All Posts in "Day: June 1, 2022"

Friends, associates celebrate SMEDAN Director, Engr David Ozigi as he retires

By Favour Nnabugwu
The retirement of highly resected director of the Small and Medium Enterprises Development Agency, (SMEDAN), Engr. David Ozigi was celebrated by friends, family and associates gathered together in Abuja
The Registrar of the Council for the Regulation of Engineering in Nigeria (COREN), Engr. Prof. Adisa A. Bello, FNSE, who spoke on the topic Character and Integrity in Professional Practice’,  described professional integrity as the practice of maintaining ethical behaviour, strong adherence to moral and ethical principles and values such as honesty, honour, dependability and trustworthiness.
He further outlined the importance of integrity in the work place to be beneficial to both the individual and the organisation, stating that the individual gains respect, trust and confidence of his peers and bosses, thus integrity in the workplace ultimately guarantees overall success.
He stated that some of the characteristics of a man of character and integrity includes valuing other peoples time, giving credit to where credit is due. They are always honest and never take advantage of others. They give most people the benefit of doubt, they believe in others and trust others.
Prof. Adisa A. Bello described the celebrant as an epitome of Character and Integrity. He went down memory to 1985 when he had his first contact with Engr. Ozigi who was his lecturer at ATBU Bauchi where he taught Strength of Materials.
He further described all the former students of ATBU Bauchi that were taught by Engr, Ozigi as being very fortunate. Engr. Ozigi took his time even outside his scheduled lecture hours to ensure that everyone understood the courses he taught, stating that Engr. Ozigi was however very strict with compliance to instructions, punctuality and thoroughness.
Engr. Ozigi has impacted positively on many peoples lives and he maintains his composure in virtually everywhere he is. He further described Engr. Ozigi as a gentle man a lot of youth still look up to and need to emulate his character and integrity.
In his remarks the President of the Nigerian Society of Engineers (NSE), Engr. Tasiu Gidari Saad-Wudil, FNSE stated that the celebrant was a lecturer at ATBU Bauchi in the 80s (when he was a student) and was noted for hard work and strictness.
He added that he was therefore not surprised that his children are doing excellently well in their academics. He further stated that as the Chief Examiner for the recruitment of new members into NSE Maitama chapter, he was very delighted to find out that the celebrant is a member of the chapter.
Maitama chapter has maintained a very good record in the recruitment of members without compromising experience and performance required for membership. Engr. Ozigi as an examiner contributed immensely to the enviable record of the branch in that regard. Engr. Wudil concluded by praying that may God Almighty reward the celebrant abundantly for the positive virtues he has impacted on the lives of some of his former students.
Pastor Joseph Seyi Malomo, Chaplain of the Aso Chapel gave Charge
titled ” God does not believe in RETIREMENT but in Completion of Life Call” drawing his texts from Exodus 7:7; Deuteronomy 34:7 and 2 Timothy 1:9. He remarked as follows:  We gather to celebrate Engr Ozigi who has had a successful 35 years career as a civil servant; We should however, note that God does not believe in retirement amongst others.
Patoma Admin by — June 1, 2022 in Industry, Trade & Investment 0
NUP vows to vote only pension friendly candidates

By Favour Nnabugwu

 

The Nigeria Union of Pensioners, NUP, has vowed to massively mobilise votes for any candidates that are pensioners friendly ahead of the 2023 elections.

The Senior Citizens explained that having such persons in power would guarantee a sense of belonging, respect and improved welfare for its members.

This is as the pensioners’ union has commended the Pensions Transition Arrangement Directorate (PTAD) for embarking on result oriented actions that are easing many challenges faced by pensioners in accessing their pensions.

President of NUP, Comrade Godwin Abumisi, who spoke to newsmen on Wednesday in Abuja, said pensioners were keenly and curiously watching the political space and the ongoing aggressive campaigns being embarked upon by the various candidates vying for different positions under different political parties.

He said: “Certainly the pensioners shall pitch their tent with the Presidential or Gubernatorial candidates who are committed and more disposed to their cause and plight by massively casting their votes for them in order to secure their tomorrow.

“We are still watching them and for the first time in Nigeria, we are going to make sure anybody who will not be disposed favourably to Pensioners in Nigeria is going to fail in the elections. A time has come when the politicians will stop taking us for granted.”

Abumisi, who commended the PTAD for bringing succour and smiles to Nigerian pensioners through their various policies and interventions said the action has brought noticeable less agitation and outcry.

