Insurance

Why insurers are not remitting 0.25% to fire service – Ajayi

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Chuks Udo Okonta

The former Chairman, Nigerian Insurers Association (NIA), Olusola Ladipo-Ajayi, has attributed insurers failure to remit the statutory 0.25 per cent to Federal Fire Service (FFS) to non enforcement of the fire law by the service.

Ajayi who spoke at a forum in Lagos, charged the FFS to do its work by enforcing the law, stressing that when the public comply with the law, insurance operators would generate premium out of which the 0.25 per cent would be paid.

Fire Officer, Ahmadu Sakiru, at the event, had accused insurers of not remitting money accruable from the 0.25 per cent Fire Service Maintenance Fund between the insurance industry and the Federal Fire Service.

He urged insurers to comply with the law by contributing the 0.25 per cent to the Fire Service Maintenance Fund.

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