Naicom, NCRIB to illuminate best practices for ensuring legacies


5th person from the left, Deputy Commissioner for Insurance, Technical, Mr Ekerete Olawoye Gam-Ikon at the NCRIB retreat in Uyo



By Favour Nnabugwu




The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin has affirmed that National Insurance Commission (NAICOM) is committed to creating an ensuring legacies.

Omosehin made the affirmation at 2024 Nigeria Council of Registered Insurance Brokers (NCRIB) CEO’s Retreat held in Uyo, Akwa Ibom State, themed “Building Institutions That Survive Their Promoters.”

Represented by the Deputy Commissioner, Mr. Ekerete Olawoye Gam-Ikon, in his goodwill message emphasised that in today’s rapidly changing world, the concept of building enduring institutions is more relevant than ever.

He further said, “Institutions that outlive their founders represent sustainability, resilience, and continuous excellence, becoming pillars of strength for our communities and guiding us through times of change and uncertainty.

He further noted that at NAICOM, there is a deep commitment to creating lasting legacies. This commitment is built on robust governance, innovation, and an unwavering dedication to ethical practices. These principles not only ensure the longevity of institutions but also foster trust and confidence among stakeholders.

He highlighted the crucial role insurance brokers’ play in this endeavour. As intermediaries who facilitate critical financial protection, brokers are instrumental in promoting stability and security whose efforts contribute to a safer and more predictable environment for businesses and individuals alike. 

He expressed confidence that the discussions and insights shared during the retreat would illuminate strategies and best practices to ensure that the institutions built today will thrive for generations to come.

In conclusion, he urged everyone present to use the opportunity to collaborate, learn from each other, and reinforce the insurance industry’s collective mission to create sustainable futures.

Universal, Guinea, Norrenberger group to sponsor NAIPE AGM*

By Favour Nnabugwu
Universal Insurance Plc, Guinea Insurance Plc and Norrenberger Group are set to sponsor the 2023/2024 Annual General Meeting (AGM) of the Nigerian Association of Insurance and Pension Editors (NAIPE).
 This year’s NAIPE AGM will take place in Lagos at the Nigerian Insurers Association (NIA) House in Victoria Island, Lagos, on July 9, 2024
NAIPE is the umbrella body for journalists covering insurance and pension sectors in Nigeria.
NAIPE holds its AGM in July every year and companies that sponsor the AGM have the unique opportunity to market their products and services to NAIPE members in the course of the event who will in-turn push out the information to the general public through publication of stories and analysis in their mediums and platforms.
 Universal Insurance Plc is one of the nation’s largest personal lines insurer with over N8 billion in assets.
Universal Insurance offers a broad spectrum of insurance products for all types of businesses, corporate and individuals with unique services delivery.
Some of its extensive products include Auto Insurance, Good In Transit, Property Insurance, Marine Insurance, Bond Insurance, Money Insurance, All Risk Insurance, Boilers & Pressure Vessels Insurance, Builders’ Liability Insurance, Burglary & House Breaking Insurance, Contractors All Risks Insurance, Employer’s Liability Insurance, Erection All Risks Insurance, Fidelity Guarantee Insurance, Fire & Special Peril, and Oil & Gas Insurance, etc.
 According to Universal Insurance, “Our vision is to be a dominant, specialised non life insurer in Nigeria, creating and delivering value to stakeholders while our mission is to offer specialised non life insurance protection to clients inspired by innovation, efficiency and prompt claims settlement.”
The Company is known for prompt claims settlement, integrity, satisfaction through professionalism, unity of purpose, reliability, as well as excellent teamwork.
Guinea Insurance Company Limited was incorporated on December 3, 1958, as a non-life insurance underwriting firm to provide first-rate insurance solutions in the General Business category.
Guinea Insurance has always lived up to its name; consistently one step ahead of the industry in the provision of better and affordable risk management solutions.
“We are a major player in the provision of first* -rate financial risk solutions in the General and Special Risks business underwriting categories. We have established a reputation for exceptional competence in the delivery of customer-centric services and product innovation,”  the company stated.
With a strong capital base, highly qualified professionals, and modern technology, Guinea Insurance became widely acknowledged for speed and efficiency and thus, remained the preferred insurer for individual and corporate clientele seeking premium insurance and related financial services to date.
The Company offers First Class Products which are tailored to meet the numerous needs of its clients, both as individuals and corporate organisations,  providing cover options that are rich and robust enough to accommodate virtually all eventualities.
Some of the products are Home Shield Insurance, Fire and Special Peril Insurance, Motor Insurance, Burglary/Theft Insurance, All Risk Insurance, Workmen’s Compensation Insurance, Personal Accident/Group Personal Accident Insurance, Public Liability Insurance, Bonds Insurance, Contractors All Risk Insurance, Erection All Risk Insurance, Marine Cargo Insurance, Fidelity Guaranty, and Oil & Gas Insurance, etc.
Norrenberger Group is a leading, integrated financial services group that provides bespoke financial solutions that add value to its individual and institutional clients.
The Group’s culture is built on the fundamental values that they all hold. Every Norrenberger team member embraces these values and lives by them, not just at work, but in life.
At Norrenberger, they unlock opportunities in society by providing cutting edge investment options and access to alternative financing which in turn allows people to bring their innovative ideas to life and expand their existing businesses.
The Group’s focus is to continue to create financial asset classes targeting the need of every single household in Nigeria. By 2025, they hope to have delivered at least one financial solution to every household.
The Group covers the following business areas amongst others, Asset Management, Investment Banking, Pensions, Securities Trading and Insurance.
NAICOM’s CFI visits Inspector General of Police on compulsory insurance

