“Soaring” Prisca Gbemisola Soares marks 70years in grand style

By Tope Adaramola

Ordinarily, one would not find it easy matching her ageless look with the reality of her joining the septuagenarians. Ms. Prisca Gbemisola Soares is by all standards one of the most iconic personalities the Nigerian Insurance industry is proud to have produced. In a clime where the voice of the female folk is struggling to resonate in high quarters, Ms. Soares carved a niche for herself as a chartered insurance practitioner, administrator, and professional diplomat.

It is a twist of fate that after her university education at the prestigious University of Ibadan where she studied French and German Studies (combined Hons) for her first degree, Prisca had harbored the thoughts of being employed in the foreign service where she felt she was most educationally suited. But she had a deep dislike for interpretation which she would have had to do if she was employed in the diplomatic circle, hence she turned the searchlight for a future career elsewhere.

As fate would have it, she was informed that a company called Nicon Insurance Corporation was recruiting graduate trainees and she was impelled to give it a shot, after consulting with one of her lecturers who gave her the needed encouragement to apply.

She eventually went for the interview and got the job. To all intents, working in an insurance institution did not really offer the best of attraction for any young person in those days, but little did the young Prisca knew that she was at the threshold of a career that would give her fame, glitz and continental acclaim and fulfillment.

Suffice it to note that Nicon Insurance Corporation at the time was one of the flagship commercial enterprises of government with huge power, resources and prospects. Aside from being the government’s insurer, Nicon was a potent institution and contributor to the nation’s fledgling economy under which hands entities such as the luxuriant Nicon Noga Hilton, Abuja- pride in the hospitality industry- was berth.

Record has it that the hotel was singlehandedly built by the company without any financial succor from the federal government or any of its institutions. Being one of the earliest insurance companies, Nicon was a solid breeding ground for a huge chunk of the insurance industry’s human resources as many of the frontline egg heads of the insurance industry have their progeny in the defunct company.

It is most auspicious that Ms Soares rose meteorically through the ranks of the company, wadding through all prejudices against a female professional to become the Managing Director of the company after about thirty years of employment. She remarked at a public forum that Nicon was a place to work because there you are given the grooming you require, not only in the professions but also in corporate leadership.

Rising to become the MD of the company was not a ready cookie. She went through the rigorous selection process put in place for the chubby position and worsted all other competitors. During her stay as MD of the company, the strength and comradeship within the staffers was strengthened, despite the threatening environment that the company was then operating. It was a period when the ownership of the company regretfully slipped into private hands, marking a turning point that many of the staff, insurance operators and other stakeholders have continued to rue to date.

Since a good professional is like a golden fish, it was not surprising that Ms Soares landed an international job after the headship of Nicon as the Secretary-General of the African Insurance Organisation (AIO), She was first lady to occupy such insurance continental organization. Her deft leadership, excellent social skills and gift of language as a polyglot gave her the leeway required to navigate through the surging challenges she was confronted with at the organization, which is headquartered in Douala, Cameroon.

She was able to combat the financial challenges initially facing the AIO as well as made it attractive, value-wise, by actuating the organisation’s training, potentials and by so doing broadening its relevance in the continent. She bowed out of the organization with her head high, a situation which she said was prodded by the statement by a member who had told her on hearing news of her appointment that he was not going to congratulate her until the end of her tenure. Her rich testimonial of leadership no doubt informed the conferment of a prestigious award of service on her during the AIO Conference, recently held in Nigeria.

Although it is often not the case to have successfully combined with humility, the case of Ms Soares is different. She has remained humble, down to earth and ever business-like. These unassailable qualities are no doubt infused into her from her rich catholic background which she relishes greatly and put devoted service to. As a mark of her commitment, Soares served as President of Catholic Women Organisation of the Holy Cross Cathedral from 2006 to 2009 and she was conferred with the Papal Award in 2009 by His Holiness Pope Benedict XVI.

Like the oak tree, the life of Ms Soares has been a great source of support and inspiration to her world, whether in the professions, family and religious circles. Little wonder, hordes of family members, associates and well-wishers congregated in Lagos to celebrate this woman of value on her modest 70th birthday.