He said that PTAD could not be “held responsible for delay of monthly pensons or any related payments as misconceived by the misinformed general public.

According to him, the introduction of PTAD’s ‘”I Am Alive” application software was to routinely check the status of aliveness of pensioners and to remove death cases from the database and payroll, eliminate the rigorous physical verification exercise and most importantly, save the Federal Government billions of naira.

The NUP President however decries the “pathetic” plight and unfortunate living conditions of state pensioners, especially those in states where the governor’s are unwilling to pay their legitimate entitlements.

“With all sense of respect and responsibikity I call on the state governors as a matter of national emergency to immediately set up committee jointly with our state councils across the country to work out modalities on how state governors will liquidate all the outstanding entitlements that had accrued over the years.”

He said, “Even though I salute many state governors who are prompt in paying monthly pensions to our state pensioners, it is on record that majority of the state pensioners have not received their gratuity since retirement between five and years.

“More worrisome is that, almost all the state governors choose not to review the monthly pensions of their retirees as provided in section 173(3) and 210(3) of the 1999 Constitution as amended.

 

Patoma Admin by — June 1, 2022 in Pension 0
No regret focusing on retail insurance – MD, Mutual Benefits Ass.

By Favour Nnabugwu

 

 

Mutual Benefits Assurance has said the company had no regret focusing on retail segment of the nation’s insurance industry.

The Managing Director of the company, Mr. Femi Asenuga, made the revelation at a one-day training workshop with the theme “Winning With Retail Products,” organised by the company for members of the National Association of Insurance and Pension Correspondents (NAIPCO) in Lagos.

Asenuga said “Mutual Benefits right from inception has been at the forefront of championing the campaign of deepening insurance penetration in Nigeria with retail products.”

According to him, ‘When we started, we did not start as many of our peers did in the market, because at the time we started, the practice then was companies to align or establish relationship with the brokers because brokers, for so long, have been in control of the big ticket insurance account in the country.

“At the time Mutual Benefits started, we reckoned with the major challenge the insurance industry was having at that time, and that was identifying retail insurance penetration as strategy for differentiating ourselves from other players in the market,’’ he explained.

‘’This was made possible because we had to do a widespread of research, looking at what was absent in the market at that time, and our focus was mainly on served and the unserved segment of the market, and this led us into coming up with a whole lots of products – interesting, relevance and the rightful products aims at meeting the needs of the unserved segment of the market.
Mutual Benefits was the first insurance company in the market that introduced a product that was selling at a very low price of N50 and the product was called ‘Green Shield,’’’ he stated.

Speaking further, Mr Asenuga said, the company has made its mark in the market, ‘’no doubt and you can see this with the kind of marketing team Mutual Benefits pride itself with. Today we have the largest retail marketing team.’’

He said ‘’today Mutual Benefits is a preferred destination when you are looking for capable hands in retail insurance development and today our people are everywhere in the market being in charge of retail outlets of various insurance companies.’’

He said the training programme was one of ‘’our ways of trying to show our appreciation for your supports and for so much NAIPCO as an association has done for Mutual Benefits Assurance Group.

While soliciting the continued cooperation from the Association and sustenance of the programme, he said the training was meant for knowledge shading.

During the training, NAIPCO members were taken through various topics including Principles Of Insurance; Fundamentals Of Claim Administration; Personal Accident Insurance; Features, Benefits And Unique Claim Procedure Of Individual Savings And Protection Plan (ISPP), Mutual Term Assurance (MTA) & Mutual School Fees Guarantee Scheme; Motor Insurance; Fire And Special Perils Insurance.

In his vote of thank at the end of the programme, Executive Director, Operations, Biyi Ashiru-Mobolaji urged NAIPCO members to make conscious efforts in creating the needed awareness that will engender insurance growth in Nigeria.

“As journalists, we urge you to go out there and educate the people about the values and benefits of insurance for their individual lives and the development of the national economy. Tell people about us, what we do, and how they can benefit from our products and services,” Biyi said.

