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Pension

Contributors inject N1.85tn into pension fund in 11 months

Leave a Comment and share Chuks Udo Okonta About N1.85 trillion was injected into the pension fund assets between January and November 2020 by Contributory Pension Scheme (CPS) subscribers, Inspenonline can report. Data obtained from the National Pension Commission (PenCom) revealed that as at January 2020, the pension fund assets […]

Insurance

IMF decries insurers’ poor accounting, auditing practices

° Says NAICOM’s supervisors spend more time verifying data than analysing them Leave a comment and share Chuks Udo Okonta The International Monetary Fund (IMF) has said supervisors from the National Insurance Commission (NAICOM) spend more time verifying data than analysing them due to poor accounting and auditing of Insurance […]

Pension

Pension fund assets soar to N12.29tn

Leave a comment and share Chuks Udo Okonta The pension sector fund assets has soared to N12.29 trillion by November 30, 2020, the National Pension Commission (PenCom) has said. This represented a 1.94 per cent increase when compared with N12.053 trillion recorded as at October 31, 2020, it said, noting […]

Insurance

Nigeria’s insurance sector capital base three to six times higher than other countries – IMF

Leave a comment and share Chuks Udo Okonta The International Monetary Fund (IMF) has said Nigeria’s insurance industry minimum capital requirements are three to six times higher than other developing countries. The IMF said this in a report entitled: Nigeria: Publication of Financial Sector Assessment Program Documentation – Detailed Assessment […]

Insurance

COVID-19: FG fails to make claims on dead medical pensonnel

Leave a comment and share Chuks Udo Okonta Nine months after the Insurance industry granted N11 billion life insurance cover to frontline health workers employed to combat COVID-19 pandemic, the Federal Government is yet to report any claim amid acclaimed deaths by the Nigerian Medical Association (NMA). Investigation by Inspenonline […]

Insurance

Sovereign Trust Insurance maintains A-rating with GCR

MD/CEO Sovereign Trust Insurance, Olaotan Soyinka Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance Plc has over a decade now, consistently maintained a confident A- rating with the international rating agency, Global Credit Rating, GCR based in South Africa. A statement by the Deputy General Manager Sales […]

News

Stanbic IBTC supports businesses with bouquet of solutions

Leave a comment and share Chuks Udo Okonta Stanbic IBTC Holdings PLC, has highlighted its array of solutions to support businesses in the country to make the most of 2021. The solutions on offer are geared towards providing access to flexible funding for small, medium and large-scale enterprises thereby addressing […]