Amongst the lethargy of felicitations was that of the current President of the AIO, Mr Tope Smart. According to him, “Ms. Soares’ life has been a great blessing to the Nigerian, as well as the African continent’s insurance industry. As a thoroughbred professional she was able to change the narrative of the AIO. She is indeed a gift to our world”. May more of her tribe continue to increase in our world, even as we all wish her a smoother ride on the ladder of the septuagenarians. Congratulations!

Tope Adaramola is
Executive Secretary of
The Nigerian Council of Registered Insurance Brokers

NCRIB two staff released as Council rejoices

By Favour Nnabugwu

 

The President, Nigerian Council of Registered Insurance Brokers (NCRIB) Bar. Rotimi Edu, has expressed utmost gratitude to Almighty God for released of the two kidnapped staff of the Council, namely Sola Olawuyi and Bude Adeola.

According to him, they were released yesterday night.

“I must on behalf of the Council express profound appreciation to all our Past Presidents, Elders and all members for their concern through intense prayer intercessions and timely counsel.

“The scenario speaks into the precarious state we are at the moment, requiring that we all live circumspectfully. May God grant us and the Council peace on all fronts.
I appreciate you all,” he said.

The staff members were taken hostage in the early hours of Sunday alongside another victim, in Isara axis of Lagos-Ibadan expressway end of Ogun State.

The suspected kidnappers, dressed in military camouflage and numbering four, allegedly seized the victims said to be on their way back to Lagos from Ibadan, when the car in which they were travelling broke down at about 6.45a.m.

The Executive Secretary, said the gunmen emerged from the bush and marched them into the bush and the kidnappers had contacted the management demanding N20 million each for the victims to regain freedom.

Adaramola said the kidnappers used the mobile phone of one of the victims to demand the ransom, adding that the management had equally reported the incident at the Divisional Police Headquarters in Isara.

He said a similar report was made by the management of the company to Ogun State Police Headquarters.

Abimbola Oyeyemi, spokesperson of the Ogun State Police Command has also confirmed the incident.

He said the Special Anti-Kidnapping Unit of the State was already tracking the kidnappers and making efforts to rescue the victims unhurt

Cyber perils outrank Covid-19, broken supply chains as top Nigerian business risk

 

By admin

 

Cyber perils are the biggest concern for companies in Nigeria, Africa and Middle East, South Africa and worldwide in 2022, according to the Allianz Risk Barometer.

The threat of ransomware attacks, data breaches or major IT outages worries companies even more than business and supply chain disruption, natural disasters or the Covid-19 pandemic, all of which have heavily affected firms in the past year.

Globally, cyber incidents tops the Allianz Risk Barometer for only the second time in the survey’s history (44% of responses), Business interruption drops to a close second (42%) and Natural catastrophes ranks third (25%), up from sixth in 2021. Climate change climbs to its highest-ever ranking of sixth (17%, up from ninth), while Pandemic outbreak drops to fourth (22%). The annual survey from Allianz Global Corporate & Specialty (AGCS) incorporates the views of 2,650 experts in 89 countries and territories, including CEOs, risk managers, brokers and insurance experts. View the full global and country risk rankingsWatch the video

“’Business interrupted’ will likely remain the key underlying risk theme in 2022,” AGCS CEO Joachim Mueller summarizes. “For most companies the biggest fear is not being able to produce their products or deliver their services. 2021 saw unprecedented levels of disruption, caused by various triggers. Crippling cyber-attacks, the supply chain impact from many climate change-related weather events, as well as pandemic-related manufacturing problems and transport bottlenecks wreaked havoc. This year only promises a gradual easing of the situation, although further Covid-19-related problems cannot be ruled out. Building resilience against the many causes of business interruption is increasingly becoming a competitive advantage for companies.” 

Violence, changes in legislation and regulation rising concerns in Nigeria

Political risks and violence and changes in legislation and regulation are rising concerns for businesses in Nigeria. Political risks and violence moved from fifth to second following #EndSars in 2020. Changes in legislation and regulation moves up four places to fourth in the country.