Commissioner for Insurance/ the Chief Executive Officer of National Insurance Commission, Naicom, Mr Olusegun Omosehin paid a visit to the Inspector General of the Nigerian Police Force, Kayode Adeolu Egbetokun in Abuja on better enforcement of compulsory insurance
By Favour Nnabugwu
National Insurance Commission, Naicom led by the Commissioner for Insurance, Mr Olusegun Omosehin paid a visit to the Inspector to the Inspector General of Police, Kayode Adeolu Egbetokun to align IG with the mandate of Naicom and the news to support the industry compulsory insurance.
The purpose of the visit was to seek an audience with the IGP and the management of the Nigerian Police Force (NPF), who are critical stakeholders aligned with NAICOM’s vision, to achieve its mandate, particularly in the area of compulsory insurance enforcement.
During the visit, the Commissioner for Insurance requested collaboration to advance the Nigerian insurance sector roadmap.
He emphasised that it is unlawful for individuals to drive on the road without valid motor insurance (3rd party), he noted that less than a quarter of the vehicles have valid motor insurance.
The CFI stated that the visit aimed to seek NPF’s collaboration to ensure the enforcement of compulsory 3rd party motor insurance, as mandated by law.
The CFI also highlighted that in 2023, the ECOWAS Brown card has been captured in the upgraded premium for 3rd party motor insurance cover by NAICOM, allowing insured vehicles to travel across the West African sub-region.
Additionally, he noted that the benefits attached to the 3rd party insurance had been increased to N3 million.
To further this initiative, the CFI underscored the need for digitisation platforms to authenticate the validity of vehicle insurance.
He mentioned that this system is already being implemented by the Lagos State government.
The CFI requested the establishment of a team to collaborate with the Commission in conducting enforcement actions, asserting that the success of this initiative would be a significant achievement for Nigeria.
In response, the IGP assured the CFI of the Nigerian Police Force’s full support in enforcing compulsory 3rd party insurance.
He announced that a team, headed by the DIG Operations, would be set up to oversee the enforcement of compulsory insurance.
DG NiMet inaugurates committee to review Agency’s condition of service

By Favour Nnabugwu



The Director General of the Nigerian Meteorological Agency (NiMet), Professor Charles Anosike has on Friday, inaugurated a Committee to review the Agency’s Condition of Service (CoS).

