FANAF organises seminar on Marine in Cote D’Ivoire October 2

By Favour Nnabugwu



The Federation of African National Insurance Companies (FANAF) is organizing a training seminar on “Marine Transport Insurance: Mastering the mechanisms of underwriting, compensation and recourse for the optimal development of this class of business in your portfolios”.

The session will be held from 2 to 4 October 2023 in Abidjan, Côte d’Ivoire.

The event will be hosted by Claire Hamonic, CEO of Ascoma International (Paris), Christian Fassinou, Deputy Director and Partner of the Compagnie des Experts Maritimes group (Abidjan) and Anasse Ernest Assamoi, current Insurance Ombudsman of Côte d’Ivoire.

Seven reasons why government need to insure her assets

By Favour Nnabugwu




There are seven major reason why government need to insure her assets. The reason ate as follow:

1. Risk Transfer: By insuring government assets, the government can transfer the risk of potential damages or losses to an insurance provider. This helps protect public funds and resources by reducing the financial burden that would otherwise fall on the government in the event of accidents, natural disasters, or other unforeseen incidents.

2. Fiscal Stability: Insuring assets can contribute to fiscal stability for the government. In the event of a disaster or significant loss, insurance coverage can provide financial support for the repair, replacement, or compensation of damaged assets. This can prevent unexpected financial strains and disruptions to public services.

3. Budget Planning: Insurance premiums can be factored into the government’s annual budget planning process. This allows for predictable and manageable expenditure allocation for asset protection. By including insurance costs in the budget, the government can ensure that it is prepared for potential losses and can effectively allocate resources for risk management.

4. Enhanced Recovery and Rebuilding: Insurance coverage facilitates faster recovery and rebuilding processes for damaged or destroyed assets. The government can access financial resources from insurance claims to expedite repairs, replacements, or reconstruction efforts, enabling the restoration of public services and infrastructure in a timely manner.

5. Liability Protection: Insurance coverage can protect the government against potential legal liabilities arising from accidents or property damage caused by government-owned assets. Liability insurance can help cover the costs associated with legal claims, settlements, or judgments, reducing the financial impact on the government’s budget.

6. Investment Protection: Insuring assets encourages investment in public infrastructure and properties. Investors may be more willing to finance or participate in projects if they are confident that the assets are adequately insured. This can attract private sector participation, stimulate economic growth, and support the development of public infrastructure.

7. Public Confidence: When citizens see that the government has taken measures to protect its assets through insurance, it can enhance public confidence in the government’s ability to manage resources responsibly. This can foster trust and collaboration between the government and its constituents.

It is important for the government to assess its assets comprehensively and determine which ones should be insured based on their value, criticality, and potential risks. Working with insurance professionals and risk management experts can help the government make informed decisions regarding asset insurance and ensure that the coverage aligns with its specific needs and requirements.

Emir of Kano persuades Nigerians to embrace insurance

By Favour Nnabugwu




National Insurance Commission, Naicom led by the nation’s Commissioner for Insurance, Mr Sunday Olorundare Thomas took sentisotation on insurance to Kano State

It was at the instance of the Commission’s visit to Emir ‘s palace in Kano that the Emir of Kano, Alh. Aminu Ado Bayero has urged Nigerians to embrace insurance as a way of relieving loss, especially in businesses and property loss.

Emir Ado Bayero also urged the Commission to ensure insurance obligations are adequately met by insurers and commended the leadership of the Commission for the giant strides and efforts in developing the Nigerian insurance market.

He also reiterated that insurance is no doubt an important aspect of human life as extensive research has shown that insurance is not conflicting with religious belief, especially with the coming of Takaful insurance.

He thanked the Commission for the visit and promised to support insurance deepening in the country and further assured he would consider the invitation to the National Insurance Conference and will personally attend the conference.

The Commissioner thanked the royal father for the warm reception and his acceptance to personally attend the National Insurance Conference scheduled for October 22 – 24, 2023, in Abuja.

The Commission thereafter named the Emir Aminu Ado Bayero as Royal Ambassador for Insurance in the country and commended his style of leadership since his takeover of the throne.