“Fortunately, large scale terrorism events have declined drastically in the last five years. However, the number, scale and duration of riots and protests in the last two years is staggering and we have seen businesses suffering significant losses,” says Bjoern Reusswig, Head of Global Political Violence and Hostile Environment Solutions at AGCS. “Civil unrest has soared, driven by protests on issues ranging from economic hardship to police brutality which have affected citizens around the world. And the impact of the Covid-19 pandemic is making things worse – with little sign of an end to the economic downturn in sight, the number of protests is likely to continue climbing.” 

“Preparation is key – in particular for exposed sectors such as retail,” explains Thusang Mahlangu AGCS Africa CEO. “Businesses need to review their business continuity plans (BCP) and should be aware of what is happening around them. Typically, these only focus on national catastrophes, but there is a need for BCP plans to address political disturbances and other types of business disruption like cyber. Having defined, and preferably tested, procedures in place is crucial – these should include staff, client and general communication and social media plans. It is imperative for companies to think deeply about how they can best protect their assets and people.”

Ransomware drives cyber concerns while awareness of BI vulnerabilities grows

Cyber incidents ranks as a top three peril in most countries and regions surveyed including Nigeria, South Africa as well as Africa and Middle East. The main driver is the recent surge in ransomware attacks, which are confirmed as the top cyber threat for the year ahead by survey respondents (57%). Recent attacks have shown worrying trends such as ‘double extortion’ tactics combining the encryption of systems with data breaches; exploiting software vulnerabilities which potentially affect thousands of companies (for example, Log4JKaseya) or targeting physical critical infrastructure (the Colonial pipeline in the US). Cyber security also ranks as companies’ major environmental, social and governance (ESG) concern with respondents acknowledging the need to build resilience and plan for future outages or face the growing consequences from regulators, investors and other stakeholders.

“Ransomware has become a big business for cyber criminals, who are refining their tactics, lowering the barriers to entry for as little as a $40 subscription and little technological knowledge. The commercialization of cyber crime makes it easier to exploit vulnerabilities on a massive scale. We will see more attacks against technology supply chains and critical infrastructure,” explains Scott Sayce, Global Head of Cyber at AGCS. 

Business interruption (BI) ranks as the second most concerning risk globally and in Africa and Middle East and South Africa but moves down two places to sixth in Nigeria. However, it ranked first in Ghana, Kenya, Morocco and Namibia. In a year marked by widespread disruption, the extent of vulnerabilities in modern supply chains and production networks is more obvious than ever.

According to the survey, the most feared cause of BI is cyber incidents, reflecting the rise in ransomware attacks but also the impact of companies’ growing reliance on digitalization and the shift to remote working. Natural catastrophes and pandemic are the two other important triggers for BI in the view of respondents.

In the past year post-lockdown surges in demand have combined with disruption to production and logistics, as Covid-19 outbreaks in Asia closed factories and caused record congestion levels in container shipping ports. Pandemic-related delays compounded other supply chain issues, such as the Suez Canal blockage or the global shortage of semiconductors after plant closures in Taiwan, Japan and Texas from weather events and fires.

“The pandemic has exposed the extent of interconnectivity in modern supply chains and how multiple unrelated events can come together to create widespread disruption. For the first time the resilience of supply chains has been tested to breaking point on a global scale,” says Philip Beblo, Property Industry Lead, Technology, Media and Telecoms, at AGCS.

According to the recent Euler Hermes Global Trade Report, the Covid-19 pandemic will likely drive high levels of supply chain disruption into the second half of 2022, although mismatches in global demand and supply and container shipping capacity are eventually predicted to ease, assuming no further unexpected developments.

Awareness of BI risks is becoming an important strategic issue across entire companies. “There is a growing willingness among top management to bring more transparency to supply chains with organizations investing in tools and working with data to better understand the risks and create inventories, redundancies and contingency plans for business continuity,” says Maarten van der Zwaag, Global Head of Property Risk Consulting at AGCS.