In his speech, the Director, Weather Forecasting Services , Professor Vincent Weli who represented the DG/CEO observed that the review has become as the last one done over five years ago is no longer in tune with current realities.

Professor Charles Anosike who described the task as significant noted that it is an opportunity for the committee, “to come up with a Condition of Service that not only meets the present needs but anticipates future challenges and opportunities”.

Speaking further, Professor Anosike tasked the Committee to consult widely, within and outside the Aviation sector and identify benchmarks of best practice as this will not only improve NiMet’s operational efficiency but enhance the welfare of staff.

The Committee has a month to submit a draft copy to the Management for consideration.

EFCC recovers N156bn, secures 3,175 convictions in a year

By Favour Nnabugwu



The executive chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has secured 3,175 convictions and recovered N156, 276,691,242.30 between May 29, 2023 when President Bola Tinubu assumed office and May 29, 2024.

He made this known in Abuja on Wednesday at the launch of Zero Tolerance Club at the University Abuja (UniAbuja), Gwagwalada campus, Abuja.

EFCC spokesperson, Dele Oyewale, in a statement on Wednesday night, said Olukoyede, who spoke through the secretary to the commission, Mohammed Hammajoda, said the EFCC also recovered $43,835,214.24, £25,365.00, €186,947.10, ₹51,360.00, C$3,750.00, A$740.00, ¥74,754.00, R35,000.00, 42,390.00 UAE Dirhams, 247.00 Riyals and 21,580, 867631 Crypto Currency.

Speaking further, the chairman stated that, though the EFCC put up impressive performance within the year, involvement of youths in internet fraud continued to pose serious concerns to every stakeholder in the anti-graft war.

“In spite of this commendable performance, the commission is deeply worried about the increasing involvement of young people, including students, in cybercrime, popularly called yahoo yahoo. Hundreds of suspects are arrested monthly, with many of them ending up in jail,” he said.

He called on students of the university to stay away from internet fraud, stressing that conviction for fraud “is a burden that will leave a life-long scar on the fortunes of these youths.”

He further stated that there was no justification for cybercrime anywhere.

“There is no justification that will make yahoo yahoo acceptable. Contrary to the impression in some quarters, being a fraudster is not synonymous with creativity or being smart. As students, you are expected to channel your creative energies into useful engagements and not get entangled in cheating others of their resources,” he stated.

Nigerians living in Nigeria and diaspora can now earn US Dollars legitimately, you can earn as much as $17,000(25millon naira)

WIGOS, NMHSs to build observing capabilities…NiMet DG/CEO Prof. Anosike


L- Abubakr Salih Babiker, Technical Coordinator for Infrastructure, WMO Regional Office for Africa, Addis Ababa, Mr Bernard Gomez, WMO Representative for North Central and West Africa, Professor Charles Anosike, Director General and Chief Executive Officer of the Nigerian Meteorological Agency (NiMet)/Nigeria’s Permanent Representative with the World Meteorological Organization (WMO), Luis Nunes, WIGOS Scientific Officer (WMO),and Tchinda Tazo Simplice,



By Favour Nnabugwu



The Director General and Chief Executive Officer of the Nigerian Meteorological Agency (NiMet), and Nigeria’s Permanent Representative with the World Meteorological Organization (WMO), Professor Charles Anosike has
said that through the WMO Integrated Global Observing System (WIGOS), National Meteorological and Hydrological Services (NMHSs) such as NiMet will be able to build observing capabilities.

This he said will enable the duo to achieve better data coverage at national, regional, and global level, improve economic efficiency and close existing data gaps.

Professor Anosike was speaking in Abuja on Tuesday, 28th May, 2024, while welcoming participants to the four-day training workshop for Regional WIGOS Centres in WMO Regional Association ( RA 1 – West Central Africa).

The workshop which aims at equipping participants with sufficient skills to use the WIGOS tools particularly for Regional Wigos Centres (RWC) functions, make them be aware and better understand their responsibilities related to RWIC functions.