Insurance, pension play key drivers role to economic growth 

By Favour Nnabugwu 
For the nation’s economy to grow and develop very well, insurance and pension have a key drivers to the role according to  the Finance expert and Managing Director/ Chief Executive Officer  APT Securities and Funds Limited, Mallam Kasim Garba Kurfi,
Kurfi, who stated this while delivering the theme paper on the  “Role of Insurance and Pension Sectors In Building Sustainable Economic Growth Under The New Government,” at the 8th Annual National Conference of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Lagos said insurance and pension sectors today stand as  engines for sustainable economic growth and forces to reckon  with in every economy .
Kurfi therefore called on the present administration in the country  to put in place enabling policies and laws that support the survival of the sectors for them to continue to contribute the national growth.
Kurfi, while highlighting the contributions of the two sectors to the national economy said, “There is over N2.5 trillion assets managed by the insurance institution in Nigeria as of 31st December 2022.
“While there is over N16.6 trillion assets managed by the Pension Fund Administration as at 31st December 2022, the combination of the two institutions has a total asset of over N19 trillion. The role played by the two institutions in sustaining our economic growth left no one in doubt that they are instruments for most of the economic development
“Over N726 billion in premiums paid in the year 2022 according to the National Insurance Commission, while the industry also paid over N318.1 billion in claims to its customers within the same period. This is a remarkable achievement in comparison with 3.5% growth of Gross Domestic Product (GDP).”
He said insurance institutions give security to the future of the common people and aid economic growth upon happenings or allowance of specific event or disaster.
“Insurance represent promise of the future compensation in case of specific losses or in exchange for periodic payment called premium.
“Managing risk is very important for companies dealing with money or equivalent. The insurance industry promotes National development through wealth creation or protection. It primarily hedges against risk or contingent or uncertain loss.”
On pension, he said, “The contribution of pension funds that run over N16 trillion is pronounced in all phases of life. Many sectors of the economy benefit from excess funds that look for alternative ways to invest such as FGN SUKUK, GREEN BOND, and Infrastructures Bond, among many others.”
Kurfi said Pension ensures that every worker receives his/her retirement benefit as at when due. Ensure workers save in order to cater for future liability and old age. Provide long-term finance for the real sector. Stimulate the development of the capital market.
While condemning those agencies and institutions clamouring to exit Contributory Pension Scheme (CPS), Kurfi enjoined the government at all levels to discourage such moves for the interest of the Pensioners and the nation’s economy.
He said the contribution of insurance and pension sectors towards economic development is imminent and can be seen especially in driving the nation’s financial inclusion project.
Naicom visits Nasarawa State Gov to promote compulsory insurance


L- Executive Governor of Nasarawa State, Excellency Engr. Abdullahi A. Sule and the National Commissioner for Insurance, Mr Sunday Olorundare Thomas during the visit of Naicom.

By Favour Nnabugwu

As part of the National Insurance Commission’s drive to sensitise stakeholders on the benefits of compulsory insurances (Public Buildings and Buildings Under Construction, 3rd Party Motor Insurances amongst others), the Commissioner for insurance, Mr Sunday Olorundare Thomas and a delegation from NAICOM paid a courtesy visit on the Executive Governor of Nasarawa State His Excellency Engr. Abdullahi A. Sule to intimate him and members of his executive council about the benefits of insurances.

The Commissioner for Insurance also used the opportunity to formally invite the Executive Governor of Nasarawa State to the National Insurance Conference scheduled to hold from 22-24 October, 2023.

The Executive Governor in his remarks gave a personal testimony while he was still in the private sector of how the sugar refinery where he worked as the Managing Director was razed by fire but thanks to insurance, a newer and better one was built from the claims paid by insurance company.

Several reasons why Life insurance is important

By Favour Nnabugwu

Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.

And there several reasons why it is important for one to have a life policy

Financial Protection: Life insurance provides a financial safety net for your loved ones in the event of your death. It helps replace your income and ensures that your family can maintain their standard of living, pay off debts, cover daily expenses, and achieve their long-term financial goals.

Debt Repayment: Life insurance can help cover any outstanding debts you may have, such as mortgages, loans, or credit card debt. Without life insurance, your loved ones may become financially burdened or risk losing assets to settle these debts.

Education and Future Planning: Life insurance can provide funds for your children’s education expenses, ensuring that they have the means to pursue their dreams and aspirations, even if you’re no longer there to support them financially.

Funeral and Final Expenses: Life insurance can cover the high costs associated with funerals, burials, and other final expenses. It provides immediate funds to cover these expenses, relieving the financial burden on your family during an already difficult time.