Pandemic preparations improve. Next up – making businesses more weatherproof

Pandemic outbreak remains a major concern for companies but drops from second to fourth position globally and from first to ninth in Nigeria (although the survey predated the emergence of the Omicron variant). However, the risk moved up from fourth to third in Ghana, which shows that companies are still concerned about the peril. 

While the Covid-19 crisis continues to overshadow the economic outlook in many industries, encouragingly, businesses do feel they have adapted well. The majority of respondents (80%) think they are adequately or well-prepared for a future incident. Improving business continuity management is the main action companies are taking to make them more resilient.

The rise of Natural catastrophes and Climate change to third and sixth position globally respectively is telling, with both upwards trends closely related. Recent years have shown the frequency and severity of weather events are increasing due to global warming. For 2021, global insured catastrophe losses were well in excess of $100bn – the fourth highest year on record. Hurricane Ida in the US may have been the costliest event, but more than half of the losses came from so-called secondary perils such as floods, heavy rain, thunderstorms, tornados and even winter freezes, which can often be local but increasingly costly events. Examples included Winter Storm Uri in Texas, the low-pressure weather system Bernd, which triggered catastrophic flooding in Germany and Benelux countries, the heavy flooding in Zhengzhou, China, and heatwaves and bushfires in Canada and California.

Allianz Risk Barometer respondents are most concerned about climate-change related weather events causing damage to corporate property (57%), followed by BI and supply chain impact (41%). However, they are also worried about managing the transition of their businesses to a low-carbon economy (36%), fulfilling complex regulation and reporting requirements and avoiding potential litigation risks for not adequately taking action to address climate change (34%).

“The pressure on businesses to act on climate change has increased noticeably over the past year, with a growing focus on net-zero contributions,” observes Line Hestvik, Chief Sustainability Officer at Allianz SE. “There is a clear trend for companies towards reducing greenhouse gas emissions in operations or exploring business opportunities for climate-friendly technologies and sustainable products. In the coming years, many corporate decision-makers will be looking even more closely at the impact of climate risks in their value chain and taking appropriate precautions. Many companies are building up dedicated competencies around climate risk mitigation, bringing together both risk management and sustainability experts.”

Businesses also have to become more weatherproof against extreme events such as hurricanes or flooding. “Previous once-in-a-century-events may well occur more frequently in future and also in regions which were considered ‘safe’ in the past. Both buildings and business continuity planning need to become more robust in response,” says van der Zwaag.

Other risers and fallers in this year’s Allianz Risk Barometer:

  • Shortage of skilled workforce (13%) is a new entry in the top 10 risks at number nine.  Attracting and retaining workers has rarely been more challenging. Respondents rank this as a top five risk in the engineering, construction, real estate, public service and healthcare sectors, and as the top risk for transportation.
  • Changes in legislation and regulation remains fifth (19%) globally but moves up four places to fourth in Nigeria. Prominent regulatory initiatives on companies’ radars in 2022 include anti-competitive practices targeting big tech, as well as sustainability initiatives with the EU taxonomy scheme.
  • Fire and explosion (17%) is a perennial risk for companies, ranking seventh as in last year’s survey. Market developments (15%) falls from fourth to eighth year-on-year but moves up six places to fourth in Nigeria. Macroeconomic developments (11%) falls from eighth to 10th globally but remains unchanged at number three in Nigeria.
Nigeria is ready for ICAO safety audit – NCAA

By Favour Nnabugwu

 

Director General, Nigeria Civil Aviation Authority, NCAA, Captain Musa Nuhu yesterday said the country is ready and prepared for the forthcoming International Civil Aviation Organisation (ICAO) Universal Safety Oversight Audit Programme (USOAP), Continuous Monitoring Approach (CMA), audit slated for the first quarter of this year.
Captain Nuhu said this while refuting a publication by a media house that Nigeria is not prepared for the audit.

According to him, the media report is a misrepresentation of the audit facts.
He said “ICAO Annex 9 is on facilitation, while Annex 17 contains Standards and Recommended Practices (SARPs) concerned with the security of international air transport and is amended regularly to address the evolving threat.”