Professor Anosike noted that the North, Central and West Africa region is facing challenges associated with diverse climatic conditions and the socio-economic impacts of weather extremes. “We are vulnerable to droughts, floods and other weather and climate-related natural disasters that can have devastating effects on our economies. Therefore, strengthening meteorological infrastructure and human capacity has become a top priority”, he said.

Professor Anosike commended the WMO Regional Office for North, Central and West Africa for its continued support for capacity development in Africa, and the opportunities available to NMHSs in the region.

The workshop which drew participants from across Africa including Mr Bernard Gomez, the WMO Representative for North Central and West Africa, ends on Friday, 31st May, 2024.

Prudential Zenith Life Insurance supports brokers professional growth, personal health

By Favour Nnabugwu
 Prudential Zenith Life Insurance, a leading life insurance company organized a training and health talk thereby helping to brokers boost brokers’ professional growth and personal health.
The training, which featured a robust agenda, blending technical training with insightful health discussions held at Ikoyi, sought to enhance brokers’ expertise in insurance products, compliance and regulatory frameworks, and promoting overall well-being.
It covered various aspects of Prudential Zenith Life’s insurance product offerings, customer service excellence, and the brokers’ incentive scheme to equip brokers with advanced knowledge and skills to serve clients better and provide optimal solutions tailored to individual needs.
The health talk underscored Prudential Zenith Life’s commitment to holistic well-being, which reflects the company’s understanding that a healthy lifestyle is integral to personal and professional success.
Renowned health expert Dr Lucia Okogwu spoke on the Human Papilloma Virus (HPV), while Head of Corporate Sales – Ifeoma Oragwu stated, emphasized that Prudential Zenith Life believes in empowering brokers with the necessary tools and knowledge to excel in their roles.
“This training and health talk is part of our ongoing efforts to support their professional growth and personal health. A well-informed and healthy broker is better positioned to provide exceptional service to our clients,” she said.
Brokers expressed enthusiasm and appreciated the valuable insights and practical tips shared and gained during the training.
About Prudential Zenith
Prudential Zenith Life Insurance Ltd (PZL) is a subsidiary of Prudential Plc., established in 2017 when Prudential Plc acquired a 51% holding in Zenith Life Insurance.  Prudential plc provides life and health insurance and asset management in 23 markets across Asia and Africa (at 31 December 2022). The business helps people get the most out of life, by making healthcare affordable and accessible and by promoting financial inclusion.
Prudential protects people’s wealth, helps them grow their assets, and empowers them to save for their goals. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme.
Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.
PZL is one of the most capitalized companies in the Nigerian insurance industry with a wide range of individual products including savings & investments-linked products, endowment, and protection products designed to meet the needs of individuals and their families. For corporate clients, the company’s product offerings include Group Life, Key-Man Assurance, Credit Life, School Fees Protection, and Mortgage Protection, ensuring that the welfare of clients’ staff and families are met.
Eddie Efekoha grabs Insurance CEO of the Year @ Champion N/Papers

