent of President Buhari is ensure that he cushion the effect on businesses. Let us find a way of surviving, and let them take the money. So we would have taken the money and left them with nothing and we stay with nothing.

“So, this brings to the question on the money owed the parastatals. It is about N37 billion that they are owing, especially, Arik, the culprit. I know they’re owing us about, N13, N14 billion.

“If you’re owing government, you are owing FAAN, the Bi-Courtney is owing about N14 billion as at the last count. It has not paid a single dime since the time he started to run the terminal building. And we have not ceased giving him, electricity, water, fire cover, and so on and so forth. He hasn’t paid a dime for 13 years.

“And if we go to shut his doors, media, of course, and Nigerian people will say we’re killing businesses but he is killing our services too, because we have to have that money to provide for that toilet that you’re looking in Lagos airport. Most of these are living by their IGRs and so, we need the money but we will go after the money.”

On the alleged non remittance of N13 billion by Bi-Courtney Limited, to government coffers for 13 years, he recalled how Bi-Courtney obtained the contract to build Lagos Terminal, adding, “They built it not in the original location that we gave. They moved to another location.

“They also annexed what is not part of the agreement, like the car park and the school and so on and start to build hotel, which is not part of the agreement. But that’s another issue.

“So they produced a terminal. But when you produce terminal, you should be paying the agreed money back to government overtime to a point where you will return the terminal building. In this case, it was supposed to be 12 years because he didn’t do anything abinitio initially. After two years of doing nothing, he now quickly built and when already 2, 3, 4 years has gone from 12 years.

“He went for a review. Mind you, there is no ICRC (Infrastructure Concession Regulatory Commission). So, there is no regulator. He went to government to review it to from 12 years to 15 years to 20 years to 25 years to 30 years to 33 years. And we met it that way.

“And over that 13 years, he has not paid FAAN or any agency as single dime for operating that terminal till today.

“So, we ought to be paying so the other 25 years we would have made money out of it. He would have made his own money and you hand over the building back to us.

“Well, I have to go into the books to know to know the numbers that was agreed. So, it happened like that because there is no institutional framework. There is no legal framework to deliver concession. Today in Nigeria, there is ICRC that will guide this concession and we will make money from day one. Okay.

“The BPE is selling of government properties. But concession is that of the ICRC which is established by law, and we’re using ICRC to do our own.

“So, yes I said, he has not paid a dime to us and is still there and we are providing electricity to him. We are providing security to him. We are providing fire cover to him, and so on so forth. And we’re providing our own runway for him to land. We are also providing our own apron because is our spaces, our land. He is not paying a dime yet.”

On how government will deal with the situation, he stated: “Yes. Well, we’re resolving it and we’re talking with Bi-Courtney. We will ensure that we recover people’s money and also recover the property and put it to use in accordance with the law of the land.”

The minister also gave the reason for the frequent collapse of airlines in the country, noting that it is because of poor management capacity.

He said the federal government has therefore decided to establish an Aviation University for the development of all round capacity in the sector.

Sirika added that a small team is already working on the outline of the university, which he said, will be run half online and half full time.

He also revealed that the ministry has released a total of 67 final aviation accident reports covering the period of 2007 – 2016 in government’s bid to ensure that the causes of previous airline accidents are known.

Sirika, who affirmed that the Civil aviation sector can sustain the Nigerian economy, said four airports have already been designated as special economic zones.

Speaking on the achievements of the Aviation ministry under the current dispensation, the minister said these included seven standardized training packages developed with International Civil Aviation Organization (ICAO), construction of Boeing 737 Simulator building, supply and installation of Boeing 737NG full flight simulator, supply and installation of THALES DVOR/DME and Instrument Landing Systems for flight training, automated fire/smoke aircraft training simulator among others.

While noting the completion of work in different airports across the country, he said five airports have already been fitted with Instrument Landing Systems (ILS) to enable aircrafts to land in poor conditions, noting that plans are on to extend it to a total 15 airports in all.

He said Nigeria has also acquired the capacity to download cockpit recorder content for accident investigation, a facility, which he said is the 3rd best in the world.

On the proposed new national carrier, Sirika said his ministry will present the re-worked Outline Business Case (OBC) to the Federal Executive Council (FEC) in the next one or two weeks for approval.

He also stated that plan for the airline was on course, explaining that government recently launched the airline logo in the United Kingdom for the sake of exposure.

Answering a question on the plight of airline passengers in the country, the minister said operators must provide refreshments to passengers or refund the full cost of tickets where they delay their flights.

Referring to the rights of passengers contained in a leaflet he brought to the briefing, he said: “On domestic flights, delay beyond one hour, carrier should provide refreshments, and one telephone call, or one SMS, or one e-mail. They should send you an SMS or email or call you to say, ‘I am sorry, I am delaying for one hour.’

“Delay for two hours and beyond, the carrier shall reimburse passengers the full volume of their tickets.

“Delay between 10pm and 4am, carrier shall provide hotel accommodation, refreshment, meal, two free calls, SMS, email and transport to-and-fro airport.”

He said the same thing is required of international airlines.

N5bn COVID-19 bail out shared between airlines, other stakeholders – Minister

By admin



The Ministry of Aviation has revealed that the controversial N5 billion COVID-19 bailout fund was shared among the airlines and other stakeholders.

The Minister of Aviation, Sen. Hadi Sirika, at the weekly State House Briefing in Aso Villa, Abuja. on Thursday, said other stakeholders including Handling companies, Airport taxis among others.

He said, “Out of the N22 billion that was approved, N5 billion was released and that was shared among airlines, ground handling companies and airport taxis among others. The ministry and parastatals did not get anything from the said amount.

“When we got the fund, I called for a meeting with all stakeholders including airlines, catering firms, ground handling firms and airport taxis among others. At that meeting, we all agreed on the sharing formula. Obviously, we will not give Air Peace and Dana the same money because one is bigger with more aircrafts among other factors.

“Contrary to the speculations that the money was shared by the ministry and among parastatals.”

Domestic airlines such as; Aero Contractors, West Link, TAL Helicopters and a few others have claimed they yet to receive their own share of the initial N5billion disbursed by the aviation ministry.

They are prompting operators to believe the fund disbursement was lopsided even as Ibom Air was equally excluded from the fund based on the reason that it is a state-owned airline.