He added that the coming audit is an activity during which ICAO assesses the effective implementation of the critical elements (CEs) of a safety oversight system and ” conducts a systematic and objective review of a State’s safety oversight system to verify the status of a its compliance with the provisions of ICAO Convention.”

He further explained that security had its own separate audit, stressing that Nigeria performed well in the last security audit conducted in the sector by ICAO. Nigeria Scored 96.4 per cent and the country received ICAO Council President Award Certificate for its performance.

Captain Nuhu said: ‘NCAA will step up its oversight function and collaboration with all relevant stakeholders to ensure continued improvement in aviation security and facilitation.

Security Audit is different from safety audit. What we are doing now is quite different from security audit and it’s not related to facilitation. I understand facilitation is good for passengers, but, it has nothing to do with the current audit.”

“The last security audit we had, Nigeria scored 96.4 per cent and because of this performance, Nigeria received ICAO Council President Award Certificate for its performance. Yes, I accept we have some challenges in the industry, just like in the other countries around the world”.

” However, to say Nigeria is not ready for audit is a misnomer. Someone is saying we are not ready for two issues that are not part of the forthcoming audit. I think that is wrong.”

Recall Nuhu had declared last week at the League of Airport and Aviation Correspondents (LAAC) annual training at the Nigerian College of Aviation Technology (NCAT), Zaria that the country was full prepared for the audit.

According to him, NCAA was on top of its game to ensure a successful outing for the Nigeria in the ICAO audit.
He also said NCAA proactive approach and robust regulations had led to the “over eight years of zero accident in commercial flight operation in Nigeria”.

PenCom set to review Pension Act 2014

By Favour Nnabugwu

 

The National Pension Commission (PenCom) has embarked on  another pension reform act with solutions to implementation challenges of the PRA 2014,.

The commission organized a retreat on the review of the Pension Reform Act 2014 (PRA 2014) in Abuja last week

The retreat aimed at salient issues to be reviewed in the PRA 2014 as a prelude to advancing legislative action on the bill. It is expected that the National Assembly would subsequently organize a public hearing in order to provide an avenue for stakeholders to formally make input into the proposed
amendments.

The PRA 2014 was enacted following a review of the initial Pension Reform Act of 2004, which introduced legal and institutional frameworks of the
Contributory Pension Scheme (CPS) and established PenCom to regulate and supervise all pension matters in Nigeria.

Speaking during the opening ceremony of the retreat,  the Director General of PenCom, Aisha Dahir-Umar (pictured), informed the participants that the PRA 2014 codified one of the most important socioeconomic reform initiatives of the Federal Government, leading to a pension industry that has accumulated pension assets in excess of N13 tn invested in various aspects of the Nigerian economy.

Dahir-Umar noted that the review is a corollary to some implementation challenges encountered with certain sections of the Act not long after its enactment in July 2014. Several opinions have sprout challenges certain provisions the current act.

This is in addition to persistent calls from stakeholders for the amendment of some sections of the Act, which resulted in several legislative initiatives
through the sponsorship of bills for amendment of the PRA 2014 by the National Assembly.

PenCom is working to coordinate and harmonize the various efforts in order to achieve a more comprehensive and constructive exercise for the review of the PRA 2014.