Patoma Admin by — June 1, 2022 in Insurance 0
FAAN set to automate security at Lagos, Abuja airports

By Favour Nnabugwu
The Federal Airports Authority of Nigeria, FAAN, yesterday said the agency is set to automate the security systems at Muritala Muhammed Airport, Lagos and the Nnamidi Azikiwe International Airport, Abuja.
The Managing Director of FAAN, Captain Rabiu Yadudu, stated this n Lagos when he visited Aviation and Airport Correspondents Secretariat at the Lagos airport.
According to him,  “The security cameras that will give the airports 360 degree security coverage will be installed at the two airports within the next two months”
He said : ” I was a Director of Operations in FAAN when we realized there is the need for total surveillance for the whole airport. I went to Munich, Germany by the end of 2018 or so, identified the company, they came to do need assessment twice; marking and survey. They gave us the estimate for visual and thermal infrared cameras.”
” Visuals to cover the areas for a whole day – sunrise to sunset and thermal from sunset to early morning. If a rabbit is walking within 8km radius, which is 16km diameter, they will pinpoint it. We got that camera and at the whole airport, I don’t think you will get that 16 as a diameter. The runway is 3.7km or 3.8km and we are buying about four of those cameras to cover the airfield.”
“We started procurement and the minister was very supportive. As of now, the procurement has been concluded  and Mr. President approved it last year, part payment has already been made to the manufacturer and the Chief of Staff and myself, we went to the factory to ensure that what we are buying is what we are getting”.
“We were there in November.
T”The delivery will happen within the next one or two months and then installation follows. This is fully automated; it will be spanning 360 degree.  We already knows the solutions to all the challenges we are going through, the minister knows and even Mr. President knows too”.
The FAAN MD also said that , “In the meantime, we already set up the manual patrol; the military is going around the airport facilities for improved security.”
“This automation is not just in Lagos, but it includes Abuja airport. We also bought two motorized equipment. If you have any security challenges at any airport, we will drive it there and deploy it. Inside the vehicle, we have three screens that we can use to monitor and protect the airports,” he revealed.
On the corpse found on the runway of Lagos airport two weeks ago, Captain Yadudu said,  “On that singular incident, there is still an investigation ongoing, but we can’t make any public statement until the result of the investigation is out. There are a lot of theories on it. I won’t dwell much on this until the report of the investigation is out.”
On why there has been delays in installing the security cameras, he said, “Government processes and due process, which are necessary also matters in all we do. A private airport can have a problem today and by tomorrow, it can deploy the solutions to it. We know the solutions to the problems we have, but we have to ensure that the due processes are followed for us to implement them.”
“Additional issues arise when you have to bring the equipment from abroad; there is manufacturing, shipping and others. Some things you can know , identify them and before you can ensure solution, it may take you up to a year,” he added.
Patoma Admin by — June 1, 2022 in Others 0
Mutual Benefits Assurance hammers on importance of insurance to nation’s economic development

CAPTION
L- Joseph Oladokun, General Manager/Head Technical Department; Abisola Fadairo, Snr Manager; Biyi Ashiru-Mobolaji, Executive Director Operations; Managing Director/CEO Mutual Benefits Assurance Plc, Femi Asenuga, Ellen Offor, Head Corporate Communication and Gabriel Gbadebo, Assistant General Manager during the training for NAIPCO members in Lagos
By Favour Nnabugwu
Mutual Benefit Assurance Plc has said insurance is pivotal to any economic development of a nation.
The Non-Executive Director, Mutual Benefits Assurance Plc, Ms Kadaria Ahmed at a one-day training organised by the company for the National Association of Insurance and Pension Correspondents (NAIPCO) theme:  Winning With Detail Products’ at its head office in Lagos, said insurance provides safety and security, serves as a financial first responder and as a risk mitigators.
Kadaria who spoke on ‘’The Role of Insurance in Economic Growth’’ said in ensuring financial and economic stability, insurance serves as capital protectors, instrument of social policies, capital infusers and sustainers of the supply chain.
Other roles insurance plays in ensuring economic development, mentioned by her, is to ensure infrastructure development, serves as community builders, credit facilitators as well as promote innovation.
On the part insurance has played in this country, she said insurance has impacted strongly on the nation’s economic growth in contributing to the gross domestic product (GDP) of the nation and ensuring the promotion of entrepreneurial activities.
Doubles as the Chief Executive Officer of Radio Now, Kadaria hinted that ‘’the success of an economy is tied to the availability and accessibility of insurance and its products.’’
‘’Without the guarantee of insurance, most businesses will not be able to operate, and construction projects which foster infrastructural development will not go forward, she. stated.
‘’Creativity and Innovation will be hindered as people/ businesses will not be willing to take risk, explore other areas of expansion and break from old ways of doing things,’’ she added.
She said industry report of insurance should beyond products and event but ensure people really understand the significance of insurance.
‘’Media needs to report on Insurance beyond products and industry events, but help people understand its significance not just to individuals but to society and national development.
‘’Insurance activities in the country should be encouraged through continuous sensitization of the public on the benefits of having insurance.
She said also has a lot to do to make insurance relevant. ’Reliable Policies should be formulated around risk management as this will build trust among citizens and even attract investors. The government should provide an appropriate environment that
encourages insurance business”.
Patoma Admin by — June 1, 2022 in Insurance 0
Insurance Industry Parley to promote underwriting future risks