Business Continuity: If you’re a business owner, life insurance can help ensure the continuity of your business in the event of your death. It can provide funds for business expenses, covering debts, paying salaries, or facilitating a smooth transition of ownership.

Estate Planning and Inheritance: Life insurance can be an effective tool for estate planning, allowing you to leave behind an inheritance for your loved ones. The proceeds from a life insurance policy can be used to provide an equal distribution of assets and minimize estate taxes.

Peace of Mind: Having life insurance gives you peace of mind, knowing that your loved ones will be financially supported and protected, even if you’re no longer there. It alleviates worries about their financial well-being and ensures they can maintain their quality of life.

Health and Age Considerations: Obtaining life insurance at a younger, healthier age is generally more affordable. By securing life insurance early on, you can take advantage of lower premiums and potentially lock in coverage even if your health deteriorates later in life.

It’s important to assess your individual financial situation and consider factors such as your income, dependents, debts, and long-term goals when determining the type and amount of life insurance coverage you need.

Consulting with a financial advisor or insurance professional can help you make informed decisions to ensure your loved ones are protected financially.

Gbenga Ilori now Executive Director of AIICO Insurance

By Favour Nnabugwu



AIICO Insurance Plc has notified the Nigerian Exchange Limited (NGX) and the investing public of the appointment of Mr. Gbenga Ilori as an Executive Director of the Company. The approval of the National Insurance Commission (NAICOM) has been obtained for his appointment.

“We wish to notify the Nigerian Exchange Limited (NGX), our esteemed shareholders, and the investing public of the appointment of Mr. Gbenga Ilori as an Executive Director of AIICO Insurance Plc (‘the Company’). The approval of the National Insurance Commission (NAICOM) has been obtained for his appointment.

Gbenga is a seasoned professional with over 20 years of progressive work experience in areas that cut across Sales, Marketing, Operations, Customer Service, Strategy, and General Management. He is a certified insurance practitioner with high financial acumen matched by a success-driven personality. He is self-directed, highly principled, and a collaborative leader. He is a bold and disruptive leader, who is always ready to challenge the status quo for better results.

He joined AIICO Insurance Plc in November 2010 as the Group Head of Retail, to drive the retail businesses of both Life and General operations. This he did successfully, overseeing a major re-organization of the agency network for the distribution of all retail products within AIICO.

He led his team to establish the annuity desk in AIICO and trained their agency network on annuity opportunities in the Pension Reform Act. He was later appointed the Special Assistant to the Group Managing Director in April 2012. He and his team pioneered the Microinsurance Business in AIICO in 2014.

Gbenga left AIICO in 2020 to join Coronation Life Assurance Limited in 2020 as the Executive Director – Technical. During his period at Coronation, he oversaw the agency distribution channel, supported the bancassurance initiative of the ecosystem, oversaw product development, technical operations, and the execution of the marketing strategy in the company. Gbenga Ilori rejoined AIICO in 2022 to lead the Retail Business function and Agency Operations.

Gbenga holds a B.SC (Hons) in Actuarial Science from the University of Lagos and a master’s degree in business administration with a specialization in Marketing from the Federal University of Technology Akure.

He is an associate of the Chartered Insurance Institute of Nigeria (ACIIN) and has attended several courses in Microinsurance, Customer Experience, Brand Management, Strategic Marketing, Product Development, Business Strategy, Relationship Management, Risk management, and Finance, both locally and abroad. He is an alumnus of the prestigious Lagos Business School, where he took a 9-month course in Senior Management. He is also a member of the Technical Committee of the Chartered Insurance Institute of Nigeria (CIIN). Gbenga has attended several capacity building training courses both within and outside the country.