Great Nigeria Insurance set the drive for 2022 business

By Favour Nnabugwu
Great Nigeria Insurance Plc has critically analyse the operating environment, the  performance and the challenges faced in 2021 to set the tone for the year 2022 business drive
During the annual thanksgiving and praise offering at the first working day meeting of the year held at the organization’s head office in Lagos, commitment to improved performance for profitability was the major focus of the discussion.
The Managing Director of the company, Mrs. Cecilia Osipitan in her New Year address appreciated all members of staff for their staunchness and performance in the past year.
She also urged her colleagues in management to bring to fore an unrelenting commitment and dedication in ensuring that the targets set for 2022 are met and surpassed.
While addressing the workforce, the Chief Executive Officer appealed to them not to relent in their quest of making the GNI Plc brand the most preferred and patronized brand in the insurance industry in Nigeria. She urged everyone to prioritize accomplishment as the watchword for the organization’s operations in 2022.
Osipitan also announced the result of the half year appraisal exercise which according to her is in tune with the organization’s resolve to always recognize and reward outstanding performance.
Great Nigeria Insurance Plc is a composite underwriting firm licensed to underwrite both life and non-life insurance businesses with over 60 years’ experience in the Nigerian insurance industry.
In 2022, Great Nigeria Insurance Plc has reiterated its unflinching commitment to sustainable initiatives geared at ensuring greater performance and profitability.
The details of the appraisal exercise showed that sixteen employees were elevated in different cadres of the organization to higher positions of responsibility while thirteen members of staff received their employment confirmation owing to a satisfactory performance during their probationary period.
In her words, Cecilia said, “Our greatest asset is the Human Capital which we have recognized as the key success factor in organizational growth and survival, hence we will keep motivating our employees through a continuous reward process so that they can perform at their optimal level at all times”.
In the statement made available to the media, the organization’s theme of the year was ‘2022 Our Year of Phenomenal Growth and Profitability’, which espoused on the need to consolidate on the gains of the past years while also re-strategizing on how to make the business more profitable, whilst providing customer-focused solutions to the insuring public in the new year.
Great Nigeria Insurance Plc has over the years demonstrated commitment to maintaining a leading position in the insurance industry in Nigeria with its branch network spread strategically across the country.
Sir Oyegunle bags doctorate degree from JABU

By Favour Nnabugwu

 

The President, Chartered Insurance Institute of Nigeria (CIIN) Sir. Muftau Olakunle Oyegunle, will be conferred with a honorary doctorate degree by Joseph Ayo Babalola University, JABU, Ikeji Arakeji, Osun State on Friday, January 21, 2022.

Sir. Oyegunle has distinguished himself through introduction of notable initiatives that have helped moved the industry to lofty heights since he became President of the insurance industry education arm. Of which, prominent amongst the initiatives was the induction of President Muhammadu Buhari, GCFR and Commander-in-Chief of the Armed Forces, as the Patron and Honourary Fellow of Institute.

Oyegunle was born in Makurdi, Benue State to Alhaji Taiwo Oyegunle and Madam Adesola Oyegunle on the 23rd of June 1960.
He began his educational sojourn at St. Peter’s Anglican Primary School, Ile –Ife, Osun State and proceeded to Origbo Anglican Grammar School and Adeola Odutola College, Ijebu-Ode, Ogun State for his Secondary and Higher School Certificate education respectively.

In 1979, Sir. Oyegunle gained admission into the prestigious University of Ibadan to study Sociology and obtained a B.sc Hons (Sociology) in 1982. He equally completed the requirements for a M.B.A in Human resource Management in 2002.

Upon completion of his National Service, Sir. Oyegunle briefly taught at the Government Day Secondary School, Jaji, Kaduna State.
Defying the odds presented by a background in social sciences, a resolute Sir. Oyegunle began his foray into the insurance industry in 1985 when he was employed as Insurance Superintendent by Leadway Assurance Company Limited. A dedicated and assiduous grafter, Sir. Oyegunle’s application of intellect and skill to achieve results merited a progressive rise through the ranks to the position of General Manager, Commercial in 2009.

During this period, Sir. Oyegunle in pursuit of professional excellence, acquired the required certifications needed to reach the pinnacle of the insurance profession. He qualified as an Associate of the Chartered Insurance Institute of London in 1990 and became a Chartered Insurer in 1995. He became a Fellow of Chartered Insurance Institute of Nigeria in 2003.

Sir. Oyegunle retired from Leadway Assurances Company Limited in 2013 to industry acknowledgment and acclaim after 28 years of meritorious service, to manage his private Company – Lakeg Nigeria Limited which engages in Insurance Consultancy. However, he still participates actively as Non – Executive, Director on the Board of the following companies; Prestige Assurance Plc; Leadway Hotels Limited, Maryland –Ikeja, Lagos; Leadway Capital & Trusts Limited and Alternate Non – Executive Director, Leadway – Pensure PFA Limited.