By Favour Nnabugwu

 

 

The Chartered Insurance Institute of Nigeria’s (CIIN)has used its edition of the Insurance Industry Parley  to transit, practice and promote sustainable related risks which is the future of risks.

CIIN in collaboration with all arms of the industry and  the National Insurance Commission, Naicom also present desired to manage the global sustainable relatable risks which are environmental, social and governance (ESG) and endorsed by the regulator which they proclaimed, is crucial to attain a consolidated insurance industry effort.

Themed ‘Sustainable Insurance-Issues and Trends’, the presenter of the regulator’s perspective, the Head IT Department, National Insurance Commission (NAICOM), Mr. Abiodun Aribike, said that the insurance regulator; NAICOM is using Information Technology to drive sustainable insurance in Nigeria., and that the Commission in partnership with the Financial Sector Deeping Africa (FSD) Africa recently launched the Risk, Resilience and Regulatory Laboratory (R3Lab) in Lagos to ensure this purpose is achieved.

Aribike said that the initiative is aimed at mitigating the impact of specific challenges in the insurance regulatory environment in Nigeria and explore ways collaboration, technology and insurance supervision can build capacity and improve the regulatory effectiveness of Africa’s insurance industry. “The R3Lab offers a three-tiered approach towards building the technical capacity and skills of the regulator on innovation and sustainable insurance,” he said.

The insurance come in channel was anchored by the Head, Retail Solutions, Axa Mansard, Mrs. Rashidat Adebisi, with emphasis on the need for economy operators to start working on sustainability for the future by shifting their focus from investing in just oil revenues to gas, as gas is more sustainable. “The world is currently shifting away from oil. We need to start investing in gas which is more sustainable and greener. We need to take actions on sustainable goals as this helps the environment to be save. I urge everyone here to start and lead the sustainable goals conversations in their various companies because sustainability is key”, she charged.

Speaking on the broker’s perspective, Alhaji Saheed Egbeyemi of Hogg Robinson Nigeria Limited, noted that opportunities abound for the sector to tap into and flourish but the issues of rate cutting and unhealthy competition have to be addressed. Unhealthy acts he admitted, deflates sustainable underwriting. For the former President of the Institute of Loss Adjusters of Nigeria (ILAN), Mr. Ralph Opara, representing the loss adjusters, he said ILAN is doing a lot to ensure sustainability because the arm remains the life wire of the insurance value chain.

On her part, the Rector, College of Insurance and Financial Management (CIFM), Dr. (Mrs.)Yeside Oyetayo, said ESG risks are now a criteria to determining a company that is sustainable hence, trainings and programmes on sustainable risks need to be factored into the insurance industry academic curriculum and the industry needs to collaborate with other sectors.

The Managing Director and the chairman of the occasion, Mr. Olusegun Omosehin, urged all to embrace collaboration and innovation which he pointed to are the keys are for the industry sustainability. “Opportunities are before us as underwriters so we need to transition into green insurance so we can sustain the businesses and future of insurance in Nigeria”, he said.

The President of CIIN, Sir (Dr.) Muftau Oyegunle, earlier, said the event is a new and focused on giving back to its members and the insurance community in general. The objective he noted, “is to bring all stakeholders from the different arms of the insurance industry together, to discuss the business environment and how it affects the operations of the sector as well as charting the way forward for insurance to thrive in the country.

Optimistic that the parley would be sustained, he said the theme “is indeed very apt and strategic considering the era we are in.” He assured the attendees that the engagement and interactions of all stakeholders will be in an enlightening and forward-looking approach. He said the resource persons would identify, assess, and point to ways of managing and monitoring risks and opportunities associated with environmental, socio- economic and governance issues and how they impact the insurance industry

Patoma Admin by — June 1, 2022 in Insurance 0