Insurance, Pension Operators seek Govt support on Business-Friendly Regulation

L-R: Keynote Speaker and Managing Director, APT Securities and Funds Limited, Mallam Kasim Garba Kurfi; Director General, Nigerian Insurers Association (NIA), Mrs Yetunde Ilori, Mr Larry Ademeso, Managing Director, Custodian Life Assurance Limited, representative of Mr. Wole Oshin, Group Managing Director, Custodian Group, Chairman of the occasion; Mrs. Nkechi Naeche-Esezobor, Chairperson, NAIPE: at the 8th NAIPE Annual national Conference in Lagos on Thursday.
By Favour Nnabugwu
Operators in the nation’s financial service sector have advocated the need for Insurance and Pension operators to adopt a more creative and innovative ways in their business approach as they seek federal government support for business-friendly regulations
The practitioners wants insurance and pension operators on creative product development and service delivery to grow the sectors.
They gave their submissions at the 8th annual national conference of the Nigerian Association of Insurance and Pension Editors (NAIPE), with the theme: “Role of Insurance and Pension In Building Sustainable Economic Growth Under The New Government,” held in Lagos on Thursday.
The experts emphasized the need for operators to embrace continued manpower development and technology adoption, which is a panacea for driving growth in modern-day businesses.
They also urged government at all levels to provide an enabling environment, supported by relevant regulation that is business-friendly and growth-driven.
In his contribution at a panel session, the Managing Director/Chief Executive Officer, Scib Insurance Broker, Mr. Shola Tinubu harped on the need for government to adopt creative policies and regulations that are business-friendly and growth-driven for the insurance and Pension sectors.
L- Mr. Edwin Igbiti, President, Chattered Insurance Institute of Nigeria (CIIN); Ms Prisca Soares, former Secretary General, African Insurance Organization (AIO) and Mr. Shola Tinubu, Managing Director, Scib Insurance Brokers at the NAIPE conference
Tinubu advised the regulators to give operators a free hand to choose their own ways of raising capital.
He said  “On the insurance side, capital had been driven by statutory requirements.
“We are talking about the regulator mandating the players to get certain quantum of capital without creating ground for that capital.
“Meaning that companies have to strive for capital just to stay in business and what has happened in the various rounds that we had was that there was no creative idea for channeling the capital.
L- President, West African Insurance Companies Association (WAICA) and GMD, CHI; Mrs Abimbola Tiamiyu, DG, CIIN; Mrs. Abimbola Sulaiman, ED, Investment, ARM Pensions, representative of Mr Wale Odutola, MD, ARM pension, Mr Wale Okunrinboye, Chief Investment, Access Pensions, representative of Mr Dave Oduano, MD, Access Pensions, and Mr. Akinbola Akintola, Head, Research Department, representative of Mr Oguche Agudah, CEO, Pension Fund Operators Association of Nigeria (PenOp) at the 8th NAIPE Conference in Lagos 
According to him, “if any company decides on its own to go to the capital market to raise capital, such a company will channel the capital effectively for the growth of the business.
Tinubu noted that the industry need a situation where operators will initiate capital level and use it to follow up investment ideas.
The managing director stated that there is a need for investment managers who can digest investment ideas and see the kind of things they need.
He explained that operators do not need capital for the sake of raising it, but for investment opportunities that will yield higher returns.
In his view, the Managing Director, ARM Pension, Mr. Wale Odutola, represented by Mrs. Abimbola Suleiman, ED, Investment, ARM Pension, said every household has a need for basic insurance and a basic pension plan.
Odutola noted that insurance and pension have gone a long way in improving the lives of people.
He explained that government alone cannot engender sustainable economic growth, as such, insurance and pension should be encouraged among the rural dwellers to better their lots.
“When insurance handles the risks for businesses and the Contributory Pension Scheme (CPS) takes care of Pension liabilities from the balance sheet of the companies, this will go a long way to ensure productivity and growth in the nation’s finance sector.
“There are currently nine million people in the CPS net and this is abysmally low when compared to the nation’s population.
“Hence, there is need to get all state governments involved and the participation of the informal sector in CPS,”he said.
According to Odutola, deepening the scope of participation requires innovations and creativity from operators in both the insurance and pension sectors.
Ms. Prisca Soares, former Secretary General of the African Insurance Organisation (AIO) said that, lack of skilled manpower, especially in the area of dearth of Actuaries, is presently challenging the insurance industry.
Soares said that the industry need to take a deliberate attempt to develop its manpower and solve this major challenge, with regard to financial reporting.
She explained that investment in technology needed for actuaries, had been a challenge over the years, but has now become more critical.
“When you do risk base capital you need actuaries to get it right. The insurance industry needs conscious efforts to address this because it is critical to their business,” she said.
Also, Mr. Oguche Aguda, Chief Executive Officer of the Pension Operator Association of Nigeria (PenOp) represented by Mr. Akinbola Akintola,Head of Research Department at PenOp, said, the insurance and pension sectors are facing the same challenge of public confidence.
Oguche charged operators in both sectors to work on their images, adding that if there is no confidence, there is no growth and without growth of the two sectors, the country’s economy cannot grow.
The Group Managing Director, Consolidated Hallmark Insurance(CHI), Mr. Eddie Efekoha represented by Tunde Daramola, ED, Finance at CHI, harped on the need to enforce compulsory insurances and pension, as the era of non-payment of claims have gone.
Efekoha urged operators in both industries to be honest with their businesses, gain the trust of consumers and also bridge their expectation gaps.
Leadway Assurance launches Index-Based Livestock Insurance, IBLI