Sir. Oyegunle’s path to Presidency of the Chartered Insurance Institute of Nigeria is borne out of 26 years of service to the Institute in various capacities. He was Chairman, Kaduna branch of Chartered Insurance Institute of Nigeria from 1994 to 1996 and was voted into Chartered Insurance Institute of Nigeria Council in 2009 in which he has remained a member to date. Prior to his investiture as President, he has served as the Deputy President of the Chartered Insurance Institute of Nigeria and Chairman, College of Insurance and Financial Studies. In his 26 years as a member of the Institute and Governing Council, he has served as the Treasurer, member/ chairman of Education, Examination, Finance and General Purpose Committees of the Institute.

A beacon of professionalism, academic excellence and standards, Sir. Oyegunle has delivered several Academic and Professional papers worldwide. A widely travelled professional; he has had the privilege of attending several conferences and courses abroad especially at Swiss Insurance Training Centre Zurich, Switzerland, National Insurance Academy of India among others. He was part of the Rotary International Group Study Exchange team to Brazil in 1995.

His penchant for promoting inclusion and inspiring growth is not only restricted to the insurance industry as he has left a defining mark in other endeavours. He joined Wesley Cathedral in 1985 through the influence of his mentor, Late Sir. Hassan Olusola Odukale and has served the Methodist communion with passion to the glory of God.

He also ensured that during his presidency with the Chartered Insurance Institute of Nigeria, insurance penetration and awareness hit a record high, with the commencement of holding insurance quizzes for secondary schools all over the Federation. He also pioneered radio jingles on insurance aimed at creating awareness among the populace in local dialects over the airwaves, which on the long run will increase insurance awareness.

Sir. Oyegunle has been Secretary and Chairman of Harvest Committee and Building Committee, handing over the key of new Cathedral Building in Kaduna to Prelate Sunday Mbang in 1995. He has served the Church in various functions such as, Chairman of Investment Committee; Secretary and President of Men Christian League and Secretary and President of Fountain of Hope Society.

He has also been a member of the Leaders meeting and Trust Committee of the Cathedral for decades and served on the Board of Wesley Primary School, Kaduna. He is also a Life member of Bible Society of Nigeria.

In recognition of his services to God and mankind under the banner of the Methodist Church Nigeria, Sir. Oyegunle is privileged to have been honoured with the highest award, Knight of John Wesley (KJW) of the Methodist Church Nigeria in 2003.

He is a firm believer in the enabling power of God’s grace which permits service in his vineyard and in scriptural holiness. He is a man of integrity and lover of God’s work.

His desire to drive growth and engender prosperity is further evidenced in his position as the Chairman of his hometown umbrella development Association, Ilisan Development Association (IDA).

Sir. Oyegunle, the 50th President/Chairman of Council, Chartered Insurance Institute of Nigeria, is happily married to Lady Elizabeth Iyabode Oyegunle and they are blessed with four children

 

Kidnappers abduct two junior NCRIB staff in Ogun State, demand N40m

 

By admin

Two junior staffers of the Nigerian Council of Registered Insurance Brokers (NCRIB) have been abducted alongside another victim around the Isara axis of the road situated within Ogun State end of the expressway at exactly 6.45a.m yesterday.

The victims were said to be on their way back to Lagos from Ibadan before the car in which they were travelling broke down around the Isara axis of Sagamu, Ogun State at about 6.45am, and while in the process of fixing the car, the gunmen emerged from the bush and marched them into the bush.

The Executive Secretary of Nigerian Council of Registered Insurance Brokers (NCRIB), Tope Adaramola confirmed that those abducted were junior workers of the council, that their salaries were not up to N60, 000.

At the time of filing this report the kidnappers had contacted the management demanding N20 million each for the victims to regain freedom.

“The victims, two of whom are workers of an insurance umbrella body in Lagos were on their way back to Lagos from Ibadan.”

The company scribe explained that, in the process of fixing the car, four gunmen, cladded in military camouflage emerged from the bush and marched the three victims into   the bush.