L- Deputy Governor of Borno state, Umar Usman Kadafur, presenting the Insurance CEO of the Year 2023 Award to Eddie A. Efekoha, Group CEO Consolidated Hallmark Holdings Plc at the Champion Newspapers Award Event held over the weekend at Eko Hotels in Lagos
By Favour Nnabugwu
Mr Eddie Efekoha, the Group Managing Director Consolidated Hallmark Holdings takes the shine at Champion Newspapers 2023Insurance Chief Executive Officer of the Year award
Efekoha, a prolific insurer, energized the audience about the essence of insurance
According to him, “It would take the transfer of insurable risks to competent insurance companies for businesses and individual to be free to embark on their normal activities considering that insurance companies will always come to their aids in the event of any unforeseen occurrences.
Besides, he said, that it is the power and cover of protection offered by insurance companies that encourages other sectors of the economy to be adventurous since they know that there is something like insurance to provide some form of compensation should anything go wrong.
It will be recalled that Consolidated Hallmark Insurance Limited won the 2023 Insurance Company of the Year Award at the event which also saw Eddie Efekoha emerging top among insurance chief executive officers. Efekoha was the Group Managing Director of Consolidated Hallmark Insurance Company as at 2023 which was the year of the award ranking.
He is the immediate past Group Managing Director & Chief Executive Officer of the then Consolidated Hallmark Insurance Plc, now Limited, a position he occupied between 2007 to 2023.
He provided the requisite leadership which culminated in the emergence of Consolidated Hallmark Holdings Plc, a non-operating Holdco with focus on holding portfolios of strategic investments and currently have the following member companies as subsidiaries; Consolidated Hallmark Insurance Limited, a General Business Insurance Company, CHI Microinsurance Limited, a Life Microinsurance Company, Hallmark Finance Company Limited, a Finance Company providing loans and finance to individuals, retails, SMEs and Corporates and Hallmark Health Services Limited, a Health Maintenance Organization (HMO). He is the Chairman of the Board of these thriving subsidiaries.
Efekoha was the 49th President & Chairman of the Governing Council of the Chartered Insurance Institute of Nigeria (2018-2020) and the 22nd Chairman of the Nigerian Insurers’ Association (2016-2018), the umbrella body of all licensed and operating insurance companies in Nigeria. In recognition of his industry leadership and skills, the National Insurance Commission made him the Chairman of the Technical Sub -Committee of the Insurers’ Committee.
He is the current President of the West African Insurance Companies Association (WAICA), while at the continental level, he is the Chairman of the Book Review Committee of the African Insurance Organization
At the early stage of his career, Eddie worked with leading insurance brokerage and underwriting firms including but not limited to Hogg Robinson Nigeria, Glanvill Enthoven Nigeria Limited, Fountain Insurance Brokers Limited and Consolidated Risk Insurers Plc from 1985 to 2007 during which he held senior executive positions.
Also, Consolidated Hallmark Insurance won Insurance Company of the year award
On its part, Consolidated Hallmark Insurance (CHI) Limited is a leading General Business and Special Risks Insurance company in Nigeria. The company’s shares were earlier listed on the trading floor of the then Nigerian Stock Exchange NSE, now Nigerian Exchange Group Limited (NGX) on 22nd February, 2008. Following the emergence of a Holding Company structure, the shares were delisted in November, 2023 and replaced with those of Consolidated Hallmark Holdings Plc. Consequently, the company is now one of the subsidiaries of Consolidated Hallmark Holding Plc.
Consolidated Hallmark Insurance has been in operation for over 20 years, having been incorporated on 2nd August, 1991 as a private limited liability company and commenced operations in 1992. It was converted to a public limited company in July, 2005 and in 2007 changed its name from Consolidated Risks Insurers Plc to Consolidated Hallmark Insurance Plc.
The company has become one of the top General Business and Special Risks Insurance underwriters in Nigeria today, earning a reputation over the years through effective leadership in the underwriting of Aviation, Oils and Gas, Marine Cargo and Hull Business and other non-life insurance underwriting including Motor Vehicles, Fire and Special Perils, Goods-In-Transit, Engineering Insurance, amongst others.
With a formidable team of highly experienced and committed professionals, the company has provided industry leadership at the top echelon of the Nigerian Insurers Association (NIA), the Chartered Insurance Institute of Nigeria (CIIN) and the West African Insurance Companies Association (WAICA).
The processes at Consolidated Hallmark Insurance are in line with international best practice, as certified by the International Standard Organisation with the ISO 9001:2015 Quality Management Systems, the second insurance company in Nigeria to be so certified. We have a Stable Outlook Rating (ANG) in 2023 from GCR Ratings, an affiliate of Moody’s Investors Service and are reknowed for being consistent with our financial obligations including prompt claims and dividends payments.
AM Best sponsors 50th AIO in Namibia

By Favour Nnabugwu



AM Best will sponsor and attend the 50th African Insurance Organisation (AIO) Conference and Annual General Assembly, to be held 1-5 June 2024 in Windhoek, Namibia.