By Favour Nnabugwu


Leadway Assurance, one of Nigeria’s leading insurance providers, has launch an Index-Based Livestock Insurance (IBLI), a groundbreaking product that will reshape the insurance landscape in the country.

This innovative insurance offering will enhance the Agricultural sector and provide unprecedented climate-smart risk management support to Nigerian Livestock farmers, cattle herders and pastoralists.

Index-Based Livestock Insurance is a unique insurance product that relies on real-time data and indices, such as weather patterns and livestock health indicators, to determine compensation for farmers in the event of losses.

The Managing Director of Leadway Assurance, Mr. Tunde Hassan-Odukale, commented on the strategic importance of this product for the Nigerian insurance industry, stating, “This launch represents a pivotal moment in our industry’s history.

“We are redefining insurance product development in Nigeria by leveraging technology and big data to create solutions that directly address the needs of our clients. Index-Based Livestock Insurance is not only a testament to our commitment to innovation but also a testament to our dedication to supporting the growth of Agriculture in Nigeria.”

Mr. Hassan-Odukale continued, “By providing farmers with a reliable safety net through this product, we are not only mitigating risks but also fostering economic stability in the agricultural sector. As a company, we are proud to be at the forefront of this transformation, and we firmly believe that this innovative approach will drive progress and prosperity for Nigerian farmers.”

The benefits of Index-Based Livestock Insurance extend beyond individual farmers to the broader agricultural sector and the Nigerian economy. This product will help farmers recover from losses faster, enabling them to reinvest in their operations and contribute to increased food production, job creation, and economic growth.

He, therefore, invites all stakeholders, including farmers, agricultural organizations, and government agencies, to explore the opportunities presented by Index-Based Livestock Insurance and join Leadway in building a more resilient and prosperous future for Nigerian agriculture.

This approach eliminates the need for lengthy claims processes and ensures that farmers receive swift and fair compensation when needed. It marks a significant departure from traditional insurance methods and sets a new standard for agricultural insurance in Nigeria.

The livestock insurance cover and its delivery mechanism is a comprehensive insurance cover that seeks to protect poor, vulnerable pastoralists’ households against loss of grasslands due to climate change related risks such as droughts and degradation of vegetation along with unexpected events that may result in the death of the livestock.

The Head of Agric. Insurance at Leadway Assurance, Mr. Fatona Ayoola, expressed his excitement about this milestone in the insurance industry, saying, “The introduction of IBLI is truly a game-changer for Nigerian farmers involved in the livestock production value chain. For too long, our farmers have been exposed to the unpredictability of our weather conditions, attributable to climate change and other unforeseen events that can devastate their livestock, thereby affecting their livelihoods.

Ayoola stated, “This innovative product is designed to address the challenges of inadequate pasture/forage for the animals and provide investment and financial security to our livestock farmers, herders and pastoralists.”

Africa Re, StanbicIBTC Pensions, Sanlam, Nem, 26 others sponsor NAIPE 2023 Conference

By Favour Nnabugwu



African Reinsurance Corporation (Africa Re), Stanbic IBTC Pensions, Sanlam Nigeria and NEM Insurance have emerged gold sponsors of the 2023 edition of the annual conference of Nigerian Association of Insurance and Pension Editors (NAIPE).

Other gold sponsors are Royal Exchange General Insurance, African Alliance Insurance Plc, Anchor Insurance, as well as Linkage Assurance.

The 2023 NAIPE Conference is supported by many other companies and Associations in the insurance and pension sectors.

They are Capital Express Assurance Limited, Consolidated Hallmark Insurance Plc, Cornerstone Insurance Plc, Custodian Investment, Guinea Insurance Plc, Leadway Assurance Company Limited, Mutual Benefits Assurance Plc, LASPEC, Chartered Insurance Institute of Nigeria, Nigerian Insurers Association and Premium Pension Managers.