The council spokeperson, Dele Ayeleso, said the kidnappers later make use of mobile phone of one of the victims to demand ransom and also treating that if they did not receive money, that victims will be killed immediately

Cybersecurity alert: New ransomware attacking organisational networks through infection USB drives uncovered

By admin

 

The Nigerian Communications Commission, NCC, has alerted members of the public that a cybercrime group has perfected a new year scheme to deliver ransomware through infection USB drives to targetted organizational networks.

The Commission said that the new ransomware uncovered by security experts has been categorised, by the Nigerian Computer Emergency Response Team’s, ngCERT, advisory released over the weekend, as high-risk and critical.

It said: “According to the ngCERT advisory the criminal group is said to have been mailing out USB thumb drives to many organisations in the hope that recipients will plug them into their personal computers, PCs, and install the ransomware on their networks.

“While businesses are being targeted, criminals could soon begin sending infected USB drives to individuals.

“Describing how the cybercrime group runs the ransomeware, the ngCERT advisory said the USB drives contain so-called ‘BadUSB’ attacks.

The BadUSB exploits the USB standards versatility and allows an attacker to reprogram a USB drive to emulate a keyboard to create keystrokes and commands on a computer.
“It then installs malware prior to the operating system booting, or spoofs a network card to redirect traffic.

“Numerous attack tools are also installed in the process that allows for exploitation of PCs, lateral movement across a network, and installation of additional malware. The tools were used to deploy multiple ransomware strains, including BlackBatter and REvil.

“The ngCERT noted that the attack has been seen in the US where the USB drives were sent in the mail through the Postal Service and Parcel Service.

It said: “One type contained a message impersonating the US Department of Health and Human Services and claimed to be a COVID-19 warning. Other malicious USBs were sent in the post with a gift card claiming to be from Amazon.”

Meanwhile, to stay safe, the Commission said ngCERT recommends that individuals and organisations must not insert USB drives from unknown sources, even if they’re addressed to you or your organization.
“Also, if the USB drive comes from a company or a person one is not familiar with and trusts, it is recommended that one contacts the source to confirm they actually sent the USB drive,” it advised.

FG spend N152Bn digitalization in 2021, targets 2030 for paperless government operations

By admin

 

 

The Nigerian government said it spent a whopping N152 billion on digitalization in 2021, describing it as a quantum leap from the N9 billion spent in 2019 and 2020.

“While we are targeting 2030 to have a paperless government operation, we will like to inform you that the government spent N152 billion on digitalization in 2021. This amount is a quantum leap from the N9 billion spent in 2019 and 2020,” the Minister of Communications and \digital Economy, Prof. Isa Pantami disclosed at the Champion Day and Closing of 2021 Service Wide Capacity Building program on e-Government in Abuja.

According to him, the amount constitutes the total sum approved by National Information Technology Development Agency (NITDA) for the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Corporation (NNPC), Corporate Affairs Commission (CAC), Immigration and Customs among other agencies of government for the 2021 fiscal year.

He said the target of the Federal Government is to make sure that by 2030, we achieve a paperless government where emerging technologies like Blockchain that has data integrity and many more is guaranteed.

While maintaining that paperless government is very possible because government is desirous of digitizing its processes, he posited that technology cannot do it alone, stressing that training those who will manage the technology effectively for the betterment of our country is also important.

In her goodwill message, the Head of Service Civil of Federation, (HoSCF) Dr Folashade Yemi-Esan disclosed that many Ministries, Departments, and Agencies of government are on the verge to digitalize their processes, assuring that by the end of the year, many successes would have been recorded in the nation’s drive to digitalization.

While commending the Ministry of Communications and Digital Economy and its parastatals for the support in ensuring that processes at the Office of Head of Service for the Federation is digitalize, she noted that the gestures would go a long way in assisting us to achieve our own dream.

Meanwhile, the NITDA Director-General who also doubled as the Council’s Chairman, e-Government Training Centre, Kashifu Inuwa, CCIE, said the Federal Government had trained 1,376 civil servants from 48 ministries, departments and agencies between November 2020 and December 2021 in the use of ICT.

He said the capacity building programme for civil servants is part of the federal government’s e-Government Master Plan aimed at digitizing every government process in all ministries, departments, and agencies (MDAs).