Nick Charteris-Black, managing director, market development, Europe, Middle East and Africa, AM Best, along with Dr Edem Kuenyehia, director, market development and communications, and in his capacity as AM Best’s director for market development in Africa, will be in attendance and will be conducting scheduled bilateral meetings with industry stakeholders during the conference to discuss Best’s Credit Ratings and Best’s Performance Assessments for Delegated Underwriting Authority Enterprises (DUAE), along with other insurance sector reports, data and analytic resources available to insurance professionals. To schedule a meeting with the AM Best delegation, please email

AM Best is a sponsor of the event, which is themed as “Coping With Rising Natural Catastrophes Across Africa.” Topics during the programme center on the implications of increased catastrophic events across the continent and insurance’s role in building resilience and mitigating related losses. Discussions will include how natural catastrophes compound Africa’s insurance penetration dilemma, a rethink on catastrophe modeling and integrating technologies, as well as life insurance in the face of climate risks and others.

The AIO, established in 1972, is a non-governmental organisation recognised by many African governments. It was established to help develop a healthy insurance industry and to foster insurance co-operation in Africa. For more information about the AIO conference, which will be held at Mercure Hotel, please visit the event overview.

NiMet partners TVC on weather, climate information dissemination


L – Professor Charles Anosike, the Director-General and Chief Executive Officer of NiMet, and Victoria Ajayi, the Chief Executive Officer (CEO) of TVC, at the signing of MOU between NiMet and TVC on weather and climate information dissemination, at NiMet headquarters, Abuja, on Friday, 17th May, 2024.



By Favour Nnabugwu




The Nigerian Meteorological Agency (NiMet), is partnering leading broadcast media organization – TV Continental (TVC), in the dissemination of weather and climate information.

Speaking at the signing of a memorandum of understanding (MOU) between NiMet and TVC at NiMet’s headquarters in Abuja on Friday, 17th May, 2024, the Director-General and Chief Executive Officer of NiMet, Professor Charles Anosike, described the MOU signing between the two organizations as one that is worth celebrating because of the potential benefits to the public and the Nigerian economy.

“Accurate weather and climate information shared with members of the public, and operators in sectors such as aviation, agriculture, marine, oil and gas, construction etc, using various media channels such as TVC helps the public and critical stakeholders in making climate -resilient decisions”.

Continuing, Professor Anosike said that some people misunderstand the mandate of NiMet hence the need to partner with TVC and other media organizations to communicate climate and weather information timely.

According to Prof Anosike; “NiMet does not only do weather forecasting. We also communicate the impact of the forecasts to farmers and other stakeholders. The MOU with TVC will help us to reach wider audiences through our daily weather forecasts and other climate and weather -related content”.

Concluding, Professor Anosike said; “The partnership with TVC is coming at the right time as we are about to launch our new generation TV weather broadcast graphics alongside other content. Presently, NiMet is disseminating the report of the 2024 seasonal climate prediction (SCP) to farmers and other stakeholders nationwide. We need TVC and other media organizations to help broadcast these to the public”.

On her part, Victoria Ajayi, the Chief Executive Officer (CEO) of TVC thanked the DG/CEO of NiMet for the warm reception accorded her team. “It is an honour to be partnering NiMet in providing broadcast services that will impact positively on the lives of Nigerians and sectoral players including farmers. A lot is happening at NiMet under the leadership of Prof. Charles Anosike and we are happy to be part of that change. TVC will support NiMet to communicate widely its activities. We assure NiMet of our support and want people to always see TVC as that media organization where they can get first-hand information on weather and climate information”.

Present at the MOU signing were NiMet’s Directors; Prof. Vincent Weli (Weather Forecast Services), Barr. Shola Gabriel (Legal Services), Dr. Nasiru Sani (Human Resources and Administration), Mrs Glory Onyegbule (Applied Meteorological Services), Technical Assistants, Haruna Zakari, and Oluwaseun Idowu. Also, TVC staff members; Babajide Kolade-Otitoju (Group Controller, Current and Public Affairs), Stella Din (Director News), and Emeka Chukwuma (Head Commercial).