Others are Pension Fund Operators Association of Nigeria (PenOp),
ARM Pension Managers, Access Pension, Nigerian Agricultural Insurance Corporation, NSIA Insurance Nigeria, Old Mutual Nigeria Limited, Heirs Insurance Group, Prudential Zenith Life Assurance Company Limited, Sovereign Trust Insurance Plc, STACO Insurance Plc, SUNU Assurance Plc and Veritas Kapital Assurance .

The conference is scheduled for tomorrow September 7, at Oriental Hotels, Victoria Island, Lagos, by 10am.

NAIPE has named Mallam Kasim Garba Kurfi, Managing Director/CEO of APT Securities and Funds Limited, as Keynote Speaker for the Conference with the theme “Role of Insurance and Pension Sectors In Building Sustainable Economic Growth Under The New Government.”

They equally unveiled the names of prominent thought-leaders and astute professionals in the Insurance and Pension industries who will serve as lead panelists at the conference to discuss the theme of the conference.

The panelists include Mr Eddie Efekoha, President of West African Insurance Companies Association (WAICA)/Group Managing Director, Consolidated Hallmark Insurance (CHI); Olumide Oyetan, President of Pension Fund Operators Association of Nigeria, (PenOp); Mr Shola Tinubu, Managing Director/CEO of Scib Insurance Brokers and Ms Prisca Gbemisola Soares, former Secretary General African Insurance Organisation (AIO).

Others are Mr Samuel Banji Abolarin, Managing Director/CEO, NLPC; Dave Uduanu, Managing Director/CEO, Access Pensions and Mr Wale Odutola, Managing Director/CEO, ARM Pension.

The conference committee noted that the Keynote Speaker, Mallam Garba Kurfi, is a highly skilled capital market professional operator with decades of experience, a Council Member of Nigeria Exchange Group and Fellow, Institute of Chartered Accountants of Nigeria (ICAN), adding that the most iconic personalities in the insurance and pension industries, with vast experiences and knowledge were selected as panelists of the conference to discuss the theme.

Commenting, Mrs Nkechi Naeche-Esezobor, Chairperson, NAIPE, expressed confidence that the Keynote Speaker and the selected panelists were knowledgeable enough to discuss the theme of the conference.

Esezobor stated that the Special Guests of Honour for the Conference is the Commissioner for Insurance, Mr Sunday Olorundare Thomas and Director-General of the National Pension Commission (PenCom), Mrs Aisha Dahir-Umar.

She said the conference would be chaired by Eminent Investor in the financial services market, A Chartered Insurer and Actuary, Mr Wole Oshin, who is the Founder and Group Managing Director of Custodian Group.

NAIPE Chairperson said that the panelists, having received the Association’s inivitation letter, had in separate responses acknowledged their long-standing relationship with NAIPE and their readiness to always partner, support and identify with the Association in whatever ways possible.

Speakers according to Esezobor were carefully selected by the committee to do justice to the theme of the conference, towards changing the landscape of both industries to further deepen the penetration and contribution of both sectors to the economy.

Not less than 500 stakeholders from the insurance and pension sectors as well as the financial services sector such as Lagos State Pension Commission (LASPEC); Chartered Insurance Institute of Nigeria (CIIN); Nigerian Insurers Association (NIA); Nigerian Council for Registered Insurance Brokers (NCRIB); Professional Insurance Ladies Association (PILA); Institute of Loss Adjusters of Nigeria (ILAN); Pension Funds Operators Association of Nigeria (PenOp); Association for Registered Insurance Agents of Nigeria (ARIAN); College of Insurance and Financial Management (CIFM) and Small and Medium Enterprise Development Association of Nigeria (SMEDAN) etc.

Others expected are: Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI); Food, Beverage and Tobacco Senior Staff Association (FOBTOB); Nigeria Labour Congress (NLC); National Union of Banks, Insurance and Financial Institution Employees (NUBIFIE) and Lagos State Government as well as government agencies.

Also, trade union organisations such as: Nigeria Union of Pensioners; Trade Union Congress; Students from University of Lagos, Lagos State Polytechnic; Yaba College of Technology, Advocacy Groups and Civil Society Organizations etc. will grace